Delhi Vs Bengaluru Vs Chennai Vs. Hyderabad -Choosing the right city for starting your business
Okay, so you have decided what business to start, and still wondering which Indian city do you start your business from?
Decide on your requirement- is its cheap real estate, high quality manpower? Access to startup funds? Quality of life? Customer base and the right target audience?
Each Indian city offers a different set of advantages and their own challenges as well. Time to set your priorities clear and get into the finer nuances that can affect your business. Take your pick from among those cities, which have always been open to the startup culture in India.
Delhi being the national capital has attracted businesses within the city as well as the surrounding areas of Gurgaon and NOIDA regions. While many of the Fortune 500 companies have set their base in this region, there has been a steadfast growth in the growth of businesses-small and micro SMEs as well. A well-developed metro network, commuting within the city and to the outer circles of the city is a breeze.
Businesses can take advantage of low rentals costs and availability of retail and commercial spaces. Easy availability of funding and ease of doing business in this region are some of the key advantages of starting business in the Delhi-NCR region.
Secondly, the geographical location, the business climate is conducive for the growth of certain sector such as travel and tourism, advertising and communications, car and vehicle rental services, catering and food business and others in the service industry etc.
With the steady growth in population and growing populace in the nearby areas, growth prospects for small businesses and micro SMEs is huge. Above all, if your business involves interaction with the Central government or any of the ministries, What better place than Delhi?
Down South, the Chennai is known to attract talent and qualified workforce.
Because of the well-developed IT infrastructure, access to talent is easy. The city has always been a hub for the manufacturing sector as some of the auto giants like Nissan, Renault, Ford, Ashok Leyland, Mahindra and Mahindra have their presence here in the city and the nearby areas. Commuting within the city through a metro and a well-developed public transport is definitely one of the biggest advantages. So, for business in the IT and manufacturing sector, Chennai holds good promises.
Are you planning to start a business related to manufacturing sector- auto, auto components, hospitality sector, software and hardware business? -Chennai is place to be.
Infrastructure, availability of water and the weather-these factors have to be taken into consideration as may come in the way for a robust growth of businesses in general.
With the growth in the IT sector, Hyderabad has attracted a large pool of young, qualified talent from across the country. Right from Microsoft to Google, the city is a home to some of the great names in the IT segment. Finding the right talent and workforce should not be a problem here as best educational institutions are located right here. Phenomenal infrastructure, well connected roads connectivity to the rest of the country and the world are some of the greatest advantage for any of the new business- All of which you will find here in the city of Hyderabad.
Modern work places, co-working spaces, funding and guidance from the corporates has seen a steady rise in the start-ups. With a strong startup culture, the city has seen a rise of 2,500 new businesses between 2015-2019.
Coming to Bangalore, there has been sustained efforts by the government to create the right ecosystem for the success of startups. Incubation spaces in partnership with industry bodies, infrastructure, good connectivity, encouragement to innovation in educational institutions explains why the city has always been popular among startups. Bangalore is the only Indian city to be ranked among the best 20 startups ecosystem in the world. Big or small, the city has always been welcoming to all companies and has been successful in creating a world-class startup ecosystem in the state.
This explains why Bengaluru is a popular city when it comes to starting a business. 1. There is easy access to talent owing to the number of fine educational institutions 2. Raising capital is easy as there are a number of channels available for funding 3. Right infrastructure in place 3. Robust R&D setup 4. Affordable cost of living
On the flip side, the efforts made by the government is to stimulate growth in the technology based startups. The others may or may not find it environment favourable for them at the end of the day.
It is for you to make a pick- While each of these cities, have their own positive side when it comes to starting of business, they have their set of challenges too. The city should be determined on the basis of your business and the nature of operations.