New Delhi: India is a vast land, offering new business opportunities each day. As industrialisation moves upward, competition also takes a spike proportionately. Most people in India are engaged in corporate culture. However, there are few in the crowd who take up a different route and think of owning a business.

Earlier in the 90s, it would have been difficult to start a business under one’s name because of the hectic governmental and legal procedures but that is not the case now.

Few business options that require no or less money are:-

• Skill-based business – Selling one’s skillset such as dancing, painting, photography, computer courses, etc.
• Blogging – People who have a knack for writing, can make bucks very well with this one. It certainly does not require any specific qualification, just a little bit of research with a decent writing style and you are good to go.
• Digital marketing – With proper knowledge about handling client relationships, and technical skills such as setting up websites, designing ads, and understanding niches equipped with even a small set up can go for this option.
• Freelance writer – Offering clients writing copies as per their content needs according to their schedule. This business option can be a lucrative one without spending any money.
• Graphic design – People who find interest in presenting messages and content through visual communications, and designing art for logos and websites can opt for this one. Graphic designers with a little bit of set-up can even earn up to 170k/year.

Now let’s talk about the steps as to how one can start it from scratch with less or no money:-

1. Start with registering under a sole proprietorship

It is always legally positive to establish the business at the beginning itself. Having various kinds of business models, a sole proprietorship is the most cost-saving one. To obtain it, one needs to get a Shop and Establishments Act registration along with GST registration. If the business is owned by more than one person, register under a partnership firm and it is always advisable to always draw a partnership deed.

2. Applying for government schemes:-

With popular initiatives going on such as Micro, Small, and Medium (MSMEs) small scale businesses can opt for loans that too with low rates of interest and without many procedures.

The government of India also launched the initiative Startup India started less than 10 years ago. Among the many perks that this scheme offers some of the big ones are-

a. In this initiative 10,000 crore funding pool has been set up and is managed by SIDBI.

b. Reduced patent registration fees

c. No need to pay taxes up to 3 years of operation

d. No inspection for the first 3 years of operation

e. Self-certification compliance

3. Make a sound Business Plan:-

Plan all the necessary things beforehand such as arranging funds, turnover ratio, the cost-to-profit ratio, all the business expenses, etc.

4. Setting up e-commerce platforms:-

One does not always needs to find a workplace when starting a business. Today, time is evolving, as a big chunk of markets have switched to digital platforms such as Amazon, Snapdeal or Flipkart. Setting up the business digitally not only saves the cost of a physical store and logistics but also provides a much wider reach to the target markets and takes care of technical aspects.

Nowadays it has become quite easy to own a business in India because:-

1. India consists of all kinds of target markets setting it as a perfect destination for foreign ventures too.

2. It is an open economy meaning anyone is allowed to enter and exit the market as per their will.

3. Government backing up start-ups and small-scale industries with their Schemes.

4. free from tiring registration procedures

5. Bided by strict laws and regulations to protect businesses from illegal practices.