The Plethora of Entrepreneurship in India (Rank Princess)

Gone are the days when people were happy with their 9 to 5 Jobs, pushing papers in monotony. With the onset of Start-up opportunities and leverages, it has become quite easy to float into one business and swing onto the other.
With increasing ease in running businesses, accompanied by encouraging government policies, the number of Small businesses in India (48 Million) is more than double of that of the USA (23 Million).
Let’s look at the breakdown of all industries in India:
Retail Sector (except motor vehicles)- 40%
Cloth Manufacturing Industry – 8.75%
Food & Beverage Industry – 7%
Service Industry – 6.2%
Auto (Maintenance, Repair & Sales)- 3.6%
Furniture Industry- 3.2%
Business in India
According to the World Bank’s “Doing Business 2016” Report, India has jumped to the 130th spot, from the 142nd position it held in 2014. It takes about 12 procedures and 29 days to begin a venture in India. The ease of starting a business in India has got better over the years, with encouraging signs for the coming years.
Welcoming Policies
With India becoming the land of rising entrepreneurship, there are encouraging policies put in place to help kick-start the career-path of entrepreneurs.
Start-Up India
Aimed at the promotion of banking finances and to boost start-up ventures, this campaign deals with the following:
• 10,000 crore Funding
• Fee for registration of patents trimmed by 80%
• To ensure a 90-day exit window, modified Code for bankruptcy
• Capital Gain Tax Freedom for three years
• Tax in profits Freedom for three years
• Self-certification compliance
• Single Window Clearance even with the help of a mobile application
Stand-Up India
Like Start-Up India, Stand-Up India is a campaign designed to encourage women entrepreneurs and start-up ventures amongst SC, ST communities. The campaign is intended to suit the needs and requirements of the entrepreneur and to aid them in an appropriate manner.
With similar key points as Start-Up India, this scheme has a few additional points as follows:
• Facilitation of bank loans repayable up to 7 years.
• The loan to be backed by credit guarantee scheme for which the settler will be the DFS (Department of Financial Services) and the operating agency will be in the hands of the National Credit Guarantee Trustee Company Ltd.
• Up to 25% Margin money for composite loan
Opportunities and Challenges of Starting Business in India
Opportunities
The Demographics
India has the largest concentration of young population (10-24 year-olds) despite having a lower population than China. Youth provides the right skill set for creating, working and innovating. It’s the capabilities of the youth that drive a nation towards a bright future.
Rise in Mobile Penetration
The Tele-Density of India has reached 76.55%, with a subscription base of 95.76 crores according to TRAI’s 2016 reports.
High mobile penetration is a sign of greater efficiency and an optimistic economy with rising disposable income.
Challenges
Every coin has two sides; with its promising opportunities, the Indian market poses a few challenges as well:
Policies
Even after a few promising policies, India still ranks at 130 out of 189 economies for the ease of doing business. It takes about 29 days to start a business in India which is quite a lot in comparison with OECD countries that only take nine days for such start-ups.
Skilled Manpower
It is often difficult to find skilled or semi-skilled employees for the job at hand. Often there are not enough resources for the skill set required by a start-up when compared to larger companies.
The Take-Away
While India poses some challenges in starting a new business, it is also a land of opportunities. With welcoming policies and an optimistic economy, India is undoubtedly emerging as a future hub for Start-Ups and Entrepreneurs.

