Maharashtra is the largest industrial state in India, contributing about 13% of the national industrial output. This state also has a booming IT sector.
Aspiring entrepreneurs from all across the country are coming here to establish their startups. One of the primary reasons behind the popularity of this region is the readily available business loans in Maharashtra.
Financial institutions have eased the process to avail such credits so that individuals can bring their business ideas to life.
Here are the best business ideas in India that can generate maximum opportunities in Maharashtra.
i. Acting school
Maharashtra is famous for its movie industry. The movie industry is growing at a rapid speed. Introduction of various innovative technologies, along with the presence of talented professionals, has provided the impetus to this growth. Individuals with experience in this niche and looking to start a business in this region can opt for this venture.
Companies from various industries look for profitable consulting firms to enhance efficiency and increase their revenue. Generally, consultants are employed by organisations which have a plethora of projects. Individuals who are looking to invest in this business are required to have a clear idea regarding the type of projects they want to work on. You can also build a successful IT consulting business owing to the immense demand in this field.
iii. Travel agency
Maharashtra is famous for its tourist destinations; it was the most visited state by domestic tourists in 2010. The tourism sector has considerably evolved in the past few years. Ventures around tourism are flourishing in this country, and a travel agency has emerged as a lucrative option.
You can also take your travel agency online to reach more customers. Growing your e-commerce businesses by following the right tips can help you expand your establishment.
iv. E-waste recycling
The amount of electronic product waste is continuously growing throughout the globe. Increasing volume of old printers, radios, computers, TVs, mobiles and other electronic devices are adding to the massive accumulation of waste. E-waste recycling has emerged as one of the most profitable industries prevailing currently by making the environment toxic free.
The prime objective of ventures like this is to transfer e-waste into beneficial raw materials like metals, plastics, glass, etc.
However, such ventures can come with substantial expenses. Hence, individuals can avail a business loan in Maharashtra to meet the required costs.
Import and export business can turn out to be a lucrative business for entrepreneurs. They can start a new venture or expand their existing business by starting import and export. It can be started as a home-based venture with a scope of expansion with the growth of a market.
Various financial institutions offer a business loan in Maharashtra to aid individuals to fund such ideas.
vi. Servicing business
It is a venture that provides services by completing a specific task on behalf of a client. The area of operation in case of such investments can be extensive. It can include maintenance, plumbing, repair, electrical works, etc.
The primary area of expenses in a servicing business is purchasing the equipment required. As the purchasing requires a considerable amount of funds, individuals can avail a business loan from financial institutions that offer a high loan amount.
NBFCs like Bajaj Finserv offers a high loan amount of up to Rs. 30 Lakh in case of such credits. Some of the other benefits that they provide include flexible tenors, affordable business loan interest rates, online loan account management facility and more.
In addition to the businesses mentioned above, there are also various manufacturing ideas that you can be fruitful. However, manufacturing businesses may require significant expenses for operation. As business loans in Maharashtra re readily available, you will be able to meet such costs easily.