You wish to start a small business in India but you have no ideas how to begin, have you?
Read our article which deals with the small business ideas in India.
How to start making business in India?
The main principle of business in India can be formulated like this: it’s always extremely important in which district you open your organization.
In India, there exist free economic zones where the business is easily registered.
Beyond these zones you are able to open your company only after you have the permission to do it – you’ll have to visit plenty of institutions in order to get the permission to conduct your work.
This is the country of contrasts where you may either get lost in the bureaucracy or simply get round.
The conditions of having your business in India
There are about 3 500 000 registered small and medium businesses in India. However, if you add there the so-called micro-enterprises, the number will vary between 30 and 37 million.
The laws vary greatly from one district to another, though the main principles are the same for the whole country.
If you are going to conduct business in India, one of the best ideas will be to start with the more developed regions.
Before you do it in the distant areas, you’d better think it through: will you be able to have high profit in the place without phone connection or the Internet, the areas with no electricity, where the infrastructure is not developed and the population has extremely low income?
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4 peculiarities to which you should pay attention
Small business in India is very widespread.
Here one may find plenty of unusual fabrics.
For example, big money is made on collecting of the waste (mostly the representatives of the lower strata of society are involved in this industry).
The country lacks working places, that’s why the government is interested in stimulating the development of the private entrepreneurship.
The citizens themselves actively encourage it and go to work there.
The labor pool is 500 000 000 people by some assessments and 250 000 00 of them find it difficult to find a job.
Consequently, the payment is extremely low in this country.
Besides, you should not forget that at this stage India is the agro-industrial country.
60 % of the population here is busy with the agriculture.
Most entrepreneurs also start with handicraft industry and agribusiness.
6 significant conditions to develop one of the business ideas in India
The important peculiarity, which you should take into account starting the entrepreneurship in India, is that according to the law a foreigner cannot buy a land parcel there.
That’s why you’ll have to rent it.
Moreover, you’ll always have to report for which purposes you rent it.
Many foreign businessmen open IT business in India because you are free from taxes for 10 years there.
In addition, it will be profitable to work in the sphere of tourism or trading there.
You should take into account that India is a very bureaucratic country.
You’ll have to get a special identification number and the certificate of the digital signature.
- The enterprise must have at least two founders with the Indian tax reference number, which according to the law can get anyone, even if a person is not the country’s citizen.
Speaking about the location of your future company, as a rule, the foreigners in India conduct their business in the resort regions.
The most popular area is Goa where one may work in the hotel industry or open his own restaurant, touristic company or work in the sphere of sports.
- However, you should definitely take into account that without the visa for the business activities or residence permit a foreigner is unable to do the manufacturing in India legally – he’ll be allowed only to check how his company works.
14 small business ideas in India which are sure to bring you much money
This is the type of goods which under no conditions leaves the market because people always have to eat regardless of the crisis or difficulties.
The idea of such service appeared not long ago but it became popular very fast.
Managing the real estate.
If your hobby is real estate but you are reluctant to invest much money in the purchases, an interesting idea will be to launch a firm which manages real estate.
You should only study how to file all documents properly.
Planning the weddings.
Such events in India are usually organized on a large scale.
In most cases, the newlyweds lack strength or time to organize the wedding on their own.
You may plan weddings and make your own small business out of it.
One of the good small business ideas in India is to open a bookstore.
In addition, you may offer stationery, student’s books, and fiction.
The trade is likely to bring you high income when you approach it with novelty and acquire excellent skills in the sales.
Cleaning the rooms.
It’s quite a nice option and one of the small business ideas in India.
Offer the local hotels to clean their rooms and maintain order there.
You may work with several hotels simultaneously and multiply your income this way.
However, you have to know marketing well enough to start such organization.
Delivery of the products.
This type of small business is likely to help you make money.
Offer your clients to deliver their products for a certain price.
It is an industry where everyone’s earnings can be rather high.
You might become the yoga instructor and hold the classes.
In case you like jewelry, you are able to transform your passion towards the beautiful things into the profitable corporation.
However, you must broaden your knowledge in this sphere in order to start your own company.
One is able to begin his business producing various items from the glass.
At first, you should manufacture only several types of items and then gradually widen the range of goods.
You must study the tastes of the customers and produce the corresponding products.
Every day new blogs and sites are created.
As a rule, someone has to promote them.
Provide people with the services of the SEO specialist and make your hobby a profitable business creating a mini firm of SEO services.
Gifts to orders.
In case you have good taste, you know how to pick the presents and wrap them in a beautiful package; organize your own business of selling gifts for various holidays.
Contact the manufacturers of souvenirs to create the perfect gifts for your customers.
An ice-cream shop.
Such dessert is not a seasonal pleasure anymore and you are sure to profit from the decision to open this business.
There must be plenty of various tastes to satisfy any client of your ice-cream shop.
Besides, you may create unique receipts of ice-cream and attract even more clients.
In case you create items from clay and it’s your hobby, you should definitely turn it into a business.
Open a workshop right at home and you will be busy with the things you like and receive money for it.
These are the usual disposable cups made of paper and are covered with plastic inside, lest the liquid got through them.
Paper cups became very popular all around the world.
They are not only are ecologically clean but also completely harmless for the human organism.
Do not hesitate to start this business because such cups are used everywhere: companies, educational institutions, cafes, snack bars, canteens, and supermarkets.
Small business ideas in India offer you plenty of options to make money.
There exist many advantages in developing small business in India – the foreign investments and control of the planning committee, the increased poverty of the local population and the huge bureaucratic schemes.