Introduction: It’s not a magic, that overnight a big fat corporate takes birth, or a company becomes a brand or similar. Any organization starts from zero, then with time and effort, proper business strategies, planning make it a big brand. A business consultant, whether small business consultant or working for a big brand, the main job of them is to give advice on how to improve the revenue generation of the organization day by day. In India, there are many small business firms growing up. There are few tips discussed, to start small business in India is gradually encouraging startup firms, new entrepreneurs.
For development of small business, the Government of India has launched so developmental strategies. Naming few of them –
Startup India Seed Fund
Startup India Initiative
ASPIRE
MUDRA Bank
Ministry of Skill Development and Entrepreneurship
Multiplier Grants Scheme (MGS)
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
Modified Special Incentive Package Scheme (M-SIPS)
Apart from applying the above schemes, your small business consultant, should share some ideas on how to take initiative for a small business. Here it is –
1. First you determine what kind of business you want to start with. For further idea, you can also search website of the MSME and Make In India websites too. Under the project of Make In India (launched 2014), you can think of to start hospitality business, tourism, manufacturing, agricultural industries, even defense and aerospace, etc.
2. Decide the location where you want to open your business. Location is huge factor, for the growth of the business. Always prefer location where there are other offices around. That will give a tight competition between other companies in the same location.
3. Write down the project. Make a blue print of your start up firm. Check with small business consultant for better advice. The consultant will be the best person to guide you, whether your idea will work, if not he/she will share contemporary business idea to start.
4. Though most of the small businesses in India are self-financed, or funding comes from family and friends, yet, check with banks/co-operatives/ venture capitalists/ angel investors etc. for funding.
5. Website launching is a mandate. Now a days when everything is depending upon digital marketing, therefore, you should have your own website to promote your company and generate lead from the traffic.
Conclusion: Always take advice from small business consultant, put tireless effort for the growth at the very beginning of the firm, your future will be better then.
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