15 Best Small Business Ideas in Odisha

A hub for tourism, Odisha is an alluring state offering picturesque natural landscapes, immaculate beaches, historical monuments, and unique handicrafts. Besides tourism, Odisha has gained popularity as an industrial centre ranking high in industrial set-ups - food processing, textiles, chemicals, petrochemicals, and many more. So, here there's both the benefit of the marketplace and high footfall.

So, if you are willing to begin a small business in this state, read below to learn about some top small business ideas in Odisha.

Since Odisha is well connected to India and the world through various forms of transport, it facilitates trade and connectivity within several states and regions. So, it is a great decision to set up a business here. However, before that understand the market needs and requirements to proceed. 

Below is a list of some top small business ideas in Odisha to help you begin quickly:

1. Solar Panels and Battery Making

It is one of the most profitable industries in India as it consistently ranks 1st in generating profit. Odisha is a state that nestles in the Deccan region in India. So, this geographical location serves as an advantage for the ones who want to create a solar power business in Odisha. In this business, you can venture through several channels – manufacturing batteries or solar panels and promoting solar power usage in the state.

• Investment: ₹1 lakh to ₹3 lakhs.
• Resources: You will need raw materials, tools and equipment, silicon, an electric arc furnace, minimum labour cost, marketing materials, packaging, etc.
• Market Demand: Solar power market share in India will increase by USD 240.42 billion (₹240420000000 approx.) from 2021 to 2026, at a CAGR of 35.24%.
• Profit Margin: ₹50000 to ₹1.5 lakhs monthly.

2. Grocery Shop

As more students and working professionals dwell in the cities of Odisha, the demand for groceries is always high in this state. So, opening a grocery shop is profitable here as it has high demand and you do not require special skills. You can establish online and offline stores to attract your target market easily. Odisha's most popular grocery items include rice, cotton, mustard, milk, jaggery, potatoes, soybeans, etc. 

• Investment: ₹2 lakhs to ₹10 lakhs.
• Resources: You will need a space, materials, permits and licences, tools, a website (if it is an online store), etc. 
• Market Demand: The Indian grocery market will grow from USD 4540.0 million (₹695368.56 approx.) to USD 76761.0 million (₹11757089.51 approx.) by 2032, growing at a CAGR of 32.7% through 2032. 
• Profit Margin: ₹50000 to ₹1 lakh monthly.

3. Food Delivery

The food delivery business in Odisha has high potential since the number of working professionals and students is increasing considerably in this state. A food distribution business is a low-cost endeavour. If you are a good cook and want to establish this business, broaden your network by expanding your local contacts. Moreover, you can also develop a mobile app for online meal delivery services. If you are prompt and deliver quality food you are sure to earn big profits. 

• Investment: ₹50000 to ₹1 lakh.
• Resources: You will require vegetables and spices, utensils and equipment, kitchen tools, storage supplies, packaging and delivery items, etc. Moreover, build a website and develop marketing materials to advertise your business.
• Market Demand: The Indian online food delivery market will reach US$ 118.2 billion (₹118200000000 approx.) by 2028, exhibiting a CAGR of 27.8% during 2023-2028.
• Profit Margin: ₹40000 to ₹ 1 lakh monthly.

4. Online Teaching

The capital city of Odisha, Bhubaneshwar, is establishing itself as a knowledge hub of India as numerous public and private universities and institutes have been established here, increasing the footfall of students. Thus, one of the small business ideas in Odisha is online teaching, perfect for those who want the comfort of home, have a passion for teaching and possess the right skills and expertise. You must create online courses on subjects of your choice and build your website to start teaching online. 

• Investment: ₹30000 to ₹1 lakh.
• Resources: You will need a laptop/desktop, stationery, tools and equipment, software, a website plan, and marketing materials. 
• Market Demand: The global online education market size will reach USD 198.9 billion (₹198900000000) by 2030, growing at a CAGR of 23.12%.
• Profit Margin: ₹50000 to ₹3 lakhs monthly.

5. Eco-Tourism

One of the best small business ideas in Odisha is to enter into the tourism sector. Odisha has several ecotourism destinations – Debrigarh ecotourism, Chilika Lake, Gahirmath turtle sanctuary, etc., and tourists love to explore these places. In order to create travel plans for your customers, all you need is research, experience in this industry, a laptop and a good Wi-Fi connection. The best part is you can start this business from your home.

