Start-ups and entrepreneurship are two the words which are lately buzzing among youth . But the trend of starting up a company and taking risks was not new to many of western countries . There could be many reasons behind this like food security , incentives etc. Since many years people from our country are moving to abroad in search for jobs and many end up getting a fairly good job in some start-up easily. But this trend was slowly shifting due to fluctuating economy in countries like USA.
This shift of starting up a company has boomed in these couple of years, Many start-ups have managed to make a good market share . In a survey by nasscom, it is observed that there is more than 67% rise in number of start-ups. We hear of successful startups like flipkart, ola oyo etc but these are just less than 10% of total ! What about the rest of the start -ups . It is learnt that many shutting down within just 3 years!
Why most of the start-ups are unable to make a place in the market ? One cliche argument could be that government couldn’t recognize this trend early enough to provide some sort of security and facilities. But this is just one side of the coin ! Lets try to look at the other side .
The most common reason for failures among our respondents was the lack of a cohesive team, or differences with co-founders. Other shut down because they were unable to raise funds or utilise funds raised effectively. Some founders said unfamiliarity with the business in which they were operating led to the shutdown. Interestingly, more than half the founders have opted out of entrepreneurship and have taken up jobs in companies.
There is a great need for entrepreneurship in Indian and it is a great time to take leap forward and make your mark. But moving blindly in a hope that everything will fall into place without any ground work and not have ability to collaborate and falling pray to ego will not take any company forward.
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