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Startup

Start-Up Ideas: Here are 5 Businesses You Can Establish and Run Under Rs 20,000

As the start-up ecosystem in the country is blooming, more and more individuals are looking to establish and run a business of their own. They are quitting their secured and salaried jobs and venturing into a world of uncertainties yet extremely rewarding Start-Ups. The start-up mania is not only restricted to the larger places in the country, many highly talented and skilled people from tier – I and tier-II cities and even rural areas are planning to start their own business.  One of the most important criteria while making the decision about establishing a start-up is the availability of funds. How to Start a Coffee Stall Business Under Rs. 20000.

Many start-ups find it difficult to survive in their initial days owing to shortage of funds or irregularities in funding. Some of the people who want to start their own business also give up on their dreams owning to lack of adequate funds. However, there are certain businesses which can be started without much investment. Here are 5  start-up ideas to establish and run business under Rs 20,000

Bakery 

If you have a knack for baking delicious and mouth watering cakes, cookies, pancakes, chocolates among others, starting a bakery is the perfect idea. Home-made food items are especially bakery items are in huge demand. More and more people are avoiding ordering cakes from commercial bakeries and looking for home made alternatives. Opening a bakery is a perfect low cost idea for people looking to start business below Rs 20,000.

Ice-Cream Palour 

Another food related business idea which is low cost as well is to a ice-cream palour. You do not need an elaborate  or lavish set-up to start the business at least. One can place the order on credit with any supplier. The initial investment requires a good refrigerator and a little advertising about the launch of the shop and wait for the inflow of customers. February 2021 Shubh Muhurat Dates: Lay foundation for New Business venture on these auspicious dates.
Candle Making 

Different varieties of candles are very much in demand. They are used to give as gifts, mementos, saviours among others. Various scented candles are highly popular these days. A bit of creativity and artistry is all what you need to have to start this low cost and investment business.

Pottery Articles 

These are people are moving towards more eco-friendly products. The demand of pottery products is increasing. It is an extremely low cost business idea to start any time. All of new to have is some mud, a potter’s wheel and knowledge of pottery making.

Pet-Care Centre 

If you are found of pets and like to spend time with them, then you can start a pet care centre. If does not require much investment just a spacious arena and few facilities. It is extremely well paying as more and more pet owners look for well equipped and furnished set-up  for their beloved pets.

These are some business ideas which you can undertake to establish and run the business successfully without any hurdles and without worrying about the sources and regularity of funds.

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Startup

Amazon Partners With Startup India and Others To Help Startups Reach Global Audiences; Here’s All You Need To Know About the Startup Accelerator Programme

In a bid to help early-stage startups take their brands to global audiences, Amazon has partnered with Startup India, Sequoia Capital India and Fireside Ventures. The collaboration, announced on January 19, will launch an accelerator programme to help and guide the startups. As part of the Startup Accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, VCs and senior leaders from Startup India. The application process will be open for about three weeks, following which 10 startups would be chosen for the accelerator.

Here’s How the startups will benefit from the Startup Accelerator

  1. Amazon will provide the support for these startups to launch their products worldwide through its exports programme – Amazon Global Selling.
  2. These startups will then get an opportunity to showcase their business proposition to partner VC firms – Sequoia Capital India and Fireside Ventures and three of them will get a chance to win a total equity free grant of USD 50,000 from Amazon.
  3. Amazon will also host open virtual mentorship sessions focused on peer learning by inviting veteran entrepreneurs and members from its mentorship board for startups, to network and learn from their existing ecosystem.
  4. Abhijit Kamra, Director – Global Trade at Amazon India, said that the programme will feature a six-week 1:1 mentorship module for the shortlisted participants where they will get to interact with Amazon leaders from India and worldwide and get firsthand knowledge on building and scaling up exports business through e-commerce.

The Amazon Global Selling Propel (AGSP) programme has been designed to support early stage startups (raised funding in post seed to pre-series A stage, if funded) in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling programme.

Deepak Bagla, MD and CEO of Invest India, said that the adoption of technology and digital transformation has paved the way for India to be at the forefront of innovation, giving rise to some of the best startups in the world. He said there are many promising, emerging brands that have the capability to become big and go global. Bagla said that his is a timely initiative by Amazon which can prove to be a big stepping stone for startups to build their business and get access to global markets.

