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20 Small Business Ideas for Students

Business Ideas

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April 8, 2019

business ideas for students Business Ideas for Students – Everyone knows that college students struggle a lot to get a good job. Unemployment and joblessness are very common today. To overcome this type of situation it is always recommended to start a business at student age either in school or college. Starting a business at student age have many advantages. It will help you to limit your debt liability (Student Loan) as well as help you to handle other financial obligations. You can get exposure to the business at an earlier age which will help you to start something big at a later stage of your life.

If you are a student and searching for the best small business ideas with low investment, you are at right place. In this post, I will share 20 Small Business Ideas for Students that can be started with zero or low investment. You need to select an idea in a manner so that It will not affect your study time.

Also Read – 50 Best Small Business Ideas for 2019

20 Small Business Ideas for Students

Online Business Ideas for Students

#1 Blogger

First online business idea for the student is blogging. Blogging is a very good business option. In blogging, you need to start a blog in a specific niche of your knowledge. Few popular niches are finance, traveling, technology, etc. Once your blog gets popular and generates traffic you can earn money from direct advertisement. I know many student bloggers who are earning very good monthly income by blogging.

#2 Virtual Assistant

Becoming a virtual assistant is next in the list of business ideas for students. It is a completely online business where you need to login to various websites such as Amazon Mturk, Fiverr to get a job as a virtual assistant. You need to complete various tasks such as typing letters, replying emails, scheduling meeting, etc. You will be paid fixed money for the tasks based on hours.

#3 YouTube Personality

Next business idea for the student is becoming a YouTube Personality. If you are young, dynamic and talented you can become YouTube Celebrity. In this business, you need to start your YouTube Channel on a specific subject such as movies, gossip, news, comedy, etc. You need to post creative videos on this channel. You will need high-quality camcorder for this. Once your YouTube channel becomes popular you can apply for the YouTube Channel Partner program. This program will help you in earning money by showing advertisement on uploaded videos.

#4 E-book Author

The task of e-book author is to write a book and sell it online on Amazon or eBay. If you have writing skills and command over English this idea is for you. In this business, you need to write e-books on various topics as per your area of interest. You can also make a course book. You need to work hard on promoting your e-books. You can earn a lot of money from this business.

#5 Paid Survey

Paid survey is a task where you need to provide your opinion on various products and services online. There are many companies looking for genuine feedback about their product and services. They are ready to spend money on this. To start this business, you need to login to various survey website such as SwagBucks, SurveySavvy etc. You can earn a decent income with this idea.

#6 PTC (Pay to Click) Ads

PTC (Pay to Click) is a new profession where you can earn money by viewing or clicking an advertisement. There are many legitimate PTC websites offering these services. You need to register on the website and start working. You can spend one or two hours daily on PTC jobs and earn reasonable money.

#7 Affiliate Marketing

Affiliate Marketing is next in the list of best business ideas for students. Affiliate marketing means selling or promoting product or services of your associate companies and helping them to increase the sale. You will be paid commission for every sell. Most of the companies offer this type of program. Once you register as an affiliate you will get link and promotion material. You can share this material on Facebook, WhatsApp or via e-mail marketing and earn money.

#8 Freelancer

Freelancing is a business which demands specific skills. Some examples are website designing, graphic designing, software development, mobile app development, SEO etc. If you have knowledge and expertise in student age you can start this business. This business demand timely delivery of the project. Few website offering freelancer jobs are UpWork, Murk etc.

#9 Buying & Selling Things Online

One of the simplest forms of business for the student is buying and selling things online. You can either sell surplus products which you have or you can buy things from others at a low price and sell it online at a higher price. Make sure to select things carefully. This is to avoid physical inventory.

#10 Digital Marketing

Digital marketing is a new career option. Most of the company are looking for an online expert who can help them in marketing their products. Digital marketing includes multiple things such as search engine marketing, social media marketing, content marketing, email marketing etc. It is recommended to go through the digital marketing course before starting this business.

Also Read – Top 10 New Business Ideas for 2019

Offline & Part Time Business Ideas for Students

#11 Home Tuition

The first offline business idea for a student is Home Tuition. If you are a college student with good academic and interested to teach children, you can start home tuition business. In this business, you need to give tuition to small students at their home. You can give this tuition in part-time and earn money.

#12 Computer Repair

The second business idea is computer repair business. This idea requires knowledge of computer hardware. It is advisable to go through IT course such as Jetking or ITI before starting this business. You may plan to start an online website for getting good business. Initially, you can do service call later stage you can plan to sell IT hardware also.

