Assam is at its height of Ease of Doing Business. This means that starting a business in Assam is much easier and faster than it earlier was. The state has shown growth in various areas. These include areas such as tea production, petrochemicals, food processing, personal care products, handloom, and others. While speaking of Assam, we also need to keep in mind that Assam is rich in its natural resources like coal, limestone, water, and much more. Assam has flourishing industries which are getting further boost by the technology revolution. With the help of this growth, Assam is ready to nurture the mega employers of the future. Let us learn about some profitable business ideas in Assam in 2022.
“If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion” – Elon Musk.
Here are some of the likely profitable business ideas in Assam:
01. Educational Coaching Institutes
Providing quality coaching will attract a large number of students not only from Assam but also from other parts of northeast India. Among the people in this part of the country, there is a high aspiration to crack the competitive exams like SSC, JEE, Medical entrance. People of this part of the nation also has a high aspiration to become part of the administration of the country, in simple words people of Assam also aspire for Civil Services Exam. People of the Assam also set aside a substantial budget for education. All of this indicates that the industry of educational coaching is not fully explored in the state and this can be a good money-making business opportunity.
When we talk of business in Assam, tea becomes an automatic pick. Tea is a very popular drink in the state and most of the people in the State use to drink at least one cup of tea every day. More importantly, it is also a major export industry for the state. Opening a tea café or selling packaged tea, specialty teas, flavored tea, etc. will be a profitable business in the region. Assam is the largest tea-producing state of India and the largest tea-producing region of the world. Assam produces approximately 51% of India’s tea and Assam has a share of nearly 11% in the global supply chain of tea.
03. FMCG and Grocery Store
During this pandemic, the importance of grocery and FMCG shop is clear to us. It is a fact that without groceries and FMCG, it is not possible for humankind to survive. Starting a grocery and FMCG store will be a good small business idea in Assam and will also be a long-lasting business. The business can be started by a small shop or a storage facility can be built to continue the business with the help of technology like e-shopping or both online and offline businesses can be started together for the convenience of the customers.
04. Local Handloom
The handloom industry is said to be one of the oldest industries in the northeastern state of Assam. Assam has a rich art of handloom and people across the country want to possess the handloom products of the state. There are some E-Business stores that have been successfully leaving behind the big players online in this space. Tourists and the Assam diaspora in the rest of the country and people across the world want access to the handloom of Assam. This is an indication of the rising demand for handloom products. And this eventual increase in demand makes this field of business profitable in the current landscape. Some of the famous handloom products of the Assam are Muga Silk, Paat Silk, Eri Silk.
05. Tourism Business
Tourism is one of the flourishing sectors in the state of Assam. People from across the country and even from the outside of the country visit Assam to capture the natural beauty of the state with their eyes. The government of the state is also working to bring more boost in the tourism sector, recently the tourism minister of the state in an address said the people to visit the unexplored places tourist places of Assam. Indeed there are various unexplored tourist spots in the state. Businesses related to tourism such as transport, travel booking, tourist guide facilities are very profitable businesses in the State. By taking advantage of online marketing, you can reach out to larger customers.
06. Bakery Business
In the state of Assam the bakery business is doing exceptionally well even with a limited investment. This sector has a demand for readymade products all over the state. The bakery also depends on word-of-mouth. A customer favors repeating if they like the products. One can also expand the business by introducing franchises in various places if customers like the product and one finds it difficult to meet the demands.
07. Fish Farming
The department of fisheries of the state of Assam is aiming to promote and develop the economic farming of fish in the state. The fisheries department of the state government wants to promote the idea of commercially producing fish in almost all the water bodies in the state. It has also been seen that the fishery industry has grown in past few years in the state. Assam’s fish production has shown an increase of 3.73 lakh metric tonne (MT) in 2019-20 from 2.94 lakh MT during 2015-16 — a rise of 26.87% in four years. All of this expresses the increase in demand for fish in the market, which indicates that fish farming can be one of the profitable business ideas in Assam.
