Recycling Business Ideas: Best Profitable Ventures to Start

Key takeaways

• The amount of plastic waste has increased in the past few years because of an increase in the plastic production. 

• The business opportunities in plastic waste recycling is growing in the current global environment. 

• This is an ideal business opportunity for those who are interested in manufacturing and building long term growth. 

Bonus tip: 

Do you know? According to the research and study done by the Ministry of Housing and Urban Affairs of the Government of India, the amount of solid waste created in India every year is 1,45,000 metric tonnes. Out of this amount, 35% is dry waste.

There is plastic everywhere and so is the opportunity to turn waste into business. The recycling business has increased in the past few years because of the increase in plastic production. Industries and governments are compelled to recycle because of the difficulty in managing the plastic waste. 

The main factors which are behind the increased growth of recycling sectors are, more environmental awareness, strict regulations of plastic management and increased use of recycled plastic. In India and many other countries, the increased urbanisation and plastic use as well as government policies that support such practices, are contributing to the growth of this recycling industry. 

Reasons to start recycling business 

Starting a recycling  business is highly profitable. Below are some reasons to start a recycling business: 

These are some of the key reasons to start a recycling business in India. 

Best recycling business ideas 

There are many recycling business ideas in India  and some of them are as follows: 

These are some of the best recycling business ideas to start. There are many more like using plastic waste in road construction, recycling plastic waste into granules etc. you can start your recycling business with no money by focusing only on collecting,sorting and selling high value materials. You just have to focus on no money recycling business investment like scavenging, community drives or partnership with local businesses into this field. 

Key factors to consider before starting recycling business 

Refer the below key factors to consider before starting a recycling business: 

Location and infrastructure 

It is important that you select the correct transportation networks to ensure smooth productivity. Check if the location of your business has proper utilities like electricity, water and compliance with zone regulations. 

Investment and planning 

Prepare a detailed business plan to act upon. Look for different investment options like bank loans, government policies or schemes. 

Workforce and skills 

Hire highly skilled professionals with the correct expertise according to your business. Provide them training to have knowledge regarding the correct use of the equipment and machinery to recycle the waste. 

You have to keep yourself updated with the above factors before starting a recycling business.