Category: Startup

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Startup

Retail Business Ideas: Research, Explore and Start Your Retail Business

Millions of business ideas are available around you. However, one should start a business on the basis of their interest or passion and the investment they can make it.

If a retail business idea is popping up in your mind, we must say that it is one of the profitable and productive opportunities, not only in big cities but also in small towns. (Dr Vivek Bindra to Share Business Expansion Strategies During World’s Largest Webinar ‘Retail Ka Mahakumbh’ on September 27 Click Here to Register Now)

Due to COVID-19, starting a new business is difficult, but not impossible. Therefore, we come up with top retail business ideas that you can begin.

Bakery

You love baking and have skills, then opening a bakery business is the best dwelling house-based business choice. This business can either pop out at your home or you can collaborate with other bakery or retail shops for sales.

If you are considering a home-based job, then don’t forget to create a good plan and strategy.

Cooking Sessions

Have a love for food and cooking? And you have great skills in cooking too. If the answer is yes, then make this skill of the teacher. Due to the high restaurant opening made people forget their cooking skills. Time to revamp it, and fill the gap use your skill to teach others.

It’s a low cost you can plan your working style and register students as per your will. Once you have built the trust, then you can go forward with opening a food training center.

Grocery Shop

In our country, their enormous population, and everyday household supplies. Starting a grocery store in a good location gains tremendous popularity. Now, due to the pandemic, grocery stores have commenced delivering the groceries at home and even build their app to receive orders.

A grocery store is an evergreen business idea. You even don’t need any special skills for starting this business, just an accurate business plan.

Nursery

A plant nursery is one of the profitable ideas for anyone who loves gardening. Nowadays, people buying plants and gardening as a stress buster from daily routine work.

Thus, if you have the right knowledge of plants, then opening a nursery is a very profitable business for any individual. This line of work is low infrastructure cost makes it revenue-wise more lucrative.

Website Designing

Every startup, big companies need the website as it is known as the face of every business in this digital time. Every business owner needs a website to symbolize themselves. You own the skill, eye for creativity, and have time to invest in this.

Website designing can be the best retail business idea you can think of as it is a minimum requirement idea of a laptop and internet connection.

In recent times the Indian retail industry has surfaced as a fast-growing industry. With the right business plan and research work can make your retail business idea into a great success. As the success of the retail business depends on the correct knowledge of the product. We hope the shortlist of retail business ideas help you in inspiring for starting on your own.

 

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MSME Startup

Comprehensive Space Act to Help Start-Ups to Make Rockets, Launch Vehicles For ISRO Soon, Says K Sivan

ISRO's rocket launch. (Photo Credit: Facebook/ISRO)
ISRO's rocket launch. (Photo Credit: Facebook/ISRO)

Chennai, September 16: Indian Space Research Organisation (ISRO) Chairman and Department of Space (DoS) Secretary K Sivan on Tuesday said that the Union government will come out with a policy for launch vehicles and rockets, space exploration and a comprehensive Space Act. The new policy will help several space sector start-ups that are coming up in the country for making rockets, satellites and others.

Speaking at the international space conference and exhibition titled ‘Ushering the new era in Indian Space Sector’, Sivan said that the insurance sector can also get into this important field once the policies and law are in place.

Sivan also said that a comprehensive Space Act and various policies are in the pipeline while he was elaborating on the legal and policy framework that is being planned with the government to open up the space sector for private players. However, the ISRO chief said the government will govern the space activities through policies for every line of activity and the Space Act. With this, the insurance sector can get a way out in the space sector.

Stressing on plans to encourage start-ups and micro, small and medium enterprises (MSMEs) in the space sector, Sivan said the DoS through the Space Enterprise Encouragement and Development (SEED) scheme will support them to take up innovation, research and product development and services for ISRO.

The exhibition was organised by Confederation of Indian Industry (CII) in association with ISRO, Antrix Corporation Limited and was supported by NewSpace India Limited (NSIL).

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Startup Technology

Humsafar, an App-Based Doorstep Diesel Delivery Service Provider, To Help Startups Become ‘Fuel Enterprises’

Fuel (Photo Credits: Pexels)

New Delhi, September 15: Humsafar, an app-based doorstep diesel delivery service provider has introduced its support services to help aspiring fuel entrepreneurs. This unique opportunity will help the startups to be a part of one of the biggest disruptions in terms of fuel marketing in the Oil industry – Diesel Door Delivery (DDD). According to a report by IANS, Humsafar plans project support from scratch to complete fruition to new start-ups of doorstep diesel delivery. The plan includes setting up a company, fabricating bowsers, (oil dispensing vehicles) and setting up a tech platform for delivery of diesel at doorsteps in various parts of the country.

