According to a report by the EdelGive Foundation, businesses owned by women in India are expected to witness a whopping 90% growth in the next 5 years.
Around 80% of women entrepreneurs from semi-urban and rural India have reported improvement in their socio-economic and cultural status after starting a business.
Women-owned businesses in India also receive other benefits and schemes to help them grow their businesses. There are also lots of interesting business ideas for women that you can consider.
This article will discuss some of the best business ideas for women and also some other closely related topics that women should know about while starting their entrepreneurial journey.
Side Business Ideas for Women
Who doesn’t wish for a secondary source of income? In today’s uncertain world, a ‘side business’ is necessary to live an above-average life because, for most people, a full-time job pays just enough to pay their bills and survive.
Here are some of the best side business ideas for women that they can consider to supplement their income –
According to a report, the Indian per care industry is expected to reach a value of Rs. 7500 crores by 2026. This growth is largely attributed to several factors, one of them being increased spending on pets for their well-being.
More pet owners are now demanding well-trained professionals to help them take care of their pets. Women who are animal lovers and would like to make some money on the side by helping pet owners take care of their pets can consider starting this business.
The best time to do this business would be during weekends or during holidays.
Women who have the skill to share their knowledge can consider starting their own teaching business. For example, someone who is proficient in management can provide valuable knowledge to MBA students.
Full-time teachers can also provide offline and online tuition classes during their spare time. This is because a lot of parents are too busy to spend time teaching their children themselves. But, they are willing to pay any cost to make sure their children’s academic performance is not affected.
Event Management and Planning
Event management can be among the great business ideas for women to take up. This is a business that booms during festive seasons and wedding seasons. This is the perfect business for someone who is good at planning, managing logistics and can find a good team of vendors. Event planners can earn thousands of rupees in profit for just a day’s work.
Women who have been working professionals can use the knowledge they have acquired throughout their working life and turn it into a business. More and more businesses worldwide are turning to talented contract consultants instead of hiring full-time employees. Such consultants can opt to take on projects on a short-term or long-term basis.
Also Read: Most Profitable Businesses in India
It would be a great advantage if you have built a good working relationship with other professionals from different industries and countries. It can come in handy to find potential clients through referrals.
Vertical gardens serve another purpose other than just looking good. They literally breathe fresh air into homes or offices or wherever they are installed. The trend is catching up, especially in cities where pollution levels are skyrocketing.
Businesswomen interested in the vertical gardening business should find suppliers who can provide them with quality plants and other supplies. Some of the most common plants include ferns, bromeliads, succulents, and vines.
Baking is a passion for a lot of women. It is one of the best business ideas for women that can be initiated from home. But once grown, it will require a commercial space. The demand for bakery items, especially cakes, brownies, etc., is relatively stable throughout the year.
Once the business picks up, the owner can hire someone to manage the business while she is focusing on her main career.
Business Ideas for women at home
Women who stay at home and have time to spare can actually start lucrative businesses that operate right out of their homes. Most of these business ideas require little investment and are relatively easy to operate. Let’s take a look at them.
Tiffin service is one of the best business ideas for women who love to cook and want to turn their passion for food into a lucrative business. The investment required is minimal since most of the equipment needed is already available at home.
It is also relatively easy to market the business since there is a huge demand for home-cooked foods, especially in large cities. To get the initial base of customers, they can start spreading the word in their immediate neighbourhood or using digital channels like WhatsApp.
A lot of people consider yoga to be a gateway toward better mental and physical wellbeing. These people are actively on the lookout for professional yoga instructors. This is one of the best business ideas for women that they can consider taking up.
This business does require minor investment in the form of training and certifications that can quickly be covered using revenue. To get started, women should find a nationally recognized training institute, if not an internationally recognized one, that provides a valid certification to up their game.
Classes can be conducted by renting a space in a commercial building. Even home classes will do if the client base is low during the initial days.
This is one of the great side business ideas for women who have a flair for writing. There are lots of businesses across the country and beyond borders that are searching for writers to help them with social media, blogs, website content, eBooks, etc. Rates vary depending on the nature of the work.
For example, content writing projects (blogs, eBooks, whitepapers, etc.) are usually charged per word, and projects like copywriting are charged based on the complexity of work. Platforms like Upwork and Fiverr can be used to find work.
Data Entry Business
This is another side business that can be done from home without any special technical skills. All over the world, there are companies of all sizes that are looking for data entry professionals who can enter data into their computer/software tools.
The job entails updating and verifying the authenticity of data as per the company’s requirements. In most cases, a computer and basic Microsoft Excel skills are all that is required to get started.
Sewing and Tailoring
The demand for custom-made clothing is ever increasing. Having perfectly tailored clothing is considered a luxury. Women who are skilled in sewing and tailoring can easily turn to this side business. Women who would like to get skilled in sewing can take up classes or work under a professional till they gain enough confidence and experience.
Also Read: Textile Business Ideas in India
The most expensive investment will be obviously a sewing machine. Another way to increase revenue from this business is by teaching others how to sew.
Wary of the possible side effects of using mass-produced cosmetics, there is a growing number of people who are choosing to buy locally produced organic substitutes. The types of products range from soaps to shampoos to face wash to everything in between.
It is to be noted that this is a very competitive industry, and it will take considerable effort from a marketing standpoint to get the brand noticed.
The steady rise in demand for day-care services is because of the increase in the number of nuclear families and both parents being full-time employees.
These parents are willing to invest in daycare services that have a good environment and will help shape their children’s minds. A mini day-care centre can be started at home with minimal investment.