Launched in 2015 with about 100 exporters, Amazon Global Selling today enables more than 70,000 Indian exporters to sell ”Made in India” products through its 15 international websites and reach customers in countries such as the US, the UK, UAE, Canada, Mexico, Germany, Italy, France, Spain, Netherlands, Turkey, Brazil, Japan, Australia and Singapore.

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Startup

Mastercard`s Swipe makes this Indian Startup Nation`s First Unicorn Company in 2020

In January 2020, India received its latest entrant into the unicorn club- Pine Labs, a startup valued at over $1 billion. After 22 years, since its inception, Pine Labs was the first to join the unicorn companies in India in 2020.

Pine Labs raised an undisclosed amount from New York-based financial services major Mastercard at a valuation of approximately $1.5 billion. Although the details related to the transaction were not disclosed, the funding round is estimated to be at $100- $150 million.

Founded in 1998 by Rajul Garg, Lokvir Kapoor, and Tarun Upadhyay, Pine Labs was initially launched as card-based payments and loyalty solutions provider. However, it was in 2009 that Pine Labs` real journey was started.

The founders of this Noida-based startup realized that the merchants were looking to find solutions to enhance their customer engagement during the payment process. Thus, they ventured into the traditional payments space intending to provide solutions to merchants by providing a point of sale (PoS) machines.

Pine Labs is not a brand that resides in your pocket. However, the chances are that you might have come across a point-of-sale (PoS) machine from Pine Labs while making a payment. It acts as a gateway to data that every merchant or business owner likes to store about their customers to understand them better.

Even during the COVID 19 pandemic, Pine Labs has recorded almost a 67 percent jump in monthly merchant onboarding due to digital transformation. From 12,000 every month to 20,000 merchant- onboarding in the last few months, Pine Labs has witnessed rapid growth.

Given that Pine Labs is over two-decade-old, many might say Pine Labs is not a start-up. However, the founder of the company thinks a little differently. According to Executive Chairman & Former CEO Lokvir Kapoor, Pine Labs still has the DNA of a startup because of the innovative measures and the agility it has always demonstrated.

Lokvir took over as CEO after Tarun Upadhaya and Rajul Garg left Pina Labs. He then spent the next 10 years taking the organization into the fintech world.

He stated, “there was a time when banks offered a counter sales terminal to merchants and the transactions carried out over a phone line. There was a gap in terms of what the merchants and the market needed from a payments technology solution, and what the banks were able to offer”.

To cater to their customers` needs, Pine Labs zeroed in on this gap by becoming a technology partner for several banks. It began providing merchants with PoS devices. Banks, in return, started referring Pine Labs to merchants.

Pine Labs has a versatile list of clients, which also includes the Future Group and Shoppers` Stop as its earliest clients.

Want to read about more success stories of Indian startups that have become unicorn companies in 2020? Then visit www.news.badabusiness.com.

If you need expert guidance to establish your startup, learn about our ‘Everything about Entrepreneurship’ course, which is designed specifically for upcoming entrepreneurs. Visit https://www.badabusiness.com/?ref_code=ArticlesLeads now!

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Women Entrepreneurship To Get Major Boost As Telangana’s WE Hub and Gujarat’s I-Hub Join Hands To Support Startups in Raising Capital

Hyderabad, January 18: In a bid to give a major boost to women entrepreneurship, Telangana’s WE Hub and Gujarat’s i-Hub have collaborated to help female entrepreneurs. The pact aims to encourage and support startups in raising capital. WE Hub is a State-run platform for Women Entrepreneurs in Telangana while i-Hub is an incubation set up of the Gujarat Government. As part of the MoU, as many as 240 women entrepreneurs will be selected for the pre-incubation program and a total of 20 will be shortlisted for the co-incubation program.

