Wondering what are the best business ideas in Punjab? Read the article to get some answers.
Punjab is a province culturally rich with delicious cuisine, gorgeous cities, and scenic landscapes. Punjab’s excellent transport network and great accessibility make it a perfect business hub for budding entrepreneurs; as a result, Punjab has almost 194,000 micro-enterprises and over 586 large and medium scale units.
Naturally, it is one of the most attractive and consumer-heavy marketplaces in the country. Using this to one’s benefit, one can launch a number of profitable local businesses. The economy of the state of Punjab is the 16th largest state economy in our country with 5.41 lakh crore (US$71 billion)(FY2020-21) in gross domestic product and a per capita GDP of US$2360(180,000) ranking 19th amongst Indian states.
The economy of Punjab is majorly dependent on agriculture and small and medium-sized businesses.
The following are the top business ideas in Punjab you can open.
How To Start A Business In Punjab
There are several business ideas in Punjab that you can start. The list is long and there is a lot for you to do but before venturing into any sort of business, you must do full-fledged research about it. There are a few things to know before you start your business in Punjab and they are as under:
- Understand the needs of the people and the economic growth of the state.
- Read all about the government laws, rules and regulations.
- Study the licenses that you would require for your business.
- Understand the nature of the business you have decided to start.
- Know the tax regimes of the state.
- Read and gain in-depth knowledge of all the registrations and legal procedures related to your business.
- Make a plan for the land as well as equipment investment that is needed.
- Have strong financial assistance and figure out all things related to it.
- Make a strong marketing and pricing strategy.
- Build a strong workforce that is based on the size of your business.
Research About The Local Market
Do thorough research of the market and study it. You should everything related to your business like who are your competitors, what is the demand for, what are the risks involved and everything related to it.
Make Connections In The Market And Make Offline Promotions
No matter how good your business ideas in Punjab are, if you do not make any connections in the market, people would not know about you or your product. You must advertise your business offline and tell as many people as possible. Your brand should be seen in all the places with the biggest footfall of customers and you should be informing people about your business.
Advertise In the Punjabi Language
This is definitely one of the best ways to promote your business – advertising in the Punjabi language. With this, you would easily connect with the people and they would not take you as a foreign brand and might believe in your brand easily as compared to any other. Bond with the locals in their regional language makes the most of this opportunity.
Register The Name And The Company
This is one of the important steps. Once you have everything in place, you must decide on a name for your company, and get both the name as well as the company registered. It is important and only once registered, you would be able to run your business smoothly and legally.
Legal Licenses And GST
All businesses regardless of the industry and sector have various legal licenses and permits that they must acquire. Jot down the list of licenses, regulations, permits and GST needed and apply for them as soon as possible.
Once you have sorted out all these things, you can start with any business ideas in Punjab and build a strong foundation for your entrepreneur journey.
Business Ideas in Punjab
Here are the top business ideas in Punjab that you should check out if you are planning to start something of your own.
As per a report, the operating margin in the food and agro-processing industry was 22.05 percent in 2019 and would keep on rising in the next years.
Punjab is a state with a substantial portion dedicated to agricultural production, and you may reap the maximum benefit from it. In Punjab, there are two options for running a bakery business.
The first step in launching a bakery business is to open a retail outlet where you can offer freshly baked goods to your consumers. The other option is to aim to develop a giant bakery business by distributing baked goods to shops.
If you sell thousands of confectionary in one go, it’s not hard to generate a good income from the business. A small-scale biscuit factory may easily generate Rs 50,000 per month.
Biscuits are very common in every household, especially in our country. They are the favourite snack that is loved by both elders as well as children. Having a biscuit business is going to be one of the best decisions. You can easily get the ingredients from the state and that too at a low cost and make a profitable business for yourself.
Wheat Flour Mill
Punjab produces around 15% to 20% of India’s total wheat, making it a very attractive region to establish a flour milling business. This percentage surely does make it one of the best business ideas in Punjab to start.
