StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
Corporate healthcare programs for organizations and their workforce are critical aspects of employee benefits and overall workplace wellness. These are designed to provide employees with access to health services and benefits that can help improve their physical, mental, and financial well-being. Having a corporate Healthcare program can lead to increased productivity, reduced absenteeism and health care costs.
The growth of insurance and healthcare for organizations and their workforce has been driven by a number of factors. One major factor has been the increasing cost of healthcare, which has led many employers to provide more comprehensive insurance coverage to their employees as a way to manage these costs.
According to a report by the International Labour Organization (ILO), around 60-70% of the formal sector workers in India have access to health insurance through their employers. This includes both public and private sector companies. The percentage is even higher in larger companies, as they tend to have more resources to offer benefits such as health insurance. Additionally, the Indian government is also promoting the health insurance for employees through various policies and regulations.
However, the market still faces challenges, such as a lack of awareness about health insurance, a lack of trust in insurance companies, and a lack of a robust network of healthcare providers.
For this Interview, we invited Anuj Parekh and Sanil Basutkar Co-founder, HealthySure and we talked about the growth, challenges, insights, and future opportunities in the Corporate Health Insurance industry.
StartupTalky: Anuj, What does Healthysure do?
Healthysure is a group benefits insurtech. We offer 360-degree insurance and healthcare for organizations and their workforce. Our ultimate vision is to enable affordable and accessible healthcare to the Indian population, and we see the organization-sponsored health programs go a long way to achieving that.
We genuinely believe that a lot can be done to improve healthcare in the country, and we hope to play a big part in the coming years to help achieve that.
StartupTalky: What is/are the USP/s of Healthysure over other platforms?
We have created a first-of-its-kind platform in India that offers full-stack infrastructure as a service for group benefits to intermediaries. What this means is that we provide end-to-end support for our partners to sell group insurance and healthcare, right from pricing to operations to claim settlement. We aim to be the turtemint of group insurance.
StartupTalky: How has the healthcare industry changed in recent years (2022) and how has your company adapted to these changes?
The insurance industry regulator IRDAI has been swift in enacting reforms after the appointment of its new chairman. These reforms range from lowering the investment thresholds and liberalizing licensing for new insurance companies, opening insurance distribution avenues, developing a new insurance exchange platform and many more. The insurance industry too overall has been growing steadily. Healthysure is benefitting from this growth and as the industry matures, we will be one of the major contributors in the industry.
StartupTalky: How do you stay up to date on the latest trends and developments in your industry?
Insurance is a very active industry with respect to community engagements. We generally have plenty of opportunities to interact with stakeholders within the community through live events, networking meets, and webinars. In today’s world of WhatsApp and LinkedIn, it’s not very difficult to be in touch with your peers and stay updated on the newest trends.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
We track metrics such as the number of lives covered, the number of clients, gross written premiums, and total turnover.
StartupTalky: What were your company’s most significant challenges in the past year and how did you overcome them for 2023?
Our number one challenge is convincing first-time buyers of group health insurance to adopt sponsoring health insurance for their employees. The amount of premium is generally only a small fraction compared to an employee’s annual salary. The benefits that the organization gets are generally much larger than the outlay. Over 2/3rd clients are still first-time adopters, and we feel employers not having group insurance just lack a general awareness. We hope to address this in 2023 and make it easier for organizations to secure their employees’ health with our products, marketing, and technology.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off. (Some of the key things you adopted as a strategy in 2022)
We use the normal set of marketing strategies that revolve around content, SEO, SEM and outbound activities. What really sets our marketing apart is our channel of partners that help us source and secure deals. We are transitioning to a partner focused model. In a B2B business, this is generally a great way to scale.
StartupTalky: What are the essential tools and software you use to run your business smoothly?
We use a combination of tools and software such as Apollo, Zoho, Cashfree, Microsoft, G-suite among others.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world?
The Indian insurance industry is poised for hyper-growth in the coming years. There is a lot of untapped potential in the Indian market. Despite being the 5th largest economy, India is only the 10th largest insurance market (2021) with premiums of around US$ 125 Bn. For context, the US leads the globe with US 2,700 Bn and China comes in 2nd with US$ 700 Bn. The Indian insurance story alone is a very large one. But we also believe our technology and products could have global use cases.
StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?
As any startup grows, they become mature in understanding its industry. They realize there are certain problems that they can solve and are certain that they can’t. The hypothesis is that these startups have initially are invalidated and they are replaced by something new. We have a similar story, and through our experience in this industry, we are now working to add more value to this industry. We will continue to have the philosophy of build-learn-iterate and that can help us create something truly valuable to the ecosystem that in turn helps fulfill our vision.
StartupTalky: How do you plan to expand the Customers, product, and team base in the future?
We have invested heavily over the last year in our team, technology, and product. These investments will help us gain new customers faster in the coming year. We again have had the opportunity to create a scalable technology that will support multiple product use cases in the future. We continuously reach out to people that show interest in working with us, we have laid the groundwork to scale our team when we pursue aggressive growth.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship.
A lot of people have ideas for starting up. What makes entrepreneurs different is the intent and ability to execute these ideas.
We thank Anuj Parekh and Sanil Basutkarfor spending their valuable time and sharing their learnings with all of us.
Happy New Year to all the StartupTalky readers! Here’s to a year of hard work, innovation, growth, profit, and Impact!🚀
Now the world has become unsafe, and security has been a significant issue everywhere. No matter where you live or work, you need to feel secure to enjoy or work. Although commercial building offices require a certain security service, a residential area is similar. It is a place where your loved ones live, the ones for whom you earn so dearly.
Important for the safety of your loved ones
When you leave for work, your loved ones must be in a secure environment with armed guards. These uniformed guards are trained to avoid illegal activities in your residential complex. They reduce the feeling of vulnerability, improved safety, and make your home a perfect refuge. The safety of your loved ones is paramount.
Guard can respond to various hazards
Guards are trained to handle any illegal activities happening in your surroundings. They are highly trained individuals with training under stressful conditions. They are taught to use their clear judgment and assess the situation through the best possible mode of action. They detect incidents quickly and remediate them to protect life. The threat in your environment will reduce by efficiently handling security issues. They also help to manage panic and escalation effects in your area. Proper organization procedures and staffing will help to resolve issues efficiently.
Security of your precious goods
While you are out for work or vacation, you might be worried about the precious belongings at your home in an insecure environment. In that case, you won’t be able to enjoy your vacation work efficiently. Having security personnel will keep all your security concerns out easily. They will protect all your precious belongings and keep your home secure whether you are there or not. The security personnel is trained to let only authorized people inside residential complexes. It will help to minimize any criminal or unwanted person entering your area. They will help you to have a good night’s sleep in a peaceful environment.
Protection of parking area
With the increasing organization and population, people have access to comfort and resources. If you look clearly, the main utility everybody wants to own is a vehicle. It will help them to come to you properly and enjoy their family time better. Lots of automobiles will cause parking problems. Security personnel will sieve out unauthorized parking and save your parking space when you arrive back at your home, and you don’t have to look out for a perfect parking spot every day.
Conclusion
The safety of your home is your priority. It is a space where you can have a piece of mine. For any questions about security services, be sure to visit the NHN group. Patrolling security guards in residential areas will ensure that everything is under check and in and proper progressive environment. The committed and responsive personnel will match your security needs and keep illegal activities in check. A security service will keep you away from any security worries.
Ancient practices such as tithing or the offering of first fruits may be regarded as the precursor of the income tax. However, they lacked precision and were not based on the concept of a net increase. As civilization progressed, taxes were based on other factors like wealth, social position and ownership of the means of production.
The modern concept of income tax is based on a pre-supposition of a money-economy, accurate accounting and a general understanding of receipts, expenses and profits and an orderly society with reliable records. Hence, income tax can be defined as a tax imposed on individuals, commonly known as tax-payers, in respect of the income or profits earned by them.
In India, most taxpayers know about and take advantage of the INR 1.5 lakh deduction that is available under Section 80C. However, there are many other tax-saving opportunities that can help if further reducing taxes paid.
National Pension Scheme (NPS) Under Section 80CCD (1B)
Over and above the benefit that can be claimed by Section 80C, additional tax can be saved by investing up to INR 50,000 in NPS. This investment can increase the total deduction to be claimed to INR 2 lakh
Share of Instruments in Gross Household Saving
Interest Component of Home Loan Under Section 24
The interest component of a home loan can be claimed as a tax deduction under Section 24 of the Income Tax Act. A maximum amount of INR 2 lakh can be claimed on the interest payment on a home loan for a self-occupied property. If the residential property is not self-occupied and rented or deemed to be rented, the entire interest amount can be claimed as a tax deduction as there is no maximum limit has been prescribed. If the residential property is not self-occupied due to reasons of employment, business or profession, a maximum tax deduction amount of INR 2 lakh can be claimed under section 24.
Interest Repayment for First-Time Home Owners Under Section 80EE
This is applicable for first-time homeowners who do not have any other residential property on the date their home loan is sanctioned from a financial institution. Such homeowners can claim a tax deduction of up to INR 50000 under Section 80EE. This tax deductible amount is over and above the INR 2 lakh available under Section 24. Rules applying to claim this amount as a tax deduction specify that the total value of the residential property must be less than INR 50 lakh and the loan value should not exceed INR 35 lakh. This section was initially introduced in 2013-14 and was available for only two years before being re-introduced in 2016-17. This particular tax benefit is applicable till the loan amount is repaid with the annual limit capped at INR 50000.
Premiums Paid on Health Insurance Under Section 80D
The tax incentive for Section 80D allows for tax deductions the total amount that is paid as the premium amount for health insurance as well as the expenses that are incurred towards healthcare. Depending on the people and their age, who are included under the insurance coverage the limit to claim tax deductions can range from INR 25000, INR 50000, INR 75000 or INR 1 lakh.
Interest Earned From Savings Bank Account Under Section 80TTA
Section 80TTA allows all individual taxpayers and HUF to claim tax deductions on the interest earned from savings bank accounts in banks or banking companies, savings accounts in post offices or savings accounts in cooperative societies involved in the banking business. The maximum amount that can be claimed from all savings accounts is INR 10000. Interest earned above this limit is considered as ‘Income from Other Sources’ and is taxable. For senior citizens who are taxpayers, Section 80TTB is applicable which was introduced on April 1, 2018, and carries a lower tax implication on the interest income. Under Section 80TTB, up to INR 50000 can be claimed as a deduction.
Medical Expenses for Disabled Dependent Under Section 80DD
This tax deduction has been offered to help taxpayers take care of dependent disabled family members. These dependents are defined as spouses, children, parents or siblings. Disabilities covered under this policy include blindness, low vision, locomotor disability, hearing impairment, mental retardation, mental illness, autism and cerebral palsy. The following medical expenses can be claimed as tax deductions –
Expenses incurred towards medical treatment, nursing, training, rehabilitation of a dependent with a disability
Amount paid as premium for an insurance policy designed for such cases and satisfying the conditions mentioned in the law
The amount that can be claimed varies on the degree of the disability of the dependent. Up to INR 75000 can be claimed as a tax deduction annually if the dependent suffers at least 40% of any specified disability. A severe disability of 80% or more in a dependent allows the taxpayer to claim up to INR 1.25 lakh. A medical certificate from qualified institutions must be submitted by taxpayers to claim such tax deductions.
Treatment of Specified Diseases Under Section 80DDB
A taxpayer suffering from diseases like cancer, neurological diseases like dementia, motor neuron diseases, Parkinson’s or AIDS entailing expensive treatment costs can avail of tax deductions under Section 80DDB. The amount that can be claimed as a deduction is INR 40000 or the actual amount, whichever is lower. For senior citizens who are taxpayers or dependents, this limit is increased to INR 1 lakh.
Amount Paid as Rent With No HRA Payment Under Section 80GG
An individual taxpayer who does not receive HRA as a salary component or is self-employed can claim tax deductions towards rent up to INR 60000 annually under Section 80GG. The conditions for availing such tax deductions do not include taxpayers who own a house but live in rented accommodations within the same city or living in rented accommodations in another city and claiming deductions under Section 24 for repayment of home loan interest.
