Growing Industries to Start a Business. Best Small Businesses Opportunities

 

Self-employed is a situation in which an individual works for himself instead of working for an employer that pays a salary or a wage. A self-employed individual earns his income through conducting profitable operations from a trade or business that he operates directly. Although the precise definition of self-employed varies among the Bureau of Labor Statistics, the Internal Revenue Service and private research firms, self-employed people generally include independent contractors, sole proprietors of businesses and those with partnerships in businesses.

Reasons Being Self-Employed is better than being an Employee:

·         No Boss

A common motive for people to become self-employed is to avoid dealing with a boss. You don't have to worry about a manager directing your daily activities or criticizing your work. Self-employed people do have to answer to customers and clients, but they aren't perpetual or binding relationships, in most cases. If you prefer to direct your own work and choices as opposed to taking management direction, self-employment makes sense.

·         Choose Your Path

Closely related to the benefit of being your own boss is the reality that as a self- employed person, you choose the path or direction for your work. You have decision-making authority over the nature of your business, the activities and projects that you engage in and the clients and customers you work with. You can also set or change your policies. In essence, you only have yourself to complain to if you don't like the work environment.

·         Choose Your Structure

When self-employed, you also get to choose how to structure or operate your business. The simplest approach is sole proprietorship. This requires little to no formal paperwork and record keeping and you can include business income on your personal tax filing. You don't get the same protection from personal financial liability that comes with a limited liability company setup, though. With an LLC, your business is treated as a separate financial entity, but you have to register in your state and keep business records. An S-corporation is another option, which merges benefits of proprietorships with those of corporations. Ultimately, you get to decide which structure fits your needs and goals.

·         Flexibility

A huge draw for self-employment is flexibility. With no boss, you can set your own schedule. This makes it easier to participate in family activities or attend your children's school events. If you provide services, you can work during hours that best fit your schedule and work habits. You also get to choose where you work. If you run a store, you naturally work at the business. Otherwise, you can work out of an office or from home.

·         Financial rewards

A business may become very profitable. Companies are willing to pay more to independent contractors because they don't have the expensive, long-term commitments that they do with permanent employees, such as benefits, unemployment compensation and pensions. Independent contractors may also deduct business expenses from their taxes, which may increase their net pay. Many successful businesses in Canada are run by newcomers or immigrants.

 

Here are few Self-Employment Business Opportunities:

Melamine Crockery

Melamine is used to form melamine formaldehyde resin, which find many applications in our commonly used household products such as furniture, kitchen countertops & storage, bathroom cupboard, dinnerware, food storage containers, cars, and banknotes.Unbreakable plastic crockery ware is very popular in households and hotels. They are made of melamine formaldehyde moulding powder. The products include Cup and Saucer Sets, Plates, Bowls and Dinner Plates. The main advantages of Melamine Crockery over the conventional Crockery are unbreakability, odour-free, heat and shock proof and scratch resistance, lightweight and non-toxic.: Melamine Crockery is available in eye-catching colours, attractive designs and finishes.

Crockery market comprises pottery, kitchenware and tableware. Indian tableware market size is Rs 10 bn (excluding stainless steel) of which opalware comprises Rs 3.5 bn.

Key Demand Drivers:

• Growing Mass Affluent: Mass Affluent i.e. households with disposable incomes from `200,000 to 1,000,000 per annum comprises about 50 mn people, roughly 5% of the population (Source: McKinsey Survey in 2007 for India). By 2025, mass affluent segment is expected to increase to ~ 583 mn people, or 41% of the population. With its rising numbers and incomes, mass affluent is becoming the biggest market segment for the industry.

• Increasing Disposable Income – increase in potential to spend: The average annual disposable income in India increased by more than 29% in real terms between 2007 and 2012 while consumer spending was up by more than 25%, which has led to shift from ordinary to fashionable crockery, fueling demand in the process.

• India is expected to grow at a fast pace in next four years. The rapid economic growth will increase and enhance employment and business opportunities, which in turn, is expected to further increase disposable incomes and aspirations.

• Changing Life Style – adding to the status symbol: There is a radical change in the attitude of consumer behavior in India, riding on the back of higher disposable income, changing lifestyle, urbanization of semi‐urban and rural communities, more push towards aesthetics, increasing consumer awareness, brand consciousness and innovative promotional campaigns.

• Indian consumers are also more optimistic and increasingly willing to spend on branded products. With the changing pattern of consumer behavior and consumer spending, companies in India are also tweaking their strategies to retain their loyal consumer base, while attracting the emerging young consumers

Hospital Bed

Hospital beds permit body positioning that is not feasible in a regular home bed. They also permit the attachment of other pieces of equipment that cannot be used on a regular home bed. Always raise the foot section of the bed slightly before raising the head to help prevent the patient from sliding to the bottom of the bed.

On the basis of power, the hospital bed market has been categorized into manual, semi-electric, and electric beds. The manual bed category dominated this market during the historical period, with 49.1% contribution in 2017. Due to their economic viability, manual beds are highly preferred by the end users. Based on treatment, the market has been categorized into acute care, critical care, and long-term care beds. During the forecast period, the hospital bed market for critical care is expected to grow the fastest among all types, with a CAGR of 6.0%. This growth is attributed to the fact that critical-care beds allow lateral tilting of patients, which helps in blood circulation and prevents ulcer formation, and also enables x-ray scanning on bed by pressure redistribution. In addition, these beds provide support to staff due to the presence of multifunctional touch screen pads.

Aluminium Bottles (Cold Extrusion of Aluminium)

An aluminium bottle is a bottle made of aluminium (or aluminum, in American English). In some countries, it is also referred to as a bottlecan. It is a bottle made entirely of aluminium that holds beer, soft drinks, wine, and other liquids. The aluminium bottle can is made of 100 percent recyclable aluminium similar to that of an aluminium beverage can. However, it is shaped similar to a traditional beverage bottle, with many designs including resealable lids.

Sport bottles market can be classified mainly into stainless steel bottles, plastic bottles, silicone bottles and aluminum bottles. Stainless steel bottles are manufactured from natural elements that can be recycled. The insulating attributes of stainless steel bottles help in keeping water cool for 24 hours. Silicone sport bottles are advantageous in a way that they are light in weight, portable and squeezable. Plastic sport bottles can be molded into shapes and sizes as required, and are available in various color shades thus, giving it an attractive appearance. Aluminum bottles have a visual appearance similar to that of stainless steel bottles. They are cheaper, recyclable and also maintains the water temperature.

Automobile Gear

An automotive gear is a rotating part containing teeth, which forms a mesh with another toothed machine part or gear and transmits torque. The gears can change torque, speed and direction of the power source. Automotive gears are of various types, including spur gear, bevel gear, planetary gear, helical gear, rack and pinion, and others. An automatic transmission is a type of motor vehicle transmission that can automatically change gear ratios as the vehicle moves, which prevent the driver from shifting the gears manually. Increasing demand for automatic transmission in vehicles is one of the growing trends witnessed in the automotive industry, which has increased the demand of the automotive gears due to its automatic function that provides ease in driving of vehicle. Automatic transmission also helps in achieving better fuel efficiency and less wear and tear of the gears which results in long life of gears.

The auto-component industry of India has expanded by 14.3 per cent because of strong growth in the after-market sales to reach at a level of Rs 2.92 lakh crore (US$ 43.52 billion) in FY 2016-17. The auto-components industry accounts for almost seven per cent of India’s Gross Domestic Product (GDP) and employs as many as 25 million people, both directly and indirectly.The Indian automotive aftermarket is expected to grow at a CAGR of 10.5 per cent and reach Rs. 75,705 crore (US$ 13 billion) by the year 2019-20, according to the Automotive Component Manufacturers Association of India (ACMA).

