Why go for start-ups NOW?

When you go through the pages related to entrepreneurship, what is the first thing that comes to yourmind? Probably, why to prefer your own start-up over doing a job, how can I be benefitted from it etc. Don’t fret! You will get answers to all your questions in this article. The best thing is that in a start-up, you are your own master.   No boss to worry of and no need to request for anything. The start-up is of you and for you. You can do anything you wish, which will take it to new heights.

The present scenario is best suited for the people thinking of a start-up. In the budget of 2014, the honourable finance minister has brought cheerful news to start-ups by announcing a number of measures and schemes to encourage start-ups. It includes a budget of Rs. 10,000 crore for helping the initiators. A sum of Rs. 100 crore is especially for setting up a start-up village entrepreneurship program for increasing rural youth to take up local entrepreneurship program. This will open up new doors to people in near future who want to do something innovative.  Apart from union budget, many states have their state policies too, which target on giving special benefits to young entrepreneurs.

Many governmental schemes and funding to SMEs (small and medium scale enterprises) also provide the base capital as well as finance for growing the start-up. Some of them are as follows:  

• Working capital finance (for all segments of service sector) .
• Corporate term loans(to support capital for setting up new ventures).
• Deferred payment guarantees (to support purchase of capital equipments).
•  Project finance.
•  Structured finance.
•  Small and medium scale enterprises(SMEs) loan pack.

Wait! Here is the most important thing! You can start-up even with a small amount. As per the statistics of most of the surveys conducted, a lot of people begin with Rs. 10,000 to Rs. 50,000 sometimes even less than that and finally because of the initiative, take their company with turnover far greater than the initial investment Coming to the age group, it is not surprising that most start-ups are being initiated by the people belonging to age group of 20 – 30. Young minds can always come up with new innovative ideas. It is a paradox that one who has lost every hope of getting a job thinks of start-up. There are many instances of people who’ve started off on their own in spite of being offered really well-paying jobs.

Hope this answered all your questions! So, don’t think a lot. Go ahead! Give it a shot and start your own company! You never know, you could be the next Steve Jobs!

                                                                                                                              

                                                                                                                                               Rohit Gupta

Categories: #Start-up