Are startups trend-setters or trend-breakers? To what extent do startups have a future in terms of business and capital? Are they fading or growing?
Candidate A: Every brand that we recognize today and every enterprise with a striking turnover started off as a start-up. We are all aware of the stories of how Steve Jobs and Dell started off, but are now leading players in the market. Thus, I believe that startups have a bright future and their cognizance is leading to their growth and initiation.
Candidate B: I agree. In fact, India is referred to as the world’s fastest growing startup ecosystem. Statistics indicate that startups have been on a continual rise, and India was projected to have a whopping 3100 start-ups in 2014. It is also predicted that the year 2020 will witness around 11500 start-ups in the country. These numbers are hence a direct proof that depict start-ups as growing ventures.
Candidate C: The world is changing at a rapid rate in terms of necessities, luxuries, technology, conveniences and facilities. Novelty and innovation is what appeals to the masses today. Startups cater to a creative novelty – newer ideas, new approaches and newer benefits. I believe startups are the need of the day and are hence on the trajectory of growth and progress.
Candidate D: Moreover, there is a constant need for startups and original ideas that provide beneficial services to the clients at a considerably lower market rate. Startups aim to establish themselves firstly through client acquisition and then through acquisition of capital. Hence, the clients receive various services at affordable rates and good quality. This seems to be a win-win situation for the clients as well as the startups. They are growing on the basis of the client-trust that is helping them evolve and build a brand in the market.
Candidate E: I would like to add that the boom and growth rate of startups is also constantly providing several job opportunities to youngsters. A greater work force implies a great input and an immense output. The newspapers are always flooded with news of innovative groups of youngsters starting some business venture. Startups, according to me, tend to grow because of the enthusiasm, creativity and energy that are infused in its conception and nurture. They are definitely growing and are on the trajectory of a whopping table-turning success.
Candidate F: I understand your viewpoints as to the ever-growing status of startups. However, how many of them have managed to continue and generate lucrative results? Barely any. The failure rate of startups supersedes its growth rate. Statistically speaking, an approximate 90% of start-ups fail and fade out. They are temporary businesses according to me. On a long term basis, they do not work.
Candidate G: I agree. Harping upon statistics, it is prominently visible how more than 80% of the people claim that they would work for a well-established company, when asked to choose between working for a startup or a well established company. Working under a startup is a gamble. You need to go ‘all-in’ not knowing the result and the repercussions. It is a risk that not many people are willing to take in consideration of a professional future in the long run.
Candidate H: I would like to add that the main reason behind most startups being fading endeavours is because of the hesitance of the investors. As the investors are aware of the risks that come as a part and parcel of startups and of the high failure rates, they do not invest in these startups unless they are absolutely confident of a certain lucrative return. Lack of funds and capital is the main concern for startups. However innovative their vision might be, the absence of investors on board turns out to be a deal breaker for most startups. They are now, unfortunately, a falling trend.
Candidate I: I believe that the other reason justifying the lack of investors is the fact that startups have now saturated beyond a point. Considering the scenario in India, there is nothing that is left unexplored and every idea has now become too condensed. This reduplication deprives the startups of their USP that would otherwise be their ladder to success and profits. According to me, saturation is the main reason why startups are fizzling out.
Candidate J: Startups take a long time to establish themselves and create a brand in the business market. Hence, people and clients trust brands more easily than startups. This is with regard to clients. Now with regard to the employees of the start-up, they usually work twice as hard for a negligible pay. Thus, they are unable to give full commitment as most of the start-ups have backups ready. A startup needs a group of fully-focussed individuals who are willing to give their all. Due to the risk factor, it is hard to find such individuals. This in turn affects the start-up adversely. That is why I believe that a majority of startups are mostly fading and do not have a very stable future.
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