DTP and Offset Printing

Digital printing refers to methods of printing from a digital-based image directly to a variety of media. It usually refers to professional printing where small-run jobs from desktop publishing and other digital sources are printed using large-format and/or high-volume laser or inkjet printers. Digital printing has a higher cost per page than more traditional offset printing methods, but this price is usually offset by avoiding the cost of all the technical steps required to make printing plates.Offset printing is a commonly used printing technique in which the inked image is transferred (or "offset") from a plate to a rubber blanket, then to the printing surface. When used in combination with the lithographic process, which is based on the repulsion of oil and water

Digital printing market analysis shows that the industry is better suited to the changing demands of print buyers - and importantly, to end consumers of print - than offset is. Primary research conducted highlights the continuing demands of buyers for lower run lengths and faster turnaround, and the use of versioning and personalization is continuing.Moreover, the primarily factors responsible for the growth of offset printing press market are its high and consistent image quality, and cost benefits. Basically, there are two kinds of offset printing press which are commonly used for publication nowadays. Further, in sheet-fed offset printing, single pages of paper are served into the machine and are in high demand in advertising company for making brochure, templates, and single page marketing advertisement.

Digital Printing Unit

Digital printing refers to methods of printing from a digital-based image directly to a variety of media. It usually refers to professional printing where small-run jobs from desktop publishing and other digital sources are printed using large-format and/or high-volume laser or inkjet printers. Digital printing has a higher cost per page than more traditional offset printing methods, but this price is usually offset by avoiding the cost of all the technical steps required to make printing plates. It also allows for on-demand printing, short turnaround time, and even a modification of the image (variable data) used for each impression.

The digital printing market is expected to grow from USD 21.08 Billion in 2016 to USD 28.85 Billion by 2023, at a CAGR of 4.48% between 2017 and 2023.

Gold and Silver Jewellery

Gold is more than a precious metal in Indian culture and is truly entrenched in their belief system. Over centuries and millennia, gold has become an inseparable part of the Indian society and fused well into the psyche of an Indian. Gold Jewellery forms an integral part of Indian tradition. 24 carat is the purest form of gold available on the surface of Earth. Demand for gold in India has witnessed an increasing trend in the past, despite soaring prices of gold for many years now. Gold and silver are considered as sacred metals by Hindus.

Silver in jewellery has always been the preferred metal for young people. More recently, because of the high price of other metals, it has become more popular among the middle-aged and the elderly as well. Silver jewellery remains a popular gift item. It is fashionable, affordable and increasingly more personalized. The main occasions for buying jewellery are Christmas, Valentine’s Day and weddings.

India is one of the largest markets for gold, and growing affluence is driving growth in demand. Gold has a central role in the country’s culture, considered a store of value, a symbol of wealth and status and a fundamental part of many rituals. Gold in India is also universally valued a store of wealth. That is the other major driver of demand. Gold jewellery products provide a tangible way to preserve wealth while at the same time serving the cultural function of providing decoration and displaying wealth. Indian consumers will always favour gold above other jewellery materials because of its dual role.At steady gold prices, demand for such products will grow faster than demand for gold jewellery products simply because it is still in the nascent stage.

Global gold jewellery demand during 2017 increased by 4% to 2,135.5 tonnes (t), the first year of growth since 2013, driven by stable gold prices and improving economic conditions,

The popularity of silver jewelry stems largely from the price of the metal. Relative to other precious metals, such as platinum and gold, silver is cheap. China is one of the world’s top silver consumers and its fondness of the metal apparently extends beyond investment interests and manufacturing. China’s silver jewelry market grew 211 percent. This growth has been attributed to exposure across the country’s interior. Urbanization is expected to continue fueling expansion as more retail jewelry outlets open in major Chinese cities.

The gems and jewellery market in India is home to more than 300,000 players, with the majority being small players. Its market size is about US$ 60 billion as of 2017 and is expected to reach US$ 100-110 billion by 2021-2022. It contributes 29 per cent to the global jewellery consumption.

Stuff Toys

A toy animal sewn from woven or felted fabric and stuffed inside with a lightweight fluffy material such as synthetic fiberfill or wool roving. Stuffed animals are commonly made for young children to sleep and play with. Plush/Plush Toy - a stuffed animal made A stuffed toy is a toy with an outer fabric sewn from a textile and then stuffed with a flexible material. In North American English, they are variously referred to as plush toys, stuffed animals, plushies, snuggies, stuffies, or snuggled animals. In British English, they are soft toys or cuddly toys.

