Business is no longer the domain of men and women are as successful in starting their own business and seeing them through to success. In fact, there are some businesses which are especially the domain of women and they can do very well in it if provided with the right infrastructure and financing. This article talks about some business ideas for women:
- Boutique store: While there are many prominent men designer out there, women generally are more fashion conscious in our regular lives and so having a boutique store for niche clothes is a great business idea for them. Fashion has evolved a lot in recent times and it has also become more accessible, thanks to the internet and a good boutique store selling great clothes is sure to have buyers.
- Beauty Industry: Salons and beauty parlors are almost always owned by women and if a salon provides good hair and skin treatments, women are going to line up in no time. Setting up a salon can require a good deal of capital, because investment is required on good products and hiring beauticians to carry out various services. A collateral free loan for women entrepreneur can help you with the finances.
- Home food packaging: Pickles and other similar dry food items is a thriving small industry and they form a huge percentage of many self help groups. Investment is low and yet with good quality food products and their packaging, women can gain financial independence, taking care of their family at the same time.
- Crafts: While there are many skilled craftsmen in the industry, women are also a major part of the workforce and there are certain delicate tasks to be accomplished which are mostly done by women. Almost every community has some kind of handcrafted goods and showcasing them will be for the betterment of the craft as well. Starting a handloom business or other similar activities has great business scope for women since they know the cultural nuances better than anyone.
When it comes to financing for business owned by women, there are a number of banks and NBFCs who have special business loan for women. While asking from friends and family or opting for crowdfunding is always an option, opting for a business finance is the most secure and there are a number of schemes from various lenders that one can take advantage of. Loan for women have low business loan interest rate and there are number of other benefits they can enjoy like longer tenure and easy repayment options.
The business loan eligibility varies from lender to lender by and large, the business has to be at least two years old. The terms are also somewhat more lenient for women. However, it is equally important for a women entrepreneur to have a good credit score and all other documents regarding the business and the IT returns of the last three years has to be submitted to avail the loan. Lenders will also look into the business strategy and so it is a good idea to form a business plan to show where you expect the business to be in the next five or ten years.