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Those Who Dare: Exciting Entrepreneurs in India and the Government That Needs to Help Them(Rank Princess – SEO)

India’s growth is predicted to be exciting. In 2015, Business Today in India reported that India has more than 48 million small businesses. This was more than twice that of USA’s 23 million small businesses. The medium, small and micro-enterprises sector in India provide employment to over 80 million people.
Small, medium and micro enterprises, through more than 6,000 products contribute 8% of GDP, 45% of the total manufacturing output and 40% of the exports from the country. Entrepreneurs fall into this category and will be a major catalyst for positive change and growth in the industry across the country.
Over 65 percent of this country is below 35 years of age. As one of the youngest countries in the world, our youth are getting used to having to make more space for themselves.
The current generation of youngsters doesn’t want to be job seekers. The youth wants to be job creators—Narendra Modi, PM
Success Stories
India has many entrepreneurship success stories to draw on to inspire new generations, but the most inspiring success stories are those of this generation of India’s up-and-coming entrepreneurs.
Flipkart, India’s big home-grown e-commerce website was started by Sachin and Binny Bansal as an online bookstore with only Rs. 40000 as capital.
Vijay Shekhar Sharma, the creator of PayTM, was another entrepreneur who started with nothing. Once he had succeeded, he gave away 4 % of his equity to his team, showing loyalty.
Start-Up India
The Prime Minister’s 2016 announcement that he intended to promote startup culture in India has come none too soon. The Action Plan has three sections:
• Simplification and Handholding
• Funding Support and Incentives
• Industry-Academia Partnership and Incubation
The government’s efforts are marked by a multi-pronged strategy that will reduce bureaucratic measures that are time-consuming and complicated, and provide valuable knowledge and mentorship to clever young people who need a bit of help.
Our dedication is tough, and our slogan is to substitute Red Tape with Red Carpet– Narendra Modi, PM
Many entrepreneurs in India have responded positively to the PM’s actions.
I think PM Modi put a step further in sustaining start-ups in India in a way that I have not witnessed in the world today.—Adam Neumann, CEO of WeWork
What PM Modi has done for the start-ups is commendable and will go a long way in boosting the start-up eco-system in the country. India ranks 3rd in tech start-ups and 5th in all start-ups globally. This will positively pull up points for us. We can expect to be in the 2nd place in a year. —Rajat Tendon, VP, 10,000 Start-ups, NASSCOM
What’s the 411?
Major events during 2016’s Global Entrepreneurship Week have shown that India’s entrepreneurship ambitions are making its presence felt globally. India was announced as the next destination for the annual Global Entrepreneurship Summit.
Recognising the importance of enabling and fostering the environment for empowering entrepreneurs and innovation, the United States welcomes India’s hosting of the 2017 GES—Press Statement, White House.
Startup Ashoka saw over 100 students present and pitch their ideas, and learn practical and skilled decision-making from each other.
The ThinkBig conference brought together over 2000 women entrepreneurs in an event hosted by WeConnect and the Karnataka government. Indian female entrepreneurs lag behind woefully: only 14 per cent of India’s business establishments are run by women, but this is a hopeful sign.
Government Needs to Help
Entrepreneurship may dream big, but it starts small. This is typically not a bad thing, as we have seen in the past: those who succeed, succeed big. However, as the government itself has already realised, with the high capital costs of setting up a business today, even the most innovative and brave young people could do with a little help.
With training and other help from the government, losses can be kept to a minimum, and more and more success stories can be expected. With the amazing things our people have done without backing, imagine what they will do with help!

LSI Keywords: India has many entrepreneurship success stories, startup culture in India, entrepreneur who started with nothing, India’s up-and-coming entrepreneurs, Indian female entrepreneurs lag

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Entrepreneurship- The Need Of The Hour(Rank Princess – SEO)

Decades back, people were not very interested in leaving a handsomely paying job to apply their expertise and skills in ideas to set up a new business. Entrepreneurship was not given much importance.

However, the current scenario is totally different. Young minds are willing to experiment. Currently, many young entrepreneurs have chosen to start new businesses and spread the wave of entrepreneurship in the nation.

The resulting entrepreneurial character has led to massive innovation. Moreover, with the high involvement of government in startups and small and medium-sized (SMEs) businesses, the spirit of entrepreneur-driven innovation is great

At present, India is considered to be a hub of startups, having around 3100 startups and is closely behind the UK with 4000 start-ups.

