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5 Start-up Ideas That can Also Solve Societal Problems

By Finserv MARKETS - Aug 23,2019
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Start-up ideas for Societal Benefit

Entrepreneurs have a tendency to be struck by ideas every now and then. Sometimes the inception of these ideas come from a problem the society is facing as a whole. Start-up businesses in India have boomed during the last decade, transforming consumerism seamlessly. However, financing of fresh business ideas that could have positive yet long term societal impact is still an uphill task. Here are five start-up ideas that can avail business loans to address a few societal issues faced by India’s citizenry.

1. Elderly Care for Senior Citizens

For all the talk of India’s demographic dividend, its bulging youth population, the country is also greying rapidly. According to a 2016 report by the ministry for statistics and programme implementation, around 30 percent of India’s 103.9 million elderly people above age 60 now resides in urban areas. The report further adds that by 2050, 20 percent of the population will be ‘elderly’ . In metro cities, the elderly persons are mostly living alone or along with spouses without adequate personal care from their children and there is a huge need for help in a variety of areas right from paying utility bills, fetching groceries to accompanying them to social gatherings and hospital appointments. This huge untapped demand for elderly care service in India can be capitalized upon by being the much-required helping hand to them. Bajaj Finserv lending, available on Finserv MARKETS, provides customized small business loans for such unique start-up ideas to take shape.

2. Women-only Travel Firms

In a deeply patriarchal society like India, that has witnessed a steady rise in crimes against the female population, women travelling alone can be a dangerous proposition and the modern, independent Indian woman, whether married or single would want to explore the world, free from family responsibilities and of course, with a guarantee of safety . Women-only travel start-ups, managed entirely by women staff that can leverage the advantages of technology navigation coupled with self-defence techniques can pave a way for women empowerment through travel. The idea can smoothly take off through Bajaj finserv lending that offers small business loans to women entrepreneurs, packaged with beneficial features like zero collateral, flexible repayment tenor, 24-hour loan approval, and minimal documentation.

3. Green Start-ups for Sustainable Environment

Sustainability has been a topic with increasing popularity, influencing many of our lifestyles. Zero waste and minimalist movements are growing on a daily basis and more entrepreneurs are searching for sustainable and flexible options for our daily needs. Start-ups that work towards banning the use of plastic by replacing it with alternate recyclable options, reducing water consumption, or those that collaborate with organisations and technology in an attempt to help improve health, nutrition and agriculture situation in rural areas are of priceless utility in achieving the goal of sustainability for a better future of the planet.

4. Education

In India, there are more than 1.6 million primary and secondary schools, 37,204 colleges and more than 789 universities. At the same time, there are 3500 edtech start-ups. The former clearly indicates that traditional brick and mortar medium of education still dominates the Indian education system. However, the small number of edtech start-ups have brought forward a technological revolution which has placed the smartphones and tablets in the hands of users as young as 3-4 years[4] and has provided high-quality

learning opportunities to marginalised students. Despite the growth, these edtechs lack sufficient working capital to meet their short-term business needs like inventory, payroll and overhead costs that can impede their smooth functioning. Under such circumstances, a business loan from Bajaj Finserv, available on FinServ MARKETS, comes in handy for small businesses to fund their day-to-day operations.

5. Rehabilitation Health Clinics

With increased disposable incomes, there has been a steep rise in alcohol and tobacco use, tendency to use to prescription medicines-particularly antidepressants and painkillers increasingly. The demographic that is misusing substances now includes women, the youth and transgender population. There are a number of people who want to seek treatment, but the number of treatment facilities or programs to meet these demands are inadequate [5] . An integrated facility encompassing physicians, psychiatrists, psychologists, nutrition experts, recovery counsellors and family therapists, all under one roof, and that has the potential to provide long term and sustainable support involving lifestyle changes would be a ‘healthy’ start-up concept. It is heartening to learn that such ‘healthy’ endeavours are being encouraged and exclusive business loans for doctors are on offer on Finserv MARKETS.

Loans from Bajaj Finserv, available on Finserv MARKETS, help small businesses with capital for buying fixed assets. Finserv MARKETS has made online financing quick and easy, with lower documentation requests and increased transparency.

Get top financial advices for women.

Read more about Government Schemes for Start Ups

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