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Startup

NORKA Pravasi Startup Scheme: More Than 4,000 Expatriate Entrepreneurs and Startups Benefit in Last 5 Years; Here’s How Interested Pravasis Can Apply For The Scheme Online

स्टार्टअप

Thiruvananthapuram, January 27: With an aim to help the expatriate entrepreneurs, the Non-Resident Keralites Affairs (NORKA) Pravasi Startup Scheme has proved to be a major hit for these startups. Reports inform that the NORKA has supported 4,179 expatriate entrepreneurs over the past five years. Moreover, the Left government in Kerala has sanctioned Rs 220.37 crore for such start-up projects by ”pravasis” who have returned to Kerala, an official release said.

In the last financial year i.e. in 2019-20, 1,043 people realised their entrepreneurial dreams using the Pravasi Startup Scheme and Rs 53.40 crore was sanctioned for this, the government said in a release. TheNon-Resident Keralites Affairs (NORKA) Pravasi Startup Scheme is a joint venture between NORKA and the Kerala Startup Mission to create self-employment opportunities for Pravasis who return from abroad and wish to embark on a new journey here as entrepreneurs.

The main aim of the NORKA scheme is to rehabilitate expatriates who can contribute to the economic development of the State according to their professional skills. Kerala Bank, Canara Bank and the Travancore Pravasi Development Co-operative Society are few of the 16 banks that provide loans to expatriates.

NORKA Pravasi Startup Scheme: All You Need to Know

  1. Loans up to Rs 30 lakh with a capital subsidy of 15 percent (subject to a maximum of Rs 3 lakh) are available for start-ups by those expats who have returned to Kerala after working abroad for at least two years and now settled in Kerala.
  2. The scheme also offers a 3 per cent interest rebate for the first four years for those who repay the interest on time.
  3. Kerala Bank, Canara Bank and the Travancore Pravasi Development Co-operative Society are few of the 16 banks that provide loans to expatriates.
  4. NORKA has expanded its field camps to reach out to more people, to make the loan procedures easier and to make loan processing in a single day.
  5. Seven camps were conducted during the 2019-20 financial year and about 500 pravasis have benefitted from this.

Here’s How You Can Apply and Check Details Online:

Interested Pravasis can check http://norkapsp.startupmission.in and norkapsp.startupmission.in for further details and apply for the scheme. People cab also call on 08047180470 for any information on the Kerala Startup Mission. NORKA toll-free numbers 18004253939 (from India) & 00918802012345 (Missed Call Service from abroad) and on http://norkaroots.org and norkaroots.org website.

The Norka Pravasi Startup Programme(NPSP) will facilitate the NRIs by means of various Technology business opportunities which the NRI community can adopt and contribute to the economic development of the state.

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Startup

Indian Startups Attract $10.14 Billion in Funding Across More Than 1,200 Deals in 2020 Despite COVID-19 Crisis: Report

Startup
Startup (Photo Credits: Pixabay)

New Delhi, January 27: Despite the COVID-19 crisis, Indian startups, which were largely impacted due to the pandemic, are estimated to have received USD 10.14 billion in funding across more than 1,200 deals in 2020. According to a report by consulting firm HexGn, even though the total investment received in 2020 is lower than that of 2019 (USD 14.5 billion), the number of deals were higher by 20 percent. “Weathering negative sentiment, seed stage investment deals grew by 50 per cent from USD 353 million over 420 deals in 2019 to USD 372 million over 672 deals in 2020. This is a good sign for people looking to plunge into startups, as early-stage investors are now keen to back risk-takers early on,” the report noted. The report said that this can be attributed to the work done by Invest India, Startup India, AgNii and other agencies of the Indian government to boost investor confidence and entrepreneurial culture.

