Impact of Start-ups on our economy

WE have all heard of start-ups and small businesses, small enterprises. What are they in actual sense? They are a small team of members who have a vision and mission to do something different, to give something innovative to the public and to make a mark in the economy. These days big companies have been cutting down on their employees in order to regulate their expenses whereas startups are inviting large groups of youngsters to work with them. Just having a degree doesn’t help you if you are targeting at being a part of Google or any other big names for that matter. But with startups what they need is your fresh thoughts and ideas and capability to multitask.

Impact of Start-ups on our economy

One gets to be involved in all the areas of a small company and therefore gets to learn not just what he has been recruited for but everything and anything one need to know on how to run a business. Startups not only train its employees in one particular branch but give them hands on experience of all the various sections and departments of the business. So employees get more experienced and their level of strength and knowledge increases as well giving the society a much more skilled personnel.

benefits of Start-ups

Startup always comes with great innovative, fresh and unique ideas. This always attracts investors within the nation or foreign. So in turn its our economy who benefits. As we have so many startups sprouting out every day, the existing set of business and firms always face competition and need to be up to date with ideas and technology. They are forced to be innovative and bring in new and creative ideas of keeping their business alive and in the market. Before the team gets together to start a new business, a well thorough market study is done. This gives the team of newbie’s the idea and the strategy of how to get things pumped up and how to make their mark as soon as possible in the business world.

Startup

As the name suggests in most cases start in a small scale, maybe a one room one desk situation. They connect with the locals, take part in community events and establish a mark which in turn helps them in terms of money value. They also hire freelancers to get their jobs done without spending too much and saving as much as possible. All this leads to their growth and progress.

In conclusion, startup and small business enterprises do help in the growth of our economy to a great extend and also help in providing employment to a large group of individuals.

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