Top ideas to start a small scale chemical business - WorldOfChemicals

How to Start a Small-Scale Chemical Business

Category : General Chemicals
Published by : Data Research Analyst, Worldofchemicals.com

Introduction


At present, there are many aspiring entrepreneurs, who are eager to start their own small-scale business. Chemical businesses, apart from being profitable have huge export potential. When it comes to the Indian chemical industry, its contribution to the GDP is around 6-7%. It affects people’s lives in numerous ways. Whether they are garments that are worn or drugs that are consumed, they are integral to human civilization. The chemical industry has significant linkages with many other downstream industries like textile, food processing and automotive.

 

Getting Started with the Small-Scale Chemical Business

Below are a few steps for getting started with the small-scale chemical Business:

 

1. Prepare a business plan

A business plan includes the framework of the chemical business’s goals, vision, and mission, which is based on industry information and market analysis.

 

2. Be wary of the competition

It is crucial to know about the regional competitors before the commencement of the chemical business. The strengths and weaknesses of the competitors must be understood in order to know how to have an edge of them.

 

3. Get expert opinion

Chemical businesses involve high risks, which can be mitigated though industrial insights from experienced entrepreneurs, who wouldn’t mind guiding start-up entrepreneurs, provided they are not their direct competitors.

 

4. Choose the route

There are two routes which aspiring entrepreneurs can take up – launch a new business or buy an existing business. When it comes to a startup, it enables an individual to create something based on his/her leadership style and goals. However, financing the startup would be difficult because of its risky nature. Whereas, a business that has been bought is lucrative has lesser uncertainty. When it comes to financing, it is easier to get investments and loans.

 

Classification of the Chemical Industry

There are three main classifications for the chemical industry. These are:

 

1. Primary 

  • Thermoplastics
  • Aromatics
  • Inorganic Chemicals
  • Thermosets

 

2. Knowledge

 

3. Specialty

 

Top Profitable Small-Scale Chemical Business Ideas

These are few leading profitable small-scale chemical business ideas, that can be started with low investment.

 

Basic Chemicals

  • Organic Chemicals
  • Ethylene
  • Acetic Acid
  • Phenol

 

Inorganic Chemicals

 

Agro Chemicals

  • Fertilizers
  • Insecticides
  • Herbicides
  • Fungicides
  • Pesticides

 

Cleaning Chemicals

  • Dry Cleaning
  • Bleach
  • Lye
  • Vinegar
  • Baking Soda

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