The HexGn report added that this is the third year in a row that India has kept its number four position globally after the US, China and the UK. A report by IANS states that globally, startups raised over USD 308 billion in funding, with the US garnering USD 165 billion. The report said Bengaluru, Delhi NCR and Mumbai accounted for 90 per cent of the startup investments in the country, signalling concentration of angel investors and appetite in these regions. Bengaluru led with USD 4.3 billion in startup investments, followed by Delhi NCR (USD 3 billion) and Mumbai (USD 2 billion).

The study revealed that in terms of sectors, e-commerce attracted the highest investment with USD 3 billion, followed by fintech at USD 2.37 billion and edtech at USD 1.52 billion. The biggest gainer has been the edtech segment that grew four times this year from USD 380 million in 2019. However, sectors like transportation and logistics, and travel and tourism saw more than 90 per cent drop in investments in 2020 as compared to 2019, it added.

In 2020, the startups that attracted maximum funding include Zomato (USD 1.02 billion), Byju”s (USD 922 million), Phonepe (USD 807 million), Unacademy (USD 260 million) and Ecom Express (USD 250 million), as per the HexGn report. These numbers do not include funds raised by Jio Platforms (Rs 1.52 lakh crore) in 2020. The report noted that these numbers are early guidance and there could be changes as more companies make announcements on funds received.

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Startup

Start-Up Location: 4 Factors You Should Consider While Selecting a Location to Start the Business

Business Location| Representative Image (Photo Credits: Pixabay)
Business Location| Representative Image (Photo Credits: Pixabay)

Many people are planning to establish their own business. From starting a firm to making it sustainable and successful, a lot of efforts are required. There are various factors that effect the business’ operations. An entrepreneur should carefully take decision on all such factors to ensure long term survival and growth of the start-up. One such important factor is the location of the business establishment. Selecting the appropriate location for starting the business is a tedious, time consuming yet crucial in development of business. Want to Design a Suitable Logo for Your Start-Up? Follow These 4 Tips to Make Effective & Attractive Logos.

There are several factor which influence the decision of selection the right location for your business and should be taken into account while picking up the best spot for the start-up. Here are four factors that an entrepreneur must consider before zeroing down on a place of business:

Nature of the Business

The nature of business is an important factor to be considered while deciding the business location. If the start-up is focused on manufacturing, then the business should be located in the place which is nearer to the raw material sites, so that a regular supply of inputs at reduced costs is ensured. Similarly, if its a B2C set-up then the business should come up at a market place that is easily accessible to the potential consumers.

Target Market Segment

Another important factor to be taken into consideration is that nature of target market. If the start-up is youth centric for instance cafes, electronic accessories, it is advisable to open the business in a popular spot. If the business is related to education and stationary, places near the college campus would be right spot.

Foot Traffic

For any business a regular foot traffic is important. Without regular and consistent foot traffic, a business will eventually fail. If the business is based on a retail model, then heavy foot fall is important for its survival’ Hence while selecting a location for the business, it is important to check the foot traffic in the area.Planning to Launch a Start-Up? Follow These 5 Tips to Select the Perfect Name for Your Business.

Location of Competitors

The location of competitors also has an influence of the location of the business. Ideally, start-ups should choose a spot that is near to the competitor’s location to take advantage of its excess customers. It also helps to create awareness about the business.

Establishing a business involves huge costs and is a long term decision. It effects the operations and functioning of the business. Hence, the entrepreneur should be very careful while selection a appropriate location for the business.

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Startup

Agri Startups in Chhattisgarh to Get Major Boost As State Gets 2 Incubation Centres in Raipur; Here’s How Budding Entrepreneurs Would Benefit

Agri Startups (Photo Credits: Pexels)

Raipur, January 24: In a bid to promote startups and innovators in agriculture and allied sectors in Chhattisgarh, two incubation centres have been inaugurated at the Indira Gandhi Krishi Vishwavidyalaya (IGKV) in Raipur. The inauguration was done virtually by Chhattisgarh Chief Minister Bhupesh Baghel on Saturday. During the event, Baghel said every university in the state should establish incubation and manufacturing hubs to promote new business ideas.

