After China, India is the next big business flashpoint; this is due to the massive population and fast-growing economy. Therefore, if you are thinking of starting a new business, then India is the place. Although some businesses are inherently profitable than others operating a new business can be a daunting task. In this guide, we discuss the top 5 best small business ideas in India. You can start these businesses with little capital and realize huge gains.
1. Bookkeeping Services
Without expensive equipment of fancy office, bookkeeping business come with low overheads. If you have accounting and bookkeeping skills, then this is for you. Today, SMEs don’t have the ability and time to set up and manage their bookkeeping systems. They outsource such; thus, providing such services can earn you some good cash. Nonetheless, since the business requires handling sensitive information, you should hire seasoned professionals. If well managed, this small business idea can be profitable.
2. Digital Marketing
Today, having an online presence is mandatory for every business. And the world of business is digitized. Unlike traditional marketing, digital marketing helps companies connect to their target audience across the globe. Digital marketing is in high demand, and with the right set of skills, you can make a killing out of the idea. All it requires is a team of experts and space for operation. However, to land your first clients for your business, you need to come up with compelling presentations and compelling website content.
3. Cooking Classes and Bakery
Do you love cooking? Or do you make some delicious food that your loved ones can’t stop but praise you about? If your answer is Yes, then it means you are a great chef. Therefore, starting a cooking class is one of the most magnificent ideas. Like fast food, starting a cooking class requires little capital. Once you gain popularity, you can open your training center.
Additionally, if you like baking and got the skills to create some tempting yet visually appealing food, then a bakery is one of the most excellent startup ideas. If you choose to go with a bakery as a business idea, you need to keep in mind having a creative business plan, just like other businesses.
4. Flour and Masala Grinding Mill
Are you planning to start a small flouring or grinding business? Well, operating a milling business isn’t an easy task. Nonetheless, it has high returns at the end of the day. What’s more, you can start the business in the city or rural areas with little help from reindeer machinery. Additionally, a flour mill provides a wide range of manufacturing opportunities to the entrepreneur. However, to make a kill in this sector, you need to have the right equipment. Besides, there are things you need to consider including;
– Location of the business
– Startup capital
– Registration certificates and license.
Some of the registration licenses you require for this business are:
– Trade License from the local authority
– FSSAI certificate
– AGMARK certification
– BIS Certification
Besides the mandatory certifications, you need to check with tax liabilities to ensure that you’re remitting taxes within the set threshold.
5. Customized Jewelry
People, especially women like accessories. India is a cultural, religious, yet fashionable country, having a personalized jewelry business in a sure bet. With this business, you can invest in buying jewelry, making kits to create earrings, bracelets, and necklaces that are uniquely designed for each client and occasion. Even more, with the right creative mind and marketing tactic, your business will succeed.
If you’re looking out to start a business in India, the first thing is to choose an industry. Next, you will need to carry out a feasibility study, write a business plan, and register your business. As a bonus, to thrive in any sector, you will need to join a professional network.