On first sight, starting and building a business might seem an easy and simple task to do. Unfortunately, new businesses are still prone to failures and usually fail even before they soar high. The global stats depict that 50% of small businesses fail during the first year and 95% in the first 5 years. While those start-ups that exist applied the right business tactics and principles, but the numbers are too few to justify. The idea to start a business needs a pro-active understanding of the failures encountered by others, mistakes to avoid, and pitfalls to evade.
India has grown into a start-up hub mainly due to its talent pool that is nurturing and transforming ideas into businesses. According to data released by StartupBlink, India moved up to the 17th position in 2018 from the 37th spot last year in the Start-up Ecosystem Ranking for 2019. There is still enough scope for improving the Indian start-up milieu provided the funding is on time and seamless.
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