Here’s how the incubation centres will help agri startups in Chhattisgarh:

The incubation centres will provide infrastructure, technology, financial and business networking assistance to budding innovators and entrepreneurs in the agri-biotechnology and agriculture sector, a public relations officer of the IGKV said.

The Chief Minister underlined the role of youth across the state ‘Gadhbo Nava Chhattisgarh’ (create a new Chhattisgarh) campaign and said all educational institutions should work towards developing entrepreneurial skills in youth. The Biotech Incubation Centre and Agri-Business Incubation and Production Centre was inaugurated to mark the birth anniversary of freedom fighter Netaji Subhas Chandra Bose.

Baghel also laid the foundation stone for a new building of the biotech incubation centre, which is a part of the biotechnology park, a joint project of IGKV Raipur and state Agriculture department, he said. The project will be completed in two phases, the official said.

In the first phase, the new building of the incubation centre will be set up at a cost of Rs 30 crore in the university campus in the next two years, where 23 companies will be provided facilities for their offices and labs, he said. They will also be given technical and business networking guidance.

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MSME

MSMEs in India Will Get E-Portal To Sell Their Products, Govt Is Working With SBI To Launch Online Facility, Says Nitin Gadkari

Nitin Gadkari (Photo Credits: Facebook)

Mumbai, January 23: With an aim to facilitate the Medium, Small and Micro Enterprises (MSMEs) in India to sell their products, the government is working with State Bank of India (SBI) to launch an E-portal on the lines of Amazon, Transport & MSME Minister Nitin Gadkari said. At a webinar organised by All India Association of Industries President Vijay Kalantri, Gadkari said that Amazon.com generates a business of around Rs 70,000 crore annually for Indian MSMEs at present. He added saying that this can be enhanced by a dedicated e-Portal to enable them complete with global brands.

Gadkari urged the MSMEs to spread their wings and said they must form joint ventures with start-ups or technology transfers from institutions like IITs or IIMs to compete on a global scale. The Minister asserted that the government aims to increase the share of MSME sector in total exports from the current 48 percent to 60 percent in the coming years. Gadkari said that this would go a long way in boosting the Atmanirbhar Bharat programme of Prime Minister Narendra Modi. He said in order to protect the interests of MSME vendors, the government has mandated public sector undertakings to settle their dues within 45 days of sale and also plan to introduce legislation to this effect.

On similar lines, the union minister said that the government is making efforts to increase the turnover of the village industry from the current Rs.80,000 crore to Rs.5-lakh-crore in next couple of years which will create jobs in rural, agricultural and tribal segments and eradicate poverty. Gadkari further highlighted the initiatives and innovations by his ministry, Gadkari said that they encourage development of high-quality, cost-effective but sustainable local products as import substitutes.

“Local MSMEs have developed indigenous paint, Khadi Prakritik Paint made with cowdung which is 50 percent cheaper than top brands, but is still world-class. A small unit can produce this paint with a capital investment of barely Rs. 15 lakhs,” Gadkari said.

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Startup

Planning to Launch a Start-Up? Follow These 5 Tips to Select the Perfect Name for Your Business

Tips for Naming Start-Ups| Representational Image (Photo Credits: Pixabay)
Representational Image (Photo Credits: Pixabay)

As per an old and highly popular saying, First Impression is the Last Impression. For a business, the name creates its first impression in the minds of people. It provides an identity to the firm. The name also helps in creating a unique position to the firm as well as its product. The business carries the name for years to come. It is associated with creating brand image, goodwill and developing a connect with the people. Hence, an entrepreneur needs to be very careful while naming the business.5 Billion Dollar Sales Strategies that will Boost Business Sales!

From incubation to implementation, for starting a business an entrepreneur has to face various stages and struggles. They usually overlook the most important aspect of business establishment, that is deciding a suitable name for the firm and end up picking up the first name that comes in their minds. Various factors effect the process of naming the business. Here are some tips to follow while deciding the name for your start-up –

Keep It Short

The business should have a short name, so that people grasp and remember it easily. People should be able to say it in one breathe. Ideally, the name of the business should be between 17 to 24 characters. It ideally should not have more than two words. A short name helps in creating more attractive marketing campaigns as well.

