Small businesses are essential to the Indian economy as they contribute 30% of the overall GDP. There are approximately 63.4 million small businesses across the country. Indian women own more than 20% of all micro, small and medium enterprises by 2021. The cosmetics industry is one of India’s fastest growing sectors and stands at $ 6,226.7 million in 2021, and is expected to grow 7.71% per year from 2022. 2025. Here are some of the best business ideas for women in India that you should consider when starting your business.
Writer, Researcher and Marketing Specialist at Shiprocket
Small businesses are essential to the Indian economy as they contribute 30% of the overall GDP. There are approximately 63.4 million small businesses across the country. And women in India own more than 20% of all micro, small and medium enterprises by 2021.
A woman depending on her skills can start a business. There are government loan programs available in India for starting a small business.
These programs offer loans ranging from 50,000 to 10 lakh at an interest rate of 10% under the PM Mudra program and 11-14% for bank loans.
In 2021, the business landscape is changing rapidly due to social distancing and lockdown. It has also accelerated the growth of businesses that you can start from home.
Here are some of the best business ideas for women in India that you should consider when starting your business.
Small business ideas for women in India
Configure your online makeup store
According to a report by Statista, the cosmetics industry is one of India’s fastest growing sectors and stands at US $ 6,226.7 million in 2021, and is expected to grow by 7.71% per year. from 2022 to 2025.
There has been significant growth in international cosmetic brands like Maybelline, Avon, Burberrys, etc. Several national natural, herbal and Ayurvedic products are gaining popularity in India. It is a great business opportunity for women in India because they know how to deliver the best.
Women can have their own makeup store, salon and spa center. It is one of the great business opportunities for young women entrepreneurs. The nail art studio has also become popular among women, so why not make it a business. To start an online makeup store, women need to stay in touch with the latest trends and be the best in the business.
Start a YouTube channel
YouTube channels provide informative and useful videos to many viewers. This is a great business idea for women as YouTube channels are legit in India. You will only need a camera to shoot videos.
You can start with a high-quality smartphone and professional video equipment. It will cost you a few hundred rupees somewhere between Rs. 3K to 1 Lakh per month, depending on your data usage.
You are advised to use a high quality microphone, high speed internet connection, and video editing software. YouTube is a great source of information that can help small business owners reach their target audience.
For example, you start your channel for motivational videos, beauty tips, DIY makeup, cooking, interviews, a family blog, health tips, and more. Initially, focus on a niche; Once you get a good number of subscribers and views on your videos, you can expand your channel to do more.
Become a social media influencer
Becoming a social media manager requires social marketing experience and know-how to manage ad campaigns, analyze results, and track return on investment. Billions of people are on social media and use Facebook, Instagram, LinkedIn and Twitter for business. If you have experience in social media marketing and know how it works, you can start a social media consulting company.
Starting your social media agency is a good business idea for women in India as most companies use social media platforms for their marketing strategies. You can offer multiple packages as a startup service. You have to understand social media as a marketing tool. Research suggests that social media advertising ad spending in India is expected to reach US $ 1,005 million in 2021.
For example, engaging on Instagram and building lists on Facebook would be better goals than sales. With social media channels like Instagram, consumers are increasingly looking for influencers for product marketing.
The reason is that social media influencers help people with their buying decisions. Today, people like to look at genuine product reviews and photos before purchasing a product. This is why becoming a social media influencer is a great business idea for women in India.
So, if you are an aspiring businesswoman, my advice is to get ahead of the curve and do nothing to become a social media influencer.
Start digital selling
If ecommerce is something you’re looking to explore, trying to master it can get a bit competitive, but there are plenty of benefits. It is a perfect business idea for women in India as the days of you had to leave your home to open a store are gone. Today, selling products online on e-commerce platforms like Amazon, Nykaa, Etsy, Myntra, and Flipkart is a lucrative business idea for women in India.
To start digital selling you need to be creative and you can quickly find suppliers for your products. And you will quickly get paid for your simple work. India’s e-commerce market is one of the fastest growing in the world. It is profitable to sell online in India. Nonetheless, the number of online shoppers in India is expected to increase to 220 million in 2025, from 80 million in 2017.
Pick a website that best suits your brand and start selling online to attract potential customers.
Women go to app and website design companies. The apps are used by thousands of people around the world who solve a range of issues from ordering food online and booking beauty appointments, to booking taxis safely to responding to concerns. employees in large companies. Sure, starting a business in the app development industry can be tricky for women, but with the right approach, there are plenty of ways to create ideas for new apps.
One of the benefits of having your app development business is that you don’t need advanced coding skills to build certain apps. You can learn how to build apps with little to no coding skills. Research needs to be done to find the top performing apps in your niche, look at their marketing strategies and every little detail like app description, layout, reviews, etc. You might be able to find a unique app idea that people are looking for. for.
Virtual assistant service
Starting a virtual assistant business is one of the best business ideas with super low overhead. You will need a fast internet connection, general office supplies, a laptop or computer, and basic software. You will need to set up your workspace so that it is located in a quiet area of your home where you can take calls undisturbed.
A virtual assistant company supports administrative, technical, e-commerce businesses and small business owners. As a virtual assistant, you won’t need to go to a designated location. You can start this business from your home. However, that doesn’t mean you have to work from your bedroom. It is good to have a designated area at home for your virtual assistant services.
Virtual assistants are in great demand among e-commerce businesses for all types of marketing, customer support, and live chat activities.
Online writing / Blogging
Another small business idea for women is online writing, freelance writing, or blogging. The rise of online marketing has increased the demand for content creators. Businesses are looking for professional copywriters to create content for their digital marketing that helps them win over their competition.
Online writing, blogging or freelance work is the most lucrative small business idea for women in India because there is no need to invest and neither do you have to work for fixed times.
You can start writing from the comfort of your own home. It would be best to write your thoughts creatively to become a good freelance writer or blogger. Depending on your expertise and your niche, you can opt for a per-word payment that can range from INR 1 to INR 5 for monthly payments.
You don’t always need to work only from home. Without investing in your private office, you can work from shared office spaces. Freelancers work in cafes and pubs sharing expenses. They work with people in a whole new way and beyond their professional field.
For women in India, starting a business is now easy. It’s just about living your dream. You can choose any of these innovative business ideas and become financially independent. Follow your passion.