Business Idea: You possess several distinctive thoughts. You possess the ability to turn those ideas into reality. You can reach a level of fixation for this. You also wish to transform them into financial models and transition from being a job seeker to a job creator. So what is holding you back? Individuals like these are essential for operating a startup. Therefore, begin now. Create a business strategy and commit to it with all your strength.
The issue concerns angel investors
You might encounter a single issue. That issue relates to finances. Ultimately, who is going to put money into your startup? You lack any experience in operating a business. As a result, no one will be interested in funding your startup. You might lack a credit history, which could lead banks or other financial institutions to be uncertain as well. Now the issue concerns angel investors. In other words, these philanthropists invest funds in youth startups solely to assist them,
without considering profit or loss. You might not even come across angel investors. You shouldn’t be concerned, as the government will act as angel investors for you. Numerous loan programs exist that are highly advantageous for launching a startup. You simply need to be informed about those government loan programs correctly. Among the various government loan programs for startups, the most advantageous is the Pradhan Mantri Mudra Yojana.
Loans between Rs 50,000 and Rs 20 lakh
Under this, loans between Rs 50,000 and Rs 20 lakh are available in four distinct categories. The second financing program is the Standup India Scheme. Under this scheme, SC-ST and women entrepreneurs receive loans between Rs 10 lakh and Rs 1 crore for greenfield, meaning new business ventures. Credit Guarantee Program for Micro and Small Businesses.
This is a scheme of the Ministry of Small Industries of the Government of India. Under this, loans up to Rs 5 crore are provided as collateral free credit. Credit Guarantee Scheme for Startups. This is a scheme of the Government of India. Under this, credit guarantee of up to Rs 10 crore is given.