Go With Catchy Words

Another way to embed the business’ name in consumers mind is by making is catchy and quirky. Go for words and phrases which are appealing to the public at large. Try to make the name as relatable as possible. Do not use difficulty or ornamental vocabulary which is difficult for the people to grasp and understand. It will fail the purpose. Govt. of India Free Online Learning Program for Start-Ups.

Name Should be Easy to Spell

The name should be easy to spell and pronounce. People should not get confuse in its spelling. Use the original spelling of the word. Entrepreneur should avoid twisting or modifying the spelling of the name. Consumers should be able to pronounce the word as soon as they look at it, so that they are able to retain it.

Check for Domain Name Availability

If your business is on an online platform, before deciding the name the entrepreneur should run a quick check on the availability of the domain name. The name should reflect the business’ operations as well as its vision. It is important to make sure that the name is not similar to already established business that would create confusion and divert the firm’s customers to other website.

Feedback

One of the easiest ways to find out whether a name will work for the enterprise or not is by asking for feedback from the people outside the business circle. This can be done through social media campaigns or survey.

The process of selecting an appropriate name for the business involves various factors. An entrepreneur should consider all these parameters and choose a name that justifies the vision and mission of the business without compromising on its originality and appeal.

However, to establish a successful business, it needs more than just a perfect planning. Know the deep insights that can help you establish a profitable business with our Everything about Entrepreneurship. To know more about it, visit: https://www.badabusiness.com/?ref_code=ArticlesLeads.

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Startup

Govt. of India Free Online Learning Program for Start-Ups

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The Govt. of India initiative known as Start-up India is offering new businesses an incredible opportunity to learn the ways to establish, strengthen and grow their business. Its learning program is enabling thousands of startups to learn the skills to make their companies last for the long run in the highly-competitive market.

What is Start-up India Learning Program?

Start-up India, an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Govt. of India, provides a free online learning program for entrepreneurs. The motto of this initiative is to take start-ups of India to the next level with the help of structured learning.

Who initiated the program?

Start-up India scheme is an initiative by the Government of India that has been helping newly-started businesses to establish themselves in various ways. These include measures such as setting-up online portal and hubs to enable registration, grievance-handling, etc., and increasing the pace at which government procedures such as patent acquisition and registrations are done. The online portal of Start-up India has over 4 lakh users. Start-up India loan, another part of the initiative helps women entrepreneurs along with other underprivileged sections of the society such as SCs and STs with financing.

What does the program offer to aspirants?

The program consisting of 69 courses offers small and medium business enterprises with scope to boost their knowledge in a vast field of various business aspects such as technology, sales, security, management, and finance. It takes the learners on a journey of how the top 40+ founders of India started their businesses.

How can one register?

One can register for the 4-week training program by registering for it on the online platform of Startup India. The course aspirants have to fill a form asking for details such as name, email id, phone number, etc. along with the language they wish to pursue the program in.

Operating on a similar motto to make the country’s start-ups, SMEs and MSMEs reach another level of success through organized learning, Bada Business offers courses for companies, professionals, and students. Their Problem-Solving Courses namely “How to Start a Start-up” and “How to Scale a start-up” guide start-ups through the process of establishing and bringing growth to their business. Visit their website https://bit.ly/3c1ZyxT

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Finance

Union Budget 2021: Healthcare, Infrastructure will remain in the limelight!

budget 2021

After the country`s economy has taken a deep blow due to the pandemic, all eyes are on Union Budget 2021. The Union Budget 2021 will be announced by Finance Minister Nirmala Sitharaman on February 1.

The country experts are expecting that the government will take corrective measures to support, revive and boost the economy. Amidst the ongoing pandemic and slowdown of the economy, various industry professionals are also expecting a reduction in GST rates.

