An effective business to start at your home.
As humans started unfolding their intellect, they started manifesting their knowledge and ideas to make their life easy. They began farming and taming animals made new kinds of tools that made their life conducive. Gradually, they reduced their hunting activity and were transforming into producers. They could survive on their own without depending on other living beings. This is just an instance of how far we human, as a race, have developed. We started using our ideas and intellect in acquiring new skills which helped us earn money.
What is business? It is a commercial activity of an individual. It is a source of employment. Business has developed so much in the years down the line. Business came into existence because of the rise of demands. During the ancient civilizations, the concept of currency was absent. People used to trade in the barter system. A barter system was a give and take system long before money was introduced which involved exchanging of goods and services. As humans evolved, they started using their skills to earn money. They usually started out at home rather than big firms when there was no industrialization. Therefore businessmen during those days indulged themselves in providing goods or services to those who demand it. Since then, it has emerged and progressed through various stages, from local business to global business.
Thus, the business began with the mere exchanging of belongings. The business was not performed on a large scale. It was practiced in local homestays which expanded to be later known as Cottage Industry.
The investment in business defines its worth. A large scale company has a lot of investment. Paying for the raw materials, labor and all the other production cost need a lot of investment. The cottage industry, on the other hand, does not require a lot of financing. It is a small – scale manufacturing business whose proceedings usually take place at home consisting of a few people, generally members of the family.
The cottage industry is loosely organized and sloppy because it does not require a lot of money to start up. Yet, it plays an important role in increasing the economy of a country. It is beneficial for people who want to open up a business without pooling in a lot of money. For this reason, it is flourishing very rapidly.
The first noted cottage industries began in England and the United States where the meager production of garments, textiles as well as shoemaking began. Many large scale businesses that are functioning now were once a cottage industry before the industrial revolution. Cottage industries are the begetter of employment in rural areas of underdeveloped or developing nations. It is popular and still widely practiced in Asia and South America. A large population of these regions engages themselves in cottage industries. For instance, people in rural places of India are hooked in the manufacturing of goods and it constitutes a lot of major sources of economy in India. Cottage industries form a part of the cultural heritage in India. In ancient India and also during modern times, local artisans and craftsmen get employment.
How can you start your own business?
Starting a cottage industry can accomplish your dream of becoming an industrialist and it does not require a lot of investment. It might seem easy that you don’t need much capital and workforce as much as a big industry. Yet it requires a lot of planning. Opening a cottage industry sets aside a lot of expenditure but it needs a plausible decision, location to start your business, finance and the product that you want to manufacture. Registering a company is not at all needed for operating a small scale business. However, it is beneficial as registration might fetch help from the government. The government usually finance small scale business if it proves to be promising. Financial help may increase production hence increasing the economy.
The next and the most important thing before you begin your own business is the selection of the product that you want to manufacture. You have to be very cautious while selecting a product. You have to keep in mind the needs and demands of the people around you. Otherwise, if it doesn’t match with the needs then all the efforts will go in vain. Other various attributes like the location of your business, installation of machines or tools, workforce, marketing of the goods and management of the entire process have to be kept in mind in order to upgrade your venture in full swing.
Thus, if it is carried out properly and indiscipline, it wouldn’t be long enough when you would be relocated from small scale business to large scale business. It gives you not only a distinct status but also gives you an opportunity to showcase your inventiveness and ability.