Tag: startup

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Startup

LPG Distribution Business: Here’s Why You Can Start a Gas Dealership Business For a Regular & Profitable Source of Income

Gas dealership agency
Gas dealership agency (Photo Credits: Wikimedia Commons)

Mumbai, November 23: If you have some money in hand and have been thinking of starting a new business then there is one idea which is extremely profitable. You can think of getting a dealership of a gas agency.

Gas companies run dealership programs from time to time. You can do this business by taking a dealership. Gas companies need dealers in every city and village to expand the distribution network.

These three companies issue advertisements and notifications from time to time to find dealers. You have to apply for them. To apply, it is necessary to be a class 10th pass.

Starting a gas agency is not a difficult task, one just needs some money to start it. The price may vary according to your city, village. In addition to this, there should be enough space for the gas agency.

Indane is the biggest LPG cylinder provider in the country followed by HP and BP. It is a highly lucrative business because there is a huge demand for it and also, there is no need to market.

However, it is very important to remember that since it is a service industry, it is very difficult to please the customers, who keep on complaining about the long waiting hours and other problems.

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Startup

5 Venture Capital Firms that Provide Easy Funding to Start-Ups

Funding
Funding (Representational Image) (Photo Credits: Pixabay)

Bangalore, November 19: The start-up ecosystem in India has been growing manifolds over the past few years. It is widening the ambit and entering newer industries every day. From tech to hospitality, entertainment to education, automobile to consultancy, start-ups are increasing in both online and offline space.

However, most start-ups miss out on one of the most crucial aspects of a business – The Seed Capital and fall prey to financial distress that eventually leads to winding up of the firm. Financial soundness is necessary at all life stages of business.

It ensures that the operational cycle runs smoothly without any blockages’ or stagnations because of lack of funds, hence resulting in the efficient functioning of the business.

One of the biggest challenges a start-up faces is the adequate procurement of funds at low cost and easy payback terms. Various venture capitals, private equity firms, corporate investors, in the past few years, have become progressively interested in putting their money in potentially viable start-ups. Unlike old times, a viable idea sells better than the brand or company name in the financial markets. Many blue-chip companies including Tata, Wipro, RIL have also been investing and promoting the newbie’s in the market.

Here are Five Venture Capitals that have been increasingly showing faith in start-ups and investing heavily in them:

1. Accel Partners:

Headquartered in California, Accel Partners is one of the oldest and most successful venture capitalists in the markets. It has invested in more than 1,460 firms through its 29 funds. It
provides funding to start-up at entry, growth and maturity stages. In India, Accel Partners have closed around six funds, including a recent worth $550 Million.

It’s one of the main investors of Flipkart and Swiggy. Other important investments include Freshworks, BlackBuck, Bounce, BookMyShow, etc. It mostly invests in infrastructure, mobile & software, internet and consumer service firms.

2. Blume Ventures:

Blume Ventures is an early stage and seed stage tech-focused venture fund founded in 2010. It launched its first micro-VC fund in 2011, becoming the first institutionalised early-stage investor at that time. Blume Ventures have closed four funds till now, with around $225 Million under-investment. It closed a fund worth $102 Million in April 2020, before the COVID-19 lockdown started. It has invested in more than 60 startups including, Dunzo, Unacademy, Instamojo, Procol, HealthAssure, Milkbasket. It mainly invests in online platforms across sectors.

3. Matrix Partners:

It is a US-based private equity firm that funds start-ups for seed capital as well as early-stage requirements. It has invested in around 549 firms across the world and has investment worth $4 Billion as an asset under management. The PE firm entered India back in 2006. It had closed its last India-focused fund at $300 Million in January 2019, eight years after it raised its second fund. Its notable investments include Avail Finance, Vogo, DailyNinja, Stanza Living, MoEngage, among others. The firm mainly focuses on the following sectors entertainment and media, consumer internet, SaaS, e-commerce etc.

4. Nexus Venture Partners:

It was founded in 2006 and is estimates to have $1.5 Billion as an asset under management. The firm makes investments in early-growth stage companies with an average ticket size of $500K-$10 Million. It raised $100 Mn in its first fund and closed its fifth fund at $450 Million in May 2019. It has invested in start-ups from different sectors including, WhiteHat Jr, Delhivery, Rapido, Unacademy, Druva, Jumbotail, Bolo App, Pratilipi, Zomato. The firm focuses mainly on online ventures.

5. Tiger Global Management:

It is one of the biggest players in the market and invests money heavily in both private and public sector ventures. It provides fund at growth, maturity and post-IPO stages. The company is said to have invested in nearly 442 companies across the globe through its seven designated funds. It has invested in more than 90 start-ups in India. In the first half of 2019, Tiger Global Management has invested nearly $300 Million in India across 13 companies. Its major investments have been in Urban Company, Flipkart, Moglix, OPEN, Ninjacart, Razorpay. The firm mainly invests in the following sectors- internet, software, consumer,financial technology.

