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Government Trading Business Closing: What New Venture Should I Start with 10 Lakhs?

Chandu Nair | Answer |Ask -Follow

VC, Angel Investing, Entrepreneurship Expert - Answered on Jul 10, 2024

Chandu Nair advises entrepreneurs and enterprises about creating and building their business.
He has direct experience in angel, venture capital and strategic investor funding. Over the last three decades, he has made a name for himself in industry, consultancy, media and information services.
Nair is on the advisory boards of the Chennai-based private equity firm Fulcrum and the social impact fund, Menterra. He's an independent director on the board of India's first retail building products company, Shankara Building Products Limited.
He was the co-founder of Scope e-Knowledge Center, a pioneering knowledge process outsourcing company, as well as the co-founder of a business-to-business e-commerce venture, both of which he successfully exited.... more

Asked by Anonymous - May 08, 2024Hindi

Career

My old trrading business in a govt sector is now about to close due to tuff competition. now i want to do a new business. I can invest upto 10 lakhs. please suggest a business. don't have any degree for job. also not have any shop. want to do sme business with laptop and from home.

Ans: Dear anon, I don't have enough info to give you a menu card of business options within Rs 10 lakhs. There are several online business one can do from home - physical or digital products to services. Do some online research to find out options that interest you and have business potential. Talk to others in the field and get additional real work insights. All the best.

You may like to see similar questions and answers below

Pradeep Pramanik | Answer |Ask -Follow

Career And Placement Consultant - Answered on Aug 14, 2024

Question by Asif - Sep 08, 2023Hindi

Career

Hii sir, I am 43 year. I jobless since last 5years . I have experience in manufacturing industry like Tata motors and Mahindra over 13 years of experience I want to start my business no Idea. please suggest a profitable business . please suggest me best jobs or business I will do.i am in trouble not getting even a dicision. Needed your reference ,help, support to do. Please do the needful for

Ans: Dear Mr. Asif, As you had worked for two good automobile companies in their mfg units , your experience will be useful for any other automobile company however as you are not in job for the past 5 yrs , Many companies don't prefer candidates who are not in job hence to get a job in Company may not be easy but your experience will support you to get into good automobile dealerships in their service deptt. Starting a new business is risky and requires huge fund. In case you are so interested , you may start a service centre for vehicles of your domain.

Baqar Iftikhar Naqvi | Answer |Ask -Follow

Start-up Mentor - Answered on Sep 11, 2023

Question by Ashraf - Sep 11, 2023Hindi

Career

Hi sir ,My name is Ashraf And i want to start a business with small investment please Suggest which business is best to start

Ans: Ashraf Sahab- it is very difficult to suggest anything like that. You will have to answer that for yourself. Evaluate what you are good at - what is you core skill and is there an opportunity to do a business in a related field. Think about how much money you can risk? Do you have enough to run your live for 10-12 months or so. Only then think about starting something.

Typically service related businesses are easier to start and require lesser capital investments, that product related business.

Also reconsider why you want to be an entrepreneur. Doing job, is much easier than running your own business.
Only one out of a hundred businesses or so become successful

Chandu Nair | Answer |Ask -Follow

VC, Angel Investing, Entrepreneurship Expert - Answered on Nov 02, 2023

Question by azad - Oct 11, 2023Hindi

Career

for past 19 years i am working in a manufacturing company namely Tinplate company of india limited jamshedpur as mechanical engineer i want to do some buniness so that i have some monetory stability and extra income as you know today no one job is fixed forever pl suggest some small business for me so that after i loose my job i can sustain some income

Ans: Mr Azad, you would like to have a side business to generate additional income. You have provided no idea of your skills/expertise/ experience nor of your financial situation (I am guessing that you don't have any surplus to invest in a business).

