Startups in India or booming at huge rates as the young graduates choose not to leave their home town or settle in metropolitan cities. According to research, Indian startups will expand up to four times by 2025.
Even our honourable prime minister, Narendra Modi encourages Indian startups and has brought several policies that took India a level up in ‘ ease of doing business’. “
India is very fortunate that 65% of its population is below the age of 35.
The necessity of skill development and human resource development here as well as on a global level produces great value.
Our prime Minister acknowledges the fact that human resource is highly important to support any kind of technological advancement.
let your dreams wait for none! Know how to establish a startup.
At the very beginning, a detailed business plan is to be created. It will help in generating funds.
Fix a structure for your company- the levels of Management, operations and other resources. Creating a financial model is the most important part
Investors are always interested to know about your profit plans.
Initially, for the first one to two years, it’s okay to not generate profits but the long term plan should be accurately predicted.
For the funding, one can apply for a small business loan application in the nearest bank branch and if rejected can go for the personal loan. There are several small banks or nbfc who can help out with the loans.
The National Association of Software and Services Companies ( NASSCOM) is an organisation that helps to promote different technological advancements of the country.
It conducts intense research on various startups and also in a report they stated that the first eight months of 2019- January to September there are seven successful startups developed and also there and other 52 companies lined up who have got huge investments India names those startups which are valued at 1 billion as potential unicorns.
Very proudly Nasscom said that last year there were only 15 potential unicorns while this year there are 52 ( more than 3 times).
Government Role – Startup India Scheme (2016)
This was set up to generate employment, economic development of the country and motivate the youth of India towards entrepreneurship.
Significant features are –
1) government allowed 3 years tax holiday
2) provided the fund of 2500 crores for startups.
3) approved credit guarantee of 500 crores.
Conditions to register under startup India –
1) It should be a private limited company
2) It must be a registered partnership firm
3) Works should be towards innovation and development.
4) Total turnover should be 25 crore rupees
5) The idea should be new, which add value for customers
6) A company should we knew or not older than 5 years.
7) The company should be approved by Industrial Policy and Promotion.
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