Corruption and delays are preventing the growth of entrepreneurship in India, according to a new survey.
The survey, undertaken by social media network, LocalCircles, showed nearly 60 per cent of the citizens felt these bottlenecks were some of the biggest hurdles to growth of entrepreneurship in the country while only 14 per cent felt funding to be the main impediment.
The survey comes in the backdrop of Prime Minister Narendra Modi scheduled to > announce ‘Start-Up India Plan’ next week .
“About 35,000 unique people voted in the survey. Being a startup, it was also an eye-opener for us. We believed people would say capital was the biggest issue. However, about 60 per cent said corruption and bureaucratic and process inefficiencies were the biggest hurdles,” Sachin Taparia, Chairman and CEO of LocalCircles told The Hindu .
Ninety-eight per cent of the respondents said the >Start Up India mission should go beyond digital/technology startups and enable entrepreneurship at the grassroot level. Asked if the Central or State governments can be effective and efficient funding bodies for startup projects, 58 per cent of the people replied in the affirmative.
Commenting on the expectations from the mission, K. Yatish Rajawat, Chief Strategy Officer, LocalCircles, wanted a single window facility.