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The following are 5 popular innovative start-up ideas that you can start in India in 2023:

1. Taxi Services

The taxi cab business is making huge profits given this exponentially growing demand. A taxi, also known as a cab or a taxicab, is a type of vehicle for hire with a driver, used by a single passenger or small group of passengers, often for a non-shared ride. A taxicab conveys passengers between locations of their choice.

2. Car Wash Services

A car wash auto wash is a facility used to clean the exterior and, in some cases, the interior of motor vehicles. To provide a high quality, full-service car wash which will include complete car detailing, restaurant, and gift shop so that customers will perceive great value and give them the opportunity to have an enjoyable meal while their car is being washed or detailed.

3. Furniture Sales

Furniture and appliance sales means an establishment for the sale of furniture and household appliances. This industry includes all the companies and activities involved in the design, manufacture, distribution, and sale of functional and decorative objects of household equipment.

4. Animation Studio

An animator produces multiple images called frames, which when sequenced together create an illusion of movement. An animation studio is a company producing animated media. The broadest such companies conceive of products to produce, own the physical equipment for production, employ operators for that equipment, and hold a major stake in the sales or rentals of the media produced.

5. Tailoring Service

A type of business with a number of experienced, skilled and trained employees, equipment, machinery, space, property, management and technology, created to provide tailor services. A tailoring business specializes in personally fitting garments to each customer’s needs. Tailors also help customers make style decisions and offer alterations to existing garments.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

The following are some popular small business ideas that you can start in 2023

1. Education book Store and Stationery shop

Educational Book shop is a place of business where Educational books are the main item offered for sale. It is commonly used to refer to paper with matching logos and designs. This includes: paper, envelopes, pens, pencils, and notepads, note cards, etc. A Stationery store sell these products.

2. Catering Services

Caterers provide services like preparing, delivering, and presenting food for any event or party. Catering is the activity of providing food and drink for a large number of people, for example at weddings and parties.

3. Photographer

A photographer is someone who takes photographs as a job. It’s also a business that is easy to start small and build up. So, stop messing around with the photo apps on your smartphone. If you want to learn how to start a photography business on the side and grow it into a full-time income, it’s time for you to apply your skills and get maximum out of it.

4. Advertising Agency

An advertising agency is a company whose business is to create advertisements for other companies or organizations. Advertising agencies are losing their once-powerful grip on brand marketing. Advertising agencies create, plan and handle the advertising needs of a business and can be responsible for the following tasks: Handling negotiations. Creating tailored marketing campaigns.

5. Bakery

A bakery can be established as a retail business from a storefront location selling baked goods to consumers, or a bakery can be established as a wholesale business selling baked goods to food retailers and institutions. This is based on the fact that people have to eat and a large number of persons enjoy and are willing to pay for fresh products.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

The following are some popular and innovative business ideas that you can start in India in 2023:

1. Cooking Class

Cooking can aid children in acceptance of responsibility. A few of the basic skills you can learn in the kitchen are knife skills, basic cooking methods, such as searing and braising, menu development, and meal preparation. Teaching cooking to youth is an opportunity to teach nutrition education such as planning meals and making smarter food choices.

2. Aquarium Business

An aquarium business provides two services to private aquarium owners. Aquarium retail stores stock many varieties of home aquariums and supplies, along with a varied stock of freshwater and saltwater fish. Aquarium staff provides system start-up and maintenance advice.

3. Toy Shop

A toy store or toy shop is a retail business specializing in selling toys. A shop that sells objects that children play with, for example, dolls or model cars. This line of business is constantly evolving. According to a study, the total revenue of the global toy market from the year 2007 to 2019 has been booming.

4. Electrical Services

Electrician businesses focus primarily on servicing electrical systems in homes and businesses. Because it is a trade business, it is highly specialized. An electrical contractor is a business person or firm that performs specialized construction work related to electrical system design, installation, and maintenance.

5. Beauty Treatment and Spa

A beauty spa is a business that offers treatments such as manicures, pedicures, and facials. Some beauty spas are also hair salons. Body care such as massages and hair removal is a part of many beauty spas. The main business goal is pampering clients while offering a selection of body and skin care services.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

The following are some most popular innovative business ideas in India in 2023:

1. Rainwater harvesting

It is the collection and storage of rain, rather than allowing it to run off. Rainwater is collected from a roof-like surface and redirected to a tank, cistern, deep pit or reservoir with percolation so that it seeps down and restores the groundwater. It is one of the good and innovative business ideas.