• Investment: ₹1 lakh to ₹3 lakh.
• Resources: You require a laptop/desktop, Wi-Fi, some stationary, furniture, a website plan and a marketing strategy to promote.
• Market Demand: The India sustainable tourism or ecotourism market size will reach US$ 151.88 million (₹23262.68) by 2032, with a considerable CAGR of 19.3% by 2032.
• Profit Margin: ₹40000 to ₹ 1.5 lakh monthly.

6. Content Marketing Agency

One of the best business ideas with low investment in Odisha is to start your content marketing agency. The content marketing field is an online-based work having high-income possibilities. All you have to do is buy a domain, build your website, hire trained workers, collaborate with companies (start from local areas) and work accordingly. You can deliver articles, blogs, social media copies, etc. per your client's needs. 

• Investment: ₹1 lakh to ₹5 lakhs.
• Resources: You will need a desktop or a laptop, tools and equipment, stationary, software, a proper website plan and marketing materials to promote your business. 
• Market Demand: The content marketing business is estimated to grow at a CAGR of 16.37% by 2027. The size of the market is forecast to increase by USD 584.02 billion (₹584020000000 approx.), growing at a considerable rate.
• Profit Margin: ₹4 lakhs to ₹5 lakhs monthly.

7. Jute Products Making

Odisha is the 4th largest producer of jute in India, after West Bengal, Bihar and Assam. You can start a jute bag-making business as it requires minimal investments. However, this business yields the best results in terms of profit. One must research the market needs and make jute bags, rugs, mats, hats, tables, etc., in demand nationally and internationally. 

• Investment: ₹2 lakhs to ₹3 lakhs.
• Resources: You will need raw materials, tools and equipment, threads, packaging materials, and a website to promote your business. 
• Market Demand: The global jute bag market size will reach US$ 4.2 billion (₹4200000000 approx.) by 2028, exhibiting a growth rate or CAGR of 8.67% during 2023-2028.
• Profit Margin: ₹50000 to ₹1 crore monthly.

8. Artificial Jewellery Making

One of the top small-scale business ideas in Odisha that require minimum investment is building artificial jewellery. However, you need creativity to make unique designs for your clients. Try to visit the rural areas in Odisha to watch artisans making decorative pieces. To flourish, you must expand your business by tying up with artificial jewellery manufacturers, parlours, etc. In addition, you can also sell your jewellery online.

• Investment: ₹1.5 lakh to ₹2 lakhs.
• Resources: You will need raw materials such as beads, sequins, tools and equipment, threads, packaging materials, and a website to promote your venture. 
• Market Demand: The Indian costume jewellery market will grow at a CAGR of 8.64% by 2027. The market size of the jewellery business will increase by USD 639.32 million (₹97921.37 approx.).
• Profit Margin: ₹30000 to ₹40000 monthly.

9. Handicraft

Odisha is well known worldwide for promoting and selling textile-based handicrafts – pottery, horn-work, terracotta, tribal jewellery, brass and metal items, grass and cane work, applique art and many more. If you have a creative mindset and want to enter the handicraft industry, start small by visiting rural areas of Odisha where you can learn from artisans and their way of work. Start by making unique craft pieces at home and sell them online as they are in high demand in the global market. 

• Investment: ₹10000 to ₹30000.
• Resources: You require natural fibre, clay, wood, bamboo, decorative designs, glue, thread, packaging and delivery supplies, storage spaces, etc. 
• Build your website and advertise it to your potential customers about your products.
• Market Demand: The Indian handicrafts market will reach US$ 6218.4 million (₹952227.95) by 2028 and will exhibit a CAGR of 7.7%, during 2023-2028.
• Profit Margin: ₹20000 to ₹50000 monthly.

10. Home Décor Business

Another top small business idea in Odisha to opt for, interior decor, is a trending business in Odisha. As the location is famous for handicraft items it is ideal to set up a home décor business here. However, you must have a degree in home décor and have the right creative skills to open a venture in this sector. The best part is that you can sell home décor products through online and offline methods.

• Investment: ₹1 lakhs to ₹3 lakhs.
• Resources: You will need a website, software, a workspace, a laptop/desktop, etc. 
• Market Demand: The revenue in the home décor segment amounts to US$ 1.75 billion (₹1750000000) in 2023. This market will grow annually at a CAGR of 6.75% from 2023 to 2027. 
• Profit Margin: ₹50000 to ₹1 lakh monthly.