Preparing high-quality flour may be profitable, and the good thing is that huge quantities can let you process them at a low cost. You don’t have to begin with a large plant; you may begin with a small or medium-scale operation.
Having a wheat mill would also mean you not just selling your product here in the state in local shops both retail as well as wholesale but also all over the country. You can also do this business of selling it digitally with the help of the internet.
Places in Punjab, like Ludhiana, are well-known for their sports manufacturing. In Ludhiana, a plethora of sports equipment, sportswear, and other items are mass-produced in large quantities for many prominent sports companies.
Sports manufacturing offers a lot of possibilities for starting a new venture. This business, however, will necessitate some initial capital.
You have two options for starting this business: either manufacturing sports goods for retail sale or wholesale. You will have to organize your sales, attract consumers, give after-sales care, and so on in retail sales.
You won’t have to think about it if you go wholesale. Retail earnings, we must mention, can be greater than wholesale earnings.
Annually, hundreds of visitors flock to Punjab. Countless vacationers and travellers choose to employ a travel consultant to help them organize their entire trip and handle their reservations.
They also tend to favour a local travel company because of their familiarity with the location.
As a result, one of the successful small business ideas in Punjab is to establish a travel agency. Customers are desperately looking for different experiences instead of typical tourist encounters as their travel experiences have diversified over time.
Millennials and younger tourists are becoming interested in food tours, cycling tours, and walking tours, among other things. By offering such interesting and thrilling experiences, you may build a profitable travel business in Punjab.
Punjabis are automotive enthusiasts who maintain excellent upkeep of their automobiles. You can set up a business where you give automotive repair solutions to your clients.
You might also offer tractor and vehicle repair, which is something that most Punjabi households would appreciate.
Customers will obviously want servicing and repairs for their vehicles from time to time, and you may seize the opportunity to deliver the desired maintenance at reasonable prices and develop a profitable business.
As mentioned before, people in Punjab generally like to keep their automobiles in the best condition possible, and they would appreciate a service that can provide unique modifications to their vehicles.
You may develop a successful business by offering extensive kinds of interesting modifications to your consumers at reasonable rates.
If you are successful in supplying your clients with truly cool customizations, you can make a lot of money doing so.
People nowadays are always eager to improve their capabilities and learn new things. As a result, tutoring services are an excellent business option.
One can provide tutoring depending on their qualifications. It is not essential to limit oneself to school and college education; you may educate on anything in which you are knowledgeable.
If you don’t wish to limit your courses and offerings to Punjab, you may provide them online.
Toothpaste is a product that could be found in almost every home. It is manufactured in two different ways: transparent gel and abrasive paste.
If you are lucky in establishing a small toothpaste manufacturing firm, you may turn it into a profitable venture.
In comparison to other enterprises that may be launched with a small investment, this one has an extremely high-profit margin.
If you are able to provide decent clothing of excellent quality at an affordable rate, you will have a high possibility of doing well in business.
Folks in Punjab are not extremely brand-conscious, therefore you may sell a piece of fabric with your personal logo to shopkeepers in small market areas. If your goods sell successfully, merchants will approach you in the future for further manufacturing.
Starting your clothing business is definitely among the great business ideas in Punjab to start.
Aluminum Foil Manufacturing
Aluminum foil is a commodity that is required in almost every household to wrap food products in order to keep them warm. Currently, everybody uses aluminum foil, and it is an item that isn’t particularly branded.
You may either produce your local aluminum foil and distribute it to stores, or you can fuse into the retail business and provide it directly to customers.
This business has a greater profit, and you can make big money if you do it right. Although to start this business you need decent start-up capital, once it has been figured out, it’s smooth sailing from there.
If you possess a solid understanding of the software that allows you to produce designs for others, you may start a flex printing business in your area.
Many small business owners desire to market their products or services by putting advertisements on flex.
If you are able to amass big scale orders from your clients, the costs are also extremely low, and you may earn a lot of money operating this company. You don’t even need a sizable chunk of capital to get started in this industry.
