IT sector startups boom despite the economic slowdown
3 MIN READWe do come across articles on a regular basis highlighting the economic slow down in the country. A logical analysis of this scene will bring you to the conclusion that the start-up of IT companies is still coming up independent of the market scenes.
Core sectors of civil and mechanical engineering have undoubtedly seen a slump in the jobs as a result of the market scenes. But here is the other side that despite the job crisis in the core sectors the IT industry is still open to recruitments.
This article in no intention is putting up the points that advocate the fact that the IT industry is more lucrative than the core sectors but this blog is actually a kind of case study of the overall economic scenes of the startups.
Here are some interesting observations:
- IT is self-dependent
Most core sectors depend on the funds of the Government or some angel investor. But in IT what you all need to start a company is just a laptop (just kidding). But that’s still the reality because core sectors involve the tedious process of approval from the government bodies but here in IT you just need some innovative and technically expert individuals who are looking forward to new opportunities to convert into business. Also, various bidding portals too have more jobs posts pertaining to IT as compared to the core sector projects which makes this market more open to the software geeks.
- Qualitative Assessment
The yearly appraisal of the core sectors is more dependent on the number of years spent in the profession rather than the quality of the experience. Of course, this does hold true for the ones who are working and creating their models on software,……but that again brings us back to the IT. The IT industry is more focussed on the targets achieved rather than giving importance to the number of years of experience.
- High ROI
Let’s take an example:
You want to start a crusher plant. Just think of the investments that are needed for this.you must have come to a huge number right? In addition to this if you are looking to start a construction company that is dealing in highways than you will have to, first of all, invest the amount of your own and then after review from the NHAI and bank officials funds will be granted to disbursed to you.
And the return for this cost is also uncertain as the flow of money in these industries is also a time-dependent factor. But for the IT sector, you can use your networking skills to bring in more projects so eventually, there are no big investments required to start your fresh venture. And that does not require a huge handsome investment for a startup.
#Opinion
The above-mentioned points are not stated to compare the two industries. For the perennial development of a country, both the industries go hand in hand. But it is just a reference for someone who is looking for a startup and is falling short of funds. There are myriads of examples where the big industry tycoons from core sectors who started from scratch and now they are millionaires.
The bottom line is life is all about exploring the best of you. Once know the niche that you are expert and work with your passion then there is no one stopping you. And never forget that there are endless opportunities but “opportunities always come dressed in the clothes of work”