Repayment of Education Loan Under Section 80E
Students availing of education loans to pursue higher education are eligible to claim tax benefits on the repayment of the interest component under Section 80E. This deduction is available on taking an education loan from financial institutions and not from relatives or other family members. The tax deductions can be claimed from the year the repayment of the loan begins for seven consecutive years or until the interest is paid in full, whichever is earlier. There is no limit to the deduction claimed on the interest amount repayment.
Donations Made to Charitable Institutions Under Section 80CCC
Donations made to approved charitable institutions are eligible for tax deduction claims with appropriate supporting documents like a stamped receipt from the trust or institution, complete address, name of the trust and the PAN card number of the trust or institution. A tax deduction of 50% or 100% can be claimed depending on the charitable institution to which the donation is made. However, the total donation amount should not exceed a maximum of 10% of the adjusted gross total income of the taxpayer. The four ways in which donations can be categorized to claim the deduction are –
Donations to the National Defence Fund set up by the central government can be claimed as a 100% deduction without any qualifying limit
Donations to Jawaharlal Nehru Memorial Fund or the Prime Minister’s Drought Relief Fund can be claimed as a 50% deduction without any qualifying limit
Donations with 100% deduction subject to 10% of adjusted gross total income such as Government or any approved local authority, institution or association to be utilized for the purpose of promoting family planning
Donations with a 50% deduction subject to 10% of adjusted gross total income such as any institution which satisfies conditions mentioned in Section 80G(5)
Conclusion
These tax saving instruments can be a huge help for taxpayers to save on income tax and reduce income liability. This income, can then, be utilized towards investment and growing savings.
FAQ
Which is the best tax-saving instrument in India?
The following are the best Tax-Saving Instruments you can use
Equity Linked Savings Scheme (ELSS)
Public Provident Funds (PPF)
Senior Citizen Savings Scheme (SCSS)
Sukanya Samriddhi Yojna (SSY)
Tax Saver Fixed Deposit (FD)
National Pension Scheme (NPS)
National Savings Certificates (NSC)
Unit Linked Insurance Plans (ULIP)
How to save tax for 12 LPA?
Tax Deductions under Section 80(C) can help you to reduce your taxes. You can invest in PPF, EPF, ELSS, NSC and others to save taxes.
How can I save tax smartly?
Under Section 80C you can save your tax and these are the scheme which comes in 80C
Equity-Linked Savings Scheme: Equity Linked Savings Schemes are a type of mutual fund with a lock-in period of three year
Senior Citizen Savings Scheme
National Pension System
Term Life insurance premium
Public Provident Fund
National Savings Certificates
Tax-saving FDs
Home loan repayment
How much income is tax-free?
If your income is below ₹2.5 lakhs, you do not have to file Income Tax Returns (ITR).
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
The clothing industry in India is a significant contributor to the country’s economy, with a large domestic market and a growing export sector. The growth of the clothing industry has been driven by a number of factors, including population growth, urbanization, and increasing disposable incomes. The rise of fast fashion and the growth of e-commerce has also contributed to the industry’s expansion.
However, the industry is facing some challenges, such as a lack of infrastructure, inadequate technology, and lack of access to financing. Additionally, the industry also faces the challenges of sustainability and environmental and ethical concerns.
Revenue in the Apparel market amounts to US$96.47bn in 2023. The market is expected to grow annually by 3.34% (CAGR 2023-2027). The market’s largest segment is the segment Women’s Apparel with a market volume of US$43.65bn in 2023.
For this Interview, we invited Sagun Arora, Co-founder, Filmy Vastra, and we talked about the growth, challenges, insights, and future opportunities in the industry.
StartupTalky: Sagun, what’s Filmy Vastra all about? How did you start and what was the vision behind it?
Sagun Arora: Started in 2019, Filmy Vastra is an online clothing store that is primarily focused on comfort and quality. It is the one-stop shop for all kinds of merchandise of superficial heroes, and various OTT series among others. We have well-absorbed the latest trends with everyday essential merchandised clothes.
