Tuesday, August 30, 2016
Top 5 Local Business Ideas for entrepreneurs with low investment in Hyderabad
Hyderabad is the next big business opportunity for many entrepreneurs and Startup's . Why? The reason is because of their rapidly growing economy and a massive population; which is fifth popular city in India. It is quite understandable that everyone needs a constant source of income, but most people do not have a huge amount of capital to start a business. So in this article, I decided to do a compilation of the top 10 low cost small scale business ideas in India. These opportunities and ideas can be acted upon by men, women,students, kids, teenagers, employees, etc. How to Start a Business in India Successfully i. Choose an Industry in Hyderabad If you want to start your business in Hyderabad, the first thing that is expected of you to do is to choose an industry where you would want to build a business in. There are several highly thriving business opportunities in Hyderabad, and it is expected that you decide on the industry to build your business based on your area of strength. For example, the I.T. industry is one of the thriving industries in Hyderabad and there are countless numbers of business opportunities available in the industry. ii. Conduct Your Feasibility Studies on your Budget-: Once you are able to make up your mind on the industry to build your business, the next step that you are expected to take is to conduct feasibility studies. Hyderabad is a unique State when it comes to setting up businesses; a business that can thrive in one region will likely fail big time in another region. So, you are expected to conduct your own feasibility studies in the region you intend starting your own business. iii. Write Your profitable Business Plan-: Irrespective of what part of the world you intend starting your business, the norm is that you are expected to write a workable business plan before launching the business. Consequently, if you are starting a business in Hyderabad, you are also required to write a business plan. The truth is that without a good business plan in place, you are likely going to struggle to build a business from the scratch in India. The competition amongst entrepreneur is much in India; every business owner would want to outsmart their competitors. That is the reason why you need to draft a workable business plan that has unique business strategies. iv. Register Your Business based on budget:- As it is required in most countries of the world, you cannot legally operate a business in India without registering the business with the government.There are many types sole-proprietorship, Partnership, LLP, Private limited and Public Limited. If you run a business that is not registered, there is a limit to the height the business can grow to. The ministry of corporate affairs (MCA) is in charge of registering business in India, so you are expected to visit their office to make enquiry of the requirements needed if you want to register a new business in India. Basically there are four categories of company registration in India you will be required to choose from any of them when you want to register a new business in India. v. Join Professional Networks for more business communication:- One of the means you would need to survive as startup in India is to join professional networks. Any business built in isolation will struggle to survive in Hyderabad, that is the reason why people look for professional organizations and enroll as a member. The benefits you stand to gain when you join a professional network in your industry are unlimited. Thus, ensure that you look for relevant professional organizations to join once you start your business in India. The Small Business ideas which enrich your profession and network with a good amount of Earnings they are. 1: Paintings The painting skills are more required for Advertisement on buses, walls, posters, Theme paintings, house and commercial paintings, and much more to earn money and Reputation in Hyderabad 2.Digital Photography Almost everybody owns a camera, therefore you'll be able to use may use this widget to come up with a gradual supply of financial gain. Rush ID services are typically explore for, particularly in cities, therefore you'll be able to profit of this. 3.Wooden Furniture making If you are skilled in handicraft, then you can surely earn huge amounts of money from this kind of business. You can create and design wooden furniture at an affordable price for the residents of your community just the way they want it to be. A good relationship with residents of your neighborhood is a recipe for success in this business 4. Home Decorations Creativity really pays off and pays well. People love decorating their homes with vases, chimes, figurines, and other things that can beautify houses. You do not need to buy expensive products like these, but you can improvise and design your own and sell them at low prices 5. Thrift Shops: These are one of the businesses that are sure to become very profitable. Many people like buying second-hand items because they are affordable and fit their budget. Aspiring entrepreneurs in India can sell second-hand items like clothes, bags, and accessories for low prices. These are the top 5 Profitable Business in Hyderabad. and for your support local business directories are available in Hyderabad for more local reach and promotion.