Fitch Ratings, a credit research rating agency, revealed that such progressive insights have positively impacted the young generation of the nation. The young minds want to start their ventures. They have been motivated to decline their high-paying jobs offered by large multinational companies and start their own firm.

It has been speculated that India will have to roughly create 10 million jobs a year for the 300 million people aspiring to join India’s workforce in the next 20 years. The numbers are quite daunting; however, the government will have to incubate the culture of entrepreneurship in the society.

In other developed countries like the US, Germany, France, the UK, Japan, etc. small businesses have flourished, which generates employment locally and globally.

It all lies in the root that is education. The society will have to create a mindset of training the young generation to showcase their talent which could transform an idea into a business opportunity.

Creating young leaders

India has the highest population between the age group of 15 to 65. It goes to show that it is a country loaded with talent. Also, many Indian-born talented minds are doing some outstanding jobs in world renowned companies like Google, Microsoft, Reckitt Benckiser, etc. It has proven that the local talent can be groomed into brilliant leaders.

The need of the hour is opportunities, exposure, and the infra. Young entrepreneurs must be given opportunities for overseas exposure for hands-on training so that they can implement same in the country to create successful businesses.

Exposure to successful business idols will boost their confidence and motivate them towards the culture of entrepreneurship.

The government of India will have a significant role to play in the entire process. India is by far not a tax friendly country. Therefore, leveraging tax incentives to investors will improve their sentiments, and the country will have more funds in fluxing.  Having said the above, the central government is rigorously promoting the startup culture by implementing various programs and revising laws and regulations.

Also, the following parameters have to be worked upon to achieve an investor friendly environment.

  • Starting a new business
  • Protecting investors
  • Getting credit from the market
  • Dealing with construction permits, reducing bottlenecks, and quick project clearance
  • Settling insolvency by getting the arbitrary into the picture
  • Getting electricity Registering property (must need)
  • Paying taxes and creating a tax-free investor environment.
  • Trading across borders Enforcing Contracts- International business

Train to Think Differently And Creatively

Getting new talents on board with all the skill sets remains a challenge for most startups. Firms can employ onsite training programs which will cost them less and would be efficient.

Training the potential young minds will not just help organisations to achieve success but also garner future leaders. Critical and creative thinking will contribute to attaining the expected results. 

LSI Keywords- Creating young leaders, entrepreneurship in India, startups in India

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Startups: Creation of Cultural Diversity(Rank Princess – SEO)

A startup is nothing but a newly established business that has grown. With this new age of startups, a culture of diversity sometimes becomes an issue. Usually, there aren’t many women entrepreneurs spoken for or Black/Latino ones either.

These are just a few of the myths we are going to break today.

Why do we need Diversity?

Diversity in the workplace is something that gives a company an edge over its competitors. A more diverse workforce can more efficiently tackle the diversity in the product range, as well as, the marketing approach.

It also becomes easier to hire the best minds in the field, when you are not biased about one or more cultures or societal groups. That way, you get to widen your baseline for employees, even as you pick out the “crème-de-la-crème.”

 Diversity among Consumers:

When the startups focus more on what the consumers want and less on what they would prefer for themselves, only then can they increase their consumer base. Sticking to societal and culture-based biases or prejudices is not healthy for any company in its initial stages. So basically,

  • Consumers come from a lot of cultures.
  • Startups cannot afford to be too choosy regarding their customers.
  • The risks of building a business are already high. Ruling out consumers by culture will only result in a lower bottom line.

Collaboration:

We all know that when people from different cultures come in together, there occurs some level of integration and association among them. What we overlook is how these people notice their diversities and acknowledge them. This not only helps the participants to appreciate diversity but also work with them in diverse ways.

This kind of collaboration begins to lead to a chain of ideas and different thoughts that can add up to a very interesting scenario.