Benefits of being a Woman Entrepreneur in India
Businesses backed by women enjoy special benefits, schemes, and assistance from the Government of India.
Some of the most important ones are discussed below:
To encourage women entrepreneurs to quickly give life to their business ideas, the government and financial institutions are offering financial assistance through credit policies.
Some of the most popular ones are listed below:
- The Annapurna Scheme grants loans up to Rs.50,000 to help women set up catering businesses.
- The Stree Shakthi Scheme offers special loans up to Rs.5 Lakhs to businesses where more than 50% of the ownership is held by women.
- Orient MahilaVikasYojana Scheme offers collateral-free loans up to Rs.10 Lakhs to women entrepreneurs. Loans of more than Rs.10 Lakhs are provided with collateral.
- Dena Shakthi Scheme offers loans up to 20 lakhs and microcredits for women wanting to start businesses in agricultural goods or manufacturing.
- Udyogini Scheme offers comparatively low-interest loans up to Rs.1 Lakh for women aged between 18 and 45.
- Cent Kalyani Scheme provides collateral-free loans of up to Rs.100 lakhs shall be provided under this scheme for women initiating businesses related to retail trade or agriculture.
- Mudra Yojana for Women Scheme provides financial aid ranging from Rs,50,000 to Rs.5 Lakhs for women to start small ventures like beauty salons, daycare centres, etc.
- Mahila Udhyam Nidhi Scheme provides loans up to Rs.10 Lakhs for fulfilling financial needs or modernization of existing women-held businesses.
- Trade-Related Entrepreneurship Assistance and Development Scheme (TREAD) assists with finance for women-held start-ups along with training and counseling on various matters.
Several state governments also provide monetary allowances to women-owned startups. These are provided as a supportive measure to help with Research and Development, Marketing, and other publicity activities.
Some of them are given below:
Andaman and Nicobar
Under the Andaman and Nicobar Innovation Policy, 2018, startups whose founders or co-founders are women will receive Rs. 22,000 as a monthly allowance.
This state gives a special one-time incentive of Rs.5000 per woman candidate in a startup to an upper limit of Rs. 1 Lakhs per startup for 3 years under the Assam Startup Policy, 2017.
Jammu and Kashmir
J&K gives Rs. 12,000 as a monthly allowance to women who own at least 25% of their startup under the Jammu and Kashmir Startup Policy, 2018.
It gives Rs.22,000 as a monthly allowance to women entrepreneurs once their startup is approved under the Odisha Startup Policy, 2016.
Also Read: Best Business Ideas in Kashmir
Policies, Subsidies, Exemptions, and Expense Reimbursement
Under state policies, some additional startup benefits in the form of exemptions and subsidies have been marked especially for women entrepreneurs.
Some of them are:
- Reimbursement of 100% expenses borne by women entrepreneurs in renting stalls in national and international exhibitions in the state of Andhra Pradesh.
- Under the MSME Policy of Uttrakhand, 2015, eligible startups are provided assistance with their marketing efforts.
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How Lio Automation Can Help You Business Process
Automation surely does make a difference in running a business whether small or large. It can be tricky and overwhelming at first to switch all the business processes to automation but not with Lio.
Lio Automation gives you many amazing features that make your work super simple and effective. There are very many features that will help you and your business in various aspects. From connecting and staying in touch with your customers, to working together as a team, and everything in between, Lio Automation will truly make your business run smoothly and make it reach new heights of success.
If you are using Lio Automation for your business processes consider all your data safe and secure all the time. Not only is the data saved in the cloud, but it also offers a data versioning feature in which you can actually see the many changes the document or file has gone through and who has made those changes. You can save the version of the file as required by you.
Another great feature that Lio Automation offers is colour formatting the sheet. Colour formatting can help bring information and more clarity to the audience. Applying colours to different parts of any data will let you narrate a more effective story that easily catches one’s attention as well.
You can create dashboards for each file which would give you the clear details of your company’s operations, marketing campaigns, sales and other analytics. This is one useful feature that would truly make a difference to your business and help your see all the processes clearly so that you can make well-informed decisions.
Lio Automation also makes working in teams very easy with their Task feature. you can not just assign tasks to your team efficiently. You can set the priority of each task along with the due date. Your team will get a notification about the task automatically, even on Whatsapp, they can see their assigned tasks in the app, mark them complete, and you will get a notification on Whatsapp!
Not just this, Team management and work allocation are made super easy with Lio Automation. You can also work with teams in real-time and see all the changes happening.
Since customers are a big part of any business and staying in touch with them is a crucial job, Lio automation gives you the ability to automate Whatsapp communications. Automating WhatsApp communication is another popular trend that businesses can benefit from. With the help of this, you would be able to save a lot of time, boost your customer retentions and renewals, save a lot of money, have lower operating costs and much more.
You can share invoices and receipts with your customers while also sharing the payment links with them to make the whole transaction process smoother and absolutely hassle-free for everyone.
There are several other amazing Lio automation features that are made so that you and your business can benefit from them. Excited to know more about it? Start with your Lio automation process for your brand and start your journey to success.
The business landscape is turning into a level playing field for both men and women entrepreneurs. In fact, there are certain businesses where women can be more successful than men. This article has briefly discussed some of the best business ideas that women can choose to start their own ventures.
Even from the early stages of the business, it is important to keep records of even the most minute details. The simplest way to do this is by using spreadsheets from Lio. These easy-to-use templates can help keep track of everything from finance to employee productivity.