India is a land of contradictions. While Indian government programmes like “Start-Up India” failed to support startup ventures in the country leading to more startup failure then success we see, a latest study has something otherwise to say. A latest study conducted by SEMrush, an online digital marketing suite, has revealed something opposite to the popular belief that India is not a perfect place for starting a venture.
According to the study, India happens to have become the most-preferred destination in the world for starting a business, if one goes by the number of people searching for the best place to set up shop.
India leads the Top 10 globally most searched countries online for ‘starting business in’, revealed the study. Moreover, the study has also established the fact that India is not just a preferred choice for Indians to do business in their homeland, but is also becoming a priority for Small and Medium Enterprises (SMEs) from across the world, according to a SEMrush official.
The study showed India is followed by Singapore, the Philippines and Australia as top globally searched nations.
According to SEMrush’s research on the term “How to start a business in…”, the top 10 most globally searched countries online are:
3- The Philippines
6- New Zealand
8- South Africa
9- United Arab Emirates
Rohan Ayyar, Regional Marketing Manager India, SEMrush, says the number of SMEs in India is 4.25 crore, registered and unregistered, with over 10 per cent average growth rate. He was quoting a report by EVOMA. “The GDP contribution by SMEs is estimated to be around 6.11 per cent from the manufacturing and 24.63 per cent from the service sectors,” he said. SEMrush analysed the global search pattern for the last 12 months and looked for certain key search terms such as ‘how to start a company in’, ‘opening business in’, ‘found a business in’ and other related search queries.
Though Singapore is famous for its wide entrepreneurial opportunities, and the National University of Singapore, the oldest and the largest university in the country, ranks in the global Top 30 for its entrepreneurship centre and international outlook, the nation was at second spot, according to the SEMrush study. Ayyar said unemployment rate of 2.1 per cent and per capita GDP of nearly $53,000 tend to make Singapore’s economy one of the strongest on the world arena, and almost 99 per cent of it is powered by SMEs. It is no surprise that Singapore tops the list of countries where people are eager to found a firm, he said.
Ayyar added the results of search queries analyses over 2017-18 were greatly commemorative. “The search volumes for India were much higher in comparison with countries such as Australia, Canada and the UAE. The developments in PPP model and progressive policies and plans have further helped start-ups and businesses to grow, giving a great boost to SMEs.”
~ Via BusinessLine
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