We have been reading about the Startup stories every another day. Interest from Private Equity investors and media coverage has helped in booking startup environment in India. There are many incidences when top graduates have preferred their own business. In this article we will discuss reasons why is this the best time to start business in India.
Endless business opportunities in India
India is all set to become fastest growing economy in the World by overtaking China which is the fastest growing economy today. As per recent report of International Monetary Fund, India’s growth rate is expected to rise to 7.5 per cent, making it the fastest growing economy in the world. India has potential to grow at very fast pace in the years to come. The metro cities of India are well developed but there are thousands of medium and smaller towns which are under developed. Availability of skilled human resources and one of the youngest generations in the world makes India the first choice for foreign investors.
If we look at the retail e-commerce sales growth, it has grown from 2.3 billion US dollars in 2012 to 7.7 billion US dollars in 2015 with an estimate to reach at 17.5 billion US dollars in 2018. It we look at the statistics of e-commerce market in India and China, India’s e-commerce market is 80 times smaller than that of China. This clearly shows that there is huge untapped market in India. Foreign companies are investing billions of dollars in India knowing that there is massive demand of goods and services here.
Government is working to make it easy for the entrepreneurs to start new business. Our Prime Minister Narendra Modi is branding India at international level through #MakeInIndia campaign.
Recently a new form INC 29 was launched by the Government which helps to start Private Limited Company by filling up just one form. Starting a business is not as hard as it was few years back. India’s ranking for Ease of Starting Business published by World Bank has also improved considerably from 179th place out of 189 countries few years back to 158th rank in 2015.
Websites like MYeFILINGS.com have made it very simple for Entrepreneurs to start new business by providing information on its website. All the formalities of starting a business are completed at very affordable prices. A Private Limited Company can be registered at just Rs. 15999 and a Limited Liability Partnership can be registered at Rs. 7999 through MYeFILINGS. There are no hidden costs and the Entrepreneur gets best of the services through MYeFILINGS.
Facebook, the World’s biggest social networking site, said that it has 100 million users in India out of which 84 million accesses facebook through mobile phones. There are more than 243 million mobile phone users in India, more than USA and second only to China. Mobile phones have made communication with customers very easy. The startups can reach millions of mobile users just by one mobile advertisement.
Easy Finance options
Getting finance for business was a task few years back. You either needed to self-fund your startup or go to a bank for loan. Now there are so many different schemes and incentives given by Government. If you have a good idea, you can do crowd sourcing or get an independent investor, at reasonable terms. Private Equity funding in India in the year 2014 has surged over 17 percent with deals worth $11.49 billion (excluding real estate deals) as against $9.78 billion in 2013 led by e-commerce sector. Indian startups are attracting a lot of foreign investments. There are many Indian investors who have started to invest in the startups and it has made it even easier for Indian startups to find seed capital for starting new business.
Just few years back conservative Indian families preferred a secured employment over entrepreneurship. Things have started to change now. The startups are not only getting emotional support from the family but they help them financially too. Even potential husbands and wives have begin to consider startup as good way to begin their career.
So what are you waiting for? Start your business today! Visit MYeFILINGS.com