Business is the second name of life given by the mankind itself
Starting up a business is not a faint of heart and not a cup of tea for every other person. But if you’re ready to turn your idea into reality, entrepreneurship is an exciting journey that will change your life, lifestyle and the way you look at the world totally different. From overcoming challenges to landing your first client and actively managing risk are the biggest challenges in the pathway to success.
Everyone has at least one idea that can be turned into a viable business. The idea sparks something inside of us and ignites the passion which is difficult for only some to ignore. This spark makes a person think and invest in his idea and start a new business.
An initiative was taken by the government of India called ‘Startup India’ and it was introduced by our Prime Minister Narendra Modi.It was launched in 2016 January, 16(2 years ago). This initiative is based upon 3 pillars:
(1) Simplification and Hand holding.
(2) Funding supports and Incentives.
(3) Industry-Academia Partnership and Incubation. The initial capital of INR 200 billion (US$ 3.0 billion) has been allocated for this scheme.
One of the biggest advantages of a Startup is that a person is full of energy and passion and is willing to persuade something new. An entrepreneur has its own rules and they’re the boss, startups also provide employment opportunities and they are better at pricing than corporations. But, everything has its bad side too as there are Higher costs, taxes and regulations, no seed funding unless the startup is promising.
I conclude that proper planning and a better idea can lead to the success of a startup. And, for these plans, the initiative laid down by the government is an overwhelming step.