2. Green Consultancy

A green consultant business offers consulting services related to sustainability, conservation, and similar issues. It is one of the unique business ideas in India.

3. Fashion Boutique

A boutique is a small financial firm that provides specialized services for a particular segment of the market. It is especially one that sells fashionable clothes and accessories or a special selection of other merchandise.

4. Pet Care Centre

Pet care centres are mushrooming in all the major cities. They offer boarding facilities for your pets while keeping them healthy and happy. Pet care is the care and medical treatment of pets which means any job that has to do with taking care of pets would be considered a pet care profession.

5. Interior Decoration

It is the planning of the decoration and furnishings of the interior of houses, shops, etc. a person whose profession is the painting and wallpapering of houses. Most interior decorators and their firms have a gross profit margin of 35-40%.

6. Gardening Service

The services offered differ from service to service but may include landscaping, garden maintenance, pool maintenance and cleaning, refuse management, water feature and irrigation installation and maintenance, seasonal planting, composting, and fertilisation.

7. Appliance repair service

Domestic appliance service technicians install, maintain, service and repair a wide range of domestic appliances. These include ‘white goods’ such as washing machines, clothes dryers, dishwashers, cookers, refrigerators and microwaves. They may also deal with ‘brown goods’ such as televisions and hi-fi equipment.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

1. Party planning or event management

Good event management requires business management and leadership skills, as well as a lot of imagination. Parties, ceremonies, honours and felicitations, exhibits, seminars, radio, TV or reality shows, festivals, and other events could all be part of your job as an Event Manager.

2. Medical tour service

Health tourism is a wider term for travel that focuses on medical treatments and the use of healthcare services. It covers a wide field of health-oriented tourism ranging from preventive and health-conductive treatment to rehabilitational and curative forms of travel. Wellness tourism is a related field.

3. Dietary consultancy services

Dietary counselling is a form of assessment that looks at your various health needs and determines what type of diet and lifestyle changes can help you achieve your health goals.

4. Used car dealership

A car dealership, or vehicle local distribution, is a business that sells new or used cars at the retail level, based on a dealership contract with an automaker or its sales subsidiary. It may also provide maintenance services for cars, and employ automotive technicians to stock and sell spare automobile parts and process warranty claims.

5. Driving school

A driving school is a business that employs instructors who teach people how to drive a vehicle. Generally, driving tuition or driving lessons is a formal class or program that prepares a new driver to obtain a learner’s permit or driver’s license.

6. Translation Services

Language translation services provide you the ability to communicate to a global audience with the assistance of a professional linguist. They come in a variety of forms such as certified translation, spoken interpretation, localization, and globalization.

7. Sport Coaching

Sport plays an incredibly important role in modern life. A sports coach is a person coaching in sports and is involved in the direction, instruction and training of a sports team or sports person.

8. Dance Class

A dance studio is a space in which dancers learn or rehearse. The term is typically used to describe a space that has either been built or equipped for the purpose.

9. Baby keeping or Daycare Centre

Daycare centres are places where parents can drop off their children so that they can stay in a safer environment in the absence of parents.

10. Mobile Foodservice

Mobile catering is the business of selling prepared food from some sort of vehicle. Also, it is a feature of urban culture in many countries. Mobile catering can be performed using food trucks, trailers, carts and food stands.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. Also, all public and private sector banks working in India accept our project report. Click to create your report.

Financial statements are written records that convey the business activities and the financial performance of a company. Government agencies, accountants, firms, etc., often audit these to ensure accuracy and for tax, financing, or investing purposes.

Financial statements include:

1. Balance sheet
2. Income statement
3. Cash flow statement

Balance sheet

It shows the company’s assets, liabilities, and shareholder equity. One uses the balance sheet to evaluate a business, and it is one of the three core financial statements. In financial accounting, a balance sheet is a summary of the financial balances of an individual or organization.

Income statement

An income statement or profit and loss account is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It shows you the company’s income and expenditures. The income statement also shows whether a company is making a profit or loss for a given period. Also, it indicates how the revenues are transformed into the net income or net profit.

Cash flow statement

It shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.  It also includes all cash outflows that pay for business activities and investments during a given period.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. Also, all public and private sector banks working in India accept our project report. Click to create your report.

Goods and Services Tax or GST is an indirect tax used in India on the supply of goods and services. It is a destination-based tax and comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.

