The first step to initiate planning is to identify a suitable project. To start your own venture you have to decide on many things. Making a choice of the right project is a difficult decision for an entrepreneur and is an imperative decision.
There are no set rules to identify a suitable project, though this is one decision on which the success of your entire venture hinges. So, donât take hasty decisions. Most prospective entrepreneurs tend to display the herd tendency and go for a project, which people have already ventured into. This is not a healthy attitude as success of one in a particular field does not guarantee success of the other. While identifying a suitable project, you should make a SWOT analysis of your own strengths and weaknesses.
Startup India Stand up
A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding. Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage startups with jobs creation.
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. This will drive sustainable economic growth and generate large scale employment opportunities. The Government, through this initiative aims to empower Startups to grow through innovation and design.
What is Startup India offering to the Entrepreneurs?
Stand up India backed up by Department of Financial Services (DFS) intents to bring up Women and SC/ST entrepreneurs. They have planned to support 2.5 lakh borrowers with Bank loans (with at least 2 borrowers in both the category per branch) which can be returned up to seven years.
PM announced that âThere will be no income tax on startupsâ profits for three yearsâ
PM plans to reduce the involvement of state government in the startups so that entrepreneurs can enjoy freedom.
No tax would be charged on any startup up to three years from the day of its establishment once it has been approved by Incubator.
The next step, after you have selected your project, is to collect all information about it. The most important information is about the potential market of the items you selected. This book aims at providing a thorough understanding and analysis of the 5o highly profitable industrial projects that you can start. It describes formulae, properties, raw materials used and manufacturing processes of different products. Undoubtedly, this book is a gateway leading you to become your own boss.
The important projects described in the book are Linear Alkyl Benzene, Soy Flour & Milk Processing, Urea Formaldehyde Resin Adhesive, Toothpaste Production, Gypsum Board, Surgical Absorbent Cotton, Starch Derivatives Production, Wet â blue leather, PVC paste Resin, Saccharin, Sodium Chlorite, Phosphate Fertilizer, Tomato Paste, Paint, Autoclaved Aerated Concrete (AAC Blocks), Carbon Black, Caffeine, Sodium hydrosulfite, Magnesium Sulphate (Fertiliser Grade), TMT Bar, Glass Fibre, Plastic (P.V.C.) Laminated Collapsible Tubes, Complex fertilizers, Copper Powder By Electrolysis Process, Atomized Metal powder, Electro Plating, Activated Carbon from Wood, Rubber Powder from Waste Tyres, Precipitated Calcium Carbonate, PVC Flex Banner Production, Reclamation of Used Engine Oil, Edible Corn Oil, Malt Production, Ethyl Oleate, Wheat Flour Mill, Instant Noodles, Zinc, Castor Oil & Pomace, Garlic Oil and Powder, Silica from Rice Husk, Thermocol Cups, Glass and Plates, Match Box (Automatic Plant), Camphor, LDPE/LLDPE Pouch Films, E-waste recycling, Cattle Feed, Saw Pipe, Polyethylene Wax, Disposable Plastic Syringes, Cement.
It will be a standard reference book for professionals and use by everyone who wants to startup as entrepreneur.
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