The
thought of creating Successful Entrepreneurship Stories, controlling
own destiny, is a hugely attractive prospect but the road of Successful Entrepreneurship can be
challenging and exhilarating, frustrating and isolating, inspiring and
exhausting, sometimes all in the same week. The most important key
to serious accomplishment as an entrepreneur is, by far, one’s own internal
drive and passion. That’s not something which could be learned somewhere.
Government encouraging startups
Startups are becoming very popular in
India. Especially with various Startup Funding News going on by entrepreneurs are
witnessing a funding boom. The government of India has started and promoted
Startup India to promote growth and help the Indian economy. Under this
initiative, many benefits are being given to entrepreneurs establishing
startups. Easy access to funds is set-up by the government to provide Startup Funds like venture capital. The
government also guarantees lenders to encourage banks and other financial
institutions for providing venture capital.
Challenges of a startup
Launched
to build a robust eco-system for entrepreneurship and encourage enterprising
individuals, the Government Startup
Program
for Business
Entrepreneurs is
about setting up a sustainable growth system. It aims to create an encouraging
environment to take a risk and go innovative for work. Some of the key
challenges a startup has to face are:
1. Financial management: Startups Funding rely
heavily on financial backups from investors. At times, when there is a cash
influx, startups tend to find it really hard to properly manage their finances.
2. Customer Trust: Customer’s
trust is one of the key challenges in any business, particularly in a startup. A
highly satisfied and loyal customer base can help startups scale and make progress
towards excellence. Implementing a customer-centric working philosophy can also
help startups to succeed in their pursuit.
3. Security:
Surviving cyber security challenges in this digital age requires super agility
to counter online security threats. In order to safeguard all the important
online data, startups need to have robust security systems in place thereby
restricting unauthorized access to organizational data over the web.
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