Who should Register for GST?

• Individuals registered under the Excise, VAT, and Service Tax etc.
• Businesses with turnover above the threshold limit of INR. 40 Lakhs.
• Every e-commerce aggregator.
• A resident taxable person or Non-Resident taxable person.
• Agents of a supplier and input service distributor.

Documents required for GST Registration

The main documents required for GST Registration are:

1. PAN card.
2. Proof of business registration identity.
3. Photograph.
4. Address proof of persons and the business address proof.
5. Bank account statements.

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. Our reports are accepted by all public and private sector banks working in India. Click to create your report.

NBFC DSA denotes Non-Banking Financial Companies Direct Selling Agents. NBFC DSA Registration refers to the registration of a person working as a referral agent for NBFCs and banks. In rural areas, they are called Business Correspondents. The Direct Selling Agent helps find potential customers for banks or NBFCs they represent. Leads generated forwards to the concerned bank or NBFCs. In this article, we shall completely understand NBFC DSA Registration.

Eligibility criteria to obtain NBFC DSA Registration

One should follow the following eligibility criteria to obtain NBFC DSA Registration in India:

• The person should be an Indian Citizen
• He should be above 18 years of age
• Should be willing to work in public dealing
• Knowledge about financial products
• Must have good communication and coordination skills

What are the benefits of becoming an NBFC Direct Selling Agent?

The following are the benefits of becoming NBFC DSA:

• It ensures scope for additional income, but the amount may vary from lead to lead
• Allows establishing new business with minimum risk and cost
• They provide flexible working hours
• There is no demand for higher qualifications
• Respective banks/NBFCs provide skill training

Benefits of NBFC DSA to customers

It offers various benefits to customers. The benefits include:

• The direct selling agents assist with the issues and queries of customers
• They allow customers to choose the appropriate loan as per their budget
• Excellent post-sales assistance is provided by Natural Selling Agents to customers.

Benefits of DSA to financial institutions

DSAs are beneficial to financial institutions in the following ways:

• Ensure ease in the local approach
• Identify and shortlist potential customers
• Improve awareness regarding the financial products provided by institutions to the local people
• Assist people who need loans efficiently
• Perform initial verification and register the needs of clients

Duties of NBFC DSA

Their duties are as follows:

• Collect the fill the loan application from the clients along with the documents required
• Perform a preliminary check for both the application and documents collected
• Ensure that the documents collected are genuine and valid
• Upload or submit the application as well as the documents
• Provide their DSA Code that allows tracking the application

Documents required for NBFC DSA Registration

To obtain NBFC DSA Registration, the following documents are required:

• The Aadhaar Card of the applicant
• The PAN card of the applicant
• Driving License
• Details of bank account like IFSC and account number

Procedure for NBFC DSA Registration in India

Usually, financial institutions such as Banks and Non-Banking Financial Companies use their method to register as Direct Selling Agents in India.

Steps Explained

Submission of application

Firstly you will be required to visit the respective bank, NBFC, or another financial platform to submit the application filled by you. Once the application has been submitted, proceed with payment as prescribed. On the price submission, the concerned bank, the NBFC, or the lending institution will contact you further.

Provide documents for verification

Provide the documents requested by the respective institution. The institution shall then examine and verify the documents submitted against the requirements set by the institution.

Assessment of credit score and approval

After that, the financial institution will conduct due diligence. A team of professionals from such an institution will perform the process of due diligence and will determine the CIBIL score and the applicant’s credit history. If the institution approves the form and submitted documents, the bank shall dispatch a legally attested agreement of NBFC DSA Registration to the applicant.

The final process of the loan

The applicants should fill out the details requested in the manner the agreement prescribes. After agreeing to the terms and conditions, the applicant should sign the deal. Then, submit the signed contract to respective institutions. On obtaining the agreement, the institution shall give the DSA code, which would be used as a reference number to monitor the status of the loan application. Once the DSA code is secured, the task of uploading loan documents can be performed by the agent.

A direct selling agent is pivotal in representing lending institutions for potential clients or credit seekers. Their fundamental objective is to promote and sell the financial products of the lending institution. Therefore, every lead they generate allows them to gain some income (some % of the actual loan amount). The services extended by the Direct Selling Agents are taxable under the Reverse Charge Mechanism.

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About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. Our reports are accepted by all public and private sector banks working in India. Click to create your report.