Is 2020 a great economy to start a business?
Entrepreneurial ventures have seen resurgence in wake of the current economic scene. The number of sprouting start-ups is increasing by the day and there is news that these numbers will grow even further. Statistics reveal that 2020 holds positive bearings for entrepreneurs due to many reasons such as higher investments, greater volume of IPO exits, economic improvements and a greater number of opportunities on the employment sphere.
What does the economy have for start-ups?
- The entrepreneurial world looks promising as statistics report that about 25 to 40 or even higher number of start-ups are valued at $1 billion or more. By the end of 2020, these numbers are expected to climb up to 100, encouraging prospective entrepreneurs to take the leap.
- Capital investors for ventures are believed to have provided funding to nearly 1500 start-up's in 2015. An increase in the number of entrepreneurial ventures certainly marks a tough competition in the market for the same. About 90 percent of entrepreneurial organizations that are successful are still bootstrapping.
- The current scenario is favorable for start-ups in a way that their entry costs are low. While starting out an eCommerce website earlier meant investing millions of dollars, today websites can be created for nearly nothing, and a few thousands of dollars can help in building a smartphone app.
- The current consumer market gives entrepreneurs a platform to come up with global solutions that are relevant to the local market. Once the business stabilizes in the local scene, it can slowly expand to a global audience.
- Large corporations have received the bad rap for a while now, for being unable to come up with innovative ideas or being tied down by economic troubles and weak management departments. This spells good news for start-ups as many of the big corporations are on the lookout for start-up acquisitions that can help them develop cutting-edge products as well as technology to reclaim themselves in the consumer market.
- IPO exit strategies are back in trend. The US alone reported of nearly 156 functioning businesses that went public during 2015, and accounted to cumulative proceeds of more than $38 billion, according to statistics. The number is a sharp increase from 2018 by nearly 65 percent and the proceeds are the highest since 2000. The most prominent one was Twitter, with its sole market capitalization standing at nearly $38 billion.
As a telecommunications provider, Nexera Enterprise has grown by 40% due to the Covid-19 Pandemic. While its uncertain times for many small to medium size businesses, telecommunications usage has grown by 400%. The number of businesses expanding their use, mostly for home-based business, is growing daily. While starting a new business sounds like a great idea in 2020, why not get into an industry that is only going to keep growing and expanding. If you are a salesperson and have the ability to promote telecommunications to your existing client, you have the ability to build residual income through a channel partner program. These programs are offered by most telecommunications providers and would be a great way to take advantage of the telecommunications boom of 2020. Nexera Communications offer great incentives through its Channel Partner program, call for more details: 855.442.7107.