Globally, India stands 3rd as a promising ecosystem for start-ups and is home to 8,900 tech start-ups alone. In 2019 itself, the country has seen an addition of 1,800 new ventures.
An aspiring entrepreneur can thus proceed to perform proper market research to identify the available opportunities in his/her native place. Such research should conclude in the possibility of business success in the area.
Following this, one can create a cohesive plan to float the venture, which should ideally include an initial strategy for business establishment as well as a roadmap to expand. Next comes acquiring the necessary finances to implement the plan.
With these steps completed, the choice of location comes off as the next step. The decision for a suitable place should thus depend on the locality’s exposure, available amenities, existing competition and the likes.
On completion of these steps, you can proceed to obtain legal certificates and licenses to run the business and kick-start your venture. Remember to complete these steps carefully for a successful floating and running of your business.