A recent state GDP report published by the Uttar Pradesh government reflects that Noida has registered a 10.12% contribution to the state’s GDP.
The rise of Noida as one of the prominent business and industrial hubs of the country is striking. In the last two decades, this planned city in the outskirts of the national capital has attracted a large number of investors owing to its superior infrastructure.
Additionally, Noida is also a special economic zone, which means the ease of doing business here is sublime. Entrepreneurs can also easily avail a business loan in Noida to set-up or expand their companies.
Advantages and benefits of doing business in Noida
- Skilled workforce
Availability of experienced and well-trained workforce is a significant advantage of doing business in Noida.
Being close to Delhi, finding labour here is not difficult. Moreover, the presence of eminent universities and colleges in the national capital makes it easier to find well-trained individuals.
Investors planning to set-up any businesses here need not worry about finding labour. They can arrange their funding for recruitment via a business loan in Noida.
- Favourable government norms
The government offers favourable terms and conditions to those who invest in this city.
For instance, to increase the ease of doing business in Noida, the UP state government has started a single-window clearing system.
This system allows investors to secure the necessary permits for their business from one department.
Therefore, they can save time and money and focus on their investments. Such favourable government norms help companies to grow their business.
- Exceptional connectivity
Poor regional connectivity often proves a significant challenge for businesses as it hinders their supply chain.
However, Noida is devoid of such problems; it offers excellent connectivity with the rest of the country.
It is close to one of the busiest international airports, i.e. Indira Gandhi International Airport and a well-connected road and railway network.
Furthermore, such functional connectivity allows businesses in Noida to pull labour from neighbouring states, which eases the supply chain.
- Excellent infrastructure
The UP government has invested in developing the infrastructure of Noida to attract more investments. Besides, the proximity to Delhi also helps in the development of this region. Basic requirements for a business, i.e. land, water and power are readily available here. Additionally, the electricity issues of this city have largely been resolved.
- Renowned start-up ecosystem
According to NASSCOM, India is the third-largest base for tech start-ups in the world. Furthermore, the lion’s share of such ventures has originated from Noida and Delhi NCR region. Therefore, it is easy for any individual to start a company in this existing ecosystem.
Moreover, access to already existing markets makes it easy for organisations to operate. They can also avail easy credit in the form of a business loan in Noida to support their venture.
Benefits of business loans
These loans, in general, offer several benefits and keeps a business financially healthy. Some of the prominent ones are –
- Probably the most significant advantage of business loan is that it has no end-use restrictions. It means borrowers can invest this money in any aspect of their business as per the requirements.
- These loans are easy to access. Financial institutions are offering such credit without online any hassles.
- Business loan interest ratesare also very competitive, making repayments more manageable.
Therefore, individuals planning to avail a Business Loan can apply with NBFCs like Bajaj Finserv. The company offers these loans at favourable terms. Upon fulfilling the eligibility criteria, borrowers can avail up to Rs.30 lakh.
Noida is an ideal space for ambitious businesspersons to begin their journey. It has the needed facilities and the perfect environment for a small business to grow. Additionally, accessibility to business loans in Noida can fuel this growth further.