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Startups in India To Get Major Boost As HDFC Bank’s SmartUp Grants Aims To Empower Social Sector Startups; Here’s How To Apply

Business Ideas

Mumbai, February 10: With an aim to help and empowering social sector startups in India, HDFC Bank has launched an initiative and has invited applications for the same. We are aware that India is home to one of the largest startup ecosystems in the world.The HDFC Bank has invited applications from startups across all sectors and solo entrepreneurs for its SmartUp grants.

The SmartUp grants by HDFC Bank under #Parivartan –the bank’s umbrella CSR brand. It is aimed at finding and deploying long-term, sustainable solutions at scale, to address social issues and contribute to the economic and social development of the country, the bank said in a statement.

This year, the HDFC bank informed that it will focus on start-ups creating social impact at scale in sectors such as Education – technology (ed-tech) and skill development, among others. Reports inform that the startups will be evaluated basis their market reach, penetration and scalability of the product, degree of social impact in beneficiaries’ lives and economic viability of product at scale.

The HDFC Bank has partnered with nine start-up incubators registered with Govt of India’s MeitY platform to screen, mentor, and monitor start-ups.  The nine incubators are from premier institutes and include IIT – Delhi, IIT – BHU, AIC BIMTECH Noida, IIM Kashipur, GUSEC Gujarat, C-CAMP Bangalore, Banasthali University – Jaipur, Villgro Incubation – Chennai, and T-HUB Hyderabad.

Here’s how startups can apply for the HDFC Bank’s SmartUp grants:

  1. The startups in India can apply for the HDFC Bank’s SmartUp grants on February 16.
  2. After the application process, the bank and incubators will jointly reach out and engage with them through the SmartUp portal hosted on Ministry of Electronics and Information Technology’s website.
  3. The incubator partners will then screen and shortlist applications and the SmartUp team will select finalists.
  4. Thereafter, finalists will pitch their startups to a jury comprising the senior management of the bank.
  5. It must be noted that the startups will be evaluated basis their market reach, penetration and scalability of the product, degree of social impact in beneficiaries’ lives and economic viability of product at scale.

Smita Bhagat, Country Head – Government, E-commerce and Start-ups, HDFC Bank, said: “Enterprises working in the social sector are doing commendable work in changing the lives of millions of Indians. SmartUp grants is one way of offering our support and encouragement in this journey. We want to be a pillar of support for social entrepreneurs who want to bring a positive change to the society.”

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Business motivation

3 Types of Business Processes every Organization must Have!

business process

Being an entrepreneur is never easy. Managing and running a business requires multiple departments, skilled staff, and a smooth business process.

Processes are the heart and soul of a successful business. Business process management is how you effectively manage all the processes.

Business process management is a practice of managing all business processes that help to achieve an outcome. It is an ongoing activity that helps to identify key areas that need improvement.

Business process management works in multiple forms. Though some processes can be completely automated, others need human input for making decisions. Here are three types of business process management that every organization must have:

Document-centric BPM

A document-centric business process is built on the foundation of a particular document. The main agenda is to send the multiple approvers who are involved in the process and get it approved. The document-centric BPM helps to reduce the need for emailing documents back and forth and increases efficiency.

Human-centric BPM

As the name defines, this type of business process involves human inputs. The decisions are made by humans and most of the heavy task is performed by humans. The scope of the business automation process is limited here.

To help employees understand and manage the process easier, it offers a visual interface too. Since this process impacts employees directly, this process needs more attention as compared to others.

Integration-centric BPM

The integration-centric business process management is centered on the integration of different software systems. Its main focus is on creating a smooth flow of data between the networks and software tools.

A business process management impacts multiple teams and employees as all the activities in your company happen as processes. When you start taking processes seriously, a BPM becomes a tool that can help you achieve your business goals.

This new age of business has given us the answer to this, and if you look around, you’ll find tools meant for rising stars just like yourself – apps and services that let you manage many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.

A successful businessman needs an efficient team and organized business activities. If you need to reduce expenses, and focus on your core business, join our Everything about Entrepreneurship course. Click here to know how this course will benefit you: https://www.badabusiness.com/?ref_code=ArticlesLeads

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5 Low-budget Digital Marketing Strategies for small-business owners

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5 Low-budget Digital Marketing Strategies for small-business owners

Are you a small business owner who is trying to make it big in the business market? Do you want to boost sales of your business, but have no funds to spend on marketing?  Are you looking for effective ways to do digital marketing for your business? If yes, then this is a must-read blog for you!