Here’s how the women entrepreneurs would benefit from the Collaboration:

  1. The partnership will initiate pre-incubation program for 240 aspiring women entrepreneurs in the EdTech, MedTech and Fintech sectors in the states of Telangana and Gujarat.
  2. Post three months of pre-incubation program and after rigorous interventions a total of 20 entrepreneurs will be selected for the final virtual/physical co-incubation program.
  3. This co-incubation brings in the startups the opportunity to scale up to viable enterprises and receive solid scale-up rapid growth mentorship from the leaders at i-Hub and WE Hub.
  4. The startups will also have Government supported exposure visits across Telangana and Gujarat, the pact read.

On Saturday, an MoU was signed by Jayesh Ranjan, Telangana Principal Secretary, IT and Industries and Anju Sharma, Principal Secretary Higher and Technical Education, Gujarat.

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Startup

Start-Up India Seed Fund: PM Narendra Modi Announces Rs 1,000 Crore Seed Fund to Help Start-Ups With Initial Capital for Growth and Operations

To provide impetus to the start-up ecosystem in the country, the government has announced seed fund for start-ups worth Rs 1,000 Crore. The fund will be set-up under the name  ‘Startup India Seed Fund.’ Seed capital is the investment required by any firm in the beginning of of its business cycle. PM Narendra Modi while addressing the Prarambh Startup India Summit via video conference announced the launch of the fund. It has been initiated to help startups with the initial capital for growth and operations, and help budding entrepreneurs peruse innovative ideas. Prarambha: Everything you must know about the Startup India International Summit!

“Going ahead, the government will provide guarantees to help startups raise debt-capital. We are trying to build a startup ecosystem which functions on the ‘of the youth, by the youth, for the youth’ mantra,” the Prime Minister Narendra Modi said while speaking at the Prarambh Startup India International Summit in an online address. PM Modi also said the target for India’s startups over the next five years should be to become global giants in their respective service areas.Kerala Government’s NORKA-Pravasi Start-Up Scheme Helped 4,179 Expatriates to Establish Business in the State.

The centre has been encouraging the start-ups to seek investment through borrowed funds or debt capital. The government has also been implementing the Fund of Fund Scheme to help startups raise equity capital, added Prime Minister.  11 Indian start-ups have entered the unicorn club- businesses with a valuation of Rs 1 Billion or more- in 2020 itself.  PM Modi also said that the start-up environment is not limited just to big cities, adding that about 40 per cent of entrepreneurs come from tier-II and tier-III cities. There are more than 41,000 start-ups in the country.

The Startup India Seed Fund comes after the Ministry of Electronics and Information Technology had earlier in 2020 had initiated a similar fund to identify startups and give them financial help. In August, the ministry had launched a fund to identify 300 startups which would be provided seed fund of up to Rs 25 Lakh and other facilities as well. A budget of Rs 95.03 crore has been earmarked for the programme named ‘Chunauti’, to be spent over a period of three years.

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Startup

How to Register a Private Limited Company: Things you Must Know!

From a handful of tech-ventures to 29K startups in 2014 to around 55K startups by the end of 2020, The Indian startup system has developed and grown by leaps and bounds in the past decade.

Although the COVID 19 pandemic has delivered a brutal blow to the startup system, it has also acted as a catalyst for many to reimagine, recreate, reengineer, refocus, and reappear.

With around 12 Indian start-ups joining the league of Unicorns in 2020, more and more local entrepreneurs are pushing themselves to become self-reliant.

According to the Department for Promotion of Industry & Internal Trade, there were around 24,927 companies were recognized as startups in November 2019. And during the pandemic, the Indian startup ecosystem has emerged even stronger with 39,114 new startups in early November 2020.

reference https://inc42.com/resources/registering-your-company-a-step-by-step-guide/

If you are planning to start a business and register it as a private limited company, here are the key steps that will ensure a successful company registration in India.

But first things firsts! What exactly is a private limited company?

A private limited company is a privately-held business entity. Though it is held by the private stakeholders, the partnership extends only up to the number of shares held by them. The governing body for such a company is the Ministry of Corporate Affairs (MCA).

Here is a list of mandatory things for the company registration process:

Members & Directors: For a company to get registered, it must show a minimum number of two and a maximum number of 200 members. This requirement is mandatory according to the Companies Act 2013.

