Job Creation: Startups Starting Up!
Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
Importance Of Technology For SMEs
We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.
Importance Of Digital Economy
Economic activities that result from billions of interactions between individuals, businesses, data, devices, and processes constitute a digital economy and India is well on its path to becoming a digitally advanced economy. Driven by cheap data cost, faster connectivity, and affordable smartphones, India had over 1,160 million internet subscribers in February 2020, as per the Telecom Regulatory authority of India (TRAI), second only to China.
India's Economic Growth – Can The Startups Redefine?
Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
ENTREPRENEURSHIP EDUCATION FOR BUDDING MINDS
In the present economic situation, having knowledge of an academic subject is no longer sufficient for a new graduate. Students are increasingly required to have skills and abilities which will increase their employability, such as: the retrieval and handling of information; communication and presentation; planning and problem solving; and social development and interaction.
CHALLENGES OF ENTREPRENEURSHIP DEVELOPMENT IN INDIA
The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
HOW INNOVATION PLAYS AN IMPORTANT ROLE IN THE PERFORMANCE OF SMEs? WHAT ARE SOME INNOVATION FACTORS TO FOLLOW?
Innovation in a business must respect the business strategy in terms of the SME's long-term missions, visions, and goals and is systematic implementation procedures and changes to improve the products and services your company offers. The innovation implementation ensures an appropriate response in terms of increased sales and enhanced customer satisfaction. The image strengthening of your firm will lead to better customer relations with your company and at the same time provide financial stability for the company.
ECONOMIC REFORMS THAT CAN CHANGE THE ENTREPRENEURIAL ECOSYSTEM
The year 2021 marked 30 years since economic liberalisation surfaced in India and writing on this occasion, the richest man of India; Mukesh Ambani said that bold economic reforms such as ending the license –quota raj, liberalisation of trade and industrial policies, freeing up capital markets and financial sector helped our GDP grow ten folds since 1991 and India transformed from an economy of scarcity in 1991 to an economy of sufficiency in 2021.
ROLE OF WOMEN ENTREPRENEURS IN INDIA – THEN AND NOW
As per the 2019-20 annual report of the MSME ministry, among 63.3 million MSMEs that India has, women–owned 20.4% of them up from 13.72 % in 2013-14. This data supports the fact that there has been growing acceptance of women in entrepreneurial roles but it hasn’t always been the case.
TECHNOLOGY AN ENABLER FOR SMALL BUSINESSES
Today times are such that firms operate in a dynamic environment and they must act dynamically too, at least firms should keep an eye on obsolete processes and technologies and replace them with updated versions to stay competitively ahead.
What Is The Future Of Automation In The Banking Sector?
As the automation wave has increased in the banking sector, its capacity has increased and now the employees have more time to focus on bigger value projects. This opportunity should be captured by the banks to take a strategic approach rather than a tactical approach.
Top 8 Most Common Legal Mistakes Made By Startups
It is not a piece of cake to set up a startup. It needs quite a bit of effort and resources to create a successful business idea and commence its operation.
10 TECHNOLOGY TRENDS FOR SMALL BUSINESSES
Some people in the old days (1960-1990) watched sci-fi movies and read sci-fi books to only get entertained. They also believed that those technologies would forever remain caged inside those books and never come to life.
HOW CAN BANKS ASSIST SMEs IN THESE CHALLENGING TIMES POST- COVID?
With the current pandemic affecting the global economy, financial institutions and banks have started navigating to the post-COVID- 19 strategy.
GREAT TIPS TO ATTRACT THE RIGHT INVESTORS FOR YOUR BUSINESS IN 2021?
Many of the businesses require new investors for launching their start-ups or for scaling their businesses. There are many ways of approaching this fundraising. The companies that need fundraising also get the attention of those who have the capital so that they can get to another level.
5 REASONS FOR INCREASE IN ON-DEMAND APPS POST PANDEMIC
With the pandemic, many of us are stuck indoors and this has impacted the mobile usage trends as well. This has resulted in a surge in the usage of on-demand mobile apps.
HOW 2021 IS SHAPING THE CRUCIAL DRIFTS OF SME BANKING INDUSTRY?
In the coming years, banks will need to continuously improve their technology to match the needs of the markets. In the future, SME banking will be the biggest trend in the financial markets. Some of the biggest matters relating to SME business operations include the opportunity to run sustainable units. These sustainable banking trends are being designed to serve smaller businesses globally.
