Small Startups Ideas at Home for 2024
Have you always dreamed of making money at your comfort zone, at your own living room? Well, starting a small business at home might be the right solution. When starting a business always requires a lot of capital but this is not in all case. Here, are some ideas listed below for the business at home acquiring knowledge, skills and low entry cost. Read further for more information about them and start your new journey of entrepreneurship.
Small business ideas in village
India has a great potential in rural areas and small towns in terms of business start-ups and cottage industries. Agriculture is the main reason for businesses in rural areas.
Aatmanirbhar Bharat, is the idea proposed and supported by government is all about becoming technically and financially self-dependent. It encourages the entrepreneurs of new age to have a risk and become confident in their approach. With the enhancement of maximum resources in village more than 70% of population of villages and rural areas get opportunities to start new business.
Some of the business ideas for small towns or villages for new entrepreneurs are as grocery store, setting up of mill, poultry farming, organic farming, dairy farming, candle making, jute bags making, clothing stores, fertilizers and seed storage, fruits and vegetables shops etc.
In India the dealership business is increasing dramatically. The idea of dealership business refers to developing a business with right to sell company’s product under the name of company. Dealership business creates a strong network between suppliers and distributors either the retail store or online markets.
There are various areas of dealership business in India to have successful ventures are automobile Dealership business, Food dealership business, Healthcare and beauty products dealership business, jewellery dealership business, furniture Dealership business, construction and materials business, Apparel and textile dealership business, Chemical dealership business, Ayurvedic medicines, Grains and wholesale dealership, Children’s toys, plastic products, Office supplies, Gifts and handicrafts, Sports equipments etc.
Small business balance sheet
A balance sheet is the statement of business’s liabilities , assets and owners equity of any given date. By examining the balance sheet and income statement small businesses can be better understand the relationship of the two reports. Your balance sheet will be divided into two categories cash and cash equivalent assets on one side and Liabilities and equity on the other. Documenting the financial details of your business will provide you a thorough understanding of availability of cash flows so that you can make informed decisions about the viable future of your business.
Small business government schemes
For a startup, an existing business, or a well-established enterprise, funds are the fuels that speed up its growth. Now a days, so many banks are offering business loans, the Indian government has also taken initiative as a money support hand for start-ups as well as existing business too to keep their operations running. There are few schemes that are working in various sectors as Science and technology, manufacturing, agriculture, health care and many more.
Some of the schemes are Pradhan MantriMudra Yojna (PMMY),Ministry of micro, small and medium enterprises (MSME), Credit guarantee scheme,(SIDBI) Make in India soft loan fund for MSMEs (SMILE), Stand up India, Bank credit facilitation scheme and many more. MSME loan of upto 5crore will be deposited to your account in less than 60 minutes and rate of interest starts at 8.5 %.
SMILE UNDER MSME scheme is designed in such a way that it gives financial support as well as facilitates investment, protects intellectual property, and enhances skills. Stand up India scheme is providing bank loans from 10 lakh to 1 crore for SC and ST. These business scheme loans are also available online. You do not need to go to banks for documentation.
Small business credit cards
As we know business cards are made for small and medium businesses as well as large corporate and multi-national corporations, these cards are available for anyone who is interested in having a separate business account. Some of the credit card are in India 2023 IndusInd bank corporate card, SBI platinum corporate credit card, Axis Bank business credit cards, HDFC business platinum corporate credit card and many more.
The bank offers loans for MSME customers with simple documentation. Every business for their day to day transactions needs a current account. Current accounts have higher transaction limits as compared to other accounts. This also allows you to deal with maximum transactions.
Small Business Economics is a reviewed academic journal that publishes original, rigorous theoretical and empirical research that deals with all aspects of entrepreneurship with special emphasis on economic and societal relevance.
Small business in Delhi
Delhi is the national capital, and for many ages, it has been well known for its bazaar, markets, unique items, and business hub. Chandani Chowk is the best example of this. Transportation services, crafts, technology ancient arts are easily available in business in Delhi. Handmade gifts and decorative items, soaps and organic health care, the fitness center at home small scale water filtration, tiffin meal service, and as many such examples of businesses in Delhi.
There as various online sources also available for business and offline such as app development, coffee shops, day care business drop shipping, freelancer coding, Google, pet business digital marketing, etc. UtakarshKawatra founder of my HQ,Bhavish Agrawal founder of Ola, Sreelakshmi Suresh founder of e-design and technology and we all know Mukesh Ambani(reliance industries).
Nowadays in India home business is increasing day by day. Mostly the women are engaged in it. Tailoring, juice points, breakfast corners, blogging, vlogging, cookery classes online, dance class centers yoga instructors, wedding bureau, real state business counseling etc.
Thus lastly we can say that small businesses have a significant impact on local communities and their economic development. They are community-oriented, utilize local resources, and create job opportunities, contributing to social and economic well-being. It can help bridge the relationship between rural areas and urban areas. It has enhanced the employment and economic growth rate as well.