Talk about a new startup in the society cue card
- What do you know about the startups
- What are the advantages
- What can be the potential disadvantages
Sample Answer of Talk About a New Startup in the Society Cue Card
Well, a Startup is putting a new business idea into practice that could be initiated by a single or a group of members. These days, due to increased competition, getting a job is very hard. Nowadays, many youngsters are coming with new unique ideas and establishing their venture.
Technology has allowed people to put their ideas into practice very easily, as most people are techno-friendly and prefer to take online services. These days’ young people are highly ambitious and want to achieve success in no time and consider startup the most appropriate option to make their dreams come true.
The biggest advantage of starting a new business is not only to make people self-sufficient but also to provide job opportunities for others as well. Many successful startups like Zomato, ola, and uber turned into a billion-dollar business and provided jobs to millions. Further, Startups play a vital role in boosting up the economy of a nation.
But sometimes, people invest in startups without proper knowledge and research in the area, which turns into a failure of their business with the loss of their hard-earned money and wastage of precious time.
In the end, all I can say is that in the near future, the startup is going to shape the new world.
Follow-ups for Talk About a New Startup in the Society Cue Card
Is market research important for export business?
I think market research is essential for the success of the business and in the case of export business, it is very vital as you are going to explore the totally unknown overseas market. As different Overseas markets vary from each other and when you are going to target a specific market it becomes very important to know the particular characteristics of that market to avoid any costly mistakes. For example, it would not be worth investing in branded showrooms in poor countries like Africa as no one is going to buy the costly items.
In Businesses, Do companies need to be competitive?
Yes, in this competitive Era, business companies need to be competitive. It enhances the quality of the products and at the same time makes the company grow with different challenges and enhances its efficiency. Monopoly leads to higher prices and lower quality products.
What should be the Government’s role in how small businesses are run?
Government can encourage small business by providing them protection from custom duties and import tariffs. Also, easy options for funding and loans at low interest rates could be provided by the government to encourage startup businesses.
how can Business benefit the community in which they are located?
Business can benefit the community in which they are located in a number of ways. First and foremost, it provides more job opportunities to the people of that locality. Further, it builds better infrastructure in terms of roads, health and education for the people.
In India, every business company has to spend 2% of its total income on a social cause and it is known as the Corporate Social Responsibility Fund. All this results in the upliftment of that. community
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