With the Covid-19 pandemic hitting worst at the small businesses and Indian startup sectors, businesses are looking for ways to make a comeback. Due to the imposed nationwide lockdown and new guidelines, small enterprises suffered great losses.

According to a report published in Financial Express, “the advertising industry in India will grow at 11.83% CAGR to reach a market size of Rs 1,33, 921 crores.”

Many entrepreneurs and solopreneurs are trying to boost their business sales with effective digital marketing strategies. If you too want to grow your business sales, here is a list of all the free tools and strategies that can help you to perform better in the market:

  1. Keep your SEO Game Up

Search engine optimization is an important factor that can make a huge difference in attracting visitors to your business website. Analyze your current SEO situation with the help of many tools that are available on the internet for free. With the help of these tools, you can deep audit your website .

  1. Find Target Keywords

We can`t stress enough how important keyword research is. Performing fresh keyword research several times can ensure that your sales figures are improving. There are free SEO tools like keyword planner tools from Google Adwords to perform search engine optimization.

  1. Start a Blog

According to WordPress, more than 409 million people read around 23.7 billion blog posts on its platform every month. And, that’s a lot of content! To attract visitors to your website, you are going to need a quality blog on your site. So, writing blogs that are stuffed with keywords will do your customers no good.

If you are wondering how long it takes to write a quality blog post, nearly half of the bloggers say that they spend around 1-3 hours on a single post.

  1. Use Email Marketing Campaigns

Some may argue that email marketing is a passé. But, it is still an excellent digital marketing strategy for small business owners. A well-crafted email can help you build personal connections with your clients and also helps to lower the marketing costs.

  1. Video Marketing

An eye-catching video or an advertisement can stay for a longer duration in a customer`s mind. So why not make the most out of it? An engaging video related to a product or service can help small business owners to dominate the market.

Getting involved in other platforms too is a great way to spread the word about your brand. It is an excellent marketing strategy for building trust.

What else you can do to ensure that your business is reaching out to its potential customers? Take our Problem Solving Courses to will help your business grow.

Break-through the challenges that you are encountering in your business by clicking here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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Best 4 Ways to use Instagram for Business that will grow sales unexpectedly!

Instagram for Business

Would you like to grow your business and increase your brand`s reach to a wider set of customers?  Would like your products to be seen by more people, grow a strong following of customers who relate to your brand, and get paid for it? If you can feel yourself nodding while reading this article, then Instagram is your magic spell!

In 2010, a global app was launched with a simple idea- allow people to share their amazing photographs online. Back then no one knew that this global app will bring a digital revolution into the dynamics of business.

Yes! You heard it right! Instagram has become an effective marketing tool for the business personnel and does more than just photo-sharing.

With nearly 112.5 million users in 2020, Instagram has become one of the most popular social media platforms. From gathering insights to selling products, Instagram for business has helped many entrepreneurs, solopreneurs, small business owners, and influencers to establish their brand presence.

If you too are an entrepreneur who wants to boost business sales, here is how you can use an Instagram business account in the best 4 ways:

  1. Create Cool Insta Bio

Your Insta Bio is the best way to connect your business with its potential customers. The more catchy, crisp, and creative your bio the more followers and customers will flock towards your account. Using Instagram for business can reflect the unique and candid side of your business, which might stay hidden under layers otherwise.

  1. Instagram Stories

Thinking about a creative way to showcase your products to customers? Instagram stories are the way to go! A perfect way to increase customer engagement, Instagram stories are the best way to display your products in the form of short videos for 24 hours. So beef up and start creating interesting stories for your Instagram for business.

  1. Hashtags

The world is now operating on ‘Hashtags’! Everything which is trending on social media is now turned into a hashtag. Using trending Hashtags is the best way to make your customers follow you. Your hashtags should be in alignment with your products. You can also do deep research to find out hashtags that work best for your business.

  1. Collaborations

Want to attract new customers? Collaboration is a new way! All you have to do is to find a social media influencer you feel is the right face to promote your brand. Contact the same and close the deal. Once the deal is done, you can collaborate with the person to showcase your products most creatively.

Make sure that the influencer must be popular and should have a maximum no. of followers.

Every business needs customers and Instagram business could be your knight in shining armor when it comes to marketing. If you know how to use it effectively, it could be the best marketing tool for creating your brand presence.

