Here are some more project profiles to setup small scale industry. Readers may keep in view the following before venturing into any manufacturing activity:
The profiles available herewith are indicative and would require rework based on (i) product variation, (ii) production capacity being planned, (iii) unit location, (iv) investment size and (v) market conditions.
Further you should understand the sensitivities of going for manufacturing as a first time entrepreneur.
- Do you have related expertise?
- Do you have technical collaborations required?
- Are you buying the technology from a valid source?
- Did you check for job work or outsourcing kind of opportunities for the product being planned by you
- Did you identify a strong technical person to lead your manufacturing process, production planning, and inventory optimization.
- Did you check for the mandatory approvals for your manufacturing plant especially from Pollution Control Board or any other environmental protection entities, if applicable, in your case.
- Did you do enough research on the features and functions offered by your product and its market competitiveness?
- Did you check if there are any similar units for takeover. They could be sick units, or running units on the offer for takeover. You may talk to SFC, NSIC, Bankers, DRT like organizations for sick unit data. You may even go for a news paper advertisement announcing your interest to takeover a sick unit for your proposed product.
- Did you identify a consultant who can handhold your efforts
- Did you plan right the CAPEX and Working Capital. Please remember without working capital you may not aggressively go to market. You should think about marketing sources, marketing means and marketing budget well before you setup your unit.
If you would like to explore bank loan for the proposed project you may check with the SME branch of your banker and talk to DIC for PMEGP loan guidance.
The profiles are sourced from NSIC and other institutions and you may even talk to them for more information.