#13 DJ Services

DJ Services is a very popular business idea for students. If you are a music lover with full of creativity you can think of starting DJ services business. You need to invest money on CD Player, Turnable, Mixtures, and speaker to start this business.

#14 Computer Training

Next Business idea for the student is computer Training. Basic Computer Knowledge is becoming mandatory in every field. If you are a college student with IT skills and knowledge about computer, you can start a computer training business. You can start this business from home also. You need a few old computers to start with.

#15 Insurance Agency

Insurance Agency is one of the best part-time business ideas for the student. In this business, you need to sell insurance policies. You will earn commission on every policy. You should have good communication skill and convincing power to become successful in this business.

#16 MLM Network Marketing

MLM or Network Marketing business is next in the list of best business ideas for students. You need to work hard to get success in this business. In this business, you need to sell the product and services of an associated company. You will get commission income from your sale as well as from your team.

#17 Local Tour Guide

A Local tour guide is location specific business. If you are living or studying at the travel location this business is for you. In this business, you need to act as travel guide. You should be aware of geographical location and history about space to become local tour guide.

#18 Account & Record Keeping

Account & Record keeping is another very good business idea. If you have knowledge and expertise about finance software you can start account and recordkeeping business. In this business, you need to keep records of all financial business transactions. You can get fixed money for this. You may require special training before starting this business.

#19 House Cleaning Services

Cleaning service at home is another very good business option. This business requires management of unskilled manpower. If you have expertise in manpower and contract management, you can start this business. You will need cleaning kit and vacuum cleaner for starting this business.

#20 Home Repair Services

Another business idea related to house is home repairing services. Every house demand repairing, thus starting house repairing could be very good business option. You need to mange team expert in various area such as civil, plumbing, electrical etc.

Takeaway

As you can see there are many business opportunities for college students. You should select a business opportunity based on your expertise and skill set. In addition to skillset, you should also look at the daily time required by this business. Make sure that your business should become a hurdle in your study.

EPF UAN Correction – How to update Name, Birth Date Online in UAN?

Personal Finance

Shitanshu Kapadia

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April 5, 2019

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EPF UAN Correction – How to update Name, Birth Date Online in UAN?

epfo

You can correct/update your name, date of birth (dob) and gender online on the UAN portal. This process is known as EPF UAN Correction. If you try to link your Aadhaar with your UAN and unable to do that because of mismatch in name, date of birth or gender in UAN data, you can use UAN portal to update these details. Let’s look at process of correcting name, birthdate or gender on UAN portal as per Aadhaar. This process will work only if your Aadhaar is not linked with UAN. If you are Aadhaar is linked with UAN you cannot update/correct these details online.

EPF UAN Correction Process

To correct EPF UAN data employee need to raise online request by logging into UAN Portal. The submitted request will be forwarded to Employer. Employer can approve or reject the request online. If the employer approves the request it will be sent to EPFO office where officer will approve or reject the request.

The timeline for approving or rejecting request submitted online is not known. If your Aadhaar is linked with UAN you cannot use online method for correction. In this case, you need to use offline method of filing manual form to EPFO.

Also Read – How to update KYC EPF UAN Online?

How to update Name, Birth Date & Gender Online in UAN?

Step by step method of correcting name, birth date & gender online in UAN is given below. The process given below needs to be done by Employee.

Employee Entering request for UAN correction on Portal

First step is Login to Member Interface of Unified Member Portal using your UAN and Password. You can get UAN number from your employer. If your UAN is not activated you need to activate your UAN first.
On login you will be able to see navigation bar. Click on Manage> Basic Details.

modify basic details UAN

You need to provide correct details as per Aadhaar UIDAI. This data will be compared with UIDAI database.
On clicking Update Details, the request will be submitted to the employer for further approval.
Alternative way to update basic detail is by visiting profile. You can visit Profile by View> PROFILE.

You will be able to see following screen which will allow you to change name, date of birth, gender, mobile number, email address, qualification and marital status.
If you give request for name, birth date or gender change, this request needs to be approved by employer. Once you submit the change request it will be automatically sent to employer for approval. The progress will be visible in the same section.
If you want to change email address, mobile number, marital status or qualification you can easily change that. This change does not require approval from employer. However, it requires OTP based authentication.
Once you click on request to change marital status, qualification or salutation, you will be asked required inputs. It will be drop down selection based. Once you change this detail you need to click on Get Authorization Pin.
On clicking Get Authorization Pin you will see confirmation popup box asking about confirming change. On clicking Yes button, you will receive OTP on registered mobile number. You need to enter OTP and press save changes.

