COVID-19 had undoubtedly tossed the peace of mind of millions of people and had sent the global economy into a tailspin. Amidst such pandemonium quickness, expandable, automation will be the new keywords for any new business to flourish. We also know how many countries will be hit by this sudden unprecedented recession. Hence, it could lead to severe fluctuations in the economy across the globe.

However, after a thorough analysis with the industrial experts let us identify the areas of the economy that are primed for new entrants. Let us read to know more which startups will flourish in the days to come and what are the business registration and license one would require.

Home-Based Catering

One can earn a decent amount of money out of this business venture. The only reason is due to the shutdown of many famous restaurant businesses. Opening a home-based catering business would require an initial investment but it solely relies on the expenses one can afford. Initially, such a Food Business operator requires experimenting with local food markets and delicacies.

Registration/ License Required:

• Company/Business Registration.
• FSSAI.

Tax Benefits:

• ITR Filling
• GST

Online Education/Tutoring

We all are aware of how the education sector has received a severe blow and as a result, students are opting for online tuitions. For such a venture one would require to be an expert also should have a bachelor’s degree in the subject that one would intend to teach. You can further deliver the sessions or lecture via Skype or Google Meeting and make online tutoring one of the busiest online business startups.

Registration Required:

• Company/Business Registration

Tax Benefits:

• ITR Filling
• GST

Export Industry

Both the agricultural and production industry of India is witnessing a notable growth that would lead to a beneficial export opportunity for the country's business personnel. As the Indian products hold a good proportion in the foreign market by now and due to the recent recession throughout the globe for the Covid-19 pandemic, Indian exporters would expect a better business sphere in the near future. 

Registration required:

• APEDA License
• Import Export Code
• Company Registration
• GST Registration

Digital Marketing

Businesses are going to become more reliant on digital strategy. Due to the almost severed connection with channels related to live events and conferences, the fair’s also the increase in barriers on the face to face business are the threats faced. Hence, Digital Marketing here is a clear winner. Companies that have a social media page will now need to move into social media marketing, content marketing, SEO.

Registration Required:

• Company/Business Registration

Tax Benefits:

• ITR Filling
• GST

Fitness Equipment Company

We also see how the fitness industry was severely hit by the pandemic but continued to thrive after it and focus shifted from going to the gym to buying and procuring the equipment themselves. Where the gym enthusiasts are investing money and getting their gym set up with the required equipment.

Registration Required:

• Company/Business Registration
• IEC

Tax Benefits:

• ITR Filling
• GST

Mask Making & Sanitizer’s

The market is flooded with masks and sanitizers. Before 2020 the demand did not shoot up so high with pandemics hitting Indian shores. As a result, how almost everyone wants to obtain high-quality masks to protect themselves and also people around them.

Registration Required:

• Company/Business Registration
• Drug Licence(for sanitizer)
• IEC

Tax Benefits:

• ITR Filling
• GST

App Development

The cost of setting out such a venture has drastically gone down due to the affordability of developers and growth of tools. Nowadays, you can use software to create the wireframes also the mockups before the publication. There is also an opportunity to earn passively by creating apps for consumers. 

 Registration Required:

• Company/Business Registration

Tax Benefits:

• ITR Filling
• GST