Women’s participation in the Indian workforce has traditionally been on the lower side. The nation ranks a low 120 out of 131 nations in women labor force participation. Currently, women’s contribution to the country’s GDP is 17%. It is less than half of the global average and much lower than China’s 40%.
India has to tap into her massive female workforce to emerge as one of the leading economies of the world. As per estimation, the nation can add 49 Lakh Crore to her GDP if women’s participation in the workforce increased by 10%.
In a welcome trend, more single mothers are taking steps to earn their own living. Here are a few great business ideas for women that can help them self-sustain.
- Childcare Centre
Childcare centers one of the most popular business ideas for women and single mothers. It achieves two purposes – they get to stay at home with their children and can earn a healthy profit while taking care of other’s kids.
- Bakery/ Catering
Those who love baking or cooking may open a home bakery or catering service. They can also sell their products to local bakery stores or cafes.
- Beauty Parlour
Opening a beauty parlor is one of the most profitable small business ideas for women. It requires an initial investment to purchase quality products and train the staff. Adequate space is also required to operate this business. However, it is a lucrative business to start with an almost immediate return on investment.
- Handmade Products
There is a big market for handmade products in India. They are exquisite and exclusive, making them valuable commodities. Selling these products is now easier with e-commerce sites like Amazon offering services such as FBA. You just need to send the product to their Fulfilment Centre, and they’ll take care of the packaging, shipping, and all other logistics. Also, women can open a handicrafts store dealing with various handmade products. It’s one of the most useful business ideas for women.
If opening a business from scratch seems like a daunting task, you can always take a franchise of an established chain and benefit on their brand value. You may also apply your own ideas on how to run the store.
Although most of these business ideas do not require a substantial investment, you may need money for the initial purchase of raw materials and equipment in certain cases. The best way to arrange for sufficient funds is to take a Business Loan for Women from financial institutions. They offer types of business loans with loan amounts of up to Rs. 30 Lakh with minimum documentation.
Women have a massive role to play in the revival of the Indian economy in the 21st century. These business ideas for women are good first steps in that direction.