Income Generating Activities (IGAs) consist of small businesses managed by a group of people or women, in particular, to increase their household income through livelihood diversification. At Paisabhai.com we provide kick-off funding to the most sustainable concepts in order to aid in the development of these initiatives. As a part of Paisabhai.com’s belief in supporting society, our financial offerings and your IGA idea can be exactly what you and your loved ones need.
Income generating activities can be of various types, some of them are as follows:
An activity which is common in nearly every part of the country. Women participate in these duties on a seasonal basis in many rural households. They store excess produce for use in the home and for sale when the family requires additional funding. However, the routine production of a product that is standardised for the market is still uncommon, and a variety of locally producible goods are lacking.
In towns where milk is in excess, small-scale milk processing businesses could be formed. Women traditionally handle the manufacturing of local cheese and one area of traditional female responsibilities is milk processing. In many Indian families, understanding industrial methods is already common. With the ever-growing demand for dairy products in India, with proper strategy, this can be highly profitable.
In India, the market for aromatic and medicinal plants is very lucrative. Flowers, indoor plants, fruit tree nurseries, vegetables, aromatic and medicinal plants, and other agricultural production activities can all be done to generate a good income. Vegetables and medicinal plants ought to be related to packing and processing operations.
In particular, goat, poultry, pig, dairy, fishing, duck, and other animal management, processing, and selling, as well as caregiving, gathering feed and attending births, women play a significant role. Although not all women are in charge of the sale of milk and its by-products, they are nonetheless involved in the production of milk. The key to fostering women’s economic and social empowerment is to recognise and promote women’s roles as livestock owners, processors, and consumers of livestock products while enhancing their decision-making capacity and talents. This will help rural women break the cycle of poverty.
The top request from young women in almost every nation is assistance with the development of handicrafts at the village level, such as carpet manufacture, knitting, and sewing. The primary goal of knitting and sewing development is to meet domestic demand. Consequently, social services (welfare organisations, women’s unions, etc.) are capable of doing these activities.
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Paisabhai.com is committed to serving society by supporting you and your loved ones regardless of the applicant’s background. When assessing an IGA for offering financial assistance, Paisabhai.com considers various factors, some of which are as follows:
To better understand the profitability and relevance of an IGA, we classify each IGA on the basis of its projected income and market reach.
We do this by determining whether or not the applicant proposing the activity has the necessary technical abilities and the potential to do so quickly. To ensure a minimum level of profitability for the activity, it is essential to underline the need for a minimum of professionalism (good quality and competitive goods should be produced). We also take into account the applicant’s management skills since an IGA is an economic venture which requires specific management skills. Once the skills of each individual or group have been identified, other prerequisites for a technically feasible operation have to be established (for example, water for home gardens, raw materials for handicrafts, and feed for animal raising).
The IGA should generate income or a surplus (profit), operate without subsidies, and be profitable (sustainability). An activity that generates profits must be lucrative; in other words, returns must exceed costs in order to generate a profit. Market potential should be found, and any dangers should be taken into account. It is necessary to identify each operation and list them in a logical and chronological manner. At the time of application, we would also require you to submit a Plan of action for your proposed IGA.
While the above-mentioned is a speculative list of factors we take into account while assessing any application, based on different requirements we may require further documentation in support of one’s application.