The start-up rates across the world are continuing to grow, with more and more entrepreneurs deciding to open their own business rather than seek employment. In India, this is particularly pronounced, with several successful start-ups growing across the country. To determine how you can make your business as successful, read on for more key statistics and information on how to ensure that your start-up can grow.

How many start-ups are successful in India?

Last month, it was reported that there had been tech 1,300 start-ups in India alone, showing just a small portion of the growth of start-ups in India when compared with other countries. As the report stated, this has made India the third-largest country for start-up culture on a global scale, and the number of start-ups in the country looks to be continuing to grow exponentially. The reasons that start-ups have started to become successful in India are extremely varied, but over 25% of the start-ups are situated in Bengaluru, where the first Silicon Valley Bank was set up in India, which now provides financial aid to start-ups in the proximity. Not only this, but Indian start-ups have gained 108% in funding, and this funding is particularly focused on tech start-ups which prioritize innovations such as AI.

How can you make your start-up a success?

This information may be making you interested in the possibilities of setting up and running your own start-up in India, or across the world in countries such as the UK and the USA. If so, here is a guide compiling some of the top ways in which you can set up a business and ensure its success in the future.

• Technology is one of the top sectors in which you can grow your start-ups in India. However, you should also use technology to aid your ability to run other types of start-ups, such as property and housing businesses and retail. There is a lot of tech that can help you to easily manage the responsibilities of a business and to ensure that you can keep up with competitors. For instance, using calendar and scheduling applications specialized in your business. In the case of property and housing businesses, tech such as home inspection report softwarecan help you to keep track of your appointments and communicate with clients effectively.
• You can also make your start-up success by utilizing the right marketing methods. For instance, using social media allows you to attract a global audience, and you should use these platforms to communicate with clients and share information about your business with them, which will help to direct more traffic to your website. You can also construct effective marketing campaigns through devices such as creating a professional website, utilizing content marketing and even using pay-per-click advertising schemes.
• With only 80% of businesses making it to their second year, you need to make a connection with your competitors through collaboration. You can contact some of the other 1,300 start-ups this year through attending networking events for your sector. This will give you the potential to meet other businesses and find clients, especially if you are a B2B company, and meet others that may be able to give you contacts or become mentors or investors for you and your business in the future. You can do this by finding business networking groups onlineor in India, allowing you to connect with others even if there is no networking group in your local area.
• You also need to minimize the risks of your business by ensuring that your company is financially stable, has a budget and that it has emergency funding to help you to stay afloat even if your cash flow and revenue is lower than expected in the first year. You can also minimize the risks by creating a business plan which has details of what to do in the face of threats to your business model, as well as using this plan to determine financial targets for your company.

Start-ups are continuing to rise in India, making this the best time to consider setting up a small venture of your own. If you are looking to start up a small business in India, you are not alone, with many entrepreneurs attempting to start-up in the tech sector and beyond. If you are interested in starting up a business and ensuring that the statistics rise farther, these tips will help you to make a start when it comes to business management.