Written by : Rajiv Singh

A Chartered Accountant in UK with 15+ years of experience in FinTech Consulting, Accounting & International Taxation. I enjoy being a Social, Foodie and Father of two young children, reachable at linktr.ee/RajivSingh.

Small Business Ideas from Women in India

Rajiv Singh
Rajiv Singh, CA, FAIA

May 21, 2021 02:46

The number of budding women entrepreneurs in India has witnessed a huge increase in the past few decades. Women are no longer limited to the boundaries of domestic chores and are turning to entrepreneurship to pursue their passion. Due to globalization and the integration of technologies into everyday life, women are exploring innumerable opportunities and seizing the chance that is out there. With impeccable determination and perseverance, they are conquering almost every field and sector of the business environs. However, more and more "sheroes" are needed to fill the gap between males and females in the entrepreneurship domain.

According to the Sixth Economic Census, Indian women only own 14% of businesses in India. It also outlined that most of the women-owned businesses are startups and self-financed. Statista noted that among female business entrepreneurs, 20.44% own micro-business, 5.26% own a small business, and 2.67% own a medium enterprise.

These figures undeniably showcase that we still need more women to take things into their own hands and evolve as powerful self-made women. Commencing a business from scratch can be difficult, but using your skills for extraordinary endeavours and presenting them creatively can change the game for you. Here we enlist a few small business ideas that you can navigate to earn that independent status for those who are still seeking to be your own boss. These are the few business areas that you can look at for some inspiration to get an effective start.

1. Healthcare

Healthcare has been seen as a women-centric sector for years. But, in recent times, more than the traditional health care jobs, there is a growing inclination for developing a healthy lifestyle. Fitness trainers are in huge demand, especially for teaching dance, Zumba, and yoga. With limited women training centers across the country, the female population is looking for lady coaches to manage their exercises and fitness routines. You can be a yoga guru or a Zumba instructor through professional training and practice. This emerging sector will be an effective field to explore. It is convenient for women who look for stable working timings and low-investment businesses. A private serene room and atmosphere are all it needs to kickstart. You can then gradually move on to professional training sessions for high-end clients. There are almost limitless possibilities.

2. Food sector

Were you aware that only 4% of women are involved in food-related businesses? A survey of the Womensweb website concluded that the percentage of women owning a restaurant or a hotel is still an evolving platform. If you are getting compliments on your cooking skills and experimenting with different dishes, you can shine in the food industry. Still, when it comes to Indian consumers, quality and home-made foods are quite preferred. You can start on as a small-scale tiffin service and then later expand the establishment on demand. Once you have an investment to move forward, plan a theme and open a spacious café to establish yourself.

Efficient delivery service is also a requirement that you can simultaneously get involved with. If you are not into catering, you can earn an income simply by documenting your passion. Food blogging is currently trending, and you can take advantage of the social media platforms to prepare meal plans, favorite dishes, etc. The initial cost for setting up a food business is pretty low and affordable; you can promote your brand using applications like WhatsApp, Instagram, and Youtube.

3. Baking

The most popular activity to commence your business career is through learning baking. Today, people are celebrating almost all occasions with the sweetness of cakes. Baking is an easy skill to master, and if you are good at creativity and artistic skills, this profession will change your life. A designated baker will never go out of business, and to put a foundation to the baking business, you can promote it and share it with your friends and family. The initial investment of such a food business is just the ingredients' cost, and you will get pleasure times as you are baking according to demands. You can also photograph your delicacies to promote the brand and bring aesthetics to get more orders.

4. Freelance writing

You can also try the field of writing. Content creators and content writers are essential for any company. With numerous new companies commencing every month and existing companies trying to update their online presece, writing both creative or business-oriented can provide you with a fair income source. Freelancers are most favored because of the loose prerequisites, and the exciting thing about freelancing is that you can choose the people you work with. Since it is not a permanent job, you can practice it as a side business and still make money out of it. Newspapers require freelance reporters, blog writers, SEO content, and so on, which are thriving areas to try out. Freelance jobs do not require you to be physically present in the company to finish the job. You can work from the convenience of your home and at convenient hours. There are numerous sources to promote yourself, and if you are interested, you can seize the offer even from tomorrow.

5. Personal care

An overlooked field where women always have the upper hand is the personal care business. From home-made natural soaps to organic lip-balms, this is the best creative and most giving kind of job. With the increased awareness for organic and naturally derived products, many people are searching for quality lifestyle products to purchase. All you need is some initial capital to invest in and thorough research. By using Ayurvedic wisdom, you can experiment and provide some creative products with huge market values. Sanitary napkins are another sector that women can delve into. Skin-friendly and eco-friendly sanitary napkins have a huge audience in India. You can work to establish a venture in the personal care segment and earn a decent income from it.

6. Fashion

A fashion business or starting a boutique in your town can be a fruitful idea. The fashion world is a domain that has endless demand for creative and new styles. Understand the customers of your region, their needs and create innovative designs depending on those requirements. A clever and smart business strategy is enough to flourish in this soil. Do your research and exploit social media and the internet for inspiration and promotions. If you are passionate about fashion and possess the flair for it, you can brand your company and expand it to other major cities within no time. You can also try out embroidery, designing, handbags, and other items, and even jewelry to start your venture in the fashion industry.

Several provinces are still not explored or experimented with. Women in India are highly educated and possess immense capabilities to pursue their dreams. If you haven't given this a thought earlier, then it is time to dive into the business territories and grab your chance to establish your mark on the country's economic sector.

Gotaxfile ardently stands to support all aspiring women entrepreneurs!

To bloom into a full-fledged business entrepreneur, you will also need assistance for managing your accounting, tax, and other legal jargon for your business's smooth functioning. Gotaxfile ensures that your business administration aspects such as handling taxes, finances, accounting, and registration processes are intact and never ignored. With us, you can keep the focus squarely on your company and don't have to worry about the various finance and tax-related complications.

Rajiv Singh
Rajiv Singh, CA, FAIA

May 21, 2021 02:46

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