People are opting for social media platforms to start their own business as it is easy to start and requires less investment.
Social media is trendiest platform to start the business as many people are choosing to start small scale businesses through it. Since Lockdown, many people lost their jobs and finance became a major stress. During times like these, many housewives had initiated their own start-ups via social media by selling homemade products such as cakes and chocolates. Social media start-ups are easy to begin with, as they require less investment and no prior experience or license is needed.
College going students have also started these initiatives to earn pocket money. Nancy Vachheta, a student who has started social media start-up by selling handmade gift items shared, “Initially I started my business page on social media just for hobby, but later after four years, my business is very successful.” Another student Khushboo Soni who goes to Design College and has a social media start-up page where she sells low budget self-designed furniture says,” I didn’t have enough investment to buy my own studio so I thought that many people use social media so why not start there.”
Many local stores are suffering due to this, a designer studio owner Deval Shah says,” Our visitors have decreased because of Social Media start-ups.” Experts says that social media is better for marketing than to do a start-up. Sujal Shah, an experienced business professor says,” there are high risk factors in this business and it can work if you are planning for a longer period of time but if you are planning to do for shorter period of time like one year then it is of no use.” Thus one needs to invest their efforts for long term to make social media start-ups effective.