Want to Scale up your Startup? Here are 5 Simple Steps to Rely on
Our Country's business revolution has made way for the emerging SMEs, and currently, India is estimated to have 42.5 million registered and unregistered startups. This growing number has also lead to tremendous competition in the startup ecosystem. The KMPG's survey on the Indian startup ecosystem released early this year is proof of this. According to reports, the Country observed a rise in the startup's registration from 7000 in 2008 to 50,000 in 2018. The government of India is further expecting another 50,000 SMEs registration by 2024. It might be easy to conceive an idea to set up a startup. But, converting the ideas into prototypes and then transforming them into a functional model is quite tasking, which also involves a lot of risks. The IBM Institute for Business Value & Oxford Economics in its survey reports have stated that about 90 percent of startup fails within its first five years, as it lacks innovation. To avoid such ill fate, lets quickly glance through a few simple steps to upscale startups and businesses.