First and foremost, pl check if your current employer permits moonlighting or having another job even if it is freelance/ gig work. Many companies can take stringent action in this regard.
Second, what skills/expertise/ experience do you have which is distinct from your current job at TCIL? E.g., are you a good writer, or can draw or teach well or translate from one language to another, or cook etc etc. That will help you identify possible alternate income generating possibilities,
Third, how much free time do you have per day? On the weekends? And at what time? That will narrow down the list of ideas.
Fourth, what kind of other infrastructure, manpower support etc is required for the idea? Do you have the ability to get /pay for it? If you don't, you can only do those activities which rely on your time and expertise. You need to be able to give focused attention to it on a sustained business be it tuitions, writing, cooking, generating online content or whatever else you finally choose.
Fifth, do you have access to a set of customers/ buyers who want what you can offer and are willing to pay for it and can you easily reach them?
Once you have gone through these steps, you would have likely identified an idea that can potentially give you an alternate source of income.
Best of luck

Latest Questions

Milind Vadjikar |373 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 10, 2024

Asked by Anonymous - Oct 09, 2024Hindi

Money

Hi Sir/Maam, I'm currently working in a US based company since 1.5 years and my employers says that they don't have PF law in US so PF will not be deducted from my salary so my PF account is inactive since 1.5 years. UAN portal shows that my bank details aren't updated so I entered the bank details and submitted in UAN portal. This has to be now approved by my previous employer as my current employer has not created a PF account. However, I had left my previous organization after a fight with my boss so it was not a smooth exit and I didn't even serve the notice period there. I just dropped my resignation email and walked out of the office on the same day. Now my previous employer has not approved my bank KYC details since 3 months and I even cannot reach out to them, as my exit from there was very unpleasant. PF office is saying that they can't do anything from their end and it has to be approved by my previous employer but I can't go back to them requesting to approve. Please suggest me how can I withdraw my PF amount?

Ans: Hello;

You may try to talk to the HR people at your previous organisation.

Regret for the improper exit and try to see if you can make things work.

Sorting out things amicably is suitable option for both.

Else you may lodge a grievance on EPFO grievance management portal EPFiGMS.

If this doesn't resolve the matter you may escalate it to Ministry of Labour through CPGRAMS.

You will get your EPF money no doubt about it.

Best wishes!!

Anu Krishna |1193 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Oct 10, 2024

Question by priti - Oct 10, 2024Hindi

Relationship

I am 48 years old woman and married for 11 yrs with a son of 9 yrs . my husband changed his gender 5 yrs ago without my and family consent but discloses it only 3 yrs back. i moved from my inlaws place with my son. none of us filed divorce.what should i do.what should be the terms and conditions if i file divorce. and how should i deal with my son..is this will have an impact on him.please advice

Ans: Dear Priti,
This is a question for a legal expert in case you are thinking of divorce as an option. The expert will be able to guide you accordingly...
Children do bear the brunt of their parents' separation but it can be handled with a lot of care...both the parents must be involved in his emotional highs and lows when he realizes that his parents are not going to be living under the same roof anymore...
It requires a lot of love, care and most importantly reassurance for him to know that he will never be ignored and will always have access to both parents...talk it out with your spouse and come up with a plan that keeps in mind the child and his emotional wellbeing.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Milind Vadjikar |373 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 10, 2024

Asked by Anonymous - Oct 07, 2024Hindi

Money

Hello, My current age is 42. Our combined post tax salary is around 6.25 lakhs. We have around 50L in mutual funds, 80L in direct stocks, 14L in gold, 30L in NPS, 31L in PPF, 21L in SSY and 2.5cr in real estate. Our current household expenses are around 1.5L per month and we are contributing 1L/month to NPS, 2L/month to SIP, 20K/month to direct stocks,1.5L/yr to PPF, I.5L/yr to SSY. We have an EMI of 50000/month for next 5 years .Our kids are 12 years and 10 years. We want a corpus of 4 cr for their higher education and of 1cr for their marriage. We are living in a company provided accommodation and plan to live in it till requirement.We want a 4L monthly pension and don't have a home right now. If we are planning to retire at 55, how should we manage our finances?