08. Health Care and Pharmaceuticals
Covid 19 has made most of the people bound to focus on health and nowadays people of Assam have also become much more aware of the health after Covid 19 Pandemic. Many startups are challenging the traditional business in the field of health care and even Assam has also produced successful entrepreneurs such as Ghanshyam Das Dhanuka and Dr. Rakesh Das in the field of healthcare. The health care products related to ayurvedic and organic ones to those that require formal licensing can be sold in this part of the country. Innovation is also setting in, and local chains are competing well with giant and established organizations. This can be said that this sector has not touched its full potential of the economic high and there are still lots of room for the new entrepreneurs to make an entry and make by selling the healthcare products online.
09. Financial Advising
Last but not least, Health Care and Pharmaceuticals is another Profitable business ideas in Assam. If one has a good knowledge of financing then he/she can start the business of giving financial advice. People of the Assam are now more conscious regarding financial investments than earlier. Recently in the past few years, it has been seen that many people in Assam are looking to invest their money in the right way. This indicates that if one becomes successful to set up a financial planning business, then he/she can expect a good number of customers. The businessman or woman can also receive the queries of customers through online mode, he/she can also online marketing as a tool for publicity, which may help the business to easily get the attention of prospective customers. This also seems to be a profitable business idea in Assam.
10. Waste Management
Waste disposal and management can be considered as one of the best small scale business. The field has huge potential. Waste management business has attracted people from all around the world. It targets the people who are interested on a greener and cleaner environment, like many government departments. Besides, it can be done by targeting people who can recycle waste into products.
There are examples of people collecting trash thrown by tourists like bottles and packets and transform them into handloom products. This work not only helps in earning livelihood for the owner but also for hundreds of workers. There are several other scopes in waste management business.
11. Agarwood & Related Products
The raw materials required for making Agarbatti or joss stick has a massive supply in Assam. The Agarwood made in Assam are sold all over India, Japan, Europe and the gulf. By nurturing this business, various industrialists and businessmen achieved great success in India and also in abroad. Besides, you can also setup a store selling these products.
12. Tiffin & Restaurant
Food is a necessity for everyone. Besides, with the growth of online platforms, many opportunities opened its doors for business minded people and for those with good culinary skills. Previously, to get success in food business revolved round it’s location, whereas now getting customers became relatively easy. In case you already own an offline business, you can think of expanding your business and add customers to your business. Invest some time on learning how to sell your food online and also the insights of selling food.
In fact, due to the pandemic people are now more inclined towards ordering food online. So, you can try your hands on this business for a better future.
13. Yoga and Fitness
We talked about food as business, now let’s focus on Yoga and Fitness. The popularity of yoga and other fitness services have been seen increasing lately. As now finding customers are not difficult, you can start teaching people and Add value to their fitness.
There are many types of fitness regimes which don’t usually get compiled in one fitness centres. The opportunity in this field is immense, and is ready to be explored.
14. Interior Design and Decoration
Art and craft has a separate fan base everywhere. Interior designing and decorating is the life side art and craft. Presently, people appreciate unique and interesting decors for their home, office, etc. Besides, the money you receive in return can also be handsome. If you are doing well, you don’t need to go out and look for customers, instead, customers will come looking for you. Also, still now the competition in this field is relatively low. Therefore, there are enough reasons to explore the opportunities in Assam and build a great career.
15. Digital marketing
The concept of digital marketing has brought a revolution to the world of advertisement. It is the type of marketing done with the help of digital channels or mediums like websites, social media platforms, blogs, email, apps, etc. Digital marketing helps connect a large number of audiences with the brand, and it also has proved itself effective in generating leads. Resulting in which the company can gather more revenue. Starting a Digital Marketing company in Assam can be a good idea, as the people of Assam are yet to discover the power of digital marketing.