Confirm EPF UAN Details

Changes will be saved successfully.

Employer approving or rejecting the request

Once you submit the request online your employer will have to approve or reject the request online. Once request will be approved it will be forwarded to EPFO office for final approval. The step followed by employer are given below.

The employer will log in to Employer Interface of Unified Portal.
Employer can view the change requests submitted by employees by clicking on Member>Details Change Request
The employer can approve or reject the request.
If the employer approves the request will be transferred to EPFO field office.

EPFO approving or rejecting the request

In the EPFO office, the Dealing Hand will submit his recommendations, Recommended for Approval or Recommended for Rejection with proper remarks, online in the Field Office Interface of Unified Portal.
This request will then be verified by Section Supervisor.
Finally, Assistant Provident Fund Commissioner(APFC)/Regional Provident Fund Commissioner (RPFC) can Approve/Reject the case.

Note – Above process is applicable only if UAN is not linked to Aadhaar. If UAN is already linked to Aaddhar you cannot change basic detail such as Name, Birth Date, Gender etc. In case you are required to change this detail you need to submit a joint request to the concerned EPFO field office for correction of above mentioned basic details.

For more information you can contact –
Helpdesk Number: 1800 118 005
Helpdesk Email Id: uanepf@epfindia.gov.in

Top 10 Highly Rated Direct Mutual Funds by Value Research Online

Stock Market

Shitanshu Kapadia

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April 3, 2019

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Top 10 Highly Rated Direct Mutual Funds by Value Research Online

Value Research online is an online website that offers unbiased investment advice, analysis and information about Mutual Funds, Stocks and fixed income investment options. Value Research online make use of sources such as expert opinion, fact sheet, and data available online. They study portfolio of Mutual Funds, check credentials of fund manager and history of the fund house before recommending mutual funds.

Value Research Online is popular for providing performance ranking to mutual funds. The rating provided by Value Research Online is also known as VRO Star Rating. In addition to star rating Value Research Online also provide risk grade and return grade. Highest rating given by value research is five stars. A five-star rating is given to mutual funds only when a team of value research is highly satisfied with fund performance & fund is likely to deliver better returns in the future. This is the primary reason people invest in five-star funds.

There are multiple types of mutual funds such as regular growth, regular dividend, ELSS, ETF, Direct Growth, Direct Dividend, and NFO. If you are Do Yourself Investor (DIY) and looking for a good fund for the investment you should look at Five Star rated Direct Mutual Funds by Value Research Online.

Also Read – Best Mutual Funds for Child Education in 2019

Direct Mutual Funds by Value Research Online

Large Cap Funds

#1 Axis Blue Chip Fund – Direct Growth

Fund Objective – The primary objective of this fund is to generate long term capital growth by investing in a diversified portfolio consisting of equity and equity related instruments of large-cap companies.

Why to Invest – Historically Axis Blue Chip Fund Direct Growth plan has given very good returns to the investor in the past. In the last five years, this fund has generated 15.68% returns. The expense ratio of this fund is very low. It is five star rated fund by VRO. Risk grade of this fund is low and Return grade is above average.

#2 ICICI Prudential Blue-Chip Fund – Direct Plan

Fund Objective – This fund aims to generate long term capital appreciation and income distribution to investors from a portfolio. This fund invests in equity and equity related instrument from large cap segment.

Why to Invest – ICICI Prudential Blue-Chip Fund has historically generated very good returns for the investors. Last five year returns of this fund is 15.39%. This fund is managed by an experienced fund manager. Risk grade of this fund is low & Return grade is above average.

Mid Cap Funds

#3 Kotak Emerging Equity Fund

Fund Objective – The scheme seeks to generate long-term capital appreciation from a portfolio of equity and equity-related securities, by investing predominantly in mid companies.

Why to Invest – Kotak Emerging Equity Fund has generated 19.07% return since launch. In last five years this fund has generated 23.86% returns (As on April 2019). The expense ratio of this fund is very low. Risk grade of this fund is below average and return grade is high. It is five star rated fund by value research online.

#4 L&T Mid Cap Fund – Direct Plan

Fund Objective – This fund generates capital appreciation by investing in mid cap stocks. The scheme invests in companies whose market capitalization between a highest and lowest constituent of Nifty Float Midcap 100 Index.

Why to Invest – This fund is managed by an experienced fund manager. The expense ratio of this fund is low. This fund has given very good return since last few years. Risk Grade of this fund is below average whereas Return grade is high. It is five star rated fund by the value research team.

Small Cap Funds

#5 HDFC Small Cap Fund – Direct Plan

Fund Objective – This fund aims to generate long term capital appreciation by investing in small cap companies.

Why to Invest – HDFC Small Cap Fund is five star rated fund. This fund is managed by highly reputed company. This fund has given very good returns to investors in the past. Risk grade of this fund is below average and return grade is above average.

Also Read –Top 20 Best Mutual Funds SIP to invest in India for 2019

#6 SBI Small Cap Fund – Direct Plan

Fund Objective – This fund invests mainly in a well-diversified basket of equity stocks of small cap companies with an aim to provide long term growth in capital.

Why to Invest – SBI Small Cap Fund is one of the highest return generating fund. This fund has generated 26.53% return since launch. It is five star rated fund. Risk grade of this fund is average and Return grade is high.

Multi Cap Funds

#7 Aditya Birla Sun Life Equity Fund – Direct Plan

Fund Objective – This fund aims to generate capital appreciation and regular income via 90% of investment in equities and 10% in debt and money market securities.

Why to Invest – This fund has generated very good returns in the past. The portfolio of this fund consists of various blue-chip stocks. It is managed by experienced fund manager. Risk grade of this fund is below average and Return grade is high.

#8 Axis Focused 25 Fund – Direct Plan

Fund Objective – This scheme seek to generate long term capital generation by investing in a concentrated portfolio of equity and equity related instruments up to 25 companies.

Why to Invest – Axis Focused 25 Fund is five star rated fund. This fund has generated magnificent returns to the investor in past. The expense ratio of this fund is very low. Top holding of this fund is blue chip companies. Risk grade of this fund is average and Return grade is above average.

ELSS Funds

#9 Aditya Birla Sun Life Tax Relief 96 – Direct Plan

Fund Objective – The scheme seeks long term capital growth and invest approximately 80% of its asset in equity, while the balance would be invested in debt.

Why to Invest – Aditya Birla Sun Life Tax Relief 96 is five star rated ELSS fund. This fund is managed by experience fund manager. This fund has generated very good returns in the past. Risk grade of this fund is below average and Return grade is high.

#10 Mirae Asset Tax Saver Fund

Fund Objective – This fund aims to generate long term capital appreciation from a diversified portfolio of equity and equity related instruments.

Why to Invest – Mirae Asset Tax Saver Fund is one of the best funds with five star rating. This fund is a newly launched fund. However, this fund could generate 23.74% return in last three years. The expense ratio of this fund is low. This fund holds very good stocks. Risk grade of this fund is low & Return grade is high.

Summary of Top 10 Highly Rated Direct Mutual Funds for Value Research Online

value research online direct mutual funds

Over to you

Do you hold any of the Mutual funds given above?

What is your take on above Direct Mutual Funds?

Do share your views and queries in the comment section.

5 Digital Gold Purchase Options – How to Buy Gold Online?

Gold Silver

Shitanshu Kapadia

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March 29, 2019

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Digital Gold

Digital Gold – Gold has always been a symbol of wealth and security in India. Traditionally, people bought gold in physical form, but now, with digital transformation, purchasing gold online has become easier, safer, and more convenient. Digital is a smart way of investing in gold. There are multiple options and apps available online to buy gold. If you are planning to invest in the gold, you should consider Digital Gold. In this post, I will share details about Digital Gold and various options for buying Digital Gold.

What is Digital Gold?

Digital Gold as the name indicates is virtual gold or e-gold. You can purchase digital gold online. It is the fastest, most secure, and most convenient way to invest in 24K gold online. The gold purchased online using this way is backed by an equivalent physical gold. The rate is linked with market rates. You can buy, sell, and accumulate pure gold in a fraction denomination using this method anytime, anywhere. The amount invested, and the volume of gold are visible online in the user account.

Also Read – 10 Things to check before buying Gold

Why Invest in Digital Gold?

A few reasons for preferring digital gold over physical gold are given below.

Zero Making Charges – When you purchase physical gold, you opt for jewelry. You need to pay making charges for jewelry. The making charges are 6 to 14%. You need not pay any making charges while buying a digital gold.

Pure Gold – Your purchase in digital gold is backed by equivalent physical gold with a purity of 24K 99.5% purity.

No Storage hassles – Physical gold requires storage. It may require a locker arrangement in the bank. However, when it comes to digital gold, you need not worry about storage.

