Entrepreneurs of our generation are looking for creative oppurtunities that could help make them money. But the unfortunate fall in most countries GDP has shaken their economy.
Employment oppurtunities are negligible in some areas, leaving no other alternative than to gather capital and invest in a small business or even starting up something on their own.
But while you are collecting funds from the Bank or your own assets, we thought of making this easier for you by doing a research on what your business might be on. From mystical agriculture guide to button manufacturing we have everything covered.
Here are some Business Ideas that you could opt :
1. Furniture manufacture –
Furnitures are everywhere, look around you and notice if there aren’t two or more chairs or even a table maybe. Everybody is in the need for furnishings, so finding an appropriate market wouldn’t be all that hard.
Secondly, if you’re a sole proprietor then starting with a small scale business would be suitable. Approximately you might need around 1-2 Lakh to get started, it depends on what category of furniture you’re wanting to sell.
Gujarat, Kashmir, Punjab, Uttar Pradesh, and Kerala are the top states taking forward the furniture industry in India. It is one of the most profitable manufacturing business with typically lower investment but a profit margin of 40-60%.
2. Paper & Notebook manufacture –
Paper is being used since the early ages and especially now they’re used in almost every industry. Although the process of making papers has evolved significantly. From fine, non acidic ranges of paper to handmade paper with raw fiber content.
The majority of the investment will go towards the equipment, space and reserving trees. So the estimated capital that you might need will be around 1.5-2 Lakhs.
For machinery in India you will need to pay around : Manual-390000+GST, SEMI-515000+GST, Automatic-950000+GST. If you are willing to go for manual paper manufacturing then considering these expenses beforehand will be useful.
This is a highly succeful business within India so you will not face extreme difficulties.
3. Hydroponic Farm –
Hydroponic agriculture is the one where the crop is unable to grow on soil so it will be substituted with water. These farms are commonly built indoors due the process involved.
There’s very little limit on what you can plant, thus allowing a variety in profit. Hydroponic also is a very speedy process yielding more, there is also negligible or zero use of pesticides hence making the produce absolutely organic.
You can expect to get an annual profit of 1,44,080 INR. The best part in this would be you can apply for agrimachinery nic which is a govt. subsidy.
4. Maize Production –
In India, Maize is the third most common cash crop eaten after rice and wheat. A maize yield of 4 tonnes per hectare (t/ha) at a price of R2 250/tonne will earn a profit of 28.6% (at a production cost of R7 000/ha). If the maize price goes up with a mere R250 per tonne (R2 500/ton), profitability will increase by 14.3%.
So, even after accounting planting maize crops need quite a bit of investment. If you have a budget constraint then do apply for kkisan which is an agro based initiative by the indian govt.
Planting maize reduces weed growth in a fertile piece of land which will minimize damage to root and productive leaf area.
Conclusion -:
According to certain survey it clearly indicates that despite of ever-growing unemployment in some countries, the youth are still willing to take calculated risk but still start their own businesses which might be of small scale.