A regular and adequate source of finance is highly crucial for a start-up to sustain and grow and in the present age, the market offers different kinds of funds and plans. A start-up can easily look for a reputed VC and ensure regular flow of money for business development.

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Business motivation

5 Steps You Can Take to Get Your Business Off the Ground

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, November 17: Starting a business can be a daunting task and more so amid the coronavirus outbreak. There are several things which one needs to take care of, from the right idea to proper marketing, everything needs to fall in place for a business to take off.

The process of starting a business is always filled with challenges. Therefore, it is very important that you should be prepared before you take the final leap. The success of a business is never guaranteed, but there are few changes which you can do to reduce the risks and improve the chances of your business in being successful.

We have curated a list of 5 steps which you need to take before you get your business off the ground:

1. Think of a unique and a great idea: Think of a unique idea for your business and ask yourself how will my product be different from thousands of products which have already cluttered the market. Try to offer the customers something which they haven’t experienced before. Also, the product should solve the customer’s problem and then only will they be able to relate with your product.

2. Define your business: This is another critical step. Before you start a business, it is very important to understand how much time (and money) you’re willing to devote to your new venture. Also, a few other questions which you need to answer is that will you have a brick and mortar store or only have an online presence.

3. Study the market & competition: Do extensive study before launching a product in the market. Try to understand if there is a demand for your product. Never underestimate your competition. Always learn from their strength and also be aware of their weakness and understand the space where your product will be able to enter.

4. Check your finances: It is very important to track your finances from the get-go. Spend wisely and only on things that are required. Every business takes time to start off. The initial few days to a year might be full of struggles, so save your finances for tough times ahead. Keep an eye on your finances, so that midway, you don’t have to wind up your business and exit the market.

5. Keep Your Plan B Ready: Always keep a plan B ready before you start your business. One can never predict the challenges which can crop up and pose a hurdle in the path of growth. For e.g. no one could predict that coronavirus could get the world to a grinding halt. Several businesses shut due to the lockdown and thousands were left jobless. However, the ones which had a plan B ready could sail through the crisis period.

We hope that these steps will come in handy when you are thinking to get the business off the ground.

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Startup

Planning to Start a Clothing Business? Here Are 5 Creative Ideas You Can Consider Before You Start

Clothing Business (Photo Credits: Pexels)

If you have always been fascinated with opening up an apparel store or starting up with a venture related to clothing and you have a good taste of colours, go for it! Opening an apparel store is serious business. If you are so confident of your style that you need to share that good taste with the community, clothing business is the thing for you! It is a business that will never lose its essence as people will always be in for fashionable outfits. Also, once you have made a brand identity of your product, your clothing business will prosper and attract more people during the festive season.

As clothing is everyone’s basic need, the business related to it will never be out of fashion. If you start a clothing business with a right business plan, you can manage to mint money in no time. The most important thing that you need to consider is, which type of clothing business can benefit you the most and find ways to explore the business by targeting the right target audience. There is always a demand for clothes and if you are determined enough and have good contacts, the business can prosper and flourish in just a few years.

5 Ideas to Start Clothing Business

  1. Readymade Garment Store

Decide what niche is your focus. It should be something that interests you, so you have enough passion for your clothing business. Readymade clothing store can be a really good option, if you are looking to start a clothing business. The most beneficial thing in opening a retail store is that you can keep clothes as per your choice. If you open a clothing store in a busy market, you are bound to make a lot of profit. You can keep clothes in your store according to season and fashion trends.

  1. Online Clothing Business

Like we all know, the clothing business functions online. In times of the pandemic that we are reeling in now, online clothing business can prove really beneficial as there is no chance of physical contact with anyone. Online shopping is now becoming popular and is a common trend as people look for things online. People also have a lot of options to choose from among a variety of things. You can create your own website and start the online clothing business.

  1. T-shirt Printing

If you are creative and you think of putting your creativity into use, you can start the business of printing t-shirts. Printed t-shirts are always in trend. While some prefer plain t-shirts, most people like wearing printed ones. The t-shirt printing business can be beneficial as people are always attracted by abstract designs and decent prints for daily use. There are many ways of printing T-shirts but training is required to learn these methods.

  1. Rental Clothes

You can always opt for the business of renting clothes, which is also very beneficial. You can also start this business from a small level. There are many clothes that people do not like to buy forever, that is why people think of rental options. Rental clothes are also becoming a trend during marriage functions and other events as people don’t really want to spend a lot of money buying designer wears for a day. You can always rent out the same dresses to different people and make profit. It would be a one-time investment for the buyers, as he will have tp buy the outfit once and then rent it out to people who look for it.

