Today we look at how to start a waste recycling business waste represents electronic waste. Generally, the electronics items which we can reuse, recycle, resale or dispose of are other potential a-based items. These days, waste includes a wide rundown of materials. These days waste management is a big issue in both Developed and developing countries. This article will offer a quick overview of How to start an e-waste Waste Management Business in India.
Fundamental reasons for massive E-waste generation in India
IT sector has seen incredible growth across the globe over the past few years. This phenomenal growth has been fueled by an increase in the penetration of electronics into everyday items and consumers’ growing acceptance of electronic products. This increase in demand for electronics is also a reason for higher spending on product innovation and has led to a shorter life cycle of products. In the end, an immense quantity of electronic waste was generated over the last few years.
E-Waste management for electronic devices is an expression that has a lot of weight in today’s environment. Technology has simplified our lives to a great deal, but these products are not long-lasting – or because we like our latest shiny gadgets or due to the deliberate obsolescence of the makers. After their utility is served, the products are typically put in the trash and other garbage streams or offered to informal processors of electronic waste.
How e-waste can serve as an opportunity for businesses?
- Electronic waste is one of the top pollution sources around the globe. It is undisputed that e-waste poses an environmental threat. It also gives entrepreneurs willing to take on the risk an excellent opportunity to establish their own business in e-waste management. India is among the top producers of electronic waste, which creates a significant potential for business opportunities in e-waste management.
- Not all e-wastes are trash, as some portion of them remains usable for years. This serviceable portion can be extracted and mobilized to OEMs and certified refurbishers as a raw material. Thus, businesses seeking to pinpoint business opportunities in e-waste can start a dismantler facility and serve these industries for years to come.
- Being a recycling facility is another business opportunity that lies within e-waste. E-waste recyclers can use e-waste and turn them into various serviceable parts.
- E-waste stock keeping is another viable business opportunity that is sustainable and growth-oriented. There is a great demand for e-waste, especially in refurbishing and recycling regimes.
How to start an E-waste Management Business in India?
There are plenty of profits that can be made from the e-waste management business in India. A well-constructed and well-organized strategy can help make the business process profitable in no time. However, notable investment in capital is required to start an E-waste Management business. Initially, all you need to do is to put in funds to acquire a license. Additionally, you’ll require an area for dumping and a location to operate your business.
Starting an E-waste Management Business, requires various equipment and instruments. Also, you have to find skilled and knowledgeable employees. Additionally, you have to manage the daily operations, public relations, and other expenses.
Let’s look at how you can start an E-waste management business in India with these easy steps.
1.) Choose the appropriate kind of waste you’d like to use in the business
As we all know, waste can be found in many forms and in a huge array. Being able to handle all types of waste in one go can be a hassle and time-consuming. To ensure a rapid beginning and expansion, it’s important to choose a single type of waste and then move on to the next. The golden rule of business growth is that you should always begin with a single product, then make it a brand, and proceed to pick the next step with a brand-new product. The same is applicable for businesses that operate without waste. Select a single category and establish a solid foundation within that one.
A question that may pop up in your head: what are the different types of waste management that are available in India?
The first thing you need to do as an owner is to identify the kinds of waste that are available in your area. It could be in the form of-
- construction waste,
- Agricultural waste,
- Industrial waste, medical waste, etc.
After identifying the various types of waste, you must conduct exhaustive research to reduce it to a specific amount to the cost and perishability and amount. The waste that is adequate in amount and whose price is low is the first one to focus on. Since choosing the lowest cost-effective waste can be beneficial, leading to cost efficiency.
2.) Knowing the specific trash is the only way to know:
Once you have pinpointed your search to a specific product, attempt to acquire all information regarding that product, visit landfills and scrap yards or get in touch with small business owners who can provide you with the details and more information about your product. The general idea is to analyze every particular about your product before taking it to market. You can also check out the digital address of numerous online scrap buyers and sellers and check out what they offer and how they operate.
3.) A thorough market research
Get a solid understanding and knowledge of the industry of waste management. Because the variety of waste produced by the country can leave you confused, and this will surely hinder your choice making.
4.) Process of creating the business plan
It is vital to develop a plan of action for your company. Without a business plan, nobody has ever been successful. Take a moment and start planning a session to determine the best time, place, and method you’d like to move into action to ensure an effective boost to your business. You could take on transportation, recycling, or collection of the specific scrap. To do this, you must get to know more people to better understand this industry. Find and highlight the strategies being discussed and make notes of what they’re suggesting. If you’re an entrepreneur, your curiosity about your business will help in this scenario.
Types of E-waste Management Business
Here are a few types of waste management sectors that you could take on
1.) Management of electronic waste
E-waste management is the term used to describe electrical equipment disposed of in the form of waste to be disposed of by the large-scale consumers and the products that are not used in manufacturing, refurbishment, or repair procedures.
Each manufacturer, producer, refurbisher, dismantler, or recycler of electronic and electrical equipment must be registered with the Pollution Control Committee of the region of the union that is concerned.
2.) Management of medical waste
The term”medical waste” refers to the entire range of waste generated in healthcare or diagnostic actions. Waste similar to household waste could be put through the same recycling and treatment process as a municipal waste of the community. The remaining 10-25 % is known as Toxic medical waste.
This type of waste can pose health dangers. The process of disposing of medical waste can be somewhat difficult as you must reach out to each Healthcare service provider directly and engage with them. Additionally, the disposal of hazardous wastes can be accomplished only by a person who has the appropriate certificate.
Green waste management
We know that the two primary and broad categories of waste are made up of Biodegradable and non-biodegradable. Non-biodegradable waste refers to the type of waste that cannot be recycled any longer, while biodegradable waste is that which is recyclable and, if properly treated, can be reused. Thus, the green approach to waste management involves the management of biodegradable waste, such as organic matter, paper food and human wastes, etc.
The other group of people who create environmentally friendly products using materials that is not environmentally harmful can be considered to be green disposal.
Details required for E-waste management Business
To start obtaining all the required certifications and documentation, you require to operate a business. In order to run your business, you will require
In the case of Proprietary Business-
- Applicant Details along with the address proof.
- GST Certificate.
- Rent Agreement of the premise or NOC
- Trade License
- Plan Layout
In case of a company-
of incorporation and a
- Corporate PAN card, TIN numbers, GSTIN etc.
- MOA and AOA
- Authorized Signatory
To obtain these types of certificates, you need to connect with the appropriate authorities who can assist you with these formalities.
E-waste Management Business – Licenses & Permissions
Various government permissions and licenses are needed to start an e-waste management business. The extended specifications can vary from state to state. However, the basic specifications, however, remain the same across states. Here are the common steps you need to follow for your e-waste management business:
- To start the E-waste Management business and to get the MSME status, Register at the Udyog Aadhaar.
- Go to the State Pollution Control Board and request permission to start an e-waste management business. For the same, you are required to furnish requisite statutory documents.
- Also, you need the necessary approval from the Ministry of the Environment.
In view of above, we can say there are plenty of items items to be planned and implemented to start the e-waste management business in India. This includes staffing, location of transportation vehicles, machines, commercial insurance, and business promotion. The business of managing waste is extremely capital-intensive and requires a lot of initial capital. Additionally, you will have to deal with big institutions, and some may take a longer duration to repay for the work you have already completed.
Read our Article:An Overview on E-waste Management Techniques in India