small scale business ideas: Start profitable business and earn money
If you are looking for small business idea with little money or planning to start a business, the first step is learning as much as you can about the business.
Today we are going to tell about one such business. By starting this business, you can earn good profit.
To start this business, you will have to invest some money and the most important thing is that if you have a shortage of cash then you can also take help from the central government. Let us tell you everything about this small profitable business.
Which business can I start?
Let us tell you that today, the demand for cutlery remains in every house. So you can earn good money by starting hand tool making business.
In this business, you can make hand tools and some important tools used in farming. Also you can export your product on a large scale. In this, apart from this, you can also make other tools like grafting knife, pruning knife and secateurs.
Which products can you produce?
In this business, you can make hand tools and also some important tools used in farming. Apart from this, there is a lot of demand for this type of hand tools.
For the setup cost of this business, you will have to spend about 1.5 to 2 lakh rupees. For this you will need drilling machine, welding set, hand drilling, buffing motor, bench, panel board, bench grinder, hand grinder, and other tools.
Apart from this, you will have to spend about 1 to 1.25 lakh rupees on raw material. At the same time, you will have to spend 20 to 35 thousand rupees every month on the salary of the works working.
Mudra loan facility from the government
Out of your total setup cost or working capital, you will have to spend Rs 1.20 lakh from yourself.
Apart from this, you can take the help of the government for the rest of the investment including term loan and working capital. You can start this business under the Mudra loan given by the government of India.
How to apply for Mudra loan from bank
To avail Mudra loan for your new business, you can apply in any bank under the Pradhan Mantri Mudra Yojana.
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You will have to fill a loan application form, in which details like your full name, home address, business address, your education, experience, current income and how much loan is required.