Name of the company: This is often considered the most technical task, which is also the most difficult. A private limited company is required to cover the three aspects while deciding a name such as Main name, Activity to be carried out, and mention of PVT. Ltd in the end.

Registered office address: The permanent address of the registered office must be filed in the registrar of the company, once the company has been registered.

Important Documents: For electronic submission of documents, the registered company must obtain a digital signature certificate. A digital signature certificate helps to verify the authenticity of the documents.

Steps to form a Private Limited Company:

Step 1. Obtain DSC (Digital Signature): As we mentioned earlier, DSC is required to file the forms for company formation. It is mandatory for all the subscribers and witnesses in the memorandum and the articles of association. As the company registration process is online, the forms require a digital signature.

Step 2. Apply for DIN (Director Identification Number): DIN is an identification number for a director. The business owner who wants to be a director of the company must obtain DIN. One DIN is sufficient to be a director in any number of companies.

Step 3. Name Approval: Decide a name and apply for the registration. There are two methods- RUN (Reserve Unique Name) and SPICe (INC-32). In the first method, the applicant gets only a single chance. Once rejected, the applicant will not get a second chance to apply. The applicant will have to re-file another RUN with the prescribed fee.

In the case of SPICe, the applicant will get a second chance of approval, in case of rejection due to the non-approval of the name.

Step 4. E-MoA (INC-33) and e-AoA (INC-34): e-MoA refers to an electronic Memorandum of Association and eAoA is electronic Articles of Association. These forms were introduced to simplify the company registration process in India.

Memorandum represents the charter of the company, while articles of the association represent the internal guidelines, rules & regulations of the company.

Step 5. PAN & TAN Application: Through form SPICe, an applicant can also apply for the company`s TAN and PAN. Form 49A is used for PAN, and form 49B is used for TAN. Once you have submitted the form SPICe, the system will automatically generate these forms.

You can download the forms from the website, affix them with digital signatures, and upload both the forms on the portal of the Ministry of Corporate Affairs (MCA). After MCA will approve the registration, a Corporate Identity Number (CIN) will be allocated. You can track CIN online on the MCA portal.

We hope the above-mentioned steps will guide you through the company registration process. However, getting your company registered is just the first step.

To ensure that your business grows and prospers in the future, you will need to take care of various other aspects related to business. For that, you will need proper guidance and smart strategies. Take our Everything about Entrepreneurship course to learn the business dynamics.

Click here: https://www.badabusiness.com/?ref_code=ArticlesLeads to learn from the experts!

 

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How this Indian Unicorn Startup Empowering the Financial Ecosystem for Businesses

Gone are those days when transferring money was a long and tedious process. The procedure was long and it required a person to visit the branch office of his bank, followed by filling forms and then standing in never-ending queues.

However, today, it is just a matter of a simple swipe of our fingers thanks to the platforms that have made the online money transfer effortless.

The rise of technology has paved way for a world that offers a lot of opportunities and an open space for various sectors to prosper. One such sector is that of fintech or the online payment industry and today, we are going to talk about Razorpay that has joined the list of billion-dollar companies and became one of the unicorn companies in India in 2020.

An IIT- Roorkee graduate, Harshil launched Razorpay in 2014, along with his fellow Roorkee alumni Shashank Kumar. Razorpay lets its users access multiple payment options like Debit cards, Credit cards, net banking, and even wallets such as Ola Money and Airtel Money.

When Razorpay was launched, its founders had just one aim in their minds- they wanted to make the digital payment processes simpler for small businesses.

Now seven years down the line, Razorpay still has that customer-first approach that made the brand a prime choice for enterprises at all stages. However, it has achieved the status of one of the Unicorn companies in 2020.

In October 2020, the Bengaluru-based brand became one of the unicorn companies. The company managed to raise $100 million in funding which was led by Sequoia and GIC. The existing investors such as Ribbit Capital, Tiger Global, Matrix Partners, and Y Combinator also took part in the funding.

“Most payment platforms take their APIs from banks. Then, they integrate with banks and build a further layer. Hence, they all look similar. But with Razorpay, we got to build the product first, keeping bank integration as the black box. We discussed what the merchants want and what our customers demand. We answered these and built our product,” said Harshil Mehta, CEO, and Co-founder of Razorpay.

