Small Scale Industries are the backbone of any economy. They are the main source of employment and account for a major share of the country's industrial output. Small Scale Industries are characterised by their low level of technology, low capital investment, low level of productivity and small size. There are a variety of best small-scale industries for those interested in starting their businesses.
1. Cake Baking Business
The cake baking industry is a $2.5 billion dollar industry in the United States. It is a highly competitive industry with many small and large players. The industry has seen steady growth in recent years, and it is forecast to grow at a rate of 2% per year through 2020.
There are three main segments in the cake baking industry: retail, commercial, and industrial. The retail segment is the largest, accounting for more than two-thirds of the market. The commercial segment is the fastest-growing, and the industrial segment is the smallest.
The cake baking industry is highly fragmented, with many small and medium-sized players. The top 10 players account for only about 25% of the market. The industry is characterized by intense competition, and players must continually innovate to stay ahead of the competition.
The key drivers of growth in the cake baking industry are population growth, rising incomes, and the growing popularity of baked goods. The industry is also benefiting from the growth of the specialty foods market.
The cake baking industry is facing several challenges, including health concerns, the sugar tax, and the rise of healthy eating trends.
The cake baking industry is a $2.5 billion dollar industry in the United States. It is a highly competitive industry with many small and large players. The industry has seen steady growth in recent years, and it is forecast to grow at a rate of 2% per year through 2020.
2. Candle Making Manufacturing Business
The art of candle making is one that has been around for centuries. It is believed that the Egyptians were the first to use candles, and that they were made from animal fat. Today, candles are made from a variety of materials, including paraffin, soy, and beeswax.
If you're interested in starting a candle making business, there are a few things you need to know. First, you need to decide what type of candles you want to make. There are a variety of different types, including tapers, pillars, votives, and tealights.
Once you've decided on a type, you need to decide on a scent. This can be a difficult decision, as there are hundreds of different scents to choose from. You also need to decide on a color.
Once you've made these decisions, you need to purchase the necessary supplies. This includes wax, wicks, scent, and color. You can purchase these supplies from a variety of different places, including online retailers and craft stores.
Once you have the supplies, you need to create a business plan. This will include information on how you plan to market your candles, how you plan to price them, and how you plan to make them.
3. Pickles
In India, especially in southern part of the country, almost every meal includes pickle. Pickles are extremely popular in Indian household and they are a traditional food item that is in demand. In the past, people used to make pickles at home and store it, however in the current corporate world where almost everyone is working, it becomes almost impossible to have the time to make pickles.
This is the reason ready-made pickles from shops are becoming famous, and if a pickle business is started at home it is welcomed by customers. Home-made pickles are more healthy and reliable. An average investment of Rs. 20,000 to Rs. 25,000 maybe sought for starting a small-scaled pickle business at home.
Handmade Chocolates:
There’s nothing quite like the taste of handmade chocolate. Unlike the chocolates you buy at the store, the flavor of handmade chocolates is unique and complex, with a depth of flavor that you can’t find in commercial chocolates.
Handmade chocolates are also made with a lot of love. The chocolatier takes the time to select the finest ingredients and to carefully craft each chocolate by hand. This attention to detail results in a chocolate that is not only delicious, but also beautiful to look at.
4. Jute Bags
Jute bags are biodegradable and reusable making them highly beneficial for people on a daily basis. Especially in the present situation where plastic bags are discouraged and people are seeking to use environment-friendly products, jute bags are in demand. Apart from their necessity for shopping and storing products, they are also priced according to their designs – the more fashionable the bags, the more price people are ready to pay for the product. Making jute bags and selling them can hence be a profitable business.
A capital investment of approximately Rs. 50,000 to 1 lakh could be required to start the business.
5. Organic Soaps
Organic soaps are highly in demand today because of their uniqueness and because they have good skin benefits. These soaps are acquiring a new place in the market due to their demand and it is one of the best small businesses to start. Raw materials such as oil, microwave oven, moulds, herbs, etc. to make organic business.
An investment of about Rs. 1.5 lakh to Rs. 2 lakh would be required for a production that is scaled.
6.Nursery/Garden Products
Nursery and Garden products are almost always in demand, and in recent times, plants have also become pieces of décor apart from being kept in the balcony. There are several indoor plants that people demand and there are even small areas on the terrace/outside the house which people desire to turn into a small garden. This is the reason nursery and plant businesses can be amongst the best small businesses. A person would require things like pots, mud, etc. to start such a business.
7.Handicraft Sellers
Handicraft is an art that is cherished and loved by many. Most people love to own and display hand-made products as they exhibit a sense of originality and craftsmanship making the products they make unique. Not much investment is required for handicraft business, and many handicraft products such as photo framers, pots, wall-hangings, etc. can be made with low investment.
Also, people who are truly interested in handicrafts are willing to buy such products at a price much higher than those that are machine-made. Many business opportunities are available in the present day due to the number of products and the amount of population in the country.
Starting a business, even a small one, is not only nice in the sense that an entrepreneur gets to control his/her work, but it is also an opportunity to explore and venture into selling those products or services that one has a passion for. Several online businesses have been established during the pandemic and it has become a good way to be engaged and make money by sitting at home as most of the small businesses can be started from home.