The toys developed in their current form in the early years of the 20th century and have remained consistently popular with children throughout. Different fads have caused specific toys to surge in popularity among adults and collectors from cloth with a deep luxurious pile.

With the growing population of children, demand for the stuffed & plush toys will continue to increase in the global market. Increasing demand for comfort and soft creature toys has led the manufacturers to opt for sponge, fur clothing and cotton for the production of stuffed toys.

Demand for the stuffed & plush toys is mainly bound to surge in the number of occasions and events globally. Birthdays, Valentine’s Day, Christmas and New Year are some of the occasions that will continue to boost sales of the stuffed & plush toys in the global market. With the increasing number of traditional occasions, manufacturers are focusing on offering festive toys in the global market. Moreover, increasing number of puppet shows is expected to rev up sales of the stuffed & plush toys in the global market.

However, growing need to comply with various compliances is expected to impact growth of the global stuffed & plush toys market significantly. Several federal and state regulations imposed has led to stringent checking of the stuffed & plush toys before the launch. Moreover, imposition of safety regulations by the Federal Trade Commission regarding the safe manufacturing of the stuffed toy products is likely to boost sales globally. These factors are expected to contribute towards growth of the global stuffed & plush toys market.

As preference for playing with stuffed toys increases, demand for the dolls & play sets is expected to remain high in the global market. On the basis of product type, the dolls & play sets segment is expected to represent the highest revenue growth, accounting for a value of over US$ 900 Mn by the end of 2026. On the other hand, the special feature plush and puppets product type segment is expected to register a robust CAGR during the forecast period.

Based on sales channel, the hyper/super market segment is expected generate significant revenues, recording a value of over US$ 500 Mn by the end of 2017. However, the other sales channel (electronic and video stores, gift shops) segment is expected to register a healthy CAGR through 2026.

By stuffing materials, the synthetic toy fillings segment is expected to witness robust revenue growth, accounting for a value of over US$ 1,100 Mn by the end of 2026. In contrary, the organic toy stuffing materials segment is expected to register a significant CAGR throughout the forecast period.

Knitted Fabric

Knitted fabric is a textile that results from knitting. Its properties are distinct from woven fabric in that it is more flexible and can be more readily constructed into smaller pieces, making it ideal for socks and hats. Its properties are distinct from nonwoven fabric in that it is more durable but takes more resources to create, making it suitable for multiple uses.

Formaldehyde

Formaldehyde (systematic name methanal) is a naturally occurring organic compound with the formula CH2O (H-CHO). It is the simplest of the aldehydes (R-CHO). The common name of this substance comes from its similarity and relation to formic acid. Formaldehyde is an important precursor to many other materials and chemical compounds. In 1996, the installed capacity for the production of formaldehyde was estimated to be 8.7 million tons per year. It is mainly used in the production of industrial resins, e.g., for particle board and coatings.

The demand for formaldehyde is continuously rising due to its increasing use in the production of various resins. These resins are being used in various industries for manufacturing purpose. Formaldehyde is also being used in producing home building products. Formaldehyde is also known for its preservative and anti-bacterial properties. Hence, medical laboratories and some consumer products are also using formaldehyde as a preservative. The global consumption of formaldehyde is increasing as it is being used on a large scale for construction and remodeling activity and furniture production. Due to the excellent thermal and chemical resistance, formaldehyde-based resins are being used in manufacturing airplane and automobile parts. Formaldehyde is also being used in manufacturing anti-infective drugs, hard-gel capsules, and vaccines. 

The global formaldehyde market has been segmented into application, derivatives, end use, and region. On the basis of derivatives, Urea Formaldehyde (UF) resins and concentrates is likely to witness the highest growth in terms of volume throughout the forecast period from 2017 to 2026. Based on the application, the market is further segmented into resins, drying agents, plasticizers, solvents, fibers, and other chemical intermediaries. Formaldehyde is expected to find the largest application in resins during 2017-2026.

