How do I Start a Small Tourism Business in Sri Lanka?

To start a small business in Sri Lanka, you need to conduct market research on the industry you plan to enter, choose the proper business structure, obtain required licenses and permits, seek professional guidance, choose the right location, consider the local culture, hire employees and invest in Sri Lanka. You also need to generate a business idea, work on a business plan, generate a name for your business, fund your business and register your business.

The Sri Lanka Tourism Development Authority (SLTDA) is the government authority tasked with planning, development, regulation and policy implementation of tourism and related industries. They have a website where you can find more information about starting a tourism business in Sri Lanka. 

Looks like a huge process with very complicated steps along the way right? Not to worry. We have got it covered for you. The Bizwire team has simplified all of the steps so that you can start your dream business and become successful at it. 

Decide what kind of a tourism related business you are going to start

Think well. What kind of a business do you want to start ? There are so many options. You could start a travel agency. You could start a little restaurant. A boutique. An ayurvedic treatment center.  A gift shop and many more. Do your research on what you can do and what kinds of resources you have access to before you decide.

Where are you going to start your business ? 

Sri Lanka itself is a paradise. Means, the country is full of tourist-attracting places. So where do you think you can start your business ? In the coastal line or do you think of the hill side ? It is an important decision because you are not going to change that location for a while. 

Do you have an idea to go online ?

The world is moving fast. Almost everything has been digitalized in almost every single country in this world. So having a website and running active social media is definitely going to be useful for you. Maybe if you think you cannot afford a real building to start your business you can go for an online store until you can afford a building in real life. 

Have you done a marketing research ?

Doing a marketing research is greatly important. It helps you understand the environment you are going to start your business in. Also it brings light into your potential threats and the weaknesses as well as you can properly identify your targeted segment and audience. 

Did you make a business plan ?

After deciding where, what and how you are going to do your business , now it’s time to make your plan. A business plan is a document that describes your business idea, goals, strategies, and resources. It can help you grow faster, attract investors, evaluate opportunities, set clear guidelines, and communicate your vision. 

How to make a business plan ? 

What about the employees ?

How are you going to hire employees ? Are you going to do it by yourself for a while or are you going to hire a team ? This is an important fact that you might need help from an experienced professional. Because it depends on your starting capitol and so many other things. However if you have something on your mind, try it out too. 

Name for your business ?

Be creative. Think about a catchy, attractive and fitting name for your business. I  think most of the individuals have a name on their minds even before they get started with the process of starting the business. However, you may want to check if the name is already taken by another company. Be unique. 

Register the business

Sri Lanka is one of the easiest countries to register a business in. So get started with the process. It is not hard, nor does it take too much time. Now you can register the business online too. If you want to be too sure about that you can pay the Department of company registration a visit and get it done. 

Fund the business and get going 

It is almost the final and the longest step of the process I might say. Because it is going to take some time for your business to return profit. Be patient and good luck.