Business Ideas for Entrepreneurship. Profitable Industries for MSME Sector
Over last 5 decades MSME sector emerged as extremely effervescent and vigorous segment of Indian economy. MSME plays dual role of providing employment and industrialization of rural/backward areas, thereby reducing regional imbalance and equitable distribution of national income. MSME’s are harmonizing to large industries as supplementary units, which adds to socio economic development. It consists of 36 million units, providing employment over 80 million persons with 8% contribution to GDP.
Leading industries of MSME sector:
Ø Retail trade (except of motor vehicle & motor cycles) and Repairs of personal and household goods - 39.85%
Ø Manufacturing of wearing apparels- 8.75%
Ø Manufacturers of foods and beverages-6.94%
Ø Other services activities -6.2%, other business activities – 3.77%
Ø Hotels and restuarents-3.64%
Ø Sales maintenance of motor vehicles and cycles – 3.57%
Ø Furniture manufacturing -3.21%, Textile -2.33%
Ø Fabricated metals except machinery and equipment-2.33% and others 19.4%. Three sub sectors demonstrates promising picture: food processing- high potential because of agro linkage, textiles-innovation, and electronics- linkage with ITES.
Though MSME total working enterprises, employment and market value of fixed assets grown at CAGR of 4.39%, 4.75% and 6.64% respectively, the contribution from manufacturing and service sector MSME contribution to GDP is -1.53% and 1.82% respectively. Though government has taken measure to improve the productivity, over last 7 years the MSME contribution to GDP has not increased to acceptable level. It is suggested that government has to adopt integrated policy, providing sound data with efficient governance, promote skill development to increase productivity and providing accessible credit through government sponsored agency exclusively to MSME is essential to increase productivity and contribution to economic growth.
List of Few Business Ideas that will really help you out:
Screen Printing
Screen printing is a printing technique whereby a mesh is used to transfer ink onto a substrate, except in areas made impermeable to the ink by a blocking stencil. A blade or squeegee is moved across the screen to fill the open mesh apertures with ink, and a reverse stroke then causes the screen to touch the substrate momentarily along a line of contact. This causes the ink to wet the substrate and be pulled out of the mesh apertures as the screen springs back after the blade has passed. Screen printing is also a stencil method of print making in which a design is imposed on a screen of polyester or other fine mesh, with blank areas coated with an impermeable substance. Ink is forced into the mesh openings by the fill blade or squeegee and by wetting the substrate, transferred onto the printing surface during the squeegee stroke. As the screen rebounds away from the substrate the ink remains on the substrate.
Screen T-shirt printing machines are being increasingly used to print T-shirts, having same design, in bulk to meet rising demand from large companies, NGOs, and communities etc. in Asia Pacific. As a result, spending on screen T-shirt printing machines is projected to increase by vendors, particularly focusing on providing low-cost customized T-shirts to their customers.
The t-shirt printing machines is highly fragmented with large number of local players in each regional market. Some major players in the global custom t-shirt printing market are Brother International Corporation, Seiko Epson Corporation, ColDesi, Inc, Kornit Digital, the M&R Companies, Mimaki Global, Anajet, Konica Minolta, Inc., Mutoh Belgium nv, Mciroscreen Production Pte. Ltd, KP Tech Machine Pvt. Ltd and several others.
Advertisement Agency
An advertising agency, often referred to as a creative agency, is a business dedicated to creating, planning, and handling advertising and sometimes other forms of promotion and marketing for its clients. An advertising agency, often referred to as a creative agency, is a business dedicated to creating, planning, and handling advertising and sometimes other forms of promotion and marketing for its clients. An ad agency is generally independent from the client; it may be an internal department or agency that provides an outside point of view to the effort of selling the client's products or services, or an outside firm. An agency can also handle overall marketing and branding strategies promotions for its clients, which may include sales as well. The Indian advertising industry has evolved from being a small-scaled business to a full-fledged industry. The advertising industry is projected to be the second fastest growing advertising market in Asia after China.
India’s digital advertisement market is expected to grow at a compound annual growth rate (CAGR) of 33.5 per cent to cross the Rs. 25,500 crore (US$ 3.8 billion) mark by 2020.*
The Internet's share in total advertising revenue is anticipated to grow twofold from eight per cent in 2013 to 16 per cent in 2018. Online advertising, which was estimated at Rs. 2,900 crore (US$ 435 million) in 2013, could jump threefold to Rs. 10,000 crore (US$ 1.5 billion) in five years, increasing at a compound annual rate of 28 per cent.
Soya Milk from Soyabean
Soy beans have been used for human nutrition for more than 5000 years and soy milk has been known in China for at least 2000 years. Today, soy beans are an important source of protein and oil in human nutrition, especially in Asia. In other parts of the world, soy based foods are consumed merely due to its healthy image. Soy milk is a water extract from whole soy beans. It is an emulsion containing water soluble proteins, carbohydrate and oil droplets. Soy milk was traditional produced in small shops where the soy beans were soaked, grinded, filtered and cooked. These products have a short shelf life. However, today’s consumers, and the modern lifestyle, request products with a longer shelf-life and which remain safe and stable during the complete storage period. Within soy products an increasing consumption around the world is seen in soy products resembling dairy products like for instance milk, yoghurt and ice cream. These products also make up valuable alternative for people allergic to cow's milk.