Sanya Goel, Co-Founder and Director, Humsafar was quoted in the report saying that Humsafar also helps start-ups market the service in the industry by partnering with other dealers and acquiring new customers.The opportunity the Doorstep Diesel industry provides is enormous, offering safe and legal alternatives to fuel procurement.

About Humsafar App:

  1. In less than four months, the Humsafar app, ‘Fuel Humsafar’, has crossed over 10,000 downloads on Google Play Store and has processed 20,000 transactions.
  2. The app has been customised to help clients and vendors manage their orders, drivers, tracking of the bowser, checking fuel capacity, stock management, advanced MIS.
  3. The report informs that Humsafar also offers a dedicated app, just for the Drivers, which allows them to track the user’s location, check orders, review order history, and manage stock, which in turn allows the vendor to view the driver’s performance and delivery status from time-to-time.
  4. Humsafar is currently servicing 24 states across India. The startup has also roped in 50 plus retail partners across 24 states.
  5. Humsafar is also looking to raise its first external investment and plans to launch B2C ordering by the end of 2020.

The mobile bowsers, popularly known as dispensing vehicles, are expected to supplement petrol pumps, changing the landscape of fuel procurement. Goel added saying that it’s great to see that most of their applications have been from the younger generation which speaks volumes of the entrepreneurial spirt among the youth.

The gross revenues of the startup stood at Rs 22 million in the year 2019-20, and by the end of 2021, Humsafar plans on targeting diesel delivery of 500 million litres. This will translate into a revenue of Rs 100 million.

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Startup

Zhenhua Data Leak: Tech Startups And Online Ventures Among 1,400 Indian Companies Being Snooped by Chinese Firm

Spy (Representational Image) )Photo Credits: Needpix)

Mumbai, September 15: There are reports that Shenzen-based Chinese technology company Zhenhua has reportedly been snooping on famous people, including 10,000 prominent personalities and organisations, according to an Indian Express report. It claimed that a database compiled Zhenhua has at least 1,400 Indian companies

Heads of Indian companies like Nykaa, PayU, Flipkart, Zomato, and Swiggy are also being monitored. Binny Bansal, Deepinder Goyal, Nandan Reddy, Falguni Nayar, and PayU business head Nameet Potnis are mentioned in the list.

Chinese online spies are aiming at the venture capitalists, angel investors, founders and chief technology officers of India’s new online ventures including payment apps, technology startups and foreigner investors based in the country.

The list also includes names of payments, education, and delivery apps. Several promising start-ups and e-commerce platforms are also under the watch.

Payment apps like Paytm, Razorpay, PhonePe, Pine Labs, Avenues Payments, and FSS payment gateway, are under the radar. Some of the delivery startups apps that are under the watch are – Bigbasket, Daily Bazaar, Zappfresh, Fresh Meat Market, Zomato, Swiggy, FoodPanda, online meat delivery platforms.

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Startup Technology

‘Grow With Google’, a New Online Programme Launched by Google to Help SMBs Build Digital Safety Net Amid COVID-19 Pandemic

Google (Photo Credits: Unsplash)

Tech giant Google has introduced a new online programme to help business owners learn how to build an online presence, find more customers, sell online or work remotely. This is being done amid the coronavirus pandemic to help business that digital tools can provide a safety net for small businesses. The new ‘Grow with Google’ lessons that have been included in the programme can vary from two-minute tutorial videos to live workshops. It can range from beginner level to advanced, so every business can find what they need to become more prepared.

According to a report by IANS, the programme was announced after a report this week showed how a ‘digital safety net’ can serve as a support system for small businesses and helps to mitigate the negative business effects of COVID-19. A report by non-profit Connected Commerce Council in partnership with Google stated that practically all small businesses in the US were disrupted by the pandemic, facing reduced customer demand and hours of operations as well as employee layoffs. 85% of small businesses said COVID-19 made them rethink their approach to digital tools, allowing them to adapt.

The study further revealed that businesses that had a digital safety net in place and used a variety of digital tools — like digital ads, digital payments, data analytics and customer insights tools — felt better prepared. However, not all small- and medium-sized businesses have a digital safety net. The new ‘Grow with Google’ lessons are designed to serve the interest of these businesses.

