To start a startup in India, one needs to think about a lot and also consider which area to start in. There are many reasons why people fail to make money when starting a startup in India. Initially, it may run well, but it starts to decline later, causing losses.
Anyone starting a startup should first collaborate with people because, without planning, failure is likely. And if your startup is doing well, don’t change the location frequently as it can lead to significant losses. When starting a business, the quality should be good because people look for quality.
If they don’t like it, it could fail. Therefore, you need to pay attention to many things, which is why many people fail because they don’t pay attention and rush their work, leading to failure.
Why do 90% of startups fail in India?
We know that if anyone starts a business, we understand that 90% of people cannot do business because starting any startup requires a lot of thinking about what we need to start and solving many problems for people.
Only then can they succeed because it doesn’t take many years for them to start a startup in today’s time? There are more than 60,000 startups in India. In this startup, only 90 companies have become unicorns, and 90% of people who start a startup fail because they copy others, lack funding, and lack innovation.
Why do only 1 percent of startups succeed?
When someone starts a startup, they are taking a risk, which is why only 1% of people succeed. Some people think they can start a startup without thinking or planning, but it never works out that way.
Must Read: Why is India leading in the IT(Information Technology) industry?
That’s why before starting anything, people need to think a lot and give their days, months, and years to thinking so that they can start their startup well after careful consideration, which is how people become successful.
Future of Indian startups
The startup scene in India is off to a very good start and is proving to be quite beneficial for people and is expected to be even better in the future. In the Indian startup sector, venture debt increased by 50% in the year 2023, at a time when there was a decrease in the amount raised through equity among Indian startup companies. As an asset class, venture debt continued to grow in 2023, crossing the figure of 1 billion dollars.
