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Here are multiple profitable businesses you can start in India within just Rs.10,000
Entrepreneurship ecosystem in India is booming fast and sees huge growth in the coming years with new innovation and technology.
Are you planning to invest in a business? Do you know what kind of businesses is making maximum profits? It is important to consider a lot of factors while predicting the ever-changing nature of a developing economy, such as that of India’s. Also, it makes a lot of sense to invest in the sunshine sectors or the businesses of tomorrow. If you are an aspiring entrepreneur, then this Portal is definitely meant for you. We have researched the trend of the Indian economy and have dug up the few best future business ideas for maximum profit in and beyond 2020.
The future is not far, so get ready…
With all the developments and Governmental effort India is moving very very fast towards the future. If you just look back 5 years you yourself will understand how much things have changed around around all of us. The next 5 years will change things even faster. So, what we feel is future and will come after quite some time is actually coming very very fast towards us.
So, the future business ideas that may look far away and today there is no possibility of success will become an overnight success all in front of our eyes. So, the point we are trying to make is there is no better time than this to invest in the business of tomorrow.
Why Future Business Ideas? Why is it Important?
To get into business with a futuristic idea is extremely important and beneficial for the following reasons.
# 1 No or Less Competition
Future business ideas are generally not crowded and you will find only 2-3 players in this area. Conventional business is proven and easy to set up, hence more crowded and a lot more competitive.
# 2 Higher Profitability
Competitive pressure leads to aggressive pricing and aggressive pricing leads to a massive fall in profitability. This is the common trap that most conventional businesses fall into. That is mainly because too many players try to make their space with similar or almost similar products and features.
Then the only differentiator left in their hands is pricing. This leads to price war and the fall of profitability. This is what is happening in most of the conventional business now. Take Telecom as n burning example. After the aggressive pricing of Jio, none of the telecom operators is making money.
In a future business area, you stay clear of this trap. Just because there are too few players offering similar products and hence, everyone can differentiate and claim a premium, leading to higher profitability.
# 3 Lot of Unknown Positives
As we said earlier in a futuristic business idea, you are making technology your friend and that why chances are that you will find many more profitable allied ideas on the way and which can open up new revenue and profit source for you.
For example, Amazon was in the business selling products online. Then they found that sellers are willing to pay a lot of money to rank in the top positions in Amazon search. So, just like Google, they also added search ads as a service. And it has become a large revenue earner for Amazon now.
How to Identify and Judge Future Business Ideas?
There is no tried and tested way to identify potential future business ideas. But there are a few common traits that one can look at to identify the same. If some or most of these traits are visible in any business idea then one can research more about it and then finally take a gut call on whether to go ahead or abandon it there.
Traditionally India was the back-end, customer service core for major global MNCs. However, India currently sports a tech-heavy landscape. This is because it has observed a 50% jump in the number of advanced tech startups since ’17. The country has more than 500 million internet users. It is also the second-largest online market after China. We can expect an active implementation of block chain, AI, IoT, and data analytics across multiple technology sectors. For example, IoT in India is presumed to reach a whopping $15 billion by 2020. It will account for approximately 5% of the total global market. On the other hand, AI is predicted to become as big as $ 15.6 trillion by 2030.
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