Odisha holds an agrarian economy that is transforming into a service and industry-based economic system. As reported by Dun & Bradstreet, the Gross State Domestic Product (GSDP) is anticipated to rise at a rate of 8.1% throughout 2015-2020.
Odisha’s chief industries include producing; mining and quarrying; supplying electricity, gas, and water; and construction. According to the most recent report, the Gross State Domestic Product (GSDP) of Odisha in 2021-22 (at current values) is predicted to reach Rs 5,86,000 Cr.
This Indian state has a comprehensive banking infrastructure, including the community, tourism, hospitality, finance, insurance, transport, storage, and communication industries.
For every 12,000 people, there is one bank branch. This article will explain the 10 most popular and profitable business opportunities in Odisha based on the market opportunities.
These listed small businesses in Odisha can be initiated with a low budget and they can be operated on a small scale.
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List of Top 12 Profitable Small Business Ideas in Odisha
Home-Based Online Business Ideas in Odisha
1. Start a Blog
Blogging is a great way to make money from home with little investment. To get started, find a topic you are passionate about and produce content about it. We have a guide on how to start a blog and make money – check it out if you’re interested!
2. Earn From Survey Sites
If you’re looking for other ways to make money from the comfort of your home, survey sites are one solution. You don’t need to invest anything but your time – simply share your opinion about certain services and products, and you can be rewarded. India has many legitimate surveys available.
Explore the top survey sites in India to earn extra money.
Small-Scale Business Ideas in Odisha
3. Candle Making
Anybody can launch a candle-making venture from home. Scented and ornamented candles, apart from the traditional white ones, have a huge call for. Begin with peddling in local areas.
Components for creating candles can be purchased at the local bulk market. Ornamented candles are greatly sought after as a gifting item. Reach out to gift item retailers and sell them on credit terms. Crafts fairs are the ideal place to market your ornamental candles.
4. Car Rental Business
Tourism in Odisha is rapidly expanding, and the increased industrialization has opened up many opportunities for car rental services. Car rental is a great source of income in Odisha.
Scheduling customer reservations and providing the rental car would be the primary operation of a car rental business. Before entering this market, thorough research is required as it’s capital and management intensive.
5. Cashewnut Processing
Cashew production is a major industry in Odisha, making it an ideal place to start a cashew processing business. This lucrative venture is one of the most profitable ideas in the region.
The cashew nut processing business is an excellent opportunity to take advantage of in Odisha, as the demand for cashews is increasing but its supply is limited. Even those with limited resources can get started with this type of venture.
6. Computer Training Institute
Bhubaneswar, the capital of the state, is becoming known as an education center in India with many new public and private colleges, like the Indian Institute of Technology. Starting a computer training center with additional value-added services can bring good profits and satisfaction to a business in Odisha.
7. Diagnostic Center
With a background in lab science and a substantial amount of capital, an individual can launch a profitable diagnostic center business in the medical and pharmaceutical sectors. Pathology services play an important role in these centers.
Physicians and patients wanting higher quality care are increasing the need for reliable diagnostic centers.
8. Ecotourism
Odisha is a great destination for eco-tourism, with places such as TikarPada, Gahirmath Turtle sanctuary, Chilika Lake, River Beds, National Parks, and Debrigarh Ecotourism. Visiting these sites can help one recharge and reconnect to nature for a tranquil experience. Ecotourism is also a prosperous industry in Odisha.
9. Embroidery Unit
In rural areas, the handloom sector is second only to agriculture in providing job opportunities for artisans. Our state has a strong history of making handwoven textiles, and generations of knowledge and skill have created fabrics that are unparalleled in depth, range, strength, and vigor.
Handwoven fabric is an incredibly resilient source of ethnic expression. An embroidery business in Odisha with a moderate start-up cost is a viable option for entrepreneurs.
10. Fruits Vegetable Export
Odisha has a lot of potential in the area of exports, especially in the MSME sector. Packing and shipping fruits, vegetables may like and other goods could be a lucrative venture. However, it is important to have an understanding of foreign markets before starting any kind of export business.
11. Jute Bag Making
Odisha is the fourth most prolific jute producer, behind West Bengal, Bihar, and Assam. Rice and jute are rivals since they need the same climate and soil conditions to grow.
Jute cultivation is mainly found in the coastal regions of Cuttack, Balasore, and Puri districts. Making jute bags is one of the most profitable business opportunities in the region due to the high availability of necessary raw materials. Additionally, the manufacturing process is straightforward.
12. Liquid Soap Making
Liquid soap is classed as a durable consumer product. The surge in the demand for liquid soap is due to the growth in health conscientiousness and expendable wealth.
The creation of liquid soap requires a large variety of processing, encapsulation, and merchandising activities. Additionally, profound market investigation and advertising stratagem are also needed for this industry.
We have gathered the best small business ideas in Odisha, to help entrepreneurs make better decisions when starting a company. We also welcome individuals with great business ideas in Odisha to post them on our social media accounts.
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