I vividly remember, that beautiful sunny afternoon in our 12th standard when we had goosebumps drifting apart since the schooling was getting over a few months back then when accidentally an idea of starting a business came across our minds in order to always stay together. Soon after, we started working on this idea and implemented it within a span of a few months and this is a bootstrapped-funded start-up.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?
Sagun Arora: As we all know, the pandemic had hit all of us so hard that it was nearly impossible to have even given a thought about adding any product/feature to the already existing business.
Though, as we are gradually coming out of this, we have a few developments in the pipeline. The four friends have strongly believed in the motto of “Delivering the best quality at an affordable price” and this has been the core USP of our product. We provide one of the finest qualities to our people because we are keepers.
StartupTalky: How has the clothing industry changed in recent years and how has your company adapted to these changes?
Sagun Arora: Our industry has constantly evolved in recent years and is very quickly adapting to the new millennials and the preferences of Gen Z. In this fast pace world, the retail industry has undergone many different changes. The influence of technology on the industry has laid a major change in customer behavior.
Automated artificial technology has made the whole experience of retail therapy a a lot more engaging. We as an online retail company, like several others have got an edge as this medium has become an everyday essential for customers. Today’s customers make nearly 37% of their monthly retail shopping via online websites. Also, for the retailers, they receive approx. 51% of their revenue through the internet.
StartupTalky: How do you stay up-to-date on the latest trends and developments in clothing industry?
Sagun Arora: Staying up-to-date in today’s mad-hatter world has become so easy. Especially, with social media such as Instagram, Snapchat, and Facebook, where everything has started to become a new trend, I would say that the lives of entrepreneurs like us have truly become like a blessing in disguise!
Over the last few months, we have witnessed a major development in our industry wherein social media as a web platform has been attracting various audiences to keep up their game in knowing the latest trends to follow. As a result, we, manufacturers do use social media extensively in merchandising business for better communication with our customers. As a retail company, we truly believe that the millennials know what’s trendy and what’s been common via their social media handles.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Sagun Arora: As a retail company, it is very important to keep a check on the growth and performance metrics of the business. Keeping this in mind, we have put in place a few metrics to track the company’s growth with respect to growth and customers.
Some of the commonly used metrics are:
Revenue growth
Per client revenue
Client retention
Customer satisfaction
Customer repurchases
StarupTalky: What were the most significant challenges in the past year and how did you overcome them?
Sagun Arora: As with any other startup, the last two years of the pandemic did take a toll on our lives, both, professionally as well as personally. We did undergo many challenges since we had just begun our company when COVID-19 hit the chores. The shortage of raw materials and restricted supply chain were the biggest challenge we faced last year. Procurement of good quality material for production is a continuous task but during the COVID times, it was indeed difficult, and that even hampered our work. Also, the supply chain restrictions affected our logistics majorly.
However, remaining strong and confident, Filmy Vastra survived through the fluctuating environment. Now, over the last year with our extensive focus on marketing, we have overcome the challenges and have even become the go-to online merchandise store for the youth. Honestly, I feel that time is the only currency, and hence I want to efficiently spend it on growing our one true love, our business in the next coming years.
StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customer engaged to stop churn?
Sagun Arora: Staying true to our commitments, we have been beyond blessed to have an on-repeat purchase ever since we first sold our product on 2nd May 2019. We have successfully shipped 65,000 products since the inception of Filmy Vastra.
Our timely communications with our beloved customers, engaging with them once quarterly, making them feel by sending them wishes on their special occasions and a few more such intriguing activities have led us to retain our customer base in three digits over the last few years. We strongly believe that once someone becomes our customer then it is for keeps and we make everything possible to ensure that they remain with us and we keep satisfying their demands.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Sagun Arora: Being in a retail business, engaging ourselves in marketing is an essential aspect. However, being all honest here, we spend very little on marketing since our strategies have been very different since the beginning.
We always believed in the organic route of marketing strategies as we cohesively consider the old school thought of “word-of-mouth business” as the best form of any marketing strategy for a product to help become a brand in the world.