Though it took Razorpay seven years to achieve the unicorn status, the company has claimed to turn cash flow positive with 2.6X growth in its revenues. Razorpay`s revenue grew from Rs 193 crore in FY19 to Rs 509 crore during FY20.

This Unicorn startup has launched a neo-banking platform RazoPayX last year to help small businesses in managing their finances. The brand has claimed to serve around 10,000 businesses within the twelve months of its launch.

Razorpay serves many international brands, including the likes of Google, Wikipedia, and Facebook, along with many national enterprises like Zerodha, Jio, and Hotstar. It also serves Indian startups like Khatabook, OkCredit, and Meesho along with SMEs and freelancers in multitudes.

As we said, it took Razorpay seven years to reach where it is now. It takes strong determination, effective brand strategies, a unique business model, and a lot more to take your business to new heights.

You too can grow and expand your business with the deep business knowledge and right guidance with our Everything about Entrepreneurship courses.

Learn from the masters of different industries, who with their first-hand experiences and business knowledge will help you in making your business successful. Click here https://www.badabusiness.com/?ref_code=ArticlesLeads and join the list of successful entrepreneurs now. Visit us now!

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EdTech Start-Ups: 4 Tips Entrepreneurs Should Follow to Become Successful in Online Education Business

Education sector has evolved a lot not only in curriculum but in the methods of imparting knowledge. The advancement in technology has a huge influence on the evolution of education. Various start-ups have come up in this sector, providing classes to students of all age groups across different streams through online channels. These start-ups, popularly known as the ‘EdTechs,’ are becoming highly profitable in the present times. EdTechs use software like virtual reality, videos, automation and more to make education more engaging and more approachable for all. 3 Brilliant low-investment Online Businesses to Start Now!

As more and more entrepreneurs enter the education sector with the aim to establish their own businesses, the EdTechs are facing stiff competitions. The hype around the sector has been further accentuated due to the COVID-19 outbreak and subsequent lockdown, as students increasingly turned towards online classes with schools around the globe closed down. Here are 4 tips for successful EdTechs-

Pick Up the Right Educators

Educators are the key to the success for an EdTech as they are in direct and regular contact with the users. They are also the first point of contact between the firm and potential users. While choosing the educator, firms should be very careful about their knowledge, articulation, mannerism and language. They should also have a sense of dealing with the students, and be patient with their queries and doubts. Food Business Ideas: 4 Low-Investment and Interesting Food Businesses That You Can Try.

Diversify Courses Offered

Entrepreneurs should not restrict their platform to one type of classes, or teaching. In order to attract a wider user base, the EdTech should introduce a variety of courses including school’s curriculum, competitive examinations, college curriculum, special courses, multi-lingual courses among others. A wide user-base ensures a strong revenue streams, thereby ensuring survival and growth of the firm.

Multi-Lingual Courses

Another to increase the reach and user base is to provide courses in different languages. For a country like India, offering courses in various regional languages will attract more and more users and provide wider reach. Educators affluent in regional language of the user helps to develop connect faster and it is advantageous for students as well because the students are able to learn and comprehend faster.

Offer Inclusive Courses

Firms can also target and explore the niche dedicated to ‘specially-abled students.’ There are various educators who specialise in dealing with such students and providing them proper guidance. Very few educational institutions in the country are offering inclusive education. It provides a good scope for the firms to grow and expand and make the first movers advantage in the sector.

Education sector is among a few sectors that are not hit by any kind of recession, business or social fluctuations. The advancement and digitalisation of the education have made establishing and running business in this sector more feasible. However, entrepreneurs should make sure to stand apart from the crowd and offer varied courses to attract more users.

 

 

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Food Business Ideas: 4 Low-Investment and Interesting Food Businesses That You Can Try

If you are fascinated about cooking and want to try your luck in any food business, this year can be your year! If you are a foodie and love to make and eat food, you should try and establish a business in the food making industry. If you are planning to start a food business, you should think about: What will differentiate your product from the rest? What are successful food businesses and what do you have to do to go beyond your competitors? When starting your food business ensure you incorporate the lessons from these businesses to ensure your food business idea is a success.

