It is interesting to know that as of June 2016, India recorded approximately 4,200-4,400 start-ups. According to a report by a top lobby group, Nasscom and Zinnov Consulting, India has the third highest number of start-ups in the world, behind only the US and the UK. It is possible that India will overtake the UK (4,500-5,000 start-ups) in 2017. Another important statistic to know is that most of the founders, almost three out of every four, are under the age of 35. Thesesure are the few guys who will be fulfilling their dreams early in life.

Starting a small business or company and doing what you love can sound intriguing but also has its own risks. Hence most of us stick to our mundane jobs and work through our lives doing something that we don’t love.

Your life situation can change instantly once you decide to go forward with your business idea. Although it is not always a cake walk, starting your own business can turn your life around for the good in many ways. Let’s take a look at why a start-up has its merits, irrespective of the risk and hard work involved.

Freedom

The first and foremost advantage is the freedom that your own business can give you, the freedom of work in the domain that you are passionate about. You get to choose when to work, what to work on and whom to work with. You can be at your creative best when you work for yourself. And doing what you love won’t stress you out in any way.

Low-Cost Beginnings

Depending on your idea and the capital involved, you can enter the market as per your convenience. You can always start on a small scale or you can always depend on SME loans. A business loan is a great way to finance and increase the working capital of your business. An SME loan can also provide you the platform to enter the market at your desired cost, with the freedom to pay it back in smaller installments, which will not become a burden for a start-up.

Make More Money

Once the business gets going, there is a far better chance of you making much more money than by working for someone else. You can write your own paycheck and not wait for someone else to handover one to you with those undesired reductions.

A Greater Life Impact

Since it is your own business and you’re doing something that you love, you will be more passionate about it. It will eventually lead to a greater and more positive impact on your life. That way, even if you have to put in those extra hours, the stress level will also be at minimum.

So, why wait to let your idea be transformed into reality? Check out your options for SME loans and get started with your own venture.

• Management