The Start-up Trend in India boosting Country’s Economy to a New Level
This Year will bring a number of big changes to virtually every industry due to the coronavirus pandemic which has caused the businesses to shut down and has become a major major threat to people’s lives across the globe. Due to the (COVID-19) epidemic and unprecedented times, the entrepreneurs can do forward-thinking and can capitalize on major trends to launch new, successful businesses.
Being an Entrepreneur is not a child’s play as it requires willpower, leadership skills, determination, strength, and mental stability. One can only and only be an entrepreneur who has great and innovative ideas in his mind and if that person can make that idea into reality. Meanwhile, there are a lot of people in India who start a business but only a few are able to find success because they have the willpower and ability in them to make a difference and compete in the market.
What is a Start-Up: A startup is basically a young company established by one or two entrepreneurs to develop a unique and quirky product or services and bring it to market. The first and foremost challenge for a start-up is to prove the authenticity of the concept to its capable lenders and investors. Moreover, start-ups are always risky but potential investors have various approaches in determining their value. At the starting point, the start-up companies have little or no revenue coming in. They have an idea that they have to market, test, and develop. Though a vast majority of start-ups fail, some of the history’s most successful entrepreneurs created startups like McDonald’s (founded by Ray Kroc), Microsoft (founded by Bill gates), and Ford Motors (founded by Henry Ford) are very good examples of startup businesses in the globe.
Both external and internal factors put entrepreneurs in a situation when it is better to sell the business. In India, the competition is persistently rising and so does the stress from the political side which has made it difficult for entrepreneurs to carry out their operations the way they used to. No one can tell you when you should sell but if you know the time has come then you should go for it.
The Most Valuable Start-Ups in India 2020: In order to be successful, a start-up should be both sustainable and profitable that is it should generate decent profits and should also have the capacity to go on like a going concern. The most beneficial and profitable startups in India in 2020 are as follows: Ola Cabs, Zomato, Oyo rooms, Byju’s, Swiggy, Policy Bazaar, Delivery, Lenskart. Udaan and many more.