The Union Budget is typically classified into Capital, Revenue, and Expenditure budget. The Budget also provides a blueprint of how much money the government is expecting to raise in the coming fiscal and where it is planning to spend it.

For 2021-22, Finance Minister Nirmala Sitharaman has said that the budget will be nothing-like-seen-before. The budget will also see massive investment and expenditure push for sectors like infrastructure and health sectors. Along with these two, other sectors like real estate, railways, and construction too, are expected to be in focus in the budget.

According to Rahul Singh, CIO-Equities, Tata Mutual Fund, “the government will focus on the economic recovery of the country as the upcoming budget will provide the acceleration”.

“The Government can plan its expenditure based on the strong recovery of the economy in nominal GDP growth in FY22, and tolerance for fiscal deficit, even though it will be materially lower than the FY21 levels”, he added.

“We are also expecting the focus to be on other sectors like healthcare, housing, and infrastructure. As the low-interest rates and stable real estate prices have improved affordability, the revival of the real estate sector is also on its way. Production linked incentive (PLI) scheme has been successful earlier, and a further momentum can be imparted by dedicated export zones with associated infra and easy approvals”, Singh further added.

“As there have been many significant changes to the tax structure in the last 2-3 years, hence the government will only make incremental changes. On the reform front, the Government might focus PSU reforms that will also include banks and privatization as one of the most important areas to raise capital over the medium term”, he said.

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Sales

5 Billion Dollar Sales Strategies that will Boost Business Sales!

Billion Dollar Sales Strategies

The world of marketing has become quite competitive, especially for small businesses that are still in the early stages.

Believing that you have the ultimate skills to sell anything to anybody is a market trap you must avoid. Instead, identify your ideal customers and their urgent problems and you will find it easier to sell your products and services.

Selling can be challenging. It is quite a complex process with no shortcuts, as you have to deal with real people. Having the right sales strategy can make a huge difference to your startup business.


From identifying the profitable niche markets to perfecting your email marketing outreach, knowing how to hit the right chord is extremely important for an entrepreneur to grow a business.

Effective sales techniques do not have to be a gimmick. Instead, they are the simplest ones because they are based on customer behavior. Here are 5 powerful sales techniques that will get your customers to buy your services & products:

  1. Ask the Right Question

First off, do not try to sell. Instead, try to ask the right questions to know your customers and the areas that can be improved upon. Try to know the urgent problems your customers are facing and based on those answers, offer a value that is relevant to the services and products you are representing.

  1. Focus on Customer Goals

If your sales technique does not offer anything that can resolve the customer`s burning problem, it won`t work. Sales gimmicks do not work in the long run as human beings do not like to be manipulated.

So keep the customer`s vision and goals at the core and then try to provide an apt solution. This technique works almost all the time.

  1. Add Real Value

Nobody wants to spend their money on a product or a service that does not offer real value. Hence, always demonstrate that you are providing meaningful value to your potential customers.

If the value outweighs the cost, he or she is likely to purchase the product from you. Focus on providing tangible values to your customers and your customers will be more than happy to buy your products.

  1. Articulate End Results

People don’t buy just products or services, they buy results. Once you have caught their attention with what they will be able to achieve by using your product, it is now your role to explain the benefits. This sales strategy is relevant especially if you are selling a product or a service. Combine it with a hidden command approach and you are ready to roll!

  1. Create Urgency

If you have a business that sells products, this technique can be beneficial for you. Create hype among the customers by using the takeaway close approach. As most people have a fear of missing out on something trendy, pressure sales techniques can help to create urgency. This will make your products desirable.

How you sell yourself is quite different than how you market yourself. A right and spot-on sales technique can be an incredible boon for your business`s net income.

If you too are experiencing a drop in your sales, you can learn powerful sales techniques with our Problem Solving Courses. Gain deep insights and knowledge from top industry experts about sales techniques that will help you grow your business.

To get exclusive offers and details about Problem Solving Course, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads.