The brutal impact of COVID-19 (corona virus) pandemic on businesses are not over yet, but likely to continue for several months post - retreat, till companies get enough time to recover from the severe losses or set back.
As of now, it’s pretty clear that there will be job-reductions, lay-offs, pay-cuts, and freeze the hiring. The economy has been sluggish for quite some time. Now, with this ongoing unprecedented situation due to the corona virus pandemic, the job market will be even tougher. In these documents, we will discuss some useful tips on how to utilize your employability post COVID-19 recession.
Let adopt easy to start business ideas from Society of Innovation, Knowledge for Cost Optimisation (SIKCO).
The entrepreneurial spirit is strong with a lot of people, but starting a business can be a long and arduous process. However, with the right business idea, you could lay the groundwork and get your first gig in a matter of hours.
You know you want to start a business, but you're having a tough time articulating your idea. If you want to become an entrepreneur, it's important to start with a great business idea. All you need is a bit of inspiration. It all starts with an idea that has room to grow over time. This list includes 10 great business ideas that can help you find success in 2020 and beyond.
You don't need money to become a small business owner. The first step in starting a business with no money is to keep your current job and launch your small business as, for now, a side pursuit. Then, develop your business plan and analyze your consumer base, market, and potential challenges. Near the final stages of this planning, you'll better understand how much money you need to start your business.
You can find this money through crowd funding, cards or relatives. Consider taking out loans only as a last resort.
Home based businesses tend to be the most convenient and manageable small business ideas. That said, not all great business ideas are suited for home offices, so make sure your business can be conducted from home – jobs with onsite needs and heavy in-person demands might not be suitable.
Here are some easy-to-start businesses that can help get your entrepreneurial feet off the ground right away.
Let’s go through 10 great business ideas in India’s socio-economical perspectives –
Investment: Nil
Income from: Day one
Earning Potential: 02-03 Lakhs / month
Those who have 9 to 5 jobs don't always want to spend their weekends doing household work. If you have a more flexible job, you could be just the person for this easy-to-start business. https://www.ctrlscrm.com/ providing excellent platform for IT savvy and IT professionals. It can be full time of part time as per the convenience.
We suggest full time to earn handsome amount easily. Automation of business is the need of hour.
Investment: INR 50k - 200k
Income from: Day one
Earning Potential: 06-10 Lakhs / month
E-Commerce is the most futuristic business. In India e-commerce penetration about 4%, where in USA it is around 41%. Multivendor platform like https://www.facilityindia.com offering franchisee partnership district wise and best platform to start immediate business. Virtually no investment of little investment to start with.
There are 27 categories like Agriculture, Automobiles, Civil, Mechanical, Electrical, Grocery, Healthcare, Home Services, Professional Services Real estate etc.
The e-commerce’s competitors are like Indiamart, Just dial, Amazon, Industry buying etc.
Investment: INR 01-05 Lakhs
Income from: After 04 months
Earning Potential: 50k-100k / month
Govt already prioritised agriculture as an industry and scientific control farming is the most risk free investment at own property or in leased one. Fish market is large and revenue flow also is very good.
Hydroponics also can be done later. One can earn good revenue on training on Hydroponics and Fish Farming once the system is stabilised. SIKCO offer end to end training of this and helps starting the business in a month.
Investment: Nil but 100k suggested.
Income from: After one month
Earning Potential: 50k-100k / month
As India developing, every middle and higher middle class family need art, craft, photograph at their home. You can open a virtual shop at facilityindia.com and display hundreds of arts, crafts, photographs to your clients. They can purchase online.
Lot of people also wants to sell arts, crafts, photographs as they need immediate money, you can buy them, made them online and get good amount of income.
Investment: Nil but 200k suggested.
Income from: After one month
Earning Potential: 2 lakhs-10 lakhs / month
As India is an Agri based country, every area has high potential of different farm products with best rates. Normally non uniform distribution results the huge supply demand issue in our country. One can just identify10 product areas and list products from 100+ suppliers at agriculture category.
List out best prices, book and sale in bulks. Huge income opportunities. FacilityIndia/Agriculture has the best in class product catalogue in e-commerce.
Investment: Nil
Income from: One month
Earning Potential: 50k -3 lakhs / month
In India, service industry has high potential as urbanisation increasing. You can buy top listing place at facilityindia.com and make service catalogues covering all services. Client will buy the services and you can supply the same. There is a huge income opportunities.
FacilityIndia/Services (Home/Professional/Engineering) has the best in class product catalogue in e-commerce. It may take time but once business established, good amount of assured income is there.
Investment: Nil
Income from: Immediately
Earning Potential: 50k - 2 lakhs / month
Helping small businesses, SME, MSMEs to make appropriate business catalogue, images, contents, managing the portals can ensure good revenue.
There are huge requirement of technical / training consultants for facilityindia.com and ctrlscrm.com or other e-commerce business.
Investment: 2-5 Lakhs
Income from: One month
Earning Potential: 50k - 5 lakhs / month
Start selling industrial products and solution made by industry leaders. Make online catalogue and starts taking booking. Approach corporate, builders, housing societies for power pack, small grid tied solution selling. It will be the best way to sell engineering innovative products.
Small wind turbine or small biogas plant also can be sold online.
Solar pumping has good future with DC application. Ex. ½ hp DC surface pumping solution is available by 30000/- with 30-40% margin.
Investment: 2-5 Lakhs
Income from: One month
Earning Potential: 50k - 5 lakhs / month
There was a time when only the rich had factory or manufacturing unit. Those days are long gone. People are getting process plant at tiny space and do packaging business in Lakhs. Start grains, powder, spices packaging business. Supply it to groceries, medical shops etc.
Retail business is futuristic and lot of improvements, varieties possible with time. Low value to high value product marketing give an edge for a cash carry business.
Investment: Nil
Income from: 01-03 months
Earning Potential: 50k - 5 lakhs / month
If you an engineer (Preferably electrical / mechanical) with sound technical knowledge, good qualification and adaptive in new technology, you can start as a energy consultant offering energy auditing, cost optimisation, energy consultancy.
A good incentive possible from the product company, user and energy auditor too. Repeat business or reference business makes this experience worthy.
By MILTON SIKDER
News 08-08-2020 13:11:05
