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Why startups are required for economy
Just like how MSME plays vital for a country’s economy, startups also play a role and very much required when it comes to job creation, as the existing companies can employ a certain portion, like for example government cannot create jobs for all the people to get accommodated hence job creation is one such role which startups bring in.
Unique ideas of startups help in broadening business creation and also changing the attitude of people towards various services which startups offer right from pet funeral and grave maintenance to delivery of meat to every aspect and taking care of your day to day household chores.
All these unique cannot be started by government or by MSME’s. The existing companies cannot expand drastically and employ more number of people, as it can be seen in public sector units major of them are in losses as having too many people also becomes a burden on running the show, its like boat capsizes due to the weight it is carrying.
Startups help in generating not only jobs but also in creating opportunities for investors to invest in startups, which are addressing unique problems and unique market with unique solutions. The flow of capital into country from various countries ensures there is forex inflow.
The startup scenario ensures and gives a country the much-requiredbackbone to ensure and handle the un-employment, creating atmosphere of doing out things and trying out things from stero type practices.