Want to start your business but don't have sufficient funds, then this article will surely help you out! You only need to have a small investment of Rs 2-3 lakhs and your business is good to go. This is possible with the help of Modi government’s Mudra Scheme. Under this, the government provides loans to small traders for starting 75-80 percent of the business.
5 Profitable Business Ideas in which 80% Funds & Subsidy is given by Government:
Here are some good business options for you;
1. Papad Manufacturing Unit
Interestingly, one can start making papad under the Mudra scheme.
-
Investment Required for Papad Manufacturing Unit: An initial investment of Rs 2.05 lakh is needed.
-
Government Loan on Papad Business: A loan of Rs.8.18 lakh can be obtained in Papad business.
-
Subsidy by the government on Papad Business: One can get a government subsidy of Rs 1.91 lakh under the Entrepreneur Support Scheme for Papad business.
2. Curry & Rice Powder Business
We are well aware that the demand for curry and rice powder is increasing in India. There are no doubts that starting it will be a profitable business idea.
-
Investment Required for Curry & Rice Powder Business: For Curry & Rice Powder business you will need an initial investment of Rs 1.66 lakh.
-
Government Loan for Curry & Rice Powder Business: You will get a term loan of Rs 3.32 lakh & a working capital loan of Rs 1.68 lakh from the bank, under the Mudra scheme.
How much benefit will be you get from Curry & Rice Powder Business?
Well, the surprising part of this profitable business idea is that you don’t need any experience for starting it. The same is mentioned in the project profile on the Mudra Bank website.
3. Wooden Furniture Business
How much investment is required for Wooden Furniture Business? To start this profitable business idea, you need to have about Rs 1.85 lakh.
Government Loan for Wooden Furniture Business:
One can get a loan of around Rs.7.48 lakh under a Composite loan from the bank which comes under the Mudra Scheme. For this, you will need Rs 3.65 lakh as fixed capital and Rs 5.70 lakh for 3 months of working capital.
How much profit can you make from Wooden Furniture Business
Remember you can get profits only after starting this business. If you remove all the expenses, then you can benefit between Rs 60,000 - Rs 1 lakh.
4. Light Engineering Unit
Light engineering includes nuts, bolts, washers or nails, etc. This business can be started under the Mudra scheme of the government.
Investment Required for Light Engineering Business: For installing this unit you will require Rs 1.88 lakh.
Government Loan for Light Engineering Business: Under the Mudra scheme, the bank will offer you a loan of Rs 2.21 lakh as a term loan and Rs 2.30 lakh as working capital.
How much benefit will be made by Light Engineering Business?
Around 2500 kg of nut-bolt will be made in a month. Thus yearly, you can make a profit of around Rs 2 lakh by taking out the expenses.
5. Computer Assembling Business
The ones who are interested in business related to computers can opt for this profitable business idea of Computer Assembling.
Investment Required for Computer Assembling Business: For starting this business, you will need an initial investment of Rs 2.70 lakh.
Government Loan for Computer Assembling Business: You can get a loan of Rs 6.29 lakh from the bank for this profitable business idea.
Benefits by Computer Assembling Business: Yearly 630 units are made and by selling them one can make a profit of up to Rs 3 lakh. A fixed price has to be fixed for this business.
How you can get Mudra Loan?
It is easy to get a mudra loan. The interested ones who want to start with the above profitable business ideas can apply for a loan under the Mudra scheme. One can get this loan from any nationalized or private bank. The specialty of mudra loan is that this loan is 1-2% cheaper than other loans.
