- Finding the right talent, high expansion costs are the biggest challenges for
Indian Startupswho want to expand to the US.
- According to a report by CII in 2020, about 155 Indian companies have created nearly 125,000 jobs in the US with investments exceeding $22 billion.
- Companies that want to expand to the US have to spend a lot of money and time.
About 75% of Indian startups want to expand their business in the US market but are unable to do so due to a lack of talent, a new report from
Many respondents also stated that they have tried to enter the US market in the past, but their hands were burned for various reasons, most notably hiring the wrong local person to lead sales for them, and were forced to abandon their plans. postpone,” the spokesperson said. report highlighted.
However, talent is not the only hurdle startups face. According to respondents, the biggest hurdles to US expansion are other than hiring talent, the cost of expanding and managing foreign teams.
“Indian startups have a strong interest and opportunity to bring their products to a market like the US. As barriers to entry decrease and access to global resources becomes more democratized, I believe the time is right for Indian companies to seize the opportunity and make a global impact.”
The survey received responses from more than 1,000 Indian startups, 42.9% of which were funded by Series A and the rest by seed funding or bootstrap.
In recent years, several Indian SaaS, food tech, hospitality and mobility companies have made their mark worldwide thanks to their cost-effective, world-class products.
According to a report by the Confederation of Indian Industries (CII) in 2020, about 155 Indian companies had created nearly 125,000 jobs in the US with investments exceeding $22 billion.
However, expanding in a market like the US is still not an easy task for small and start-up businesses.
“In most cases, companies looking to expand into the US have to spend a lot of money and time doing so. More often than not, the CEO or executive team has to visit the US to set up operations. The process can take up to six months and is not always successful,” the report said.
The report also revealed that more than 95% of startups looking to scale their business were looking for a local partner to manage sales in the country. About 24% of respondents said they wanted a partner who could also provide a local tax accountant, while 19% said they wanted a partner who could also provide a local attorney.
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