Here’s How ‘Grow With Google’ Will help SMBs:

  1. Google has introduced a new programme called ‘Grow With Google’ on the ‘Google for Small Business website’. Click here for direct link.
  2. Grow with Google is partnering with SCORE, a network of volunteer, expert business mentors, and non-profit International Downtown Association (iDA) to complete a series of affordable and easily accessible Grow with Google workshops for 50,000 small businesses across the US.
  3. Business owners can find personalised Google product recommendations for their business, as well as helpful tips and practical guides to help small businesses get the most of these tools
Categories
Startup

Early-Age Investment Firms Like Blume Ventures, 3one4Capital & Others Set up Buildup Funds to Support Top Startups in Their Portfolios

Investments (Photo Credits: Pixabay)

Mumbai, September 4: A number of big early-stage investment firms are now setting up buildout funds to continue to support top startups in their portfolio. According to an Economic Times report, the objective is to stay invested and earn bigger returns from these potential winners.

Blume Ventures, 3one4Capital, and DSG Consumer Partners have all set up opportunity funds which have the ability to cut larger cheques in companies that are highly valued, and are seen as breakouts in their respective segments.

With a tremendous rise in funds vying for mid and later-stage companies, smaller-sized venture capitalists are trying hard to keep their ownership intact as much as possible, according to people quoted in the report.

The advantage with early-age funds is that they may have an advantage in striking competitive deals in later rounds due to their reputation and familiarity after backing a venture in a usually pre-revenue stage when their business success is highly uncertain.

 

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Startup

5 Tips for Writing the Stand Out Business Plan

When you have decided to move forward with the idea of starting a business, the first thing you need to write is a business plan. As the business plan serves many important key functions that are essential for succeeding in a new startup.

You must be wondering why Business Plan is so important, its place significant, as it lets you understand what you need to do to reach your goals. The well-defined business plan helps you to keep you remember about your goal.

We came up with the tips which you should remember while writing the business plan.

Identify your competition

Who is my competition, one of the prominent and relevant questions you need to know before starting the business? Be quick to mention the name and make sure to explain why you are different or better. But make sure not to defame your competition, you can interpret from them but not disrespect them.

Be Prepared with Facts

You plan to get success in the industry you stepping in, and you know you will be lead on the grocery store, then you need to be ready with facts why you say it. If you suppose your product will take over the market, then you have to support it with facts.

Likewise, if you believe your team will bring success to your business, then be sure the team resume demonstrates that.

Be Real

While composing your business plan you need to be as realistic as you can be. You necessitate, to be honest with your business plan. If you believe your idea is secure enough to let it stand on its merit.

Don’t be too overly optimistic about your time and imagination, that is the common mistake made by entrepreneurs.

Be Creative

For grabbing attention don’t forget to express your creative element in your plan. Thusly, for making your plan stand out make use of the creative element.

Utilize templates to design their many software which can help you grab the correct attention to represent your idea. Serve something different to make your plan.

Learning how to compose a correct business plan is like winning half the battle. Make sure while writing the plan make language always need to be clear and concise. Remember to take in your facts and vision clear when writing. Then, when you write your business plan keep mind above 5 steps and have a successful business plan with you.

 

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Startup

Traditional Business Plans for Your Start-up: 7 Steps to Follow

Business Plans
Business Plans

“A vision without a plan is just a wish.” Any business success depends on how effective and well-thought business plan you build. Once you have a vision of the business, the next step should be making a solid business plan.

A business plan is one of the crucial for the task as if you want to take out a loan, things to discuss with a business partner for all this, you need a solid plan in order.

The traditional way of writing a business plan is simple and contains more details than other business plans. While writing the length and information about the plan, vary with your audience. Here seven several crucial steps you need to keep in mind while writing a traditional business plan.

Step 1: Writing a Supervisory Summary

Writing an introduction to your business is as important as any other introduction. This will make your customer believe in your business, so tell your audience to sell your business and explain to them why it matters.

While writing this summary doesn’t go over then one or two pages. Your summary should incorporate the business name, key employees, address, and business background.

Step 2: Write Your Description

As per the company requirements, a traditional business plan needs a good description or introduction of your business. This plan covers key concepts of your business, such as marketing, finances, and tools required to operate the business.

So, when you write the introduction, make sure you cover key points specifically and in simple words, this description needs your vision on paper.

Step 3: Studying your Market

Before starting any business, you necessitate to understand and study your audience. This is your chance to highlight your business to describe your industry and market. Demonstrate the competitive aspect as well.

