More than half of small business owners start their startup to be their bosses, a study by Cox Business has found. Nearly 8 percent of respondents believe profit to be their main motivator. But do you know what others say? Freedom and passion are the primary factors for setting up a startup. Setting up a business involves risk, capital, and market trend.
But have you thought of starting a business with a small investment? Yes, it can happen. There are many business ideas with low capital that can benefit later. Additionally, government schemes support such small business ideas and industries. The Indian government can support entrepreneurs with monetary assistance, and tax benefits through schemes aimed at supporting entrepreneurial efforts and creating employment opportunities.
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Schemes like Atal Innovation Mission, PM Mudra Yojana ❲ease access to credit for micro and small enterprises❳, Startup India Seed Fund ❲providing financial assistance for proof of concept, prototype development, product trials, market-entry, and commercialization❳ and Credit Linked Captial Subsidy ❲help upgrade technology and productivity among small business and make them more globally competitive❳ are few of the initiatives that help entrepreneurs.
Low investment business ideas:
Terrace farming: At a time when the global price of fruits and vegetables is rising, cultivating such crops can help at later stages. With smaller investments and family labour, one can get decent pay after selling home-frown products. Moreover, if the quality of the products matches the domestic and international levels, they can be exported as well.
Tuition and coaching classes: The zeal among students to learn foreign languages is unending. Opening such classes will require minimal amounts of capital. You can keep a teacher to impart lessons or can teach yourself if comfortable. It can provide high returns if things go well.
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