Maintaining Individuality:

You can only truly understand the “culture of diversity” when the workforce, as well as, the consumer-base insists on maintaining their individuality regarding ideas, opinions, tastes and preferences. This may involve:

  • Specialised workforce, such as an “all women” group.
  • Certain specific consumer-oriented approaches that may appeal to a few cultures specifically.
  • A startup tries to advertise the same product to different cultural groups in different manners.
  • A diverse working population, brainstorming ideas and creative approaches, based on their culture or societal values.

This way, companies can maintain their originality and individuality not only regarding their products but also to the satisfaction of the different tastes and preferences of their customers.

Approach Backed by Data:

This approach is backed by data. Research and studies have shown that companies with a diverse board of public marketing and management have a 95% higher success and popularity rate.

Entrepreneurs are assured more by numbers, than by word-of-mouth. So when observations show that a diverse cultural workforce brings in a higher rate of profits, it is difficult not to opt for it.

Going Global:

An integrated and inclusive approach to the different cultures out there is a plus. When you have even a small group of people working in your company, they are bound to come up with a varied set of ideas for marketing, production, and campaigning.

This can only help you when it comes to increasing your customer base. With more and more diverse campaigns, it becomes possible to attract more people towards your product.

Keeping the company’s core values straight is profitable to diversify the workforce and the customer base. This just keeps bringing in higher profits and increases the sale of products and services.

LSI Keywords: Customer-base, campaigning, diversification, diverse cultures, culture of diversity, maintaining individuality, integration, collaboration

Reference Links:

https://quip.com/7GSaAovqAPEh

http://www.investopedia.com/ask/answers/12/what-is-a-startup.asp

https://www.peoplematters.in/article/diversity/how-organizations-can-facilitate-childcare-support-13861

Why Diversity is Good for Tech Startups Aiming for Global, and How Buffer Nailed It

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Was 2016 the year to make or break Indian startups? (Content Strategi – SEO)

India has experienced a boom in new emerging startups in the past few years. This year, 2016 has been different, though. So is India’s startup bubble about to burst?

First the bad news

Despite being the worlds 3rd largest ecosystem for the startup industry, India has seen a massive fall in investment in new startups. Compared to the same period in 2015, investment decreased a staggering 40% in the first half of 2016, to the tune of $2.1 billion. This fall in investment has impacted startups and new businesses in one of two ways:job losses and sadly the closing of some.

In July this year, Flipkart showed 700 of its employees the door, following in the footsteps of Snapdeal, Zomato, Grofers, Housing, TinyOwl and others who have also been forced to lose staff due to financial difficulties or failure to meet forecast goals.

Unfortunately, for some companies and startups, job cuts were not enough, and 2016 has been witness to the folding of some big players in the startup industry; including Peppertap, Amber Wellness, and Tooler, with many others set to follow suit.

Now here’s some good news for entrepreneurs

It’s not all bad news, though. This year saw the second year of the annual Startup India Rocks Competition –  A competition run by Scaales global group. The competition provides entrepreneurs with the opportunity to win prizes which range from mentorship, funding and corporate connections.

Last year’s event in Goa was so successful that the idea was expanded into the global market, now known as Startup Global Rocks.

Startup Global Rocks features:

  • Over 100 companies from more than 15 countries
  • More than 60 global investors
  • The involvement of at least 50 global media outlets
  • More than $2 million invested so far

Scaale global group are a company growth consultancy group with connections in over eight countries worldwide. The group has more than ten years of experience, connecting startups and small businesses with funding, corporate contacts and investors they require to grow their business.

So what’s the Government planning for startup companies?

In January of 2016, Prime Minister Narendra Modi presented the Startup India action plan, to a collection of startup founders.  The Startup India action plan is a 19-step plan that aims to put entrepreneurship and innovation at the forefront of the Indian economy, by relaxing policies and providing funding and training opportunities for the country’s entrepreneurs. Key players in the startup industry such as Girish Mathrubootham, founder of Indian startup Freshdesk, applauded the governments recognition of startups as legitimate businesses.