This work will help you to understand your competitors well. This will contribute you to touch the points where your competitors have missed out.  You interpret the target audience well with their need and requirements.

Step 4: Operational Structure

This is where business factual details will induce. Means here you will explain how day to day basis your company will work. Here your plan contains full details. Here you will plan out your business legal structure, sole proprietorship, include these details easily.

We recommend you to put together an organizational chart if you possess multiple stakeholders just to show how and who is involved.

Step 5: Product Specification

Here where you finally get to tell in detail what you will be selling or offering. This section will be likely to be a bit longer as it’s important to share every basic detail of your product. Make sure to tell why your product is different from your competitor’s products. From price and how does that play in the market compared to competitors.

Don’t forget to include a marketing or promotion plan here. It is important if your product will be good, but it won’t matter if your audience won’t know about it. Here understanding your target market is important and understands details of how you going to make your product stand out.

Step 6: Raising Capital

If you are planning for a prospective investor, then this step is essential for you. While writing this step, you need to be clear how much funding request you are asking and why.

The investment plan should be clear and how much amount you need and where you will be using it. Explaining the role of funds would be used to clearly state the projected ROI.

Step 7: Financial Analysis and Predictions

You require to analyze the financial plan of your business.  If you are beginning a new business and not yet profitable, then you need to be clearer and more realistic with your predictions.

Consider your industry norms and find out about the comparable business have performed. While showcasing your financial outlook, you need to show your logic about your vision for the succeeding 5 years.

Later on, these seven steps remaining piece of information which are relevant to your business. But don’t dump your plan with vague information try to put those which are necessary and crucial for your business.

 

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Startup

Startup Ranking 2019: Gujarat, Andaman & Nicobar Islands Emerge As Best Performers in Implementing Policies to Uplift Startup Ecosystem

Startups (Photo Credits: Unsplash)

Gujarat has been named as the best performing state by the government in terms of implementing policies for uplifting the startup ecosystem.  While Gujarat was the best performing state, Andaman & Nicobar Islands was adjudged as the best performer amongst Union Territory and North Eastern states. On Friday, the ‘Startup Ranking’ framework 2019 judged states and Union Territories on seven broad reform area, consisting of 30 action points.

The Ministry of Commerce and Industry said that to establish uniformity and ensure standardisation in the ranking process, ‘States and UTs’ have been divided into two groups. “While UTs except Delhi and all States in North East India except Assam are placed in Category ‘Y’. All other States and UT of Delhi are in Category ‘X’”, the statement read.

While releasing the result of the second edition of ‘Ranking of States on Support to Startup Ecosystems’ through a virtual felicitation ceremony, Commerce and Industry Minister Piyush Goyal called upon the high networth individuals, venture capitalists to finance ‘Startups’. During his address, Goyal said that the COVID-19 pandemic should not be seen as a problem or challenge but as an opportunity to reimagine and reinvigorate India. The Minister recommended that ‘Startups’ should come up with imaginative, relevant and innovative products, undertake reengineering and reform of processes, and orient their ideas to be people-centric.

 

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Finance Startup

iStandup 2.0: ICICI Bank Launches Dedicated Offering for StartUps in India, Offers Current Account in 3 Variants

ICICI Bank. (Photo Credit: Wikimedia Commons)
ICICI Bank. (Photo Credit: Wikimedia Commons)

Mumbai, September 12: India’s second-largest private sector lender ICICI Bank on Thursday launched a news offering — iStandup 2.0. With this new offering, ICICI is aiming to catch hold on the growing number of startups in the country. Though the new improved features, its customers will get a current account in three variants, offering additional features.

Under the iStandup 2.O, the ICICI bank offers premium savings accounts for the promoters, salary accounts for employees and a dedicated relationship manager. For its effective reach, ICICI has tied up with vendors to offer a ‘concierge-like’ service. This will enable the startups to access various services like company registration, taxation, compliance, logistics, facility management, staffing and digital marketing.

On the issue, the charges of the account, ICICI bank’s Head of Self-Employment Segment Pankaj Gadgil said that the bank will waive average quarterly balance requirement on the current account for a year. Adding more, he said that around 20,000 startups were registered with the Ministry of Corporate Affairs in July 2020, which went up in August 2020. Since the trends are encouraging, the bank launched the new offering.

As per details, all the startups — up to 10 years old — including partnerships, private and public limited as well as limited liability partnerships, will be able to opt for current account. It is to be known that ICICI bank already serves an undisclosed number of startups as part of earlier offering and other offerings that also include a current account.