The last couple of years have been a golden period for Chandigarh business industry that witnessed new and unique business ideas invading the region.
Challenges and opportunities have always been the two sides of the same coin. Any emerging or established business faces several kinds of challenges and opportunities throughout their business journey.
The growth rate of the Indian business industry is being noticed worldwide, generating opportunities for aspiring entrepreneurs and business owners. Meanwhile, as India is emerging as a business nation in whole, cities like Chandigarh are heavily contributing towards this growth rate.
The last couple of years have been a golden period for Chandigarh business industry that witnessed new and unique business ideas invading the region. Despite being an alien region for many business owners, the Chandigarh market enthusiastically accepted many business ideas proving the opportunity lying in the city of Chandigarh.
But along with opportunities come several challenges that the region presented to the investors that looked to establish a business of their own in Chandigarh. Some failed while the other succeeded in running a business of their own.
Opportunities for Businesses in Chandigarh
Chandigarh, in specific, has been the region that provided constant business opportunities to the aspiring entrepreneurs and investors. With time, these opportunities are expected to increase while various business brands will continue to dominate the Chandigarh’s region.
Opportunities for educational institutes:- As the city is emphasizing in developing a pollution-free industry in Chandigarh, the region could prove to be an ideal location for investors that are willing to invest in educational institutes, especially Information Technology training institutes. IT/ITES. Bio-Technology, BPO, and Electronic industry are other sectors that hold great potential.
Food & Beverage Industry:- Being the prime central location between the agriculturally rich states of Punjab and Haryana, Chandigarh has enormous potential for the food and beverage industry that has been emerging as one profitable business opportunity in the city.
Tourism and Hospitality Industry:- Rightly being called “The City Beautiful”, the city offers ample amount of opportunities for the tourism and hospitality industry. Chandigarh’s rich ancient monuments and infrastructures contribute as tourist attraction factor in and around the city.
Challenges for Businesses in Chandigarh
While some business owners enjoyed the pleasure of being successful, others had to face several difficulties while working along the challenges the city presented. Thus, it becomes essential to understand the challenges lying in the region before planning to establish a business of your own in the city.
Space Issue:- Chandigarh often faces a common challenge of space issue while allowing any business to mark their presence in the region. The rapid growth of industry in this region has created a little space for allotment, eventually leading to not enough space for new industries.
The issue with Power Supply:- Despite being an IT hub, Chandigarh is facing frequent unscheduled power cuts and erratic power supply that is essentially required to run the industries. This is one major challenge that needs to be sorted for ensuring the smooth functioning of industries situated in Chandigarh.
Those who want to start their own business or take up franchisees can join in the FRO 2019, happening in Chandigarh on 19-20 January, to know more about the franchise business, financial advice, and business advice from the experts. Meet the investors personally and participate to change the small world of business.