11. Sarees and Textile

Handloom sarees are the most popular textiles in Odisha. You will get Bomkai/Sonepuri saree from Ganjam, Ikat/Bandha saree from Sonepur, Kotpad saree from Koraput, Dhalapathar saree from Dhalapathar, etc. All these sarees are entirely hand-woven clothing items. Therefore, you can start this business at a low investment, making it a lucrative venture in Odisha. 

• Investment: ₹3 lakhs to ₹5 lakhs.
• Resources: You will need a website plan so that you can provide pictures of your sarees online, packaging materials, a proper marketing plan to advertise your brand, a laptop and a few stationary, etc. 
• Market Demand: This saree and textile business has a 6% annual growth rate in India. So, the Indian saree market is expected to witness a CAGR of 6% over the coming three years and record a total of ₹61700 crore by 2025.
• Profit Margin: ₹50000 to ₹1 lakh monthly.

12. Liquid Soap Making

Liquid soap is considered a long-lasting consumer product that boosts health awareness and is easy to carry. Making liquid soaps and selling them to several hotels, restaurants, hospitals, schools, and offices can be another low-investment business in Odisha. You must learn the business concept before venturing. Start making liquid soaps at home and outsource the processing, packaging and marketing operations.   

• Investment: ₹6 lakhs to ₹10 lakhs.
• Resources: You will need base oils, caustic solution, dilution phase, additives, boric acid, distilled water to dilute the soap paste, and soap dye or colourant.
• Market Demand: The fastest-growing segment of the soap market in India between the years 2015 and 2020 was liquid soap. It registered a CAGR of 23.81% during that period. However, the global liquid soap market size might reach USD 28.79 billion (₹28790000000 approx.) by 2027, offering a CAGR of 5.9% during the forecast period.
• Profit Margin: ₹50000 to ₹1 crore monthly.

13. Candle Making

One of the best business ideas in Odisha with low investment, you can make candles with unique designs at home and sell them locally. Candle-making business includes minimal investment and raw materials required for making candles are readily available. Moreover, decorative candles are highly in demand as ideal gifting options. You must collaborate with local gift shops and online sources to sell your product online and offline.

• Investment: ₹25000 to ₹2.5 lakhs.
• Resources: To make candles, you require wax and wicks (preferably cotton), glue, a spatula, a double boiler, a thermometer, a mason jar, a pen/pencil and some decorative items. You require packing materials so that you can pack your candles properly before delivering them to your clients. 
• Market Demand: Revenue in the candles industry amounts to US$ 312.70 million (₹47883.97 approx.) in 2023. The market will considerably grow at a CAGR of 4.81% from 2023 to 2027.
• Profit Margin: ₹10000 to ₹50000 monthly.

14. Photography

With the advent of social media, the trend for photography has increased considerably. As Odisha is a popular tourist destination, it has a demand for photography. This business requires creative skills and good knowledge of angles and lighting if you want to run it professionally. Also, the investment is low and all you need is a good camera setup to run your business successfully.

• Investment: ₹1 lakhs to ₹3 lakhs.
• Resources: You will need a camera set-up, camera equipment, laptop/desktop, other tools and equipment, a website plan and a marketing strategy to promote your business.
• Market Demand: The global commercial photography market will reach a valuation of US$ 6.4 billion (₹525081600000 approx.) by the end of 2032, expanding at a CAGR of 2.2% over the next ten years.
• Profit Margin: ₹30000 to ₹50000 monthly.

15. Exporting Cashew Nuts

Cashew is one of the major crops cultivated in various parts of Odisha. Places like Puri, Ganjam, Jajpur, Koraput, and Khurda are famous for producing high-grade cashew nuts.  Since the demand for cashew nuts is always rising, it is an ideal business to opt for in Odisha. As an entrepreneur, you can start a cashew farm or become a trader and export cashew to different parts of the country.

• Investment: ₹2 lakhs to ₹5 lakhs.
• Resources: You will need a well-built website where you offer cashews in different forms and promote how they can be gift items. You will also need marketing strategies, packaging and storing spaces and materials, etc. 
• Market Demand: India’s cashew market will reach US$ 1136.31 million (₹ 174042.79 approx.) by 2027, growing at a considerable rate. 
• Profit Margin: ₹1 lakh to ₹4 lakhs monthly.

Now you must have a detailed idea about small business ideas in Odisha. So, before venturing into any business, try to understand the area of interest of your target market, communicate with the local crowd to understand the needs and requirements, and polish your skills.

Moreover, it is necessary to have a unique selling proposition that will help you attract potential customers to your brand. Lastly, try to develop a proper business plan that serves as a roadmap outlining your goals, strategies, and financial projections.