Mobile Repairing Shops
These days, everyone has a mobile phone, which has progressed into a smartphone. You may launch your own repair shop by taking a crash course in repairing mobile phones.
Our lives are incomplete without our phones as we spend many hours on them whether staying connected with our loved ones or managing our work on them. With this mass use of mobile phones where everything is managed on them, it becomes our first priority to take care of them.
With the amount of usage of our phones, they are handled not with much care by us and every now or we either drop them or they get a bug in them or they get some other problem. With this, it becomes clear that we start a mobile repair shop. It is definitely easy to manage, needs low investment, you can make bug profit and is definitely one of the best business ideas in Punjab.
This is a form of service that is now popular and among the most profitable enterprises that you can be an owner of. You can keep employees who are good at different phones and technologies and also sell phones and accessories.
There is indeed a lot of increasing demand for the Internet these days, and you may consider taking advantage of it by becoming an internet provider.
Because of the rapid increase of the internet, becoming an internet provider might be an excellent profession if you are skilled in technology. Without the internet in today’s life, there is no work that can be done.
From studying to running a business, filling out forms, and documents all is done online. Over 70% of the population uses the internet in Punjab thus making it one of the most profitable business ideas in Punjab.
This list of best business ideas in Punjab would be incomplete without this. Punjab has some of the most commercially successful venues in India for magnificent Indian weddings due to the richness of Punjabi culture. The state hosts destination weddings throughout the year.
Nevertheless, organizing such lavish parties is quite challenging. As a result, most families opt to contact a wedding planner to handle everything. It might be tricky to launch a wedding planning business.
You will need to manage various aspects of the wedding, including cuisine, location, décor, photos, attendees, music, invitations, and travel. You may also offer themed and unique wedding arrangements.
Certified Seed Production
Seed is the most important and significant agricultural resource, as it determines the performance of all other agricultural inputs.
In agriculture, seed functions as a catalyst. In the past three decades, the seed industry has achieved considerable advancement. Over the years, the amount of breeder seed and high-quality seed cultivated has constantly increased. Check the list of top apps for farmers written by me.
Seed certification is a quality assurance method in which seeds earmarked for sale are inspected and monitored by the government. The most successful endeavors include paddy, flowers, and vegetable seed production.
Livestock Feed Production
Punjab’s livestock farming industry is essential to the state’s economy. The most prominent animals are cattle, goats, and birds.
The buffalo is the state’s prime source of milk and related dairy products. Additionally, behind Haryana and Gujarat, the province stands first in the nation in terms of milk production.
One of the most successful business ideas in Punjab is livestock feed production.
Business Ideas In Punjab For Villages
Some advantageous business ideas that can be successful in villages of Punjab can be:
- Organic Products Manufacturing
- Flour Mill
- Fertilizer Production
- Retail Shops.
- Selling Farming-Related Products.
- Selling Yields To Nearby Cities.
Online Business Ideas In Punjab
Blogging is an excellent business idea. If you don’t possess sufficient capital to get started, blogging is your best option.
It can be a lucrative online business idea in Punjab that you can start right now for as little as 1000 rupees. To really get going, all you need now is a domain and a hosting service.
Afterward, you must generate excellent content that is valuable to anyone searching on google, which requires keyword research and SEO knowledge.
Once you have mastered that, your blog will begin to rise on google and you will start to attract traffic/website visitors, which you may monetize to generate income.
Online Fashion Boutique
In the coming five years, the online fashion industry will skyrocket, with revenues expected to exceed 700 billion dollars by 2022.
The nicest feature about this business is that you could always attract both middle and upper-middle-class customers and consistently boost sales. But keep in mind that your company strategy must be well-organized.
Fashion is a popular business idea for people in India, but that does not guarantee immediate success.
To be productive, you must obey some significant steps and your business planning, as well as how your competitive landscape fairs out or how you promote your brand. Keep in mind that brand image and labeling are the heart of the fashion industry.
