Neem coating of Urea : Attractive business opportunity for small businesses

Neem oil production a big opportunity for small businesses?

Neem oil production – attractive opportunity for small businesses?

The recent GOI (Government of India) directive to urea manufacturers to compulsorily coat 75 per cent of their urea with neem is likely to result in huge incremental business opportunity worth ~INR 5000 Crores for small businesses…

http://www.thesmetimes.com/index.php/extras/latest-news/2297-neem-coating-of-urea%E2%80%93attractive-business-opportunity-for-small-scale-industries-ssi-and-small-and-medium-enterprises-smes.html

 

Share This:

6 important things to consider before selecting a business for you!

Small Business

Small Business

Wanting to start a small business, read a list of 6 things to consider before you start..
1. What are your key competencies?
Areas you have knowledge about because of your prior work experience, your strengths, hobbies etc. For example, if you are working in a pharmaceutical company, then manufacturing drug intermediates may be easier for you. Many successful IT companies of today were started by employees of erstwhile software companies who could asses a gap in the offering. In fact, Hyderabad owes its status as a bulk drug capital to IDPL, which had a large pharma plant here. Many pharma companies have been set up by erstwhile IDPL employees.
2. What are the physical resources you have?
Resources that can be used.. for example if you have an empty house, you could do a small business that requires space (not necessarily commercial space), small business such as stitching school uniforms, assembling solar lanterns, making handicraft items.
3. What are the demand gaps you have personally observed?
Inferior quality food served in your canteen, lack of a nice gift shop in your neighbourhood, service quality issues in the gym, lack of reliable metal cutting service providers for machine tool manufacturers in your industrial estate…?
4. What is your budget?
Starting a business can be a costly affair, and expenses often overshoot the budget. While fixed and working capital are generally estimated correctly, entrepreneurs tend to underestimate marketing expenses. Also budget should include living expenses for at least a year for the entrepreneur and his family. Start to think how will you mobilize those resources, how to avail a small business loan?
5. What is the competition in your proposed small business?
How are other players who are offering similar services performing? FineTrain can assist you in understanding peer performance on various business and financial parameters. http://finetrain.com/#link2.
6. What will differentiate you from others?
As it is said devil lies in execution..idea may be similar but how you execute matters the most. How’s the product different? How are you delivering? Is execution/service significantly different?
It’s a good idea to assess the viability of a business before committing your energy and time to it. FineTrain team can assist you in identifying the right business opportunity and assessing its viability for you, write to us at admin@finetrain.com

Share This: