EXPLORE THE MULTI-FACETED WORLD OF INDUSTRIAL ESTATES

Laying the foundations of an upcoming business is definitely challenging. Hence, when one decides to invest on an industrial land for business, squeezing out a gold mine of information on the profitability an industrial estate can provide the investor is paramount. The following information attempts to shed light on the plenitude of perks an industrial estate offers to an aspiring entrepreneur.

Before we get to the crux of the matter, let’s get a grasp of how an industrial estate works.

Amidst the plethora of resources nature offers us, a soil-rich land is one of the most significant resources. As we know, land is demarcated on the citizens’ residential, commercial and industrial requirements. So, what exactly is an industrial estate? Well, knit together in simple terms, it is a part of the city’s land zoned and planned for industrial use. Industrial estates are equipped with a perfect blend of transportation, supply, manufacturing and production.

The government of India has played a major role in booming industrialization, especially after it launched the programme of setting up industrial estates in 1955. Ever since, most industrial estates (private and governmental) have a common objective; to provide the necessary infrastructure for coherent industrial development of various units.

From the above, there’s no denying that industrial estates certainly provide a favourable environment for businesses to flourish. Hence, without further ado, let’s buckle down to the various benefits industrial estates offer us.

• The economic paradise of agglomeration

  Ever compared between a business set up amidst a group of various other units and a business set up far away from other units? Well, try to consider this question at times, as the former is definitely more beneficial. An industrial land is usually sub-divided into many plots for multiple units to co-exist and this wonderful idea results in the agglomeration of skilled labour and maintenance facilities. Setting up your manufacturing business on an industrial land certainly gives you the upper hand when it comes to limited production costs. Besides, the inter-relation between various units may result in the sharing of raw materials, eventually cutting down transportation costs as well.

• Booming industrial estates result in developmental outskirts

  A wise industrialist would set up an estate in the outskirts as they have more connectivity to rail road and freeways for hitch-free transport of vehicles carrying heavy goods. This in turn benefits the employment of the youth in the region. Besides, this also benefits the entrepreneur as one doesn’t have to expend their financial resources for the travel of their employees farther away from the respective location. Hence, overall, an industrial estate contributes to the regional development of the society.

• Wind down as you no longer have to worry about the perfect infrastructure

  Right from freeways, water and electricity facilities to the best postal and telecommunication facilities, an industrial estate attempts to provide all the significant amenities. Hence, entrepreneurs can begin to lay the first stone of their business without being worried about pouring money down the drain.

• The multi-faceted world of mutual co-operation

  Units set up in an industrial estate can adopt centralized buying and selling methods. As a result of this, they can also begin joint ventures and explore about upcoming markets. Besides this, as mentioned before, they can also source better quality materials with one another depending on their needs, resulting in reduced production and transportation costs.

• Diversity in all spectrums

  Isn’t it fascinating to know that an industrial estate can be set up in any location, either by the government, co-operatives or by private agencies? What’s more captivating is that industrial lands can also be set up under public-private partnerships. With the immense number of schemes and policy measures drafted by the government, a fledgling or an emerging entrepreneur has nothing to worry about when it comes to investing on an industrial land.

The above is palpably refreshing and great news for ambitious entrepreneurs. Regardless, it is always essential to delve into deep research and learn the ropes of the respective field when you’re on your way to break new ground. In the end of the day, knowledge is power.