India has witnessed a steady rise in the number of women entrepreneurs over the last decade. Women all across the country are looking to establish themselves and venture into different career options to start a stable income of their own.
According to a recent study, India has the highest number of successful woman entrepreneurs in the world. There are more than 8.05 million women entrepreneurs in the country, constituting approximately 14% of the entrepreneurship. Out of this, almost 2.76 million (13.3%) work in the agricultural sector where the rest 5.29 million (65%) work in the non-agricultural sector.
Studies show that a growing number of women are starting their own small-scale businesses according to their expertise, understanding of their domain, and flexibility. More than 14% of businesses across the country feature women as their founder, director, or chairperson. Moreover, almost 79% of these businesses were self-financed, showing that the female population of the country prefer low investment, easy to setup businesses according to their domain. These entrepreneurs have initiated and popularised a number of business ideas for women in India and had showed a way to develop them into a formidable industry.
A majority of the female entrepreneurs start their business in finance, technology, real estate, retail, and fashion. These sectors allow implementing best business ideas that require substantially low investments and are less time consuming to start.
Let’s take a look at some of the best, easiest and affordable business investment ideas for women in India.
Small scale manufacturing
Women entrepreneurs can manufacture and sell handmade products like candles, toys, sculptures, decorative items, etc. It allows them to exercise their creativity and create a good source of revenue.
Selling homemade products have become significantly easier thanks to the advent of online marketplaces and e-commerce websites. An aspirant entrepreneur can even create a small manufacturing unit making clothing items, jewellery, etc. The necessary financing to establish such units can be secured with the help of a business loan.
Leading financial institutions offer several types of Business Loans including tailor-made Business Loans for Women to help them manage the finances necessary for such initiatives. It provides a large sum of money at affordable interest rates and flexible loan tenor to ease up the repayment process.
Beautician services are one of the most preferred and common business ideas for women in India. Parlour services such as bridal makeup, hair or nail salon require little investment in basic equipment, quality products, and training.
People proficient with sewing skills can start their own tailoring business as it requires very low investment and is easy to set up. It can provide a substantial income especially if the entrepreneur can venture into more luxurious products like delicate embroidery, quilt designing, custom curtain making, etc.
Daycare centres or crèches are quickly becoming one of the popular business ideas for women in India. The demand for such services has skyrocketed as, nowadays, both parents are working individuals. It involves some investment to arrange the facility or to hire workers who know how to provide childcare; however, a Business Loan from a financial institution like Bajaj Finserv can help a woman entrepreneur fulfil the financial deficiency.
Consultancy firms are becoming increasingly popular among women entrepreneurs. An individual with a degree in accountancy, law, management, IT, or even human resource can operate a consultancy firm to cater to their respective industry. Opening a consultancy requires minimum investment as one can turn a spare room into an office.
Blogging is an interesting career choice for women who want to start their home-based business. One can affiliate with certain companies that provide lifestyle, product, or service based offerings and write on their behalf. A willing entrepreneur can start on their own and appoint people as the volume of work increases. It is one of the popular low investment business ideas for women in India as it requires very little infrastructure to begin.
A significant number of the female population in India are career-minded and looking to establish themselves. The above mentioned business ideas for women are easy to launch, requires significantly smaller capital, and a handful of employees; yet, they can offer a great starting point to create their own company and a stable income.
It can be seen that Several government initiatives and credit offerings by financial institutions including NBFCs have allowed aspiring entrepreneurs like Mudra loan, 59 minute loan, stand up India scheme. The easy availability of funds help to take up ambitious projects or to provide everyday capital required to keep the business afloat. A growing internet based marketplace and e-commerce sites also allows them to sell their products online with minimum hassle.