Acrylic Yarn Dyeing

Acrylic fibers are synthetic fibers made from a polymer (polyacrylonitrile) with an average molecular weight of ~100,000, about 1900 monomer units. The polymer is formed by free‐radical polymerization in aqueous suspension. The fiber is produced by dissolving the polymer in a solvent such as N, N‐dimethylformamide or aqueous sodium thiocyanate. Acrylic is lightweight, soft, and warm, with a wool‐like feel. It can also be made to mimic other fibers, such as cotton, when spun on short staple equipment. Two ways of obtaining perfectly even distribution to dyestuff in acrylic fiber. Migration properties of the dyestuff can be utilized to get desired effect, provided the dyestuff is not immediately fixed during adsorption on fiber surface and fiber sites having affinity for dye stuffs are distributed evenly in fiber.  The buildup of dyestuff during first phase of dyeing can be controlled so that no migration takes place after absorption.

Textile Dyes market is projected to grow at a CAGR of 7.25% over the projected period to reach US$7.982 billion by 2022, from US$5.625 billion in 2017.

Textile dyes are used in the process of adding colors to textile products like fibers, yarns, and fabrics. Preference of natural dyes, growing demand for colored textiles and fibers and strong research and development investments in plant based dyes are the factors driving the market, whereas stringent environment laws, production overcapacity and raw materials price volatility are restraining the market growth.

Growing demand for environment-friendly products is boosting the use of natural dyes in textile applications, which in further led to the increase in sales of dyes. Asia Pacific region is expected to witness highest market growth due to the increase in urban households, new applications of textile products and rapid growth in the online fashion market.

Steel Furniture

With the growth of industrial, commercial and household activities the demand of office automation, equipments and steel furniture has increased considerably, Steel furniture is preferred over other kinds of furniture due to its durability, foldability (in many cases) and easy transportability.

Steel furniture is home to the important role of masculinity, and now has become more and more attractive steel furniture. Steel furniture is both material goods, but also art, and this is often said that two important characteristics of stainless steel furniture. The steel almirahs, steel cup boards and steel chairs find their extensive use in industrial, commercial and household activities. These items are also used by various Govt. organizations. With the growth of industrial, commercial and household establishments, the demand of steel furniture items has increased considerably. Various Govt. organizations also procure these items directly or through annual rate contract system. Hence there is a good market potential for above items.

Tailor's Chalk

Tailors' chalk is a square, circular or in the form of a triangular shaped product having a thickness of around 5mm. The product is used by the tailors for making on clothes, so that the cloth can be cut according to the marked lines. Tailors' chalks are manufactured in white as well as in various colours to be suitable for marking on clothes of various colours. A chalk-like material used for marking alterations on fabric in tailoring and dressmaking. The marks are brushed or washed off the material when no longer needed. Dressmaker’s chalk is one of the marking tools with the longest tradition in tailoring and sewing. The chalk slabs are an essential item in every tailor's or dressmaker's equipment.

Tailor’s chalk is traditionally a hard chalk used to make temporary markings on cloth or a garment.  This type of special chalk marks the spot on a garment where a garment might need to be taken in or let out, shortened or mark the placement of where to place an embellishment making it easy to see the exact placement. Tailor’s chalk usually comes in a rectangle shape that at times appears like a small piece of soap however, it can also be found in crayon shapes and in several different colors so that it can been seen on the marked object.

Air Conditioner (Window Type)

An air conditioner is a system or a machine that treats air in a defined, usually enclosed area via a refrigeration cycle in which warm air is removed and replaced with cooler and more humid air. In construction, a complete system of heating, ventilation, and air conditioning I s referred to as HVAC. Window air conditioner is sometimes referred to as room air conditioner as well. It is the simplest form of an air conditioning system and is mounted on windows or walls. The evaporator side is located facing the room for cooling of the space and the condenser side outdoor for heat rejection.

Window and room air conditioners use refrigeration principles to extract heat and moisture from room air, cooling and dehumidifying the air.  The basic components inside the unit include a blower and/or fans for moving cooled air into the room and exhausting warm air, and refrigerant components for extracting heat from the air. Those components include a compressor, evaporator coil, refrigerant-filled tubing, and condenser coil. Most window and room air conditioners have thermostatic controls.

Air conditioners are divided into two segments based on their application i.e. residential and commercial:

Residential or room air conditioners are further sub-divided into window air conditioners and split air conditioners. Spilt air conditioners are popular in India whereas the market for window ACs is fast disappearing.

In commercial segment, light commercial air conditioners, ducted & packaged, VRF and chillers are the various product types. Along with residential sector, commercial segment is also catching up with the increase in demand of commercial plots, offices, stores, factories and business apartments.

Benzyl acetate

Benzyl acetate is found in alcoholic beverages. Benzyl acetate occurs in jasmine, apple, cherry, guava fruit and peel, wine grape, white wine, tea, plum, cooked rice, Bourbon vanilla, naranjila fruit (Solanum quitoense), Chinese cabbage and quince. Benzyl acetate is a flavouring agent Benzyl acetate is an organic compound with the molecular formula C9H10O2. It is the ester formed by condensation of benzyl alcohol and acetic acid. It is one of many compounds that is attractive to males of various species of orchid bees, who apparently gather the chemical to synthesize pheromones.

Benzyl alcohol is an aromatic alcohol with the formula C6H5CH2OH. The benzyl group is often abbreviated "Bn" (not to be confused with "Bz" which is used for benzoyl), thus benzyl alcohol is denoted as BnOH. Benzyl alcohol is a colorless liquid with a mild pleasant aromatic odor. It is a useful solvent due to its polarity, low toxicity, and low vapor pressure. Benzyl alcohol is an aromatic alcohol with the formula C6H5CH2OH. The benzyl group is often abbreviated "Bn" (not to be confused with "Bz" which is used for benzoyl), thus benzyl alcohol is denoted as BnOH. Benzyl alcohol is a colorless liquid with a mild pleasant aromatic odor. It is a useful solvent due to its polarity, low toxicity, and low vapor pressure. Benzyl alcohol has moderate solubility in water (4 g/100 mL) and is miscible in alcohols and diethyl ether. The anion produced by deprotonation of the alcohol group is known as benzylate or benzyloxide.

As a medication it is used to treat scabies and lice. For scabies either permethrin or malathion is typically preferred. It is applied to the skin as a lotion. Typically two to three applications are needed. Benzyl benzoate is a benzyl compound that can be synthesized by reacting benzyl chloride with sodium benzoate in the presence of tetrabutylaramonium iodide. It is reported to be the key constituent in the essential oils isolated from leaves and stem bark of Cinnamomum zeylanicum. Its toxicity has been assessed. The mechanism of thermal decomposition of benzyl benzoate has been investigated.

The growing demand for benzyl acetate in the personal care industry across different regions of the world is anticipated to drive the global benzyl acetate market in the next few years. The major players operating in the benzyl acetate market are primarily focusing on the emergent countries for tapping their immense market potential. The key companies operating in the benzyl acetate market are installing gigantic production facilities in these developing countries to fulfill the swiftly rising local demand for benzyl acetate. Therefore, the global benzyl acetate market is expected to witness a noteworthy growth in the next years.

Benzyl alcohol demand is projected to gain impulse with increasing demand from end use industries. Growing demand for paints and coating with rapid infrastructural developments in emerging economies such as India, China and Brazil is projected to drive the demand for benzyls alcohol over the forecast period. Further, growth in disposable income of middle class impelling the demand for automobiles which is subsequently fueling the demand for paints and coatings which in turn is driving the demand for benzyl alcohol. Paints and coating application accounts for major share of the global benzyl benzoate market. Thus, growing paint and coating industry is anticipated to drive the demand for benzyl alcohol over the forecast period. Besides this, increasing use of benzyl alcohol as an anti-parasite medication used to treat head lice. It is also used as a common preservative in many injectable drugs.

Benzyl Benzoate covers the existing situation and the progress predictions of the Benzyl Benzoate Industry for 2018-2023. Benzyl benzoate is a kind of ester compound by condensation of benzoate and benzyl alcohol, there are a lot of important applications. It can mainly be used in textile auxiliaries, flavors and Fragrance, pharmaceuticals and plasticizer.

 

 

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