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Entrepreneurs 2017-10-24

Most Cost-effective Business Ideas for Aspiring Entrepreneurs

India 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.

By Senior Sub-editor
Most Cost-effective Business Ideas for Aspiring Entrepreneurs

As the saying goes by "The value of an idea lies in the using of it." —Thomas Edison, General Electric Co-founder.

Similarly if you really want to dedicate your time, energy, money and everything in between in starting a business, might as well go for ideas, which will utilize your skills and interests you both monetarily and heartily.

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.

Here is a list of some of the most profitable business ideas:

Restaurant Business:

People are flocking in the city day in day out, from every corner of the world. What better option is than opening a restaurant, which serves all types of cuisine or masters in serving a very traditional dish of that particular place!

Tourists like to visit such places where they can actually get something of their taste or something related to traditional, authentic cuisine of any particular place.

Open a restaurant business and count the money, you are going to earn after that.

Custom Make Gift Shop:

This might sound trivial but people are actually fond of customized gifts and are ready to pay anything if they get what they want.

Gone are the days when a greeting card was all in the name of gift, now people have plenty of options as if the ear has undergone a creative revolution, everyone want to shoe their creative side.

People actually prefer to design their gift or get convinced only if the idea is better than theirs.

Thus for all the creative fingers and minds, drive them under one roof and stat a customized gift shop.

Wedding Planner:

Weddings are no more limited to decorations and feeding the people. Creative interest has taken the larger area in business today.

People want to cherish this once a lifetime moment all their lives, thus they want the decorations matching to particular one, they have watched in some movie or daily soap, and if you offer them something even better than that, they will load with any amount of money, you charge.

Moreover the pre-wedding shoot and videos are hugely in demand right now.

One just has to select carefully the creative brains and bind them into a team.

Tutorials:

There is no other business, which can be started with less investment than a tutorial. One just has to look for a space, where he can start his/her tutorials. A couple of items like white board, markets, duster, benches and printer, and you are sorted for the initial few months, before you go for air-conditions or other helping hands.

Everyone is talented in some way or the other; use your talent in learning things, which only you can teach or offer the future generation of the country.

These are some of the most profitable business ideas, which will pay you a guaranteed profit. One just need to figure out what he/she is good at, either in cooking, planning, convincing people or teaching and you are sorted for life.

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