India has witnessed a remarkable growth in the number of women entrepreneurs in the last few decades. Women today are striding into almost every industry and sector with the help of their entrepreneurial abilities. So, we have presented some of the key business ideas for women, for them to choose and grow as entrepreneurs, depending on their experience, knowledge, skills, and passion.
Top 10 Successful Business Ideas for Women Entrepreneurs in India – April 2023
1. Healthcare/Fitness Professionals
A healthy lifestyle and exercise are being readily adopted by people all over the world. People are practicing a variety of activities like dance, aerobics, and yoga as daily exercise. Women can become professional trainers and can own and manage fitness centers.
Some of the popular and effective business ideas in the Healthcare industry are:
- Yoga and meditation centers: Women can get trained in yoga exercises and have their professional practices as yoga trainers and meditation gurus
- Zumba instructors: Zumba is a famous dance form people are opting for as a regular exercise form. Women can start Zumba classes for people living in their locality
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2. F&B Business
Eating out is the most famous leisure time activity among the youth and even families. Cafes and restaurants are booming these days. Some great business opportunities in the food and beverage industry are:
- Cafes: Cafes are a huge hit among college students these days. They are the hot gathering place for youngsters these days
- Restaurants: If you have the right funding and a great management team, restaurants are great businesses these days
- Home-based catering business: Women who love cooking can start their own small catering business and take party orders for birthdays, anniversaries, kitty parties, etc.
Read about: What are the loan schemes for startups in India?
3. Beauty Care Centres
Beauty care is an industry that women can empower. Women like indulging in beauty care and can make great entrepreneurs at it themselves. It is a great business opportunity since women know what the consumer wants and can deliver the best. Following are some of the best beauty care businesswomen can own:
- Spa and Salon: Women can have their salons and spa centers. Hair and makeup are something women are experts at. One of the great business opportunities for young women entrepreneurs
- Nail art studios: Nail art has become hype among ladies but not everyone is an expert at it. If you are, why not make it a business?
- Bridal makeup studios: Bridal makeup has evolved in recent years. Women can keep in touch with recent trends and be the best in the field
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4. Freelance Writers
If you’re good with your language and have a love for writing, freelance content writing is best suited for you.
- Technical Writing: Most IT companies these days are looking for writers to write various types of content. If you’re good with your language and can write good content, you can freelance as a writer
- Creative Writing: Advertising agencies and several other institutions look for writers who can come up with creative ideas for advertisers, jingles, and much more. You can get in touch with these agencies with your ideas and work with them as a freelancer
- Blogging: You can create your blog and talk about the issue that matters to you. You can put your opinion out there and work on making your blog a success
5. IT & Software Professionals
In this world of technical turnover, there is software for everything. Starting your software development venture is a great small business idea where you can get clients and work on their projects independently.
- Web Development: Companies developing websites for various other businesses or events can be a huge hit
- App Development: Mobile applications are very useful for all our daily needs. All companies are developing mobile applications to make themselves accessible to the public. Establishing an app development firm is a great business idea in today’s times
6. Web/Graphics Designing
Designing is another creative field women can ace. Since we have so many websites floating on Internet every minute how they look is very important. Graphic design changes the look of any website and makes it more attractive.
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7. Bookkeeping & Accountancy Services
It has always been observed how good women are with finances. From housewives to CFAs finance and accounts is something women are specialized professionals. Accountancy firms can be an amazing small business idea for women in today’s times.
8. Businesses related to Women’s Personal Care
Menstrual hygiene is a very important factor in a woman’s life and appropriate products have to be available in the market at reasonable prices. Women can be amazing entrepreneurs in the menstrual hygiene industry:
- Natural Sanitary Napkins: Women can start initiatives where natural cotton sanitary napkins are made. These initiatives will need a lot of machinery and labor and hence good management skills are necessary
- Menstrual cups: A lot of women in India haven’t tried menstrual hygiene products other than sanitary napkins. Menstrual cups can still make really good business in the market. Awareness has to be created as to how health-friendly these silicon cups can be
- Different period products: There are a lot of other products like cramp roll-ons, hot water bags, and essential oils that can be made menstrual cycles healthy for women. These accessories can also make good business among women
9. Businesses in Arts & Handicrafts
Handicrafts can be a nice business idea for women who are fine with paper and wood.
- Women make handmade jewelry and make good money out of it
- Gifts and cards are also sold extensively in the market today
- Beadwork is also very popular among women with skills in the same
10. Apparel & Clothing Stores
- Boutiques: The clothing industry is booming is several trends coming up. Women can ace the fashion game and fashion stores are the best business options for ladies with that sense of trends
- Opening your fashion label: It is another business idea for women who want to design their merchandise and have it out there in the market. Fashion labels need more funding and vast knowledge in the fashion industry but are great businesses once settled up
- Bags and accessories outlet: Bags and other accessories like jewelry, belts, shoes, etc. also make good sales along with clothing lines. These accessory shops are a huge hit among women and can be good business
- Stitching and embroidery work: Women with little or no education can get into the stitching and embroidery business. This is a skill that most women in rural areas have and can make good money with it. Embroidery handwork is valued in the market and one can make good money selling it online
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Exclusive Loan Schemes for Women Entrepreneurs – April 2023
Funding is a very important feature of any business. Money usually holds people back from living their dreams. Business loans have made a lot of people’s dreams come true. Following are some of the business loans specially designed for women which can make any woman a business-woman:
ICICI Bank – Self Help Group-Bank Linkage Programme (SBLP): Collateral-free business loan for women entrepreneurs for loan amount up to Rs. 10 lakh with a repayment tenure of up to 3 years.
- Mudra Loan for Women: Under Pradhan Mantri Mudra Yojana (PMMY), women borrowers can avail Mudra loan up to Rs. 10 lakh at competitive and concessional interest rates from private and public sector banks, as well as NBFC
- Stand-Up India: Loans for setting up Greenfield Enterprise for a loan amount of Rs. 10 lakh to Rs. 1 crore and tenure of up to 7 years with a moratorium period of 18 months.
- Cent – Kalyani Scheme: Cent Kalyani – Central Bank of India: Women Entrepreneurs can avail loan amount up to Rs. 1 crore engaged in the manufacturing or services sectors. The margin of 20% without any collateral or third-party guarantee is offered by the bank
- PNB Mahila Udyami: Exclusive loan scheme for women entrepreneurs of the amount up to Rs. 10 lakh for new & existing units with tenure of 3-5 years (Term Loan) and 3 years (Overdraft)
Therefore, by considering these business ideas and availing the Government-funded schemes, every Indian woman can become an entrepreneur and fulfill the dream of owning a business and becoming financially independent.