Easy Trading – It is very difficult to do trading in physical gold. However, you can easily buy and sell digital gold online with a click of a button.

Converting Gold to Cash – You can easily sell this type of Gold Online and convert it into cash. Once gold is sold the entire amount will be transferred to your registered bank account in a few hours. But to liquidate physical gold you need to visit the seller’s place.

5 Digital Gold Purchase Options – How to Buy Gold Online?

Here are 5 Digital Gold Purchase Options in no particular order.

1. Paytm Digital Gold

What is Paytm Digital Gold?

Paytm, in partnership with MMTC-PAMP, offers a secure way to buy and sell digital gold through its app.

Why Choose Paytm Digital Gold?

Buy gold for as low as Rs. 1.
Option to convert digital gold into physical gold coins or bars.
Stored in insured vaults.
Easy to sell gold anytime at live market rates.

How to Buy?

Open the Paytm app.
Go to the “Gold” section.
Enter the amount or weight of gold you want to buy.
Complete the payment and your digital gold is added to your account.

2. Google Pay Digital Gold

What is Google Pay Digital Gold?

Google Pay collaborates with MMTC-PAMP to offer digital gold investment directly through its app.

Why Choose Google Pay Digital Gold?

Backed by 24K gold stored in secured vaults.
Minimum investment as low as Rs. 1.
Seamless purchase and sale with real-time gold prices.

How to Buy?

Open Google Pay and navigate to the “Gold” section.
Enter the amount you want to invest.
Make the payment and your gold is securely stored.

3. PhonePe Digital Gold

What is PhonePe Digital Gold?

PhonePe, in partnership with SafeGold, allows users to buy, sell, and store gold securely.

Why Choose PhonePe Digital Gold?

Investment starts from just Rs. 1.
Buy and sell gold 24/7 at live market rates.
Gold stored in insured lockers with full security.

How to Buy?

Open the PhonePe app and tap on “Gold.”
Choose to buy in rupees or grams.
Complete the payment and your gold will be added to your digital vault.

4. SafeGold

What is SafeGold?

SafeGold is a trusted digital gold provider offering seamless transactions with transparent pricing.

Why Choose SafeGold?

Backed by 24K physical gold stored in secured vaults.
Option to convert digital gold into physical gold.
Provides gifting options and Gold SIP (Systematic Investment Plan).

How to Buy?

Visit SafeGold’s official website or partner apps (such as PhonePe).
Choose the amount of gold to buy.
Make the payment and receive your digital gold instantly.

5. MMTC-PAMP Digital Gold

What is MMTC-PAMP Digital Gold?

MMTC-PAMP is India’s leading digital gold provider, offering 24K gold with 99.99% purity.

Why Choose MMTC-PAMP?

Backed by India’s leading gold refinery.
One of the most trusted brands in the gold industry.
Gold stored in highly secure vaults.
Option to take physical delivery in the form of coins or bars.

How to Buy?

Visit MMTC-PAMP’s official website or partner platforms like Paytm and Google Pay.
Enter the desired gold quantity.
Make the payment and your gold is securely stored in a vault.

Important Points to Consider Before Investing in Digital Gold

A few Important points of consideration before investing in gold in the digital format are given below.

You should consider the reputation of the company offering the gold. The company should be reputed and should be backed by a strong financial background.
You should also check price tracking errors and accuracy.
Evaluate the company for the applicable storing charges & maximum time period allowed for storing gold.
Compare features offered by various providers.

Over to You

Digital gold is revolutionizing the way Indians invest in this precious metal. Whether you choose Paytm, Google Pay, PhonePe, SafeGold, or MMTC-PAMP, each platform offers a seamless and secure way to buy gold online. Always compare prices, fees, and redemption options before making your purchase.

So, what are you waiting for? Start your digital gold investment today and enjoy the convenience of buying and selling gold with just a few taps!

FAQs

1. Is digital gold a safe investment?

Yes, digital gold is a safe investment as it is backed by physical gold stored in secured vaults.

2. Can I convert digital gold into physical gold?

Yes, most platforms allow you to redeem digital gold for physical gold in the form of coins or bars.

3. Are there any hidden charges for buying digital gold?

Some platforms may charge transaction fees, storage fees, or taxes, so always check the terms before investing.

4. What is the minimum amount required to buy digital gold?

Most platforms allow you to start with as little as Rs. 1.

5. How is digital gold different from Gold ETFs or Sovereign Gold Bonds?

Digital gold is backed by physical gold, while Gold ETFs and Sovereign Gold Bonds are market instruments that track gold prices without physical backing.