One of the exciting growth hacks which we pulled off was during our initial budding days of setting up the business when we had connected with a small chunk of our close friends and played a wheel activity wherein each friend of ours got some freebies and a goody bag and the same friend then had to pass it on to their friends. To conclude, this fun activity became a big hit and it led to a lot of customer lead generation for our business. This was a small activity but surely an effective one for our company.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Sagun Arora: Living in a digitalized world, we have plenty of tools and software which are largely available in the market. However, with regard to what suits us the best, purely depends on the need for an hour. Stock maintenance tools are one of the very few customized software that we have been using to channel the business smoothly. It is a very continuous process, wherein as per the requirement, we keep adding and deleting the tools.
Some of the commonly used tools and software are:
Adobe
Illustrator
Corel
Tally
Production management tools
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Sagun Arora: According to a BuyHive report, small-sized retailers will dominate the D2C markets. Clearly, the procurement sector will soon see a major revolutionary change in the upcoming year 2023. The small new entry merchants will influence the retail industry globally. We have been witnessing a sudden rise in decentralized small-batch manufacturing across the country.
Also, the future of the e-commerce industry looks very bright at least in our industry since the age between 14 – 40 are addicted to smartphones, and laptops and are often found doing some retail therapy.
Urban India and the urge to go all for the brand have been growing at a rapid pace. However, it still slows down in rural areas. Our collective aim is to focus on the Tier-2 cities in the approaching financial year since we want to levy the first-mover advantage over our competitors.
The ever-changing market behavior toward the geopolitical environment and the trade sector still undergoing various dynamics between the major economies will have an important impact on global sourcing in 2023.
StartupTalky: What lessons did the team learn in the past year and how will these inform your future plans and strategies?
Sagun Arora: The past year was very tough for all of us including me and my team. The ‘Work from Home’ concept was a very non-traditional concept that became the only survival for the world. Indeed, it was extremely difficult to function from home, and took a lot of time to adapt ourselves but at last, it all ended well.
As of today, we have many people on our team who have been working from home ever since and I must admit that they have been doing their tasks very efficiently and effectively. We believe in a hybrid work culture where the safety, comfort, and convenience of our employees remain one of our many cores.
Also, the no meet-and-greet rule imposed by the government to combat the spread of the virus made us realize the importance of each other even more. The significance of a conducive working environment that we are used to. It was a year full of new learnings and we did unlearn many things. Over the period of time, we have started to value the least things which we had earlier tended to oversee in lieu of the highly dynamic world.
StartupTalky: How do you plan to expand the Customers, SKUS, and team base in the future?
Sagun Arora: Being in a customer-centric world, our constant aim is to keep expanding our business horizons. After successfully running our online store for nearly four years, we now have plans to strengthen our reach in two ways, via geographical expansion and bolstering our product line.
While we have been doing good and getting a good chunk of revenue from Tier-1 and 2 cities, now, it’s time when we want to open up an online store for the Tier-3 cities as well. We are well aware that there will be various logistics challenges involved but we have plans to work around this.
Stretching our product line to further launch a range of handbags, footwear, and other accessories, we are all in for expanding our horizons. This will be led to better SKUS and as a result, this will increase the need for a bigger team base in the future.
This will allow us to set up a few more manufacturing plants in other locations in the country based on the company’s parameters.
StartupTalky: With so much hype around d2c brands spending on ads, What will be your growth strategy organic or inorganic? How to plan to work around SEO and content marketing?
Sagun Arora: When we started our business, we opted for inorganic marketing. We used the high-voltage mode of marketing such as advertisements. As we are growing in our business, we have marginally shifted to organic marketing. Heading the finance here, I am deemed to do the maximum cost optimization of our business and therefore we have plans of going all organic through extensive use of Search Engine Optimization (SEO) and content marketing.
StartupTalky: One tip that you would like to share with another d2c founder?
Sagun Arora: In my opinion, the D2C concept got much popularized during the pandemic in 2020. Currently, India stands strong in the 3rd position after USA and China as the third largest market for the D2C segment. It is a medium where the manufacturers sell their goods and products directly to the end users.
I strongly believe that there is still so much more that the D2C founders can bring to the table in various ways. For D2C brands, product and marketing are the two main areas where they need to focus on further establishing themselves. Also, they should keep a close tap on customer retention by giving them something out of the box.
We thankSagun Arorafor spending his valuable time and sharing his learnings with all of us.
