What are the best investment opportunities? I want to setup a manufacturing unit. What is the best one? Should I go for manufacturing activity for my proposed business or should I go for trading of items?
The above questions are very common for a budding entrepreneur. The answer is same any time. Check yourself:
- Do you come with experience in the proposed business if not who will support you technically in the manufacturing and production line. Is he an employee? Is he going to be your partner? Is he a Consultant? Or you like to go ahead buying know how from a research organization?
- Did you go for market research to understand the product relevance, product acceptance, competition, price, availability of human expertise, possibility of getting outsourcing contract, market geographies and more.
Consult any of the following industry promotion organizations for marketing, technology, advisory or mentoring support:
- National Research Development Corporation (NRDC)
- National Small Industries Corporation (NSIC)
- District Industries Center (DIC)
- MSME Development Institute (MSME)
- Export Promotion Councils for respective industry sectors
You have other organizations like Khadi and Village Industries Commission (KVIC) who will support you in setting up micro and small industries in villages and who are also the PMEGP implementing agency.
Here are some more project profiles drawn from various government sources. You may keep in view the following before using these profiles:
The profiles available herewith are not current and will require rework based on (i) product variation, (ii) production capacity being planned, (iii) unit location, (iv) investment size and (v) market conditions.
May please remember that you will need to get ready with the following documents before approaching for a bank loan for your proposed business.
- Detailed Project Report with supportive documents
- Promoters profile with supportive documents
- Quotations for procuring infrastructure or machinery for the proposed unit
- Marketing tie-ups or marketing partnership if you had any
- Letter of Intent from prospective buyers that they would be keen to buy the produce from your plant
- Partnership deed or company incorporation certificate
- Bank Account in the name of the company
- SSI Provisional registration certificate
- Tax registrations if any done
- Lease document for the project site in the name of your company
- Security / Collateral documents
- Technology tie-up if any entered into for procurement of technical know-how
You may need to submit many more documents beyond what are specified above contextual to your project.
Best wishes for your new venture.