Monday, June 6, 2016
Biggest Challenges for Starts-up in India
Start-up India program has made the journey from start up to success easier than it has ever been. However it must not suppose that curving a niche in the industry has come completely out of the valley of risks and challenges. After starting up a business, the company or organization has a long run to go. It is not possible to have desirable success without beating challenges. The only persons, who have skills and firm determination to take challenges, can come to it. In this article, the biggest challenges for start-up in India are to be discussed.
Sales and marketing is the first thing that becomes the first and foremost factor determining success and failure. No mater human recourses are available in every corner of India, but the skilled and trained faculties who can bring high performance to the marketing strategies are challenge to be found.
The weak venture investing system in India is one of the great challenges for entrepreneurs. Even those people, who have skills and smart mind, are frightened to be a part of this start-up in India. They are feared of not getting desirable success even after investing all what they have.
When India’s youth has to face numerous problems to survive their family, they hardly have sufficient money to invest in any start-up. They collect hard earned money during a long time span, they are always feared of investing it in new enterprises.
Long and complicated process of loan from financial institutes is a challenge for entrepreneurs when they consider the option of loan to meet their investment problems. Sometimes it is hard to fulfill the bank criteria to get loan. When an entrepreneur has to struggle for managing resources, marketing requirement and other requirement; at the same time he has to go through the long process to get financial help.
Corruption in India also creates challenges for entrepreneurs to start their business. It becomes the monster in the way of startups for entrepreneurs. When it is difficult to maintain all things required for the business; the unnecessarily pressure of red tape system discourages them.
In India where people are living in gossip-loving society, peer pressures are high. Entrepreneurs have to face criticism from the people around. As Indian love to stick to the traditions ways and they come with criticism when someone tries something different. Such problems generally come in the rural environment that is why people feel hard to maintain heir confidence level to make it up. They mostly lose their confidence not because of their failure, but the fear criticism.
Education system in India is also one of challenges for start ups. The students after getting educated are not sure to go the right industry. After completing their professional education, they have to look for the opportunities and reliabilities from others.
Hiring of skilled and trained professionals can be terrible. As an entrepreneur, one cannot offer a large package for efficient and skilled employees, and on the other hand untrained and unskilled employees will not help the organization to lead to destination efficiently.