With Digital India taking shape, small businesses are taking the online route to, selling their products and services. The e-commerce platform offers many uses to the small time retail businesses. The plain advantage of going online is the widened reach of the business. Selling on a global platform is easier when a business goes online. The finance required for an online business is optimal when compared to budget involved in opening a non-local branch in a different city or state. The internet market is an untapped source, in India, which can be harnessed to reach the national and global audience within seconds.
India is one of the fastest-growing economies in the world. With a large population, increasing internet users and growing demand for goods and services it is the best time to start a local business in India. Whether you are based in a metro city or a small town, local businesses have great opportunities to help you grow and succeed.
Why Is This the Right Time?
Let’s have a look at some of the main reasons why this is the perfect time to launch and grow a local business in India:
Rising Consumer Demand
In India, the people like to spend their money on food, clothes, electronics, home services etc. Also, so many people are looking for quality and personalised service which local businesses can offer better than big brands.
Digital Revolution
Nowadays, every single person uses smartphones and the internet in India. It has become possible because of the affordable internet and mobile phones which means people can easily search for the local services online. Ultimately, it helps the local businesses to find more customers and sell their services and products through social media, WhatsApp, Google Business etc.
Preference for Local Products
After the COVID-19 pandemic and growing awareness so many Indian consumers are showing interest in buying the local products. They prefer products that are made in India to support the nation’s economy. This is a good time to build a brand in your local area.
A local business in a true sense:
Establishing a local business in India is an encouraging prospect in the current scenario because the cost involved in tapping the internet user market is very less when compared to the conventional methods.
Selling products or services online offers good ROI, once the cost of establishing a website is covered. The primary aspect to focus on is getting user friendly website designed by a reputed website designing company.
Once a website has been designed, a business can build its brand name and recognition via effective online marketing strategies, like SEO, SMO, Email Marketing, Paid Campaign and many more. To tap the chunk of mobile internet users, creating a mobile app is the best method to begin.
Mobile apps attract users greatly because the retail discounts and offers are available instantly on the go and you can push offers via mobile application any time. Also using mobile application, company can gather customer’s statics for better customer experience.
Steps to Start a Local Business in India
Well, starting a local business is exciting but one must follow the right steps to start it. So, here are some simple steps which you can follow to kick-start your business in India:
Choose the Right Business Idea
First of all, choose a business idea that is right for you not what is trending in the market. Also, it should align with your skills, interests and budget as well.
Do Market Research
Then, do some market research and observe what customers are looking for and what your competitors are offering to them. If you know these things then it can help you plan better.
Arrange Funding
Now, if you have enough savings then you can use those savings to start your business. If not, then you can apply for a loan to arrange funding for your business.
Set Up Your Business Place
It’s time to set up a place for your local business and it can be a small shop or a co-working space. However, you must keep it clean, customer-friendly and professional in all ways.
Register Your Business
Now, you must make your business legal by registering it on the Udyam portal or as a sole proprietorship, partnership or private limited company.
Go Online
Once you have successfully registered your business on the mentioned portal then create a Google Business profile. You can also share your services on social media by using free tools like Canva. Accept digital payments like UPI, Paytm, and Google Pay for providing the services.
Offer Good Service
Most importantly, when you offer the products and services to your customers then make sure you offer the best quality products, delivery and customer care. Remember that happy customers bring more customers as they can recommend your services to other people if they liked them in the first place.
Internet trend shows a favourable proposition for the online businesses:
The Internet Trends Report for the year 2016 by the US market analyst, Meeker, observed a global decline in the internet usage but noted an acceleration in the Indian Internet user rate. With 277 million users, India beat the USA to occupy the second place in the Global Internet market. A 51.90% year over year growth in Indian internet users, was observed in the year 2014 – 15.
This is an encouraging situation for a business with an aim to go online. Such a business will be treated as a local business anywhere in India. Every business targeting the nationwide customer base should tap into the internet resources for establishing an online business.
In India, an average smartphone costs around $158, which is observed to be one among the lowest costs, when compared to the global market. The cheap prices for smartphones and data charges encourage the internet usage on smartphones. With the trends for mobile internet users for India indicating an encouraging context, creative businesses into innovative advertising will be able to clinch big opportunities. These opportunities are functional in creating new jobs, increasing business efficiency and lowering business costs. All this is possible by harnessing the bulk of internet users who utilise mobile internet on the go.
Internet advertising to create brand name and recognition:
The crucial method to establish an online business is to, exploit the internet advertising methods. The internet advertising statistics show an increasing trend for the USA.
The report notes that Google and Facebook have observed a steady increase in advertising revenue each year. Google has shown the world that it rules the niche for effective online advertising. This generation of the retail chain has observed a rapid increase in branded commerce through the internet medium. Brand recognition is achieved via effective online advertising.
With technology evolution paving the way for the internet to become an important medium of marketing, the online marketing methods help evolve a retail business. According to the report, the Internet is the primary channel for hoisting retail distribution.
Your time to make a mark in the new era of online retailing and business has come. A small initiative to surge forward and make your presence felt in the array of online businesses will pay good returns. This returns can be accumulated and increased over time with the steady and careful harnessing of the internet users. The Internet is the treasure of user data which can be utilised to study buying trends and hence advertise and sell accordingly.
Final Thoughts
Starting a local business in India is a wise move because of the growth opportunities that come with it. It is not an overnight process because it will definitely take time, patience, learning and consistency. However, if you stay on the right track and operate your local business well then you can build a strong and profitable business in less time.
If you are looking for help with digital marketing, business growth strategies or website development then you can consider working with a trusted company known as iConnect Solution. We help small local businesses to grow online in smart and affordable ways. We provide full support to help you reach more customers and grow your business fast.
Let iConnect Solution help you build your digital identity, boost visibility and attract more customers with ease. Contact us today!