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5 Best Small Business Ideas in Odisha

Odisha has been a very agricultural-based economy for centuries. However, with a huge coastline and ancient history attached to the state, other business opportunities flourish apart from agricultural-related businesses. In recent years, the government of Odisha has been putting great efforts into revamping their coastline and ensuring the places are tourist-friendly to attract people.

Because of the increase in tourism in the state, and the state being recognised for other activities, small businesses have started flouring in Odisha. While tourism may be the main reason for this development, the secondary businesses that complement tourism, such as restaurants, hotels, transportation, are seeing great success.

To provide impetus to the businesses in Odisha, the government has also introduced a few reforms and concessions to boost business opportunities in this state.

Top 5 Small Business Ideas that one can adopt in Odisha

This list will cover the small and medium enterprise business ideas that do not need huge capital, and the risks related to these businesses are also low. These are small scale business ideas that can grow over time with success.

  1. Candle Making Business

There is a high demand for candles in Odisha. Also, the raw materials needed to make candles are abundant in the local market, making it easier to start this business. The demand for candles in this state is very high, from traditional white long candles to candles for religious purposes and for decoration.

You don’t need a workshop or office to kickstart the business. You can start the business within the four corners of your house and get in touch with retailers. You can also venture into candles for gifting purposes and scented candles. Once you have a solid customer base, you can expand your business, hire employees and move into a workshop.

The investment required for candle making is low as you just require the raw materials for wax, wick and simple packaging solutions. No investment is needed for special machinery or equipment and you do not need prior knowledge to start this business.

  1. Handicraft and Pottery Business 

Odisha is known for its ancient history, craftsmanship and handicraft business. It also has a huge tribal population that has kept its roots and still practices its way of life and art. The demand for these handicrafts is national and international. Getting into the handicraft business is a nice start for someone looking to start a new venture.

The state is rich in pottery, handicraft, terracotta materials and horn works. You can contact the local artisans who make this and set up an online store for the initial days. Since conducting business online is now an easy task, you do not need to invest in a physical retail store. Also, having an online presence means your business can reach different parts of India and the world, and you can have customers from everywhere.

The initial investment in this business may be a little higher if you need to buy the goods from the artisans. Or you can strike a deal with the artist, put up their stuff online, and once they sell, you can make a small commission from it. Again, this requires none to little investment.

  1. Eco-friendly Jute Bag Business 

Since Odisha has an excellent agricultural presence, there is waste from the crops and other services that can be used to make jute bags. Since the jute material is scrap for the farmers, you can get the raw material for as little price as possible. Since sustainable practices are being encouraged throughout the country, having jute bags as an eco-friendly solution will kick-off.

You can get in touch with local supermarkets and retail stores to hold your jute bags at checkout. In addition, to stand out from the standard jute bags, you can add some designs on it, paint on it with Odisha handicraft arts to stand apart. Since bags are required for an everyday purpose, their demand will be high, and you will definitely see success.

The investment needed for this business is on the low side, and as the business grows, you can expand into other verticals of packaging too.

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  1. Tourism and Tour Guide Business 

With historic places, a great coastline, scuba diving options and visits to famous temples, the tourism industry in Odisha is picking up now more than ever. Since travel restrictions have loosened up and people want to travel more, you can jump on this and create exciting tour packages. A state like Odisha has great travel plans to offer right from old, middle and young people. So you can cater to all audiences.

You need to strike deals with good hotels, car rentals and food places, and once that is in place, you can offer tour packages with discounts. While the tourism sector is great, the state does not have clear guidelines and professional tourism activities. However, with a little boost, you can make this process easier for travellers and ensure your business is a one-stop shop for tourism-related activities.

Since you are not providing a product, no initial investment is required. You just need good communication skills, good networking with hoteliers and the likes, and an online presence to garner the audience. Once your business expands, you can also get in touch with schools, colleges and big tour companies for corporate packages.

  1. Solar Energy Business 

This is a little business with a high initial investment required, but we did not miss out on the opportunity. Odisha is one of the hottest states throughout the year. It receives plenty of sunlight that can be converted to solar energy. The government has also given a boost and concession to businesses in the renewable energy sector.

Odisha can be a great place to start your solar energy business with an investment amount or partnership with someone. You can provide electricity at lower rates and affordable rates, and with the business’s success, you can also expand over time.

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Odisha is a thriving and upcoming state, and starting a business right now would be very beneficial for you as the economies are opening up. Apart from the top five businesses mentioned above, some other industries that are good to start a business in are:

  • Hotels, Restaurants and Food Business
  • Export of Fruit, Vegetables and Agricultural produce
  • Textile Business

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