Ans: Hello;

Since NPS will be available only after you reach 60 and no info. about any rental income from real estate investment hence both are kept out of our purview.

1.Higher education goals for children typically start after 12th so we have 6 to 8 years for kid's education financial goal(4 Cr) attainment.

I have split it in two tranches:
A. 2 Cr after 6 years
B. 2 Cr after 8 years

For achieving target A following will work:
Direct stocks corpus of 80 L will grow into a sum of 1.5 Cr after 6 years. (Moderate return of 11% assumed)

PPF corpus and contributions will grow into a sum of 50 L+ after 5 years block when you may withdraw this corpus towards this goal. (6.9% return considered)

So 1.5 + 0.5=2 Cr

For fulfilling target B following will work:
MF corpus of 50 L will grow into a sum of 1.15 Cr after 8 years. (11% return considered)

50% of SSY corpus eligible for withdrawal expected to be around 27.85 L. (8% return assumed)

Direct stock monthly sip of 20 K will grow into a sum of 30.85 L in 8 years.(11% return considered)

Gold corpus of 14 L will grow into a sum of 24.05 L. (7% growth assumed)

So 1.15+27.85+30.85+24.05~~2 Cr

2. Target for Marriage of offspring:
1 Cr.
3. Retirement pension: 4 L per month
13 years from now.
Investible surplus left after all monthly investments utilized for fulfilling above targets should be immediately redirected to monthly SIPs in mutual funds. That includes 20 K direct stock sip, 12.5 K/pm SSY investment after 8 years from now and 12.5 K/pm PPF investment 5 years from now.

Also the 50 K getting free from loan EMI after 5 years should be converted into a mutual fund SIP.

After accounting for monthly expenses and monthly investments, from the balance 80 K, I would suggest you to deploy 50 K into MF sip since it will help in target achievement.

So summarily 12.5 K/8 yr, 12.5 K/5 yr, 20 K/5 yr, 50 K/8 yr and 250 K/13 yr will yield you a comprehensive corpus of 9.89 Cr. Add balance 50% SSY corpus of 27.5 L to this and your total corpus comes to 10.16 Cr. (MF returns assumed at a modest 11%)

Earmark 1 Cr for offspring wedding as envisaged.

Net retirement corpus will be 9.16 Cr. An immediate annuity at 6% will yield you a monthly income of 4.58 L from the age of 55 as planned.

You may use commutable corpus of NPS(60%) to buy your house. While NPS annuity portion(40%) may yield you a delta per month so as to have post tax income of 4 L per month.

This looks achievable because you have managed your finances and investments outstandingly well.

I discourage people to take direct stocks exposure especially when they are nearing the retirement but if you have the knowledge and temperament you may dabble into it subject to some minimum amount earmarked as risk capital.

I am sure you have adequate insurance cover for life and health.

Kudos again to your meticulous fiscal planning and execution.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Ramalingam Kalirajan |6558 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Oct 10, 2024

Question by Pratik - Oct 10, 2024Hindi

Money

How can I invest in Silver?

Ans: You can invest in silver through Silver ETFs. These are funds that track the price of silver and offer a convenient way to invest without holding physical silver. Silver ETFs are:

Easy to buy and sell on stock exchanges.
Cost-effective with no storage or insurance concerns.
Offer exposure to silver's price movement and potential for diversification.
Silver ETFs provide a hassle-free way to benefit from silver's growth potential without the complexities of physical ownership.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Nitin Narkhede |19 Answers |Ask -Follow

MF, PF Expert - Answered on Oct 10, 2024

Asked by Anonymous - Oct 07, 2024Hindi

Money

Hi all, Im 35, married and 4yr kid, and hav just started my investment journey in 2024 and i would like to invest to acquire corpus of 5CR

