There are no large-scale industries in Payyanur. Beedi sector is the main industry of Payyanur. Apart from the co-operative Dinette Beedi and the private sector Saddle Beedi ,some other private companies also have units here. There are a few small scale industries functioning at the mini industrial estate at Moorikkovval on the Payyanur- Annur Road. There is weaving society functioning in the co-operative sector at Payyanur Teru.
Fishing is another main point to mention.
Kavvayi is a major fishing centre of Kannur district. Large quantity of fish is being transported to other parts of the state from here apart from satisfying the local market. As in the other parts of Kerala, the co-operative sector is very strong and active in Payyanur also. There are a number of co-operatives with a good track record here. The Payyanur Co-op Stores has a wide range of operations.