The soy beverages market can be segmented into soy milk and yogurt smoothies. Soy-based yogurt smoothies are low-fat and do not contain lactose. Additionally, soy milk provides complete protein nutrition when compared to other types of milk available in the market. India has the second highest projected growth rate after Japan in the Asia-Pacific region.
Neon Bulb
A neon lamp (also neon glow lamp) is a miniature gas discharge lamp. The lamp typically consists of a small glass capsule that contains a mixture of neon and other gases at a low pressure and two electrodes (an anode and a cathode). Neon lamps are gas discharge lamps that contain neon gas at a low pressure, enveloped in a glass capsule. Gas discharge lamps emit light when electric light is passed through the gas. Neon lamps have been used widely in neon sign boards. They provide a distinct orange glow. Neon lamps contain either neon gas or a mixture of neon and mercury vapor. They were developed in the year 1917 by Daniel Moore. Colors other than orange can be obtained from neon lamps by using different phosphors for coating the glass tube.
World demand for lighting is projected to climb more than 12 percent annually through 2016 to $78.3 billion. Sales will be driven in general by an acceleration in economic activity, personal income, global motor vehicle output, and construction spending.
Ice Making Plant
Water when made into a solid mass by the application of cooling is known as ice. It is one of the essential medium for short-term preservation of highly perishable commodities such as marine foods, fresh meat and poultry products, dairy products and fruit and vegetables. These goods can be stored for about 2 to 3 days with ice. This fact facilitate the transportation of these foods to the consumer market. Ice is also used in the chemical, pharmaceutical, canning and freezing industries. Besides, it is being used for children and serving synthetic or fruit beverages, Jellies, etc.
The term ice plant is used in this note to mean a complete installation for the production and storage of ice, including the icemaker itself that is the unit that converts water into ice together with the associated refrigeration machinery, harvesting and storage equipment, and the building.
Ice plants are usually classified by the type of ice they produce; hence there are block ice plants, flake ice plants, tube, and slice or plate ice plants and so on. Ice plants may be further subdivided into those that make dry or wet ice. Dry ice here means ice at a temperature low enough to prevent the particles becoming moist; the term does not refer in this note to solid carbon dioxide. In general, dry subcooled ice is made in plants that mechanically remove the ice from the cooling surface; most flake ice plants are of this type. When the cooling surface of an icemaker is warmed by a defrost mechanism to release the ice, the surface of the ice is wet and, unless the ice is then subcooled below 0°C, remains wet in storage; tube ice and plate ice plants are of this type.
The global ice maker market will grow steadily during the next four years and post a CAGR of more than 8% by 2021. The increasing demand for ice makers in the healthcare industry as one of the primary growth factors for this market. The healthcare industry increasingly uses ice maker machines for various critical applications such as storing organs and for rehabilitation procedures. Additionally, a number of biochemistry, microbiology, biotechnology, and genetic engineering laboratories also have a constant need for ice to store biological samples and warrant transportation to other facilities. Moreover, the rising popularity s that is mainly used in the treatment and healing of various sports injuries, will also increases the demand for ice for ice bath and massage, in turn, fueling the demand for ice making machines.
Pineapple Slice Canning
Canned pineapple is the product (a) prepared from fresh, frozen, or previously canned, mature pineapple, conforming to the characteristics of Ananas comosus (L) Merr. (Ananas sativus (L) Lindl.) and from which peel and core have been removed, packed with water or other suitable liquid medium; it may be packed with nutritive sweeteners, seasonings, or other ingredients appropriate to the product; and processed by heat in an appropriate manner before or after being sealed in a container, so as to prevent spoilage.
Total annual world production is estimated at 14.6 million tonnes of fruits. India is the fifth largest producer of pineapple with an annual output of about 1.2 million tonnes.
Chrome Plating
Chrome plating (less commonly chromium plating), often referred to simply as chrome, is a technique of electroplating a thin layer of chromium onto a metal object. The chromed layer can be decorative, provide corrosion resistance, ease cleaning procedures, or increase surface hardness. Sometimes, a less expensive imitator of chrome may be used for aesthetic purposes. Chrome plating is more reflective (brighter), bluer (less pale, grayish, or yellowish), and more specular (the reflection is deeper, less distorted, more like a mirror) than other finishes. Chrome Plating is an electrolytic process utilizing a chromic acid based electrolyte. The part is made the cathode and, with the passage of a DC current via lead anodes, chromium metal builds on the component surface.
Increasing demand from the passenger vehicle segment on account of easy availability of credit facilities is expected to fuel industry growth. This in-turn is expected to increase the demand for chroming for various interior and exterior automobile components. Also, the chromium is widely used for various two wheeler component as it improves the aesthetics and also possess properties such as corrosion resistance, and wear resistance. Chromium plating process involves different steps which include degreasing, cleaning dirt & impurities, different types of pretreatment varying according to substrate material. However, stringent environmental regulations are expected to pose a challenge to the industry growth over the next nine years.
Brass and Aluminium Hinges
Brass is a metallic alloy that is made of copper and zinc. The proportions of zinc and copper can vary to create different types of brass alloys with varying mechanical and electrical properties. Aluminum Hinge comes in various sizes to fold and clip for different types of door panels used in more. The product is designed utilizing the finest grade aluminum and other allied material as per the global standards.
Stainless Steel Cutlery
Stainless steel Spoons, Forks and Stainless steel knives are very commonly used items in households and restaurants. The usage of these items were restricted to a few hotels in the past. But, now a days these items are used in almost all hotels. With the growth of standard of living the consumption of these are increasing day by day. The number of households in the country is increasing with the increase in population of the country and there is a heavy backlog housing shortages to be fulfilled. This will boost up the demand for stainless steel spoons used in households. Besides this there is separate demand for spoons, forks and knives from hotel and restaurant sector. The number of hotels and eating houses in the country has been increasing with the increase in hotels tourist activities and general standard of living.
The global cutlery market is expected to increase on account of several factors such as increasing number of household, growing property market, and rising disposable income. Analysts at Beige Market Intelligence expect that the global cutlery market to grow at a CAGR close to 6.7% during the period 2016–2022.
Ammonia Paper (Blue) Print
There is good demand and need for ammonia (blue) prints in any part of the country, since there is a very good rapid growth of construction activity. Before commencing of the construction work, the plans will be approved by Panchayat Municipality. For getting approvals of the plan, individuals/organisations require a number of copies. Even after approval also number of copies are required for obtaining financial assistance/electrical supply and water supply) connections, etc. the copies of plan can be obtained by Ammonia (Blue) print process.
Barium Compounds
Barium compounds are those chemical compounds which contain the element barium. For an alternative listing of barium compounds. Compounds of barium, especially barite (BaSO4), are critical to the petroleum industry. Barite is used as a weighting agent in drilling new oil wells. A weighting agent is a material that adds body to petroleum.
Barium is being increasingly used in various industries due to its high level of chemical reactivity. Some of the commonly used derivatives of barium are barium nitrate, barium oxide, barium sulfate, barium titanate, barium chloride, and barium carbonate. Among these, barium sulfate is massively popular and highly acknowledged for not having hazardous effects on humans as well as the environment. It is widely used in the manufacturing of polystyrene and polypropylene and thus, the soaring demand for these compounds in the packaging industry is stoking the growth of the global market for barium sulfate.
Gravure Printing Cylinders
A gravure cylinder comprises a (typically) steel cylinder base, or an underlying metal structure that supports the engraved image-carrying layer. There are two primary types of cylinder bases: sleeve cylinders and shaft cylinders. A sleeve cylinder differs from a shaft cylinder in that it needs to have shafts attached prior to installing it on the press, whereas a shaft cylinder, as its name indicates, comes with shafts attached. The disadvantages of a sleeve cylinder include the fact that different shafts (with their own peculiar inaccuracies) are used during different stages of production—engraving, preparing, and printing—which create inaccuracies in the engraved image and, ultimately, in the printed image. Shaft cylinders, utilizing the same shafts at each stage of production, are remarkably accurate and, not surprisingly, are the most widely-used cylinder bases.
Rubber Belting (V - Belts)
A belt is a loop of flexible material used to link two or more rotating shafts mechanically, most often parallel. Belts may be used as a source of motion, to transmit power efficiently or to track relative movement. Belts are looped over pulleys and may have a twist between the pulleys, and the shafts need not be parallel.
Mosquito Repellent Oil
An insect repellent is a substance applied to skin, clothing, or other surfaces which discourages insects from landing or climbing on that surface. Insect repellents help prevent and control the outbreak of insect-borne diseases such as malaria, Lyme disease, dengue fever, bubonic plague, and river blindness and West Nile fever. Pest animals commonly serving as vectors for disease include insects such as flea, fly, and mosquito.
Pectin from Raw Papaya
Pectin is a structural heteropolysaccharide contained in the primary cell walls of terrestrial plants. It was first isolated and described in 1825 by Henri Braconnot. It is produced commercially as a white to light brown powder, mainly extracted from citrus fruits, and is used in food as a gelling agent, particularly in jams and jellies. It is also used in dessert fillings, medicines, sweets, as a stabilizer in fruit juices and milk drinks, and as a source of dietary fiber.
Pectin is a type of polysaccharide fiber found in the cell walls of plants, specifically in the leaves, roots and fruits. Its main purpose is to bind plant cells together. Pectin is also used in foods to enhance absorption and add fiber to your diet. It’s typically employed as a thickening agent for foods that need to gel or thicken, such as jams and jellies. Lastly, pectin can also be utilized as a fat substitute in some baked goods.
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