  1. Make Baby Clothes

Baby clothes never go out of fashion. They are always in trend. Baby clothes make us coo with adoration. The baby clothing business is constantly in demand strand of the fashion market is crying out for creative designers to bring us more adorable baby clothes.

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MSME

MSMEs Show Signs of Recovery, All Eyes Now on Diwali 2020 to Bailout the Stressed Sector

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, November 3: The coronavirus pandemic has been extremely difficult on every business, and India’s MSME sector is one of the worst-hit. The sector which has about 70 million enterprises and employs around 110 million people is battered due to the lockdown.

From factories being shut down, and freeze in the production, it is the small companies who are facing the heat of the pandemic. All eyes are now on Diwali 2020, from which they expect the sales to recover and help them to bounce back.

With the ease in the lockdown restrictions and with the economy opening up, business is taking place. According to a Financial Express report, retailers in majority sectors are yet to recover back to the year-ago level, and businesses in consumer durables and electronics seem to be scaling back relatively faster.

Some of these sectors like- sports goods, furniture, jewellery, footwear, food and grocery have still not managed to hit October 2019 level growth, according to the survey done by the Retailers Association of India.

While all hopes are pinned on the Diwali season, but according to reports, the demand continues to be low as people are sceptical of going to shops and making their purchases. On the other hand, customers are extremely careful in terms of spending as well.

 

 

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Startup

Shell India Plans to Engage With At least 30 Startups Every Year From 2020 Through Its E4 Programme, to Help Them Scale Their Business

Startup
Startup (Photo Credits: Pixabay)

Bangalore, November 9: Shell India is planning to engage with 25-30 startups every year from 2022 onwards through its E4 Programme. The objective is to help them scale their business.

According to a PTI report, Shell, under E4 Programme, incubates and supports startups via various modules of linking talent, technology, capital and know-how to accelerate India’s transition to a sustainable energy future. Over the last 3 years, the company has been able to engage with 30 startups and supported them with investments and mentoring at Shell campus located in India.

Shell E4 Programme, general manager, James Unterreiner as quoted in the PTI report said, “We have 30 start-ups now that have come through the E4 program and we’re in the process of adding 10 to 12 more that’ll start the program in January. We’re planning on ramping the program to 25 to 30 annually. So, the first couple of years have been a slow ramp to get there and now we’re at that run rate where we expect 25 to 30 annually.”

Shell has been working hard to ensure that energy startups become commercially viable, where they can engage with investors and corporates.

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Business motivation

6 Steps To Register Your Private Limited Company In India

Wish to be an entrepreneur in India? Starting this journey can be overwhelming as well as scary at the same time. There are many steps to be considered before you step up out and start your venture. So, when you are planning to plan your own business, you need to work on deciding what kind of entity it will be.

Like if you wish to own the business by yourself, then you can register your startup as a sole proprietorship. Similarly, you may register for a partnership. But if you wish to separate your liability from the company’s liability, then you should go ahead with private limited company registration.

In this structure, you need to choose the amount for taxes, paperwork, and the amount of personal liability to be distinguished clearly.

Here are a few steps that can help you to understand Private Limited Company registration processes in India.

Step 1: Get Digital Signatures (DSC)

The digital signature is one you require to file the forms for company registration. This process is online, and the forms need a digital signature. DSC is one of the mandatory for any subscriber and witness in the memorandum and articles of association. You can obtain the digital signature certificates from the government recognized certifying agencies.

If we talk about the costing of DSC depends on the certifying agency you work. You need to obtain either Class- 2 or Class- 3 categories of DSC. In this process, the person needs to present him or herself before registering authority to prove their identity.

Step 2: Apply Director Identification Numbers (DINs).

The Director’s ID number or DIN is a unique eight-digit ID number that is issued by the central government to each person who must be a director of a business or who is already a director of a business. It must be obtained by those wishing to become directors of a company. A single DIN is sufficient for an administrator in several enterprises.

Step 3: Name Approval

The company name is something that gives recognition to the brand. So, getting approval is important. For this, there are two procedures for acquiring the approval for the company name.

One process is to apply the name through INC-32 (Incorporating Company) but, in this process, only one name can be in this form. Therefore, make sure you have the proposed name should follow the name availability guidelines, existing trademarks to avoid rejection. Another process is by filing INC-32 it is a faster process than the INC-1 route.

Step 4: Information About Form INC-32

Recently, the Ministry of Company Affairs proposed Form INC-32. It is an explained pro forma for incorporating a company electronically.

It solves, the three purposes with the benefit provided in a single application:

  • Application for allotment of DIN (Director Identification Number)
  • Reservation of company name
  • Incorporation of a new company

Step 5: Information About INC-33 and INC-34

Both forms have been introduced, to facilitate the Indian company registration process. INC- 33 refers to an electronic Memorandum of Association, and INC- 34 is electronic Articles of Association

The memorandum describes the company charter, while the bylaws include the company’s internal rules and bylaws. Before the completion of both forms physically and now, you can complete these forms online and must include digitally signed subscribers to the memo and statuses.

