Can Sustaining A Small Business Be Considered As Being More Daunting Than Sustaining A Startup
The term ‘Start-up’ however usually brings in one’s mind a eureka moment, a vision which is however followed up by a zest in order to step into the unexplored vistas. It is however nurtured by the young achievers who however have a zeal in order to excel and also the confidence in order to take on any kind of challenge head on.
The ambitious journey which is of building a start-up from the scratch and then however watching it grow successfully is considered as a vision which is harboured by many promising entrepreneurs. Thus, there is however no denying of the fact that however such thoughtful leaders are therefore all set in order to bring about the change that most however only talk about.
The purpose of this article is to make the reader aware of the fact as to how can sustaining a small business be considered as being more daunting than sustaining a startup.
The immense potential which is however available within this space has thus also a paved the way for some of the valuable contributions. Initiatives such as ‘Startup India’ that however support this ambition & their determination and also its foster innovation, has thus been launched by the Government of India appreciating these kind of entrepreneurs.
Similarly, several of the prominent stakeholders which are from India and also overseas have however begun in order to invest heavily in the hopeful ventures, allowing such kind of enterprises in order to scale up their businesses manifold however within a short span. So, thus a large number of the people have however jumped on the bandwagon and are also willing in order to experiment but there is also no denying that, on an average, nine of 10 bite the dust which is thus in little time because they however generally chose in order to jump start on an idea without an kind of effective backup of the experience and also even before however understanding the real nitty-gritty.
However , meanwhile many of the growth drivers have however turned in order to channelize their energies on the Indian Small and Medium sized Enterprise (SME) sector and are thus also taking necessary measures in order to alleviate the challenges that are however hindering its growth.
The Challenges that are Faced By the Indian SME Sector, How Can The Government however Help?
The Indian SME sector has however thus evolved over the years and one must however thank to the rising awareness which is about the hard work of the small business owners and also the efforts that are however made in order to help such kind of enterprises. However, the various proposals are however thus at a nascent stage and it thus also still has a long way in order to go in terms of matching the support that is thus however being enjoyed by the start-ups.
Following are thus some of the biggest challenges which are faced by the Indian SMEs.
• Lack Of the Proper Infrastructure
The Indian SME sector is thus largely unorganized which is however owing to the substantial number of the small enterprises that are however still technologically and also they are financially challenged. Lack of the basic facilities, infrastructure, and also marketing tools thus however make it really difficult for most of the small & medium businesses in order to survive or either compete with the relatively strong players which is thus in the market. Some however even burn out or either fail in order to sustain their venture and thus are also thus eventually forced in order to shut the doors. Thus, the need of the hour is however in order to introduce the initiatives that can however help such kind of companies flourish.
• Difficulty For The Purpose Of Acquiring Adequate Funding Or The Credit Instruments
While most of the entrepreneurs however have the opportunity in order to pitch their ideas to the potential investors with an objective in order to secure the funding however for their new start-ups, the same thus cannot be said for the Indian SMEs. The Small businesses in India however thus tend in order to have a more difficult time however for the purpose of accessing the loans from either the banking institutions or the Non Banking Financial Companies (NBFCs) which is however due to the inherent doubts which is thus about their chances of success. Some of the banks however do offer the loans to the SMEs which also involve the tedious paperwork, also however leading many of the small business owners in order to run which is from pillar to post in order to submit the right documents, and is also in the process, they thus also lose their valuable time and effort. Thus however also , in order to improve the situation, the Government of India should also make it easier for the small business owners in order to access the loans in order to sustain their ventures.
• Helping the Small Businesses in order to Gain Sustainability Is Considered as a good thing
It is thus however thus now a known fact that the growth of the Indian SME sector can thus however also lead to the country’s overall economic growth, as thus the segment also however contributes up to the eight per cent to the country’s GDP, also constitutes 45 per cent of the manufacturing output, and thus also 40 per cent of the exports. It also however comprises more than 51.1 million units and is thus responsible for the purpose of creating the employment opportunities for however over 120 million people which is across the country.
The traditional set-ups have however come with the loads of experience which is thus in their specific domains and also their entrepreneurial efforts are however akin to the sizeable success. Therefore, it is however evident that thus sustaining the small businesses is also thus absolutely essential for the growth of Indian economy and they should however be provided with equal opportunities thus as start-ups in order to gain stability.
Of late, the Government of India has thus also made some efforts in order to improve the overall SME sector which is thus in the country. Some of the private players who thus however understand the requirements of such kind of businesses have thus also stepped in order to provide the requisite in order support to the SMEs.
Also , Certain B2B platforms have however also come up with the SME-centric solutions that however allow the sellers & buyers in order to interact and also provide the paid services in order to facilitate the better placement, exposure or the response. SMEs can however now connect with the manufacturers, exporters, suppliers and the buyers in order to generate value from the unlimited online trade opportunities & also the buyer enquiries. Such platforms also understand the fact that the SME owners however work hard in order to sustain which is thus also in the ever-growing competitive arena. So they are thus however constantly equipping the latter in order to stay on top and also in the process which is however in learning the fundamentals of the various advancements that however have catastrophically changed the way business is done.
However Considering these kind of facts, it can also be stated that in the current scenario sustaining the small businesses has however certainly become more daunting than however supporting a start-up. It is thus the need of the hour in order to provide such kind of enterprises with the opportunities that can however help the latter gain strong foothold, however ensuring a favorable impact on our economy.