Remember when crypto mining was something anyone could do with just a decent computer? Yeah, those days are long gone. Nowadays, mining is a pricey and technical endeavor that’s out of reach for most people. This has led to a situation where mining is centralized in the hands of those who can afford it. But what if we could change all that? PLC Ultima, a new blockchain-based ecosystem, is making crypto mining more accessible to the masses with their new approach to crypto mining: mobile apps.
In decentralized systems like blockchain, the community plays an active role by running nodes that check transactions or launching mining farms to write transaction blocks in the blockchain. In return, active participants are rewarded with digital coins for their work. This is what keeps decentralized systems alive and allows for a fair distribution of rewards. But with the rise of expensive mining equipment and high energy consumption, it’s become harder for regular people to participate in mining.
PLC Ultima’s discovered a solution to this problem: minting. Instead of buying expensive and energy-consuming equipment, minting is done via apps on smartphones. In general, smartphones lack the necessary hardware to perform the complex mathematical calculations required for mining. Cryptocurrency mining requires a dedicated computer with a powerful graphics processing unit (GPU) or application-specific integrated circuit (ASIC) to perform these complex calculations. Smartphones, on the other hand, have less powerful processors and are not designed to handle the intense computations required for mining. Additionally, mining on smartphones would consume a large amount of power, which would have a significant impact on battery life and could lead to overheating. But minting invented by PLC Ultima team is a new approach to the blockchain technology.
Minting makes it accessible to millions of people and allows for a more energy-efficient way of producing new coins. Right now, over 1.5 million people worldwide are using it and that number is only going up. Recently, PLCU, a native coin of the ecosystem, broke into the top of the most popular coins. According to Coingecko, it was included in the list of the ten most trending coins in India among other already well-known cryptocurrencies, such as Bitcoin and Ethereum.
PLC Ultima’s goal is to give people around the world new, high-tech ways to improve their standard of living. The project team doesn’t want the barriers of traditional mining to hold people from evolving economies back from participating in the crypto world. With PLC Ultima’s mobile minting, anyone can join in and earn rewards for supporting the ecosystem. It’s a fresh take on an old concept, and it’s making crypto mining accessible to all. The PLC Ultima blockchain is an updated version of Litecoin blockchain, with a focus on speed and energy efficiency.
The PLC Ultima ecosystem was launched by Alex Reinhardt, a seasoned venture investor, economist, and entrepreneur with a track record of launching successful startups and fintech platforms.
Ditching the expensive equipment and deep technical knowledge, PLC Ultima has revolutionized the game with their mobile-based crypto mining solution. Their two native coins, PLCU and PLCUX, make it easy for users to participate and earn rewards. With PLCU serving as the transactional coin and PLCUX focused on generating new coins, the deflationary model of PLCU ensures scarcity by burning coins and increasing demand on the secondary market.
To get involved with PLC Ultima, all users have to do is download their free apps (Ultima Farm and Ultima Wallet) on their smartphone, register a new account, and buy some PLCUX coins (native coins of the PLC Ultima ecosystem). To start minting, they just freeze a certain number of these PLCUX coins for a certain period of time. They will be rewarded on a monthly basis for storing and freezing coins in their wallets, and the more coins they freeze, the higher the reward.
With PLCUX only tradable for PLCU, which can be found on multiple exchanges, including Gate.io and MEXC, it’s never been easier to start minting and earn rewards all from the convenience of an ordinary mobile device.
Apart from minting, the PLC Ultima ecosystem offers a wide range of actively used services, including PlatinHero, a blockchain-based crowdfunding platform with advanced smart contracts, PlatinDeal, a global marketplace that accepts cryptocurrency payments, Ultima cashback program, and PLC Card, a banking-like card for everyday use with digital assets and high daily limits of up to €150,000.
For those who deserve commendations, American Express Co. leads the page! One of the biggest credit companies in the world, American Express has been serving its customers with absolutely free offers and services for ages now.
The company has come a long way ahead of its competitors. American Express gathers its revenue through the transactions made by merchants’ partners along with annual membership fees and interest income.