If you are struggling to increase your business sales during the pandemic, take the help of our Problem Solving Courses. Specially designed by the top industry experts, these courses can help you take your business ahead in the market. To know more, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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5 Amazing Benefits of Business Process Management you must know!

business process management

From the departmental store in your locality to Google headquarters, there is one thing that remains common in every business- processes. Processes are the heart of the way every business operates. Whether you are an entrepreneur, solopreneur, or a business owner of a small Kirana shop, understanding a business process is vital.

Every department has a specific process attached to it. That is why it is important to know the importance of business process management.

What is BPM?

BPM or business process management helps to optimize all the important business processes. It helps to improve the company`s overall performance.

So can business process management help your company to achieve its goals? It`s time to dig deeper and explore the 5 benefits of an effective business process:

  1. BPM can Reduce Costs

To stay functional and steady in the business world, companies need to focus on reducing costs. By optimizing the business processes, you can determine which process is vital for the growth of the company and what is not.

  1. Increases Productivity

A business process helps the organization or a company to construct a solid framework for every process. All the processes are documented, monitored, and optimized. This enables the team to carry out processes with very hiccups, which increases productivity.

  1. Reduced Errors

Errors are difficult to track when the processes are managed in spreadsheets. The primitive tools like spreadsheets and emails make it hard to keep everything organized and up-to-date.

With good BPM practice, the frequency of errors is greatly reduced. People involved in these processes are informed of their duties. It also ensures that the stakeholders are meeting the expectations.

  1. Ensures Policy Compliance

Every organization has multiple departments, and hence, department-specific policies to comply with. A business process mapping tool will ensure the smooth progression of these policies.

  1. Reduces Micromanagement

Micromanagement might get the tasks done at hand. However, it could be destructive for a company in the long run. The leaders try to micromanage their teams to reduce errors. Here, BPM eliminates the need for management. All the standard operating procedures are mentioned and employees are also aware of their duties.

Employees realize what is best for their teams, and they think about creative solutions, which help the organization to achieve its business goals.

You too can reduce the old methods of handling your business processes. You can learn how to build an effective business process management that your team would want to use. Learn business techniques at your own pace from the industry experts in easy-to-understand language from our Everything about Entrepreneurship course. To know more, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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5 Steps to Start an Online Clothing Business

clothes business

Convenience has been the driving force behind a plethora of innovations. The COVID 19 pandemic has put a pause on our real-time shopping activities. As a result, the demand for online clothing businesses has risen. Many clothing business websites have been cropped up in the past few months.

According to a paper published by Technopak in Business Today, “the $130-million e-retail apparel has attracted investments worth $70 million, or 40% of the total funding Indian online retailers received in the past two years”.

So if you are an entrepreneur who wants to enter into this segment, starting a clothing business online has a lot of scope in the market.

  1. Find your Niche

Not everyone is your customer. Every business has a niche market, so you need to do your homework. The better you know your customers, the better are your chances to give your customers what they want.

You will be dedicating a lot of time to your business, so research well. Always keep in mind that your clothing business idea is creative and authentic.

  1. Business Plan & Startup Capital

Having a well-researched business plan is very important. A business plan is a road map that will guide you to reach your ultimate destination. From manpower, warehousing, marketing, costing, sales to delivery logistics, and fund requirements, a business plan consists of everything.

Whether you wish to manufacture clothes or want to sell them wholesale, your business plan must be as per your need.

  1. Showcase your USP & Pick your brand name

What sets you apart from the crowd? What makes you different from your competitors? Why customers should buy your product? It could be your designs, your premium quality fabric, authentic patterns, or fine-cuts. Find out your USP and build your marketing strategy on it. It will not only set you apart from your competition but will also attract customers.

Once you have defined your USP, it is time to pick your brand name. A brand name is going to represent you in the market. So, make sure that the name is catchy, easy-to-remember, and crisp. Most importantly, it should define your USP.

  1. Choose an e-Commerce platform

Whether you decide to sell clothes online or planning to set up a clothing store, choosing an e-commerce platform is beneficial. An e-commerce platform will help you to connect your store with your potential customers.

This will give you a platform to showcase your designs to a wider set of audiences. Even those who are sitting far away will be able to buy from you.

  1. Build a Website

Create a visually appealing website. Having an official website can provide benefits to your online business. You can accept orders round the clock, provide excellent customer service, and showcase all your products.

As consumers are likely to stay home for a longer period due to the pandemic, starting an e-commerce clothing business can be profitable. If you are interested in starting one, join our ‘Everything about Entrepreneurship’ course and learn the in-depth concept of the clothing business from the industry experts.