Govt Schemes In Punjab For Small Businesses
With so many business ideas in Punjab, we must know that many people today are starting their own ventures and the state government really helps and supports them with the many government schemes for small businesses.
It is because of the innovations and entrepreneurship that one sees economic growth of a state which is why the government offers many schemes to help different businesses. Punjab really excels in sectors like industries, agriculture, healthcare, education, transportation, sports, arts etc. Not just this, the state has also been blessed with human capital, infrastructure, and progressive people who bring booming success.
Because of this, the state recognizes entrepreneurship as the key to the economic growth of the state. You can know all about the many startup schemes that the Punjab government has here. Some of the schemes are as under:
|Seed Funding||A Seed Grant of up to INR 3 Lakh per start-up shall be provided for, prototype development, validation of the idea, costs and carrying out field/ market research/ skill training/, assistance towards travelling, marketing and initial activities to set up a startup etc. Seed funding to, Startups would be routed through State/Centre recognized Incubators.|
|Interest, Subsidy on term loan to SC Entrepreneur/ Women Entrepreneur||Interest, subsidy @ 5% pa only to SC Entrepreneur/ Women, Entrepreneur subject to a maximum of Rs. 10, lakh per year for 3, years|
|Additional State Support of interest subsidy under Credit Linked Capital Subsidy Scheme (CLCSS) of Ministry of MSME, GOI||Interest subsidy of 5% is subject to a maximum of 5 lakh per year for a period of 3 years and shall not exceed the amount of net SGST paid during the relevant year to such units eligible under the CLCSS scheme.|
|Financial assistance to SMEs for the ‘Emerge’ exchange platform set up by NSE||To make the SMEs available on the ‘Emerge’ exchange platform set up by NSE, the State will provide the following incentives: 10% of the cost of Public Issue expenses, subject to a maximum of Rs.2.50 lakh for registration of National Stock Exchange.
Direct subscription up to 10% of the Public Issue to be provided out of corpus to be created jointly with SIDBI, Nationalized banks & the State Government subject to a maximum of Rs. 10 lakh.
|Marketing Support||Assistance to MSME for showcasing their products at local, national and international event:@50% of total rent limited to? 10 lakh for the participation of minimum 5 units in Punjab Pavilion in International Trade Fairs abroad
@25% of total rent limited to? 3 lakh for Domestic Conferences and Trade Fairs.
Nil for Pavilion at Progressive Punjab Events and Conferences
Top Business Ideas Statewise
- 25 Best Business Ideas In Delhi With Low Investment
- 16 Small Village Business Ideas in Karnataka with Low Investment
- Best Business Ideas In Goa with Low Investment
- Most Profitable Business Ideas In Jaipur with Low Investment
- Best Business Ideas in Kashmir for 2022
- Top 12 Business Ideas in Assam You Must See before Starting
- 15 Top Most Business Ideas In Kolkata For Anyone Looking
- 11 Most Famous Business Ideas in Bihar
- 8 Booming Business Ideas in Kerala You Must Know
- Top 10 Business Ideas in Mumbai
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How Can Lio Help With A Business In Punjab?
With this list of business ideas in Punjab, we are sure that by now you have some idea of what your business is going to be with which Lio can definitely help you. Lio brings all of your records together in one location, allowing you to access them from your smartphone whenever and wherever you want.
The most important benefit of adopting Lio to organize data within a corporation is resource efficiency. A well-organized professional will waste less time rectifying errors, seeking information, and reducing clutter.
It provides a clear picture of the corporation’s plans, operations, and finances, which aids management in making decisions. Lio can be used by entrepreneurs to keep track of many sorts of information, including personnel records, news, corporate memos, etc.
Lio assists in interpreting the facts and reducing the noise in a business’s information portfolio, which is a major action motivator in any topic involving the organization.
Lio is definitely for the win and using it for your business is only going to make your journey smooth and easy to track.