MANAGING DIFFERENCES AND CONFLICT RESOLUTION A SKILL MUST TO BE DEVELOPED IN FAMILY BUSINESS
Longstanding family conflict can bring a family business to its knees. It saps energy and happiness and holds back the business from functioning optimally. The first step in resolving longstanding conflict is recognizing that the consequences of avoiding an issue are worse than the emotional discomfort of discussing it. Let us look at an example of a family that succeeded in resolving longstanding conflict.
ROLE OF EMOTIONAL INTELLIGENCE IN ENTREPRENEURIAL JOURNEY
Emotional intelligence, in a nutshell, is the skill of detecting and understanding emotions in others as well as oneself. Emotional intelligent people are generally good at managing their own emotions and helping others manage theirs.
SIGNIFICANCE OF EMBEDDED FINANCE IN PANDEMIC STRICKEN ECONOMY
The banking and financial services for many Indians have shifted to digital post-pandemic. As per the leading company Forrester, even before the pandemic, 59% of the Indians were open to accepting a digital-only bank. This trend has become more widespread after Covid and financial services are now moving towards a digital platform.
Top 10 Challenges Before Small And Medium Businesses Today
Starting a business is a great achievement for all entrepreneurs, but sustaining one is the bigger challenge. There are a number of standard challenges each business faces, regardless of their size. These comprise of things like employing the right people, developing a client base, building a brand, etc.
How To Generate Finest Business Ideas
Before worrying about getting investors for your business or building a business plan, it is vital to focus on a solid business idea. If you want to start a new business or grow an existing establishment, then you don’t just need money but ideas also.
TRANSITIONING THE FAMILY BUSINESS FROM ONE GENERATION TO ANOTHER
Family businesses are not only the backbone of the Indian economy, but also tend to perform better than nonfamily companies during economic crises. But what happens when the founders decide to retire and hand over the reins to a new generation? For many family businesses, that involves one of the most complex processes and generates the most challenges.
TIPS TO DEVELOP MANAGEMENT TEAM FOR SMALL BUSINESS
To thrive, all businesses require a certain range of skills. There will be many different responsibilities upon you if you are an owner of a small business. You will realize that eventually you are better and worse at some roles than others.
SMALL TO BIG – CHALLENGES OF GROWTH IN THE FRANCHISING SECTOR
This article is written from a practical point of view from close quarters seeing many franchising companies which grew from small to Big and how some of them crashed and some of them thrived even in this pandemic and how mind sets of organisations need to change from time to time based on the technological changes and advancement and how these technologies can help garner great growth and penetration with out much human intervention and still remain process driven which will help companies to grow their business from small to BIG.
SUCCESS STORY OF HOTFOOT – SIMPLIFYING LOAN LENDING PROCESS FOR LOAN AGGREGATORS
We had a candid interview with Mr. Vivek Naidu, CEO and founder of Hotfoot. Vivek is the Founder & CEO of Hotfoot Technology Solutions Pvt. Ltd, a new-age FinTech / Credit Tech Platform that provides optimum end-to-end business solutions to Financial Institutions.
ROLE OF CUSTOMER SERVICE IN B2B BUSINESS MODEL
Out of many businesses around us B2B suppliers and companies are the ones on which most of the market depends. The sale approach and marketing strategy of these businesses are very different from that of B2C businesses.
HOW TO FOLLOW UP AND CLOSE A DEAL
Incase the sales appointment has been successful and the customer is found to be interested, closing the deal could be easy. Besides, eventually, you may understand that the customer is doubtful to ever affirm a deal.
BUSINESS SUSTAINABILITY THROUGH COLLABORATION AND PARTNERSHIP
Doing everything yourself can be tempting in the beginning when funds are few and ambitions high.
A COMPLETE GUIDE TO CHOOSE RIGHT BUSINESS MODEL FOR YOUR START-UP
Is becoming an entrepreneur your dream? Are you flooded with business ideas? Are you passionate about starting your own business? Then hold on, and think once again. In this competitive world, where about 100 million start-ups launch every year, make sure your business idea fits in the market. The ultimate aim of any business is to generate revenue. The foremost step to be kept in mind before initiating a start-up should be a well-planned business model that provides an overview of your efforts and expectations.