To know more about our course, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

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Cosmetic Business Store: How to open your store in 7 Easy Steps

cosmetic business

From the ancient beauty practices rooted in Ayurveda to international brands introducing their organic makeup products, the market is brimming with cosmetic stores. The Indian beauty industry has seen enormous innovation and entrepreneurship in the last couple of years.

According to a Redseer report, the cosmeceutical market is in India is growing at a CAGR of 25 percent. India is set to become one of the top five global markets in 2025 by revenue.

In India, the history of beauty practices dates back to the Indus Valley civilization. There has been historical evidence that proves the indulgence of both men & women in self-beautification. As the ancient practices paved way for the modern ones, the rise in the cosmetic business has been observed.

If you are a young aspirant who is interested in beauty and skin products, opening a cosmetic store is a brilliant idea. The market is flourishing and the demand for beauty products is increasing with each passing day.

Want to start a cosmetic business? Here are 5 things you must do to start a cosmetic brand of your own:

  1. Understand the Market

Be it a printing press or a cosmetic store, understanding your target market is important. To establish a successful cosmetic business keeping an eye on the popular trends is crucial. Understand your consumer behavior and what they expect from your product.

You can take a survey by preparing a specific set of questions and asking your potential customers. Or, you can take help from professionals to conduct market research to get the real picture.

  1. Create a Business Plan

When we say, we are asking you to ‘create’ a business plan and not just write it. It takes a lot of information and thorough research to come out with an excellent business plan. A detailed business plan is a must for a cosmetic business store.

Understand your business goal. Evaluate all the factors such as the capital, rent for space, salaries of staff, procurement of products, and marketing & advertising in your business plan.

  1. Learn about the cosmetic industry

Understanding the fundamentals of any industry is essential to ensure the success of any business. So, if you want to a successful entrepreneur, understand the dynamics of the cosmetic industry. Research and know more about your competitors and what makes them popular.

  1. FDA`s Regulation

In India, FDA has specific rules about the ingredients that you can or cannot in your products. So, get a sound knowledge of the FDA`s regulations about the manufacturing and labeling of cosmetic products. You must also understand the ground rules for sale, labeling, and production.

  1. Register your Cosmetic Store`s Name

If you are planning to open a cosmetic store at a small level, you can start it without registration. But, if you want to start it on a big level, then you must select a nice name and register it with the local authorities.

  1. Choose a range of Cosmetic Products

It is essential to always select cosmetic products by keeping the market analysis in mind. Always keep a range of cosmetic products in your store that is in demand.

  1. Take your store Online

In this digital age, almost every business is trying to grow its online business. An online cosmetic business store can open a world of opportunities for you. Create a beautiful design with an excellent user interface. Use the power of social media to attract more visitors. Build a meaningful relationship by interacting with customers online and make a great profit margin in the cosmetic shop.

A business cannot survive without its customers. So, whether you already have a cosmetic store or planning to open one, building an online presence is a must!

What else you will need to open a cosmetic business store? Discover all the insights and in-depth knowledge related to business with our Everything about Entrepreneurship. To know more click here: EAE = https://www.badabusiness.com/?ref_code=ArticlesLeads

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Business Confidence in India Improves As Economic Activities and COVID-19 Vaccination Drive Gathers Pace: NCAER Survey

Evaluation of Business Performance
एंटरप्रेन्योर

New Delhi, February 8: The business confidence in India has improved as economic activities pick up and vaccination drive gathers pace. A study by the National Council of Applied Economic Research (NCAER) stated that the NCAER Business Confidence index (BCI) rose 29.6 per cent on a q-o-q basis during the third quarter of FY 2020-21. “The BCI rose further by 29.6 per cent on a q-o-q basis, rising from 65.5 in 2020-21:Q2 to 84.8 in 2020-21:Q3,” and NCAER statement said.

The report stated that the business sentiments remained worse than they were during the corresponding period in the previous year. According to a report by IANS, The proportion of respondents expecting that ‘overall economic conditions will improve in the next six months’ increased by 4.8 percentage points. This was 29.8 percent in 2020-21, Q2 to 34.6 per cent in 2020-21, Q3.

The respondents are also expecting that the ‘financial position of firms will improve in the next six months’ increased by 3.1 percentage points, from 27.7 per cent in 2020-21, Q2 to 30.8 per cent in 2020-21, Q3, the study reported.

