If you’re considering starting a business in Madhya Pradesh, this article lists the top 10 small business opportunities that require minimal capital investment.
In terms of optimal conditions for businesses, Madhya Pradesh is second only to Gujarat. Primarily agricultural, the major crops of this state are wheat, soybean, gram, sugarcane, rice, maize, cotton, rapeseed, mustard, and Arhar.
India’s biggest diamond and copper deposits are located in the state, with substantial amounts of coal, coalbed methane, manganese, and dolomite available too. Furthermore, the state is developing its tourism sector.
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The state has significant readymade garment, poultry/hatchery, electrical goods, sawmill, woodcutting, limestone products-related industries, building materials maker, glassware manufacturer, telephone parts suppliers, furniture producers, steel structures works providers, cement businesses; tobacco and retail establishments such as well as food processing companies.
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List of Top 10 Small Business Ideas In Madhya Pradesh
#1. Computer Training Institute
Madhya Pradesh boasts a well-structured education system that caters to different age groups. The state’s schools and colleges have an excellent reputation on a global scale.
Madhya Pradesh has seen an increase in literacy rates, and the computer training institute is a great business opportunity for tech-savvy individuals.
#2. Customized Glass Etching
Madhya Pradesh’s glass industry is prominent. An individual can start a personalized glass etching business from their own place of residence. Glass etching is an imaginative and lucrative venture.
The customized glass etching business involves items such as presents, awards, and decorative pieces for commercial and domestic clients. The main material of glass is readily available in the state.
#3. E-waste Recycling
E-waste recycling has become an urgent global environmental concern. India has particularly seen a drastic rise in electronic product waste.
The population growth, advances in the industry, and rising use of electronics are all factors that have contributed to the increasing prospects of the e-waste recycling business.
By starting a business in this sector, someone is not only able to make a profit but also help keep their environment free from toxins.
#4. Jeans Manufacturing
Currently, there are 51 large-scale Textile factories in Madhya Pradesh. These textile exports are worth around Rs.1200 Crore. In the next five years, there is potential for M.P. to draw a total investment of Rs.10000 Crores ($2.2 Billion) in the textile sector by merging composite mills and garment units.
The Madhya Pradesh state government is providing numerous incentives and benefits to the textile and garment manufacturing industry. Establishing a small-scale jeans production facility is seen as a viable business option.
#5. Livestock Feed Production
Abundant in livestock production, Madhya Pradesh is renowned for its dairy, poultry, hatchery, and goat farming. Working to promote productivity within the livestock industry while ensuring self-sufficiency and utilizing improved technology to cut costs and raise the incomes of livestock rearers, the state government has implemented a number of different schemes.
Additionally, these schemes facilitate the efficient delivery of services to those responsible for raising livestock.
Therefore, there is a great need for quality livestock feed in the state. You can get started with a small capital investment to open a livestock feed production business.
#6. Nail Polish Making
Madhya Pradesh contains a wealth of minerals, making it suitable to start a chemical industry. Investing in the production of nail polish can prove to be extremely profitable in the cosmetic market.
Interest in nail polish is on the rise, not just among city dwellers, but also in suburban and rural communities. Someone aware of the current beauty and fashion trends can start this business without too much capital.
#7. Outdoor Advertising Consulting
The expansive industry in the state is experiencing noteworthy growth. This has opened up incredible chances to launch an outdoor advertising consulting firm.
This company can be commenced from the comfort of your own home and later on, it can expand as the business develops.
When it comes to advertising consultancy for the outdoors, this business involves aiding customers in how to promote their products or services in the open air.
#8. Papad Making
A few of the significant crops in Madhya Pradesh include Gram, Rice, Maize, Mustard, and Arhar. Taking advantage of Allied snack products, one could initiate a papad-making business that would prove to be highly lucrative in the food industry with its small startup capital.
Depending on the domain, different sorts of pulses and spices can be seen; though some varieties are more commonplace than others.
#9. Tour Guide
Tourism in the state is booming, thanks to wildlife tourism and various sites with historical and religious significance like Sanchi and Khajuraho. Other popular tourist stops include Bhedaghat, Bhimbetka, Bhojpur, Maheshwar, Mandu, Orchha, Pachmarhi, Kanha, and Ujjain.
Having in-depth knowledge of historic facts and the local culture of a certain location is essential if you want to start a tour guide business. Make sure to secure a license before beginning.
#10. Woodworking
Woodworking is a long-standing practice in the state. Madhya Pradesh and its tribal regions are well known for their wood crafts, which range from tiny carvings of animals and people to bigger pieces of furniture.
Experienced woodworkers in Madhya Pradesh can carve materials such as Shisham, Teak, Dhudhi, Sal, Kidar, and Bamboo into various shapes for both decoration and practicality – making it a great small business idea.
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