Odisha, also known as Odisha, offers several advantages that make it a good place for business. Odisha is strategically located on the eastern coast of India. The state provides easy access to major markets in India and neighboring countries. Its proximity to ports and transportation networks facilitates trade and export opportunities.
Odisha is endowed with abundant natural resources. It includes minerals, coal, iron ore, bauxite, and chromite. This makes it attractive for industries such as mining, steel, and power generation, offering ample opportunities for related businesses.
The present population of Odisha is over 45 million people. As a result, the state of Odisha offers a huge consumer market. Odisha is also known as the Land of God. You will find temples like Lord Jagannath Temple, Lingaraj Temple, Mukteswar Temple, and Konark Temple. Furthermore, Odisha is home to vibrant and culturally rich cities like Bhubaneshwar, Cuttack, Brahmapur, Rourkela, Sambalpur, Balasore, and Puri.
There has been a steady rise in disposable income and urbanization in the state in the last few years. Hence, the state of Odisha presents a wide range of opportunities for businesses across various sectors.
List of 21 Small Business Ideas in Odisha
1. Digital Marketing Agency
More and more small businesses in Odisha are trying their best to get into the online space. Hence, there is a big demand for digital marketing professionals here. You can start a digital marketing agency that provides services like social media marketing, search engine optimization, content creation, and online advertising. Concentrate on helping local businesses enhance their online presence and reach their target audience and thereby make good money.
2. Start a Home-based Online Business
If you are looking to start earning online from home in Odisha, there are several businesses you can opt for. Some of them are listed below:
- Start a Blog
- Online Tutoring
- Affiliate Marketing
- Create Online Courses
- Freelance Writing
In addition, you can also do small tasks with no skills and make good money. You can check our article on the best online jobs to learn more.
3. Candle Making
Any individual can initiate a candle-making business from home. Apart from the traditional white candle, scented and decorative candles have high demand. Start selling locally. Candle-making raw materials are available at the local wholesale market. Decorative candles have a huge market as a gift item. Contact gift item retailers and sell the candles consignment basis. The Crafts Fair is the best place to sell your decorative candles.
4. Create an Online Shop
Consider setting up an online store to sell a wide range of locally produced products of Odisha. It can be locally sourced handicrafts, textiles, traditional artwork, and agricultural products. However, developing creative online marketing strategies will play a critical role in the success of this business.
5. Car Rental Business
The tourism industry is developing very fast in Odisha. Also, the growing industrialization has created a demand for car rental services. Car rental is one of the most legitimate business ideas in Odisha.
The primary operation would involve scheduling customer reservations and supplying the rental car. A car rental business in capital and management intensive business. It needs a lot of research before you go into the market.
6. Cashew Nut Processing
Odisha is popular for cashew production. This is an important cash crop in Odisha. You will find places like Khurda, Ganjam, Puri, Jajpur, and Koraput producing high-quality cashew nuts.
Small-scale cashew nut processing can be initiated in selective locations, considering the availability of raw materials. The demand for cashew nuts is increasing, whereas its supply is limited.
7. Computer Training Institute
The state’s capital city, Bhubaneswar, is emerging as a knowledge hub in India with several new public and private universities, including the establishment of an Indian Institute of Technology. The computer training institute is an ideal business for aspiring computer-savvy professionals in Odisha. Running a computer training institute with other value-added services can be a profitable and self-rewarding business.
8. Diagnostic Center
An individual having experience in laboratory science can initiate a diagnostic center business with substantial capital investment. The diagnostic center with pathology is one of the most profitable businesses in the medicine and pharma industry.
Heightened physician awareness and the increasing patient requirement to avail of high-quality care, have increased the demand for a good-quality diagnostic center.
9. Wellness and Ayurveda
The wellness industry here is poised for good growth in the coming years. You can open a wellness center providing Ayurvedic treatments, yoga classes, and wellness retreats. Also, consider offering organic and Ayurvedic products, including herbal cosmetics, oils, and medicinal herbs.