The Startup India action plan proposes many things from funding to tax breaks, training centres and easier company registration to name a few.

And with over 80k jobs being created by the startup industry alone in 2015, it’s hardly surprising that the Indian government wishes to bolster and aid the industry. However, many feel that the action plan doesn’t go far enough.

The Startup India action plan does lack a few things

As with most new government programs, there have been a few voices of discontent since the announcement made at Red Fort, Delhi in January. While many agree that the Startup India action plan will make life easier for new startups and investors, others feel the terms of the plan fall well short of what India’s startup industry needs.

Forbes India, highlighted some of the good, and not so good aspects of the Startup India action plan. The graphic depicted here enumerates the pros and cons of this plan.

img

Some blame the atrocious gender gap in India for India’s struggling startup industry, with only 10% of startup founders being female, compared to 37% in the US. While others, including Alok Goel, managing director at SAIF Partners, suggested that India’s old-fashioned laws and policies are to blame.

Nobody can deny, though, that this is a very exciting time in India to be launching a startup. It remains to be seen how far the newly launched plan is going to survive, though.

How are the startups shaping up in India?

In a new economic climate where innovation and entrepreneurship have been pushed to the forefront, India could see a real upsurge in the number of startups around, and this is of vital importance for a country like India.

The problem-solving minds of entrepreneurs are important in tackling some of Indias biggest problems such as health care and education. This is where Indian startups differ from those in the rest of the world. India is not exporting cheap labour like in bygone years; they are developing solutions for Indian people in India.

The government’s development of the Startup India action plan demonstrates that they are becoming increasingly aware of the importance of startups in India.  So, while the new policies may come too late for existing fledgeling startups, there may still be a few creases that need ironing out. Hopefully, we will see an increase in new ideas and innovations as a result.

What are the proposed Startup incubators

One of the biggest aspects of the government’s plan is the formation of Startup incubators, centres of excellence around the country where entrepreneurs and innovators can come together to share ideas.

With the sole purpose of helping new businesses grow, incubators are developing to be more industry specific in India so that startups can focus on the right areas. Assistance ranges from basic business etiquette and connecting startups with industry partners, to simply providing office space.

The future for Indian startups

With the Startup India action plan now in full swing, the government has proposed many options which should make setting up a startup easier. But it is important to remember that despite this investment, many of Indias top 200 startups choose to base their headquarters in countries such as Singapore and the US, in order to experience more business freedoms. So the next big question is, once we encourage all these new startups in India,  how do we get them to stay?

Primary Keyword: startups

LSI Keywords:

Variants: Indian startup, India’s startup industry, global startup, startup India rocks, startup India action plan

Antonyms/Synonyms: entrepreneurs, new business, businesses, investors, entrepreneurship, innovation, mentorship,

Sources:

http://qz.com/819873/the-one-word-that-sums-up-indias-startup-sector-in-2016-unimpressive/

https://yourstory.com/2016/07/funding-roundup-indian-startup-h1/

http://startupindia.rocks/

http://scaale.com/group/

http://startupindia.gov.in/actionplan.php

http://www.forbesindia.com/article/startup-india-2016/startup-india-action-plan-glass-halffull-yet-halfempty/42105/1

https://in.linkedin.com/in/girish1

https://freshdesk.com/

http://www.nasscom.in/startup-india-%E2%80%93-momentous-rise-indian-startup-ecosystem

http://timesofindia.indiatimes.com/trend-tracking/startup-layoffs-continue/articleshow/53465457.cms

http://www.forbesindia.com/article/startup-india-2016/everything-you-wanted-to-know-about-startup-india/42481/1

http://www.forbesindia.com/article/startup-india-2016/what-we-need-to-solve-indias-biggest-problems/42077/1

http://economictimes.indiatimes.com/small-biz/startups/government-certifies-20-companies-as-incubators-under-startup-india/articleshow/53201716.cms

http://www.topmba.com/blog/what-startup-incubator

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