Startups are of quite importance these days as they play a very important role for the development of the country and it has also make things easier for people. In earlier days people were compelled to travel long distances to get services from professionals to get their work done but now they do not need to do so, as they can get access to any service they require just by making a phone call or using an app easily. The number of startups are growing in India and they are definitely going to progress.
But there are many challenges and road blocks that have to be faced by Indian startups. Some of these problems are mentioned below.
It is very difficult to hire the right personnel for the desired tasks. It is near to impossible to get the right talent for the startups with comparatively lower salaries. The main issue is to convince people to join the startup. The sole aim is to motivate people and make them part of the company and sometimes it is quite hard to estimate the number of employees that may be needed to be hired for a startup.
Another problem that is faced by the Indian startups is to find investors for their companies. Firstly, they have to show the outcomes of the company in order to convince the investors to invest in them. The funds are necessary to promote and advertise the company but the problems within the companies have to be solved by the founder and the number of investors is very limited in India.
3) Lack of advisors
There are numerous young, educated people in India which have bright ideas but they do not have the required experience to run a company and there is a lack of counsellors or advisors who can guide them in the right way and help them to develop their contacts and expand their network. Finding a good mentor can be a tough and exhausting job.
4) Change in culture
It is hard for people to accept that now the youth is interested to create job rather than to find one and the culture in India is not so prepared to face problems concerning startups. A society should support the people in terms of failures as well because they are very important to make an expert entrepreneur but unfortunately so is not the case with the Indian culture.
5) Government policies
In any country the establishment and development of startup solely depends on the policies made by the government. In India, government has been effectively giving out loans and grants but the need of implementation and enabling atmosphere is still there. The startups can only be successful if the government understands the significance of entrepreneurship for the development of the economy of the country and it is the milestone that has to be achieved by India.