Step 1: Select the Language you want to work on. Lio on Android
Step 2: Create your account using your Phone Number or Email Id.
Verify the OTP and you are good to go.
Step 3: Select a template in which you want to add your data.
Add your Data with our Free Cloud Storage.
Step 4: All Done? Share and Collaborate with your contacts.
How Lio Automation Can Help You Business Process
Automation surely does make a difference in running a business whether small or large. It can be tricky and overwhelming at first to switch all the business processes to automation but not with Lio.
Lio Automation gives you many amazing features that make your work super simple and effective. There are very many features that will help you and your business in various aspects. From connecting and staying in touch with your customers, to working together as a team, and everything in between, Lio Automation will truly make your business run smoothly and make it reach new heights of success.
If you are using Lio Automation for your business processes consider all your data safe and secure all the time. Not only is the data saved in the cloud, but it also offers a data versioning feature in which you can actually see the many changes the document or file has gone through and who has made those changes. You can save the version of the file as required by you.
Another great feature that Lio Automation offers is colour formatting the sheet. Colour formatting can help bring information and more clarity to the audience. Applying colours to different parts of any data will let you narrate a more effective story that easily catches one’s attention as well.
You can create dashboards for each file which would give you the clear details of your company’s operations, marketing campaigns, sales and other analytics. This is one useful feature that would truly make a difference to your business and help your see all the processes clearly so that you can make well-informed decisions.
Since customers are a big part of any business and staying in touch with them is a crucial job, Lio automation gives you the ability to automate Whatsapp communications. Automating WhatsApp communication is another popular trend that businesses can benefit from. With the help of this, you would be able to save a lot of time, boost your customer retentions and renewals, save a lot of money, have lower operating costs and much more.
Lio Automation also makes working in teams very easy with their Task feature. you can not just assign tasks to your team efficiently. You can set the priority of each task along with the due date. Your team will get a notification about the task automatically, even on Whatsapp, they can see their assigned tasks in the app, mark them complete, and you will get a notification on Whatsapp!
Not just this, Team management and work allocation are made super easy with Lio Automation. You can also work with teams in real-time and see all the changes happening.
You can share invoices and receipts with your customers while also sharing the payment links with them to make the whole transaction process smoother and absolutely hassle-free for everyone.
Lio also makes collecting valuable reviews from customers very easy with its automation process. Along with this, you can also manage leads very easily with the help of automation. Now no lead would be missed and can be responded to the minute you receive them.
There are several other amazing Lio automation features that are made so that you and your business can benefit from them. Excited to know more about it? Start with your Lio automation process for your brand and start your journey to success.
Frequently Asked Questions (FAQs)
Is it Necessary to have a Large Sum of Money to Establish a Small Business in Punjab?
No. Many enterprises can be founded from the luxury of your own home and do not need much capital. Many materials are now accessible for free as the online world advances.
To Establish a Business, How many Employees does Somebody Need?
There isn’t a clear remedy to this. You can make your own decision based on your requirements. A successful firm may be started and operated by a single person. However, if you require and can manage a team, you might begin with a group of three to four persons.
What are the Best Businesses to Start in Punjab?
Some of the most profitable businesses in Punjab are:
– Contract Farming.
– Creating Organic Products.
– Producing Organic Fertilizers.
– Graphic Designing.
Which are the Low Investing Businesses in Punjab?
The low investment businesses in Punjab are:
– Home-stay services etc.
Does one need an Educational Qualification in Punjab to Start a Business?
It is not important that you have an educational degree to start a business but if your business is related to any profession or license, you would need a degree for that.
Punjab is a great place to start a business since it is both lucrative and enjoyable. You have a wide range of small business options to pick from.
We have mentioned a few of them and discussed their chances of success in a state like Punjab.
To watch your business expand, remember to set measurable goals. So, what do you have to lose? Today is the best time to start your own business in Punjab!
I hope you have enjoyed reading this article on business ideas in Punjab and are ready to launch your own soon.