The BCI increased for the consumer durables sector by 26.1 percent on a q-o-q basis in 2020- 21, Q3. For consumer non-durables, it increased by 32 percent, for intermediate goods by 37 per cent, for capital goods by 27 per cent, and for the services sector by 32.5 percent, the report added.

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Ease of Doing Business in India: 4 More States Complete Ease of Business Reforms, Total 12 States Become Eligible To Mobilise Additional Financial Resources

New Delhi, February 7: The total number of states in India that have undertaken ‘Ease of Doing Business’ reforms stipulated by the finance ministry has gone up to 12 with the addition of four more states. On Saturday, four states — Assam, Haryana, Himachal Pradesh and Punjab undertook the ‘Ease of Doing Business’ reforms. With this, these states have become eligible to mobilise additional financial resources and have been granted permission to raise additional Rs 5,034 crore through Open Market Borrowings.

The ease of doing business is an important indicator of the investment friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy, a finance ministry statement said.

In India, total 12 states that fall in the list include Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana, Assam, Haryana, Himachal Pradesh and Punjab which was confirmed by the Department for Promotion of Industry and Internal Trade (DPIIT). After completion of reforms facilitating ease of doing business, these twelve states have been granted additional borrowing permission of Rs 28,183 crore.

In May 2020, the government had decided to link grant of additional borrowing permissions to states that undertake the reforms to facilitate ease of doing business. In view of the resource requirement to meet the challenges posed by the COVID-19 pandemic, the Government of had on May 17, 2020 enhanced the borrowing limit of the states by 2 per cent of their GSDP. Half of this special dispensation was linked to undertaking citizen centric reforms by the states.

So far, 17 states have carried out at least one of the four stipulated reforms and have been granted reform linked borrowing permissions. Out of these, 12 states have implemented the “one nation one ration card” system, 12 states have done ease of doing business reforms, 5 states have done local body reforms and 2 states have undertaken power sector reforms. Total reform linked additional borrowing permission issued so far to the states stands at Rs 74,773 crore.

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Evaluation of Business Performance: 5 Ways to Measure True Success

Evaluation of Business Performance
एंटरप्रेन्योर

“What gets measured,” the infamous Peter Drucker famously observed, “gets managed”.

Business is unpredictable, and what makes it more complex is the cut-throat competition. The trends that are ‘in’ today will be ‘out’ tomorrow. So the only thing that you can count on is that everything in the business world continuously changes.

Hence, it is super important to measure your business performance constantly. A Gartner report suggested that organizations that use predictive business performance metrics can increase their profitability by 20%.

Being an entrepreneur it is vital to know what works for your business, and what does not. Be it small, middle, or large, every business has its share of success and failure. So it is essential to constantly keep a finger on your business performance to stay ahead of your competitors.

If you too want to evaluate the business performance of your small business, here are 5 ways you can do it:

  1. Analyze Financial Statements

Money is important! And, one of the best ways to evaluate the success of your small business is to see how much revenue your company is generating. If your business is generating revenue, then you can pursue your entrepreneurial dream. Without it, your business will not survive in the long run.

  1. Check Customer Satisfaction

Another important way to measure the business performance of your small business is customer satisfaction. Customers can help you improve your business performance. If your customers are satisfied with your products or services, then your business is making progress.

But how do you measure customer satisfaction? You can do that through various surveys, reviews, and honest feedback from your customers. If your business is at a very early stage, you can start developing a client list with an email address to track customers. This way you can keep a count on your new customers as well as build a strong relationship with your clients.

  1. Reach Break-even Point

Setting up a break-even point or a target can help you evaluate the business performance of your small enterprise. The set target is the number you need to achieve in a given period (monthly or quarterly) for the company to cover its expenses to sustain. It is important to reach the break-even point, even if your business is not making a profit.

  1. Sales Indicators

The volume and frequency of sales can provide everything you need to measure the business performance. You can segregate the sales data into new customers, sales to existing customers, how much profit a particular product or service is making, or any other categories that might prove vital for the business. Keeping track of these numbers can provide invaluable insights into your business performance.

  1. Assess your Expectations

While evaluating your business performance, it is also important to assess your expectations. Many people disregard their happiness when it comes to evaluating business performance. But try to consider your perception when measuring your business performance. It always helps!

Entrepreneurship is not easy. However, with the right expertise and guidance, one can master the skills that are imperative for the progress of your business. So why not learn it from the business gurus? Join our ‘Everything about Entrepreneurship’ course where you will discover the fundamentals of business.

To know more about the course, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads