Table of content:
- Introduction
- Why quit your corporate job and start your own business?
- 4 Bizarre start-ups
- International trade
- Types of International Export Businesses with High Profit
Introduction
A person who initiates a business is an entrepreneur. Entrepreneur comes up with an idea for a business. He develops an idea for the business. He invests capital in his business and works day and night to make his business a success. There are many new businesses emerging every day now. People have realized the profits that a business can bring along with a sense of job security.
Entrepreneurs tend to be creative with their ideas. Unique and creative ideas which might surprise people can make a business successful. For example, an entrepreneur had recently started a beauty brand. Now, beauty brands are very common. There are some very established beauty brands in the market like Maybelline, MAC etc. The entrepreneur needed to come up with a unique idea to compete in the market. So, she came up with the idea of cute packaging. The makeup line was towards girls and women.
The packaging of the makeup was in pink and gold colors. It also had cute character faces on the bottle. Needless to say the business was a hit.
Most of the success was due to the free Social Media Marketing that they got due to the packaging. Influencers used their products and posted them on apps like Instagram, Youtube which influenced other people to buy their products. This ultimately led to the brand’s success. This success also inspired the brand to start a new range of products dedicated to men. Hence, they were able to increase their customer range
Why quit your corporate job and start your own business?
You want to prove yourself
You feel unmotivated and feel dissatisfied in your current job. It feels like you have an idea which can withstand the harsh winds of the market. You want to prove to yourself that you have what it takes to start and grow a successful business.
It’s your passion
It is your dream to own a business. When you are passionate about the work you are doing it is bound to give you better results. Better results then in turn get you closer to success. Also, everyday you would not dread to work because it will be something you like to do.
You want to achieve financial freedom
In the Initial stages, there may be a time when you are required to invest in your business. The investment doesn’t need to be huge as there are ways to start a business with minimum investment. Once your business picks up, you will get profits and soon be able to achieve the financial freedom you craved for.
You are creative
In the corporate world, there aren’t enough chances for creative and use out-of-the-box thinking. But as an entrepreneur, every day offers you a chance to be creative. You need to be creative in order to even come up with a unique business idea.
You want to be your own boss
No more working for someone else. If you start your own business, you will be the boss of your company. Your employees will be reporting to you, not the other way around. Your company will run on ideas that you have formulated along with your beliefs of how your company should operate.
And if you need more help in any stage of your business you can log on to P.L Global Impex Pte Ltd and get the exact solution for your business.
Not sure whether your business idea has the potential to be successful? Or are you hesitating to start your business?
Let us tell you about four Bizarre start-ups that will make you believe in your business’s potential.
In India
- Bakeys – No, it’s not a bakery. It is actually a place which sells edible cutlery. So basically the business uses millet, rice, and wheat to make spoons, forks etc. The idea is that this will replace the need for plastic and wood cutlery. This is a step towards saving the planet, Bakey style.
- Mokshshil – This startup idea was on The Vault show. This startup lets people arrange their own funerals! Mortifying? A little bit, yes. But the potential is there. Mokshshil lets you select the kind of funeral you would like based on your religion and belief. Another service they offer is to your loved ones grieve by extending help with planning the last rites.
Both these businesses mentioned above are based in India. Now, Let’s see two bizarre foreign-based businesses.
Foreign-based
- Parihug – Now this one can just make you go “aww”. Parihug tries to bridge the distance between you and your loved one. How? Parihug makes teddy bears with digital sensors in them. So, your teddy bear and your loved one’s teddy bear are digitally connected. They also have sensors in them. This enables two people to hug virtually no matter what the distance is.
- Potato parcel – Strange and funky gifts are always in trend. Everyone gives clothes, accessories or purses as gifts. But what if you could send a very unique and personalized kind of gift which will bring a guaranteed laugh or smile to the person’s face? Potato parcel sends a single potato with personalized inscriptions. This idea was a huge hit in the US on Shark Tank.
So don’t think too much and start your startup journey. Of Course, there can be times when you need help. And what better way than to receive help from P.L Global Impex Pte Ltd. We provide professional services to our customers and help them take their businesses to new heights.
International Export Business
International Export Business is the trade which happens between two countries. Taking the example of the USA, the major import that the USA has is Machinery. The machinery is supplied mainly by China, Mexico and Japan. This is an example of countries engaging in International trade.
To find import and export services locally you can google “importer and exporter near me” or “International export business”
Import is bringing in products into your country from foreign countries. Exporting is sending products or services to foreign countries. Export and import businesses can be very profitable. For more help, you can log on to our page P.L Global Impex Pte Ltd to know more about how to start an export-import business. Alternatively, you can search for importers and exporters near me to find out more about their business and how you can start one.
There are some International export businesses which are more profitable than the rest. Today, we are going to tell you about:
Types of International Export Business with High Profit
Engineering goods
Engineering goods include industrial equipment and machinery, products which are made from iron, steel and other metals, and automobiles along with their parts. The engineering exports of India have crossed over the 9 billion dollar mark in a single month. The demand for engineering goods is from traditional markets. These markets include UAE, USA and China which caused a surge in the demand. In India, engineering goods were the top exports in the year 20-21 earning around 75.97 billion dollars! However, in the year engineering goods had earned 81.02 billion dollars, slightly higher than the year 20-21. For more information on this, you can search importers and exporters near me on google who deal in engineering goods.
Petroleum products
India is one of the top five largest exporters of petroleum products. These products include gasoline, petrol, LPG (Liquified Petroleum Gas), lubricants and diesel. India usually caters to countries like the USA, Singapore, China, UAE and Netherlands. India is also the second largest refiner after China in Asia. These exports were affected by Covid. It had dropped up to 37.3 per cent year on year. However, this year it has made a stunning comeback. To find out about any exporter importer of petroleum products near you, you can search for an importer and exporter near me. Or if you want to find an export-import firm of petroleum products you can search for importer and exporter near me.
Precious Stones, Jewelry and Gems
Precious stones, Jewelry and Gems include rough or well-cut diamonds, gold jewellery, pearls, coloured gemstones and synthetic stones. In the world, India ranks fifth as the biggest exporter of gems and jewellery. India has a 5.8 per cent share in Global exports. Exports of cut and polished diamonds are first. Gold jewellery follows this export. The top importers are UAE, Hong Kong, the US, Belgium and Israel. Of India’s total merchandise exports, 14 per cent is Gems and Jewelry. There was a disappointing 20-21 when the exports had fallen up to 27.5 per cent year on year. But it made a great revival in 21-22. India exported 18.98 billion dollar worth of jewellery and gems in Apr-Sept 2021.
Inorganic and Organic Chemicals
Chemicals which contain carbon in their molecular structure are known as organic chemicals. There are various uses for these chemicals. Some of these have medical applications or pharmaceuticals while some are used in the production of plastic. Organic chemicals which are exported by India are acetone, phenol, acetic acid, citric acid and formaldehyde. Inorganic chemicals are those chemicals which don’t contain carbon or any of its derivatives as their key element. The uses of inorganic chemicals are in automotive, paint, as an ingredient in cleaning solutions and paper industries. The inorganic chemicals exported by India are Liquid chlorine, soda ash, red phosphorus, caustic soda and calcium carbide. The main customers for Indian chemicals are China, the USA, Brazil, UAE and Germany. If you are interested in this business you can search more about this business and find importers and exporters near me.
Pharmaceuticals and Drugs
India is the third largest pharmaceutical market due to its large raw material base and its skilled workforce. India accounts for 20% of the Global generic drugs exports. It supplies 40% of generic formulations. The US uses these formulations. The largest vaccine production capacity is also in the US. India exports that account for 8% of its total merchandise exports have withstood numerous economic turmoils including Corona. This export has shown a growth of 18% in the year 20-21 and will continue to grow this year too. You can find this by searching” International export business” on google along with “importers and exporters near me”.
Cotton Yarn or Fabrics or Handloom Products
China is the largest producer of in the world of cotton. It is closely followed by India, making it the second-largest producer of cotton in the world. India grows 23% of the world’s total cotton and has the biggest area dedicated to cotton cultivation. Cotton yarn and fabrics account for up to 40% of the total Indian textiles as of June 2021. Bedsheets, various home linens and towels make up the most exported items made of Indian cotton. The top three importers of Indian cotton are China, Vietnam and Bangladesh. India’s cotton exports increased up to 127 per cent and around 106% in value despite the circumstances post-pandemic. The main advantage of Indian cotton and cotton products is the price advantage. The price advantage is over those products that are produced in Australia, the US, and Brazil. This is why the cotton export potential of India is higher.
RMG or Ready-Made Garments
India’s RMG industry comprises clothes made of natural materials such as cotton, silk, wool, synthetic fibers and man made fibers. In India, ready made apparel is made using predominant raw material cotton. Fifty percent of India’s textiles and apparel industry is made up of the ready made garment sector. India is the fifth largest exporter of Readymade garments in the world. India used to rank second until a decade ago. The largest importers of Indian RMG by value are Germany, UK, USA, UAE and France. However, in recent years the RMG exports have been falling down due to the tough competition by Vietnam and Bangladesh. This is particularly because they have preferential tariffs in the Global market and lower production costs. For any more export and import business related queries you can log on to our website P.L Global Impex Pte. Ltd and find blogs and other helpful information along with professional services so that you can experience and have a wonderful and successful business.
Got any queries?
Feel free to connect with us!
