In these unprecented times as we are in with no certainity until how long the current pandemic situation shall lasts, people are looking out for ways to supplement their regular income stream. Also, others who have lost their job because of the pandemic are on the hunt for ways to mint money. Importantly as per the latest data, it is revealed that a huge number of GST registrations have been cancelled, which point to a slump in business activity. So if you too are facing some downfall in your business or want to supplement your regular income and have interest in stock markets, here are some of the business ideas to make money.
Become a Sub Broker
Many brokers give opportunities to become sub broker giving them minimal security deposits of Rs 50,000/- and paying one time Sebi Registration Fees of around Rs 8000/- including GST. The security deposited may be provided with interest benefits depending upon brokers terms and conditions given in the sub brokers contract.
Some other pre-requisites may be having office space to operate, computer desktops infrastructure, understanding of stock markets, internet or virtual private networks (VPNs).
In these pandemic times, online demat trading and number of accounts have risen sharply. People with high brokerage costs have themselves become sub brokers and enjoy sub broker commission as their cost savings measure. Brokers such as ICICI Securities, HDFC Securities, Axis Securities and Angel Broking provide such sub-brokership business opportunities.
Become a Mutual Fund Distributor
To become a mutual fund distributor one must be a qualified certificate holder from NISM(National Institute of Securities Market0 or NSE Academy. There are prescribed fees to be paid for registration as well as examination fees of these institutes. After paying such prescribed fees by the registrants they are required to qualify these certification programmes based on market understandings.
The successful participants then are required to register with AMFI (Association of Mutual Funds in India) and complete their KYC documentation with the organization with prescribed membership fees. After this the distributor shall enroll itself with other Mutual funds such as ICICI AMC, HDFC AMC, AB AMC, Fidelity MF, Sudaram Clayton Mutual fund and others.
Become a Research Analyst
Research Analyst in equities may require specific skill sets of handling database tools, understanding balance sheets of companies, technical analysis, writing skills for writing sell or buy recommendations.
Apart from having above mentioned skill sets a research analyst is required to be professionally qualified with sound mind and a person of good principles and ethics. A person shall be considered to be professionally qualified if he or she possess a professional qualification or postgraduate degree or postgraduate diploma in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science or a professional qualification by completing a Post Graduate Program in the Securities Market (Research Analysis) from NISM of a duration not less than one year or oou should be a graduate in any discipline with an experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management or NISM Certificate (Research Analyst XV).
With the professional qualification a person or an entity is required to submit its application with SEBI to act as an Independent Research Analyst. There is prescribed fees of Rs 5000 at initial registration and Rs 10000 after obtaining approval from SEBI. For getting registration completed one must comply all SEBI ( Research Analysts ) ( Amendments) Regulation,2021