10. Ecotourism
In Odisha, there are many Eco-Tourism places where one can get completely devoted to nature’s beauty and have a peaceful mind when one goes back. Some such places are TikarPada, Gahirmath Turtle Sanctuary Chilika Lake, River Beds, National Parks, and Debrigarh Ecotourism. Ecotourism is one of the most viable business ideas in Odisha.
11. Handicrafts and Handloom
The Handloom sector after agriculture provides massive employment to rural artisans. Odisha has a rich tradition of producing handloom products. Even the skill and knowledge imbibed over the generation have given the state of handwoven textiles an unparalleled depth, range, strength, and vigor.
Handloom cloth is one of the richest and most resilient media of ethnic expressions. An embroidery unit is one of the most legitimate business ideas in Odisha to start with moderate capital investment.
You can also start a business showcasing and selling traditional Odisha handicrafts like Pattachitra paintings, stone carvings, terracotta items, and handloom textiles.
12. Jute Bag Making
Odisha is the fourth-largest producer of jute after West Bengal, Bihar, and Assam. Rice and jute, compete with each other as they require almost similar soil and climatic conditions.
The cultivation of jute is primarily confined to the coastal plains of the Cuttack, Balasore, and Puri districts. According to raw material availability, jute bag making is one of the most legitimate business ideas in the state. The manufacturing process is quite simple.
13. Liquid Soap Making
Liquid soap is considered a consumer-durable item. Increasing health awareness and disposable income are the two major reasons for increasing the demand for liquid soap. The liquid soap-making business includes a wide range of processing, packaging, and marketing operations. The business also demands extensive market research and marketing strategy.
14. Open a Diagnostic Medical Lab Business in Odisha
The diagnostic medical lab center has been growing in huge numbers in Odissa in the last few years. There is a wide scope of new diagnostic labs to meet the huge demand for lab services. Furthermore, one can make a gross margin of around 30 to 60% on average.
15. Tourism and Hospitality Services
Establish a guesthouse, homestay, or boutique hotel catering to tourists visiting popular destinations in Odisha like Puri, Konark, and Bhubaneswar. Or, you can start a travel agency and offer curated tour packages, cultural experiences, and eco-tourism activities to visitors.
16. Start an Agro-Based Industry in Odisha
Set up food processing units for products like spices, pickles, or dairy products using locally sourced ingredients. In addition, consider starting organic farming, aquaculture, or floriculture based on the region’s agricultural potential.
17. Adventure Tourism
Another prospective business in Odisha is providing adventure sports activities. You can develop eco-friendly resorts, nature camps, or adventure sports facilities in scenic locations like Simlipal National Park or Chilika Lake. Furthermore, offers activities such as trekking, wildlife safaris, boating, and bird-watching.
18. Food and Beverage Business
There is a good demand from tourists for local food here in Odisha. You can start a restaurant or café specializing in Odia cuisine or regional delicacies. If you are short on funds, explore unique food concepts like food trucks, street food stalls, or local snack production.
19. Fruits Vegetable Export
Odisha certainly has huge potential in exports, especially in the micro, small, and medium enterprises (MSME) sector. Fruits and vegetable export with other allied products are one of the most profitable business ideas in Odisha. Any export business demands adequate knowledge about foreign markets.
20. Renewable Energy
The solar power industry is growing in the state. You can consider venturing into solar power or wind energy solutions, including installation and maintenance services. If you are an expert, offer consultancy on energy efficiency and promote renewable energy adoption.
21. Online Food Delivery
Like in any other state in India, the concept of online delivery is observing good growth in Odisha. To meet the demand, you can start an online food delivery service offering a diverse menu of local cuisine, snacks, and desserts. You can also partner with local restaurants and eateries to offer a wide variety of food options. For this, one needs to develop a user-friendly website or mobile app for customers to place orders conveniently.
Is Orissa a Good Place to Start a New Business?
