How to start a chit fund business plan

These small business ideas are suitable for individuals, college students, house-wives and retired seniors based on the time they can spend.

How to start a chit fund business plan

Chit funds in India are governed by various state or central laws. Organized chit fund schemes are required to register with the Registrar or Firms, Societies and Chits.

A Great Business Opportunity « The Standard

Kerala Chitties Act Tamil Nadu: Tamil Nadu Chit Funds Act, In North India, a common type of chit fund uses small paper slips with each member name, gathered in a box.

When all members are at a monthly or weekly meeting, the one in charge in front of the other members picks a slip from the box. Afterwards, that persons name slip is discarded. Special purpose funds some chit funds are conducted as a savings scheme for a specific purpose.

An example is the Deepavali sweets fund, which has a specific end date about a week before Deepavali. Neighborhood ladies pool their savings each week. They use this fund to buy and prepare sweets in bulk just before the Deepavali festival, and they distribute sweets to all members.

Preparation of Deepavali sweets may be a time consuming and costly activity for individuals. Such a chit reduces costs, and relieves members from extra work in a busy festival season.

Great Leadership

Nowadays, such special purpose chits are conducted by jeweler shops, kitchenware shops, etc. Online chit funds conduct auctions online and subscribers can pay their monthly dues and receive prize amount online through online transactions including electronic fund transfers.

Each member has an online account to manage their chit funds.Chit funds are rather popular among the artisans, shopkeepers and many such businessmen running small businesses.

how to start a chit fund business plan

It's also popular among other individuals as well, who would like to receive a. Shaw is talking about the business opportunities in decarbonizing the economy, not in sea level rise, Bill, and it is missing the point to suggest that when his focus on sea levels is prevention of flooding where possible, either through more dramatic action on climate change or through flood walls, levies, etc.

Chapter 3 – Types of Mutual funds. Mutual funds are designed in a way that they suit every investor’s need, it is like a melting pot of what every investor would desire. To start a business there are certain rules that must be heeded to.

how to start a chit fund business plan

When you plan on starting a business you must be sure about what you are dealing with, what you will be facing and how to . ''All that is necessary for the triumph of evil is that good men do nothing'' - Edmund Burke Welcome: S I E R R A H E R A L D. Vol 9 No 3: The tendency sometimes to protect perpetrators for the sake of peace doesn't help society.

CA Karan Batra, the founder of this website is a leading tax expert featured in both TV & Print also has vast experience of representing cases before the Tax Dept.

Stop Cutting Coupons and Start Saving! - Living on a Dime