Ease To Doing Side Businesses You can Start from Today
Thanks to its booming economy, Kerala is a popular destination for trade and commerce. Besides, due to having the highest literacy rate in India, job prospects at Kerala is at an all-time high.
With an economy worth Rs. 199,101 Crore, Kerala harbours a diverse range of small and medium scale businesses. Thanks to its prosperous economy and high literacy rate, the employment sector in Kerala is booming with opportunities contributing 11% of the total GDP of India.
Kerala is also recognised as one of the Indian states that have the highest number of small and medium scale enterprises. It not only provides an additional source of income but also hone your entrepreneurial skills.
The cost of opening a start-up in Kerala is comparatively favourable. It is due to excellent infrastructure that the state has to offer. This is all the more reason to open a side business in Kerala with innovative start-up ideas. Additionally, the easy availability of business loans in Kerala has fostered this growth even further.
So, if you are considering opening a side business, here are some of the business ideas you can look into –
- Open a café
Considering the booming café culture in India and the increasing purchasing power parity of the millennial, opening a café in Kerala is a smart way to start your side business. Now with the availability of business loans in Kerala, you can prepare your small business during its growth phase. So, if you have an empty space at your ground-floor, you can utilise it to create an alternate source of revenue.
- Online retailing business
The demands for fashionable and trendy t-shirts are popular among youngsters across the nation. You can sell customised t-shirts as per the customers’ preference and earn substantial profits.
Considering the significant scope in this business, you can check the trending items and drive your business towards catering that demand.
However, you would require an initial investment. You can avail a Business Loan from lenders like Bajaj Finserv at competitive interest rates. A business loan in Kerala can offer a handsome sum of Rs. 30 Lakh which can be utilised for setting up the equipment and infrastructure necessary for this business.
- Jewellery business
If you can create unique jewellery, you can start a jewellery manufacturing business for your customers and start a profitable side occupation. Additionally, if you consider taking this business to the next notch, you can apply for a personal loan for self-employed for further expansion. Note that Kerala is among the foremost states with strong commercial relations with Arab countries, offering a leading edge to the state.
With this credit facility, you can enjoy no-end usage restriction. So you have the liberty to use this advance for meeting diverse business requirements like – procuring raw materials, expand your business, or provide the necessary working capital that your business need.
These are some of the emerging side business ideas you can start in Kerala. Now, with business loans in Kerala at your disposal, opening your start-up venture becomes convenient. However, you must always check the eligibility criteria and the documents required for availing such finances before applying for one.