Yes, without a doubt, Odisha offers one of the best facilities for startups to start a new business. Some of the reasons are listed below:
a) Strategic Location of eastern
Odisha possesses certain locational advantages that make it a business-friendly state. You will find direct flights from Odisha to major cities like Delhi, Mumbai, Vishakhapatnam, Kolkata, Chennai, etc. In addition, the state boasts highly active ports like Paradeep, Dhamra, and Gopalpur.
b) Industrial Infrastructure
The state has developed industrial parks, special economic zones (SEZs), and industrial corridors to support various sectors. Infrastructure facilities like ports, airports, and highways are well-developed, enabling smooth logistics and connectivity.
c) Skilled Workforce
Odisha has a large pool of skilled and semi-skilled labor, particularly in sectors like engineering, manufacturing, and information technology. The presence of reputed educational institutions and training centers contributes to a skilled workforce.
d) Government Support
The Government of Odisha provides a favorable business environment with various incentives, subsidies, and facilitation measures. It has implemented business-friendly policies, ease-of-doing-business initiatives, and a single-window portal(GO SWIFT) for investor facilitation and tracking
e) Opening of Emerging Sectors
Odisha is witnessing growth in sectors like information technology, electronics manufacturing, food processing, renewable energy, tourism, and healthcare. These sectors offer ample business opportunities, supported by government initiatives and market demand.
f) Rich Cultural Heritage
Odisha’s rich cultural heritage, ancient temples, pristine beaches, and natural attractions draw a significant number of tourists. This opens avenues for businesses in tourism, hospitality, handicrafts, and eco-tourism.
g) Entrepreneurial Ecosystem
Odisha has a growing entrepreneurial ecosystem with startup incubators, mentorship programs, and funding support. The state encourages innovation and entrepreneurship, providing a conducive environment for startups and small businesses.
h) Cost Benefits
Compared to some other states in India, Odisha offers a cost advantage in terms of land, labor, and operational expenses. This can be advantageous for businesses looking for cost-effective setups and operations.
i) Rising Market Potential
With a population of over 45 million people, Odisha represents a significant consumer market. The rising disposable income and urbanization in the state present opportunities for businesses across various sectors.
These factors collectively make Odisha an attractive destination for business, offering a favorable ecosystem, abundant resources, supportive policies, and market potential for entrepreneurs and enterprises.
Frequently Asked Questions
What are the legal requirements to start a business in Odisha?
To start a business in Odisha, you need to register your business entity with the Registrar of Companies or appropriate authorities. In addition, obtain necessary licenses and permits, and comply with tax and regulatory obligations. It is advised to talk to local competent authorities and follow them as instructed.
Are there any specific government schemes or incentives available for businesses in Odisha?
The Odisha government offers various schemes and incentives to promote entrepreneurship and business growth. It includes financial assistance, subsidies, tax benefits, and skill development programs. You need to research and consult relevant government departments for updated information.
How can I promote and market my business in Odisha?
You have to utilize both online and offline marketing strategies. It is advisable to establish a strong online presence through social media marketing, website development, and search engine optimization. Engage with local communities, participate in trade fairs, and collaborate with local influencers or organizations to increase brand visibility.
What are the key factors to consider while selecting a business location in Odisha?
There are several factors that must be considered before finalizing a business location in Odisha. Some of them are proximity to target customers, availability of raw materials, transportation facilities, access to skilled labor, infrastructure, and the business ecosystem in the chosen location.
Is there any financial assistance available for setting up certain types of businesses in Odisha?
The Odisha government provides various financial assistance programs and loans for specific sectors. It includes agriculture, small-scale industries, and women entrepreneurs. You need to explore the state government’s official website and contact relevant departments for detailed information.
Editorial Team at 99BusinessIdeas is a team of experts led by Rupak Chakrabarty with over 25 years of experience in starting and running small businesses. Started in 2010, 99BusinessIdeas is now one of the largest free small business resources in the industry.