Step 6: PAN and TAN Application

When you apply a single Form INC-32, you may submit an application for the company’s NAP and TAN uses Forms 49A for the NAP and 49B for the TAN. Once you have submitted Form INC-32, you can automatically generate the form(s). After forms download, please remember to attach a digital signature and upload it to the ACM portal. Upon completion of all details, the registration will get approved by the MCO, and a Corporate Identity Number (CIN) is issued. It is possible to follow up on-line through the GAC portal.

These six steps will help you to register yourself to set up a Private Limited Company in India.  Once you intend to register your company, you can get all information at the Ministry of Corporate Affairs online.

 

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Startup

What is the Difference Between a Startup And Small Business Venture? Here Are 3 Key Differences

Startup Vs Small Business Venture
Representational Image (Photo Credits: Pixabay)

Bangalore, November 5: Startup is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable economic model. A startup is often confused with a small business, however, there are key differences which one needs to understand in how they function.

Amid the tough market conditions, it is difficult to run a small business and more difficult is to see a startup grow.

Growth Plans

Startups are different from small ventures mainly because they are designed to grow fast on limited resources internally. Startups have an essential need for rapid growth.

Small businesses also seek growth, but more conservative growth which includes creating reliable, long-term income streams.

Funding:

Apart from having different growth strategies, startups seek financial investment differently than most small businesses. Startups rely on capital that comes by means of angel investors or venture capital firms. On the other hand, small business ventures may tend to rely on loans and grants from financial institutions.

A startup requires constant investment at every stage of their growth, which will help them to reach the next level. This is the reason, why user number metrics are so important to startups as they indicate what percentage of their target market has been achieved.

Risk-Taking Capability

Compared to small business ventures, startups have an aggressive risk-taking capability. A startup undertakes several risks like- product risk, market risk and financial risk. For a startup, it is also very important to know their customer and why, how and where they buy related products is arguably the most important risk factor to assess before launching the product. For startups, the risk is mainly tougher because the product is new and it will be a different experience for the public.

Small businesses also take risks, but they are usually of a different nature. The time to prove their success in the market is usually more.

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Startup

COVID-19 Impact on Women-Founded Startups: Funding Drops 24% in H1 2020

Startup
Startup (Photo Credits: Pixabay)

Bengaluru, October 29: The coronavirus pandemic has affected everyone, from businesses being shut to people being offered pink slips. It has not been a great time for women-founded and co-founded startups. According to an IANS report, funding fell 24 percent to $280 million in the first half of this year, compared to $369 million in the same period last year.

It was witnessed that finding declined across all the three stages- early, growth, and late — compared to H1 2019, said the report by MAKERS India. The report titled “State of Women in Tech Entrepreneurship in India 2020” shared that many women-led startups in order to stay afloat in the middle of the pandemic scaled down their operations or pivoted their business models

There were a few women, who infact branched out to different operations. Like women behind some apparel startups branched out to manufacturing protective face masks and PPE kits.

The positive news was that despite Covid-19, startups with at least one woman founder were able to secure 71 funding deals in H1 2020, at par with H1 2019 (70 deals) and H1 2018 (70 deals).

The study highlighted an interesting trend that between 1990 and 2010, only 26 startups had at least one woman founder. However, 75 startups added at least one woman founder by 2014 and 184 more by 2019. Female-founded and co-founded tech startups in India currently stand at 285.

 

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Startup

Nazara Technologies, Gaming Startup Backed by Rakesh Jhunjhunwala Plans to Launch IPO Soon

Nazara Technologies
Nazara Technologies (Photo Credits: Company Logo)

Mumbai, October 29: Nazara Technologies, Rakesh Jhunjhunwala-backed startup is planning to soon launch its IPO. The Mumbai-based mobile gaming company informed its shareholders about its plan to go public in a letter earlier this month.

According to an ET report, the company will soon file the draft red herring prospectus (DRHP) with markets regulator Sebi. The issue size is yet to be decided, however, some traders estimate the IPO price to be around Rs 950.

The report further mentions that shares of Nazara Technologies have almost doubled in the last six months in the unlisted market. The unlisted shares traded at around Rs 750-800 this week as against their April price of Rs 400-450.

Earlier this year, Nazara Technologies announced that it has completed its majority stake acquisition of Paper Boat Apps. Nazara acquired 51 percent of Paper Boat Apps, issuing shares worth Rs 43 crore as a part of its final tranche of the acquisition.

Nazara is a free-to-play kids games publisher with 20 million monthly active children playing, and over 180 million downloads on Google Play and App store. Nazara’s network comprises of World Cricket Championship, Halaplay, and Nodwin Gaming.