Technavio has released a new market research report on the global SMB and SME NAS market, which is expected to generate revenues of $18 billion between 2016 and 2020.
Prime Minister Narendra Modi’s ‘Make in India’ move has paved way for all the budding entrepreneurs and businessmen.
A study by the market research firm Zinnov said, India, which is home to about 4.88 crore small and medium business ( SMB )s provides employment to 81.16 million individuals and is all set to become the largest SME nation globally.
Micro enterprises account for 95% of total SMBs, small & medium put together hold the remaining 5% share and 55% of SMBs are located out of urban cities whereas 45% are situated in rural areas.
Technavio has released a new market research report on the global SMB and SME NAS market, which is expected to generate revenues of $18 billion between 2016 and 2020. The report also read that global SMB and SME NAS market is set to grow at a CAGR of 33% by 2020.
To be a start up owner, one does not necessarily have to belong to an entrepreneur, or businessmen family. It needs a strong idea, initial investment and enough courage to take that leap of faith.
Here are some ideas to help the under confident aspiring entrepreneurs and businessmen:
To begin with, one needs a professional camera and some photography skills and you are set to start your startup.
There is a huge demand for professional photographers, as we live in the era of Instagram, YouTube and Facebook, where live runs purely on social media.
Be it a pre-wedding shoot, making a short film or web series, a professional photographer is what being looked out for.
If photography happens to your passion, you are half way through into the business, just learn the skill of making money.
If you have the creative ability to decorate houses, or if you want to follow this but lack some skills, there are a lot of colleges, which offer training.
The bottom line is if you really want to pursue this as your startup business, all you need is to bring super creative people under one roof and start working.
This work is very much in demand and there is cut throat competition, so to be in top, you have to be really different from others.
Printed T-shirt Retailer:
Starting an online retailer as a startup is a smart move, because unless you firm your roots in the retailer market, coming up with brick and mortar store might not be a good idea.
There is a huge demand for printed t-shirts, with funky, quirky and witty designs or quotations among the youth. One can venture into the field of online retailing with these merchandises and spread the brand and demand for such products.
One can also hire a creative team to come up with such one-liners and pictures or cartoons to paste on plain t-shirts.
Guides and Translators Provider:
There is a lot of foreigner flock in to different places from other states and countries as tourists and travelers, who do not speak or understand the language of any particular place.
Hence one can come up with a website, which will provide guides and translators of that particular place to help those foreigners.
This idea will work best in the touristic places; moreover it will also provide employment to the localites of the area.
There are plenty of ideas, but one cannot predict which idea is going to work for whom. One should follow one’s instinct when it comes to startup business.