One thing that you should keep in mind while starting a food business is, you should gain knowledge related to food safety and food handling practice as it is very important for your business. Here are few ideas that can help you start a food business with low-cost items which are relatively simple to keep the quality consistent.

Bakery

Do you love baking for your friends and family? If you’re a skilled cook, why don’t you sell your delicious creations? If you are good at baking and have the eye for detail for cake designs and pastries and a lot more, then no one can stop you from starting your bakery business. One thing that you should keep in mind before you start is you should be excellent at preparing recipe related to bread and biscuits. You can start this business at small scale and then depending on the demand and the reach, you can expand it.

Cooking Class

If you are really skilled in cooking and know how to tingle the taste buds, you can try starting a cooking class business. Many people desire to learn the art of cooking and tend to look for online cooking classes or a cooking tutor who can help them get away with basic cooking tricks. In the time of COVID-19, online cooking classes can fetch you good money by just sitting at home and the investment requirement for this business is very low.

Pickle Making

There will be hardly anyone who doesn’t like pickles. If the demand is so high and if you are good at making the yum spicy pickles, why don’t you give it a shot? It is one of the home based small scale business idea which will not need much money to start with. People usually prefer homemade pickles and the domestic consumption is also very high apart from the export.

Fast Food Shop

People love to eat junk food. The fast food business in India is one of the most popular food business ideas today which you can get your hands on. Apart from teenagers, people of all age groups prefer fast food during snack time.

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Expect 12 more Indian startups to become Unicorns, several IPO in 2021: NASSCOM

As we emerge from 2020 that was no less than a nightmare, 2021 appears to be a great year in terms of economic growth and the Indian technology startup ecosystem. The Indian tech-startups are witnessing constant growth, courtesy of the rapid digitalization and innovative technology adoption.

According to a joint report by NASSCOM & global management and strategy consultancy Zinnov, ‘India will have at least 12 more unicorns in 2021 as the Indian tech startup ecosystem will continue to grow on the back of new technologies.

NASSCOM President Debjani Ghosh said in an interview, “Tech startups have done a tremendous job of pivoting their businesses. I honestly believe what happened in 2020 has strengthened the foundation for stronger and continued growth. Remote work turned to strength and advantage. Startups are now thinking ‘build local but go global.’

“In terms of policy measures, we need continued focus on ease of doing business for startups and think about how we can have more domestic capital, especially when it comes to deep tech”, she further added.

The NASSCOM report also stated that the addition of 12 more unicorns in 2021 will take the total count of Indian unicorns to 50. In 2020, the coveted unicorn club was joined by 12 startups including Unacademy, Razorpay, PineLabs, Nykaa, FirstCry, Postman, and Zerodha.

Paytm with its valuation at $16 billion, has become India`s most valuable unicorn, followed by the Bengaluru-based ed-tech startup BYJU`s.

Adding further, NASSCOM also said 2021 will witness the startup IPOs that will strengthen in 2021-22, with several profitable firms such as Druva, Freshworks, Delhivery, and PolicyBazaar planning to announce their list of shares.

In 2020, IPOs raised around Rs. 30,000 crore in the capital, while in 2019 around Rs 12,362 crore was raised. The experts, however, say 2021 will match those numbers.

InMobi, which is the first Indian startup to achieve the Unicorn status is planning to issue guidance on its IPO in a few quarters. According to Naveen Tewari, Founder & CEO of InMobi, “the startup is certainly excited about the possibility of an IPO (Initial public offering), and is evaluating it very strongly”.

Earlier this week, Mint reported that the omnichannel beauty and lifestyle retailer Nykaa, is planning an IPO by the end of 2021, or early 2022. Founded eight years ago, Nykaa will be the first online retailer to launch an IPO in India.

It has allotted shares worth Rs 64.3 crores under ESOP and looking to join other e-commerce giants such as Zomato, Flipkart, Pepperfry, who are also preparing for the public markets.

2021 will be a year full of opportunities if you are thinking about investing in IPOs this year. Other companies like LIC, Grofers, Zomato, and Ola too might join others, this year.

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