Ans: Hi Friend,
First of all, I would like to congratulate you for considering being financially independent and finding out your requirement for a corpus of 5 CR . you are at the age of 35, which means you have another horizon of 25 years, considering you are going to retire at 60. Second, you said your kid is 4 years old, which means the kid will graduate in the next 14 Years—post-graduation in 20 Years and marriage in 23 to 25 Years, that is, by your retirement time.
To achieve your goal of a Rs 5 crore corpus, it's important to have a structured investment plan that balances risk and growth over time. Here's a strategy to help you move toward that goal:
Set Clear Timeframes. Investing in Equity Mutual Funds, such as Large-cap, Mid-cap, and small-cap funds, Index funds, and flexi-cap funds, can help you diversify while mitigating risk.
If you invest Rs 1 lakh per month with an expected annual return of around 12% (CAGR), you could reach a corpus of Rs 5 crore in approximately 20 years. However, you need to review your investments regularly to stay on track.
Regards, Nitin Narkhede Founder of Prosperity Lifestyle Hub https://Nitinnarkhede.com
Free Webinar https://bit.ly/PLH-Webinar

Milind Vadjikar |373 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 10, 2024

Question by priti - Oct 10, 2024Hindi

Money

I am 48 yrs working women and want to invest in SIP.Can you guide me where n how much should i invest.I can spare 10000 p.m in th nameof my minor son age 9 yrs.

Ans: Hello;

You may consider investing in a aggressive hybrid (equity oriented) mutual fund.

Most solution oriented mutual funds for children are of this type. Only point to be noted about these children gift funds is that they have mandatory 5 year lock-in.

If you do a monthly sip of 10 K in a fund of this type say for eg. ICICI equity and debt fund(Growth) (No lock-in here) then you may expect to have a corpus of 16.92 L after 8 years. (A modest return of 13% is assumed)

If you are ok with 5 yr lock-in then you may consider investing in HDFC Children's gift fund.

The calculation will remain same.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Milind Vadjikar |373 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 10, 2024

Asked by Anonymous - Oct 09, 2024Hindi

Money

Hi Jinal ji, I am 41 years old and want to calculate my retirement corpus. My monthly expenditure is 50K per month and I plan to retire at an age of 55 years. The life expectancy in my family is about 80 years. Pls help me calculate my retirement corpus. It will be kind of you to provide the calculations so that I can try out various possible scenarios by myself. Thanks in advance.

Ans: Hello;

Your current monthly expenses of
50 K would rise to 1.13 L in 14 years time by the time you retire.(6% inflation considered)

Therefore you would need a retirement corpus of 4.5 Cr invested in an equity savings type mutual fund(Moderate risk)

You may do an SWP at the rate of 3% which will yield you monthly income of around 1.13 L(Inflation adjusted expenses).

The corpus will keep on growing at a net rate of 6% after deducting 3% towards SWP.(A modest return of 9% pa is assumed from equity savings type fund).

After 25 years you will have a corpus of 19.82 Cr, after accounting for SWP withdrawals of 7.86 Cr spread over 25 years.

It will still yield monthly payout of 4.95 L to cover inflation indexed expenses at the age of 80 years for you.

You can use many online tools available for retirement planning to do your various calculations, as desired.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Milind Vadjikar |373 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Oct 10, 2024

Asked by Anonymous - Oct 09, 2024Hindi

Money

Hi Vivek ji, I am 41 years old and want to calculate my retirement corpus. My monthly expenditure is 50K per month and I plan to retire at an age of 55 years. The life expectancy in my family is about 80 years. Pls help me calculate my retirement corpus. It will be kind of you to provide the calculations so that I can try out various possible scenarios by myself. Thanks in advance.

Ans: Hello;

Your current monthly expenses of
50 K would rise to 1.13 L in 14 years time by the time you retire.(6% inflation considered)

Therefore you would need a retirement corpus of 4.5 Cr invested in an equity savings type mutual fund(Moderate risk)

You may do an SWP at the rate of 3% which will yield you monthly income of around 1.13 L(Inflation adjusted expenses).

The corpus will keep on growing at a net rate of 6% after deducting 3% towards SWP.(A modest return of 9% pa is assumed from equity savings type fund).

After 25 years you will have a corpus of 19.82 Cr, after accounting for SWP withdrawals of 7.86 Cr spread over 25 years.

It will still yield monthly payout of 4.95 L to cover inflation indexed expenses at the age of 80 years for you.

You can use many online tools available for retirement planning to do your various calculations, as desired.

Happy Investing!!

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Anu Krishna |1193 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Oct 10, 2024

Question by Santosh - Oct 10, 2024Hindi

Relationship

Hello.. I am 44 years old and been happily married for 15 years with 14 years old son. My wife left home alone after some misunderstanding and the she left kid with me and after 02 month she sent me a divorce notice on the ground of drinking and smoking. kindly advice me what should i do

Ans: Dear Santosh,
You have not shared whether the allegations your wife made on you are true or not. Based on that, the way your lawyer can take up the case will change. So, seek a lawyer and tell him/her your entire story and proceed accordingly.
But, I would also suggest that you meet with your wife once to sort out misunderstandings if any and request her if the two of you can reconcile differences.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Anu Krishna |1193 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Oct 10, 2024

Asked by Anonymous - Oct 10, 2024

Relationship

Hi, I am not yet mairred. I used to like a man and after a month we decided to get married. He was of my caste so I thought my parents won't deny this mairrage. I used to talk to and wanted to let him know everything about my past so that we can built a strong root of our relationship. I spoke every detail of my past life to him. Then before he proposed me for mairrage I went for a vacation with my male friend to dehradun. I didn't tell him that day as he didn't proposed me till that day then why would I tell everything about me to anyone. He was noone to me at that time. After that he came to visit me in Delhi and on the same when he was on train a friend of mine along with his fiance came to meet me after a very long time. I asked him and he didn't denied. After returning home he blocked me. I cried and cried, called multiple times but he didn't received my call. Even I went to his location and waited for almost 3 hr but he didn't came. Then I asked my sister to call him. Then he talked to me but he said me so much of harsh and vulgar words that I went in shock. I cried a lot but he went on humiliating me. But somehow I convinced him to stay with me. I never talked to that friend ever. Then I told my parents about him that I want to get married with this men. Being a girl's father my father enquired about him by being annonymous. And trust me noone has said anything good about him. Later on we get to know that his father has a murder case on him of his brother in law. But then I wanted to get married. Finally my parents agreed only for my happines. Meanwhile I was never being respected by him. He always doubt me, humiliate me, abuse me mentally and physically, and when I was like I don't want to be with you he used to say sorry and begged me to be with him. He even used to restrict to visit my uncle aunty. His mother wants used to defend him and never used to make him realise that he was wrong. Then before engagement we went to Kolkata to buy dress. Yes one more thing I have informed him on the very first day that I used to drink and smoke occassionally. So whenever he used to visit me he always wanted to drink with me whether I want it or not. He always used to abuse me and humiliate me in front of everyone after drinking, so after a period of time I used to avoid drinking. Then he used to fight with me for that also that why will you not drink. In kolkata the same thing happen. We stayed there for 3 days and he was convincing to go to club from the very first day but I refused. On 3rd he hit me. After engagement his family asked for dowry. After a lot of dealing my parents agreed for an amount. But I felt betrayed. I stopped talking. After after when I initiated the conversation he picked up a fight and said he won't marry. I tried to convince. But when everyone was blaming me then I broke my silence and said everything about him to my parent. But he manipulated everything and made me villain. My parents want me to get married as the society will insult our parents. I am getting married in November only for my parents but I have already made up my mind that I'll divorce him after 1 year of mairrage and will live my life alone. Am I thinking right? What should I do?

Ans: Dear Anonymous,
No, you are not thinking right at all...This man is all RED FLAGS...
Are you actually thinking of spending one year with a person who physically abuses you? Seriously?
And then you expect him to agree to that divorce without any fuss? What world are you in? No compromises on your life please...
Be wise and protect yourself...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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