In the market, there isn’t any potential company that can offer such services and a great formation of cash rewards, hotel upgrades, theme park admission, gift cards, and rental cars. Customers can get these facilities very easily, just by purchasing the essential goods.
American Express is considered remarkable when it comes to customer service and profit revenue. It holds two major sources of revenue, that is merchant partners and cardholders.
Although the merchant fees are quite high with such great rewards programs, no one put its service down. Its rewards program is incredible and brings out tremendous results and a customer base. In this article, we will be discussing the incredible business model and revenue sources of the very prominent credit card company, American Express. Let’s begin!
American Express, also referred to as Amex, is one of the biggest multinational financial services companies in the world. The company is headquartered in New York City, United States.
American Express was founded in 1850 and holds the weight of one component among the count 30 of the Dow Jones Industrial Average. Stephen J. Squeri works as the chairman and CEO of American Express, alongside Jeffrey C. Campbell holds the post of Vice Chairman and Chief Financial Officer.
Forbes mentioned American Express as the most valuable brand in the world with the 23rd position, based on the net valuation of the company worth $24.5 billion in 2017.
By the time of late 2019, American Express carried over 114.4 million cards active among which, 54.7 million active cards were in the United States with average annual spending of $19,972 each.
Later in 2020, American Express was ranked 9th on the list of Top 100 Companies to Work for 2020 by Fortune Magazine. This ranking was based on the survey for employee satisfaction.
American Express actively functions in around 175 countries with a total of 2,300 offices in the world. American Express initiated three major companies, The American Express Bank Ltd. (AEBL), American Express Travel Related Services (TRS), and American Express Financial Advisors.
Key Products and Services of American Express
When it comes to American Express services, the company is very promising. It offers financial, travel, and insurance services to its customers.
Its key products are as follows:
Charge Cards
Traveler’s cheques
Credit cards
Corporate banking
Target audience of American Express
American Express has a huge customer base. The company mostly has affluent customers. American Express targets the customer group that considers business as their biggest opportunity to convert. It targets its audience with great services and reward programs.
Business Model of American Express
There is quite a broad range of customer groups in American Express. The company categorizes its customers into multiple sections including large corporations, small businesses, consumers, and mid-sized companies.
Basically, its business model is a two-sided market that activates the interaction between the cardholders and merchants partners. For its consumers and small businesses group, American Express provides a diverse variety of credit card products and charges, stores value, travel-related, and co-brand cards.
Credit cards: It exemplifies the company’s wide range of payment terms, rate & fee structure, and grace periods.
Charge cards: Cards with no pre-set spending limits. These are primarily designed for payment methods, not for financing purchasing.
Prepaid cards: Payment cards that are pre-loaded with money for later purposes.
Travel services: Offers premium vacation travel along with real-time services provided by the company’s proprietary network.
American Express generates the largest fraction of money through discount revenue streams that exemplify the transactional earnings from merchant partners. Alongside, the company has many other revenue sources including cardholders who are charged with little amounts of fees through annual membership fees, conversion fees, and interests on notable balances.
American Express follows the spend-centric model which aims to increase the total transactions number on its card through specific offers and fewer fees. The major revenue sources of American Express are as follows:
Discount revenues: Generates the largest fraction of money for the company. In this, the company charges little fees from the merchants when a cardholder pays for a purchased item from the merchant’s shop, through their card.
Travel commission and fees: The transaction fees and management fees that are charged by the customers as well as suppliers.
Net card fees: The annual card subscription fees from the cardholders.
Loan interests: Certain interests are earned from cards with notable balances.
Other commissions and fees: Charged on foreign exchange conversions, loyalty coalition-related fees, card fees, and other service fees.
Conclusion
American Express follows a very distinct business model and strategy. The company holds a very strong position in the global market with an immense customer base. American Express sells its products and services through numerous channels such as direct mail, third-party sales, online applications, and others. The company is working towards its global expansion more vibrantly and increasing its consumer base.
FAQs
Who is the founder of American Express?
American Express was founded by William Fargo, Henry Wells, and John Butterfield in 1850.
Who is the CEO of American Express?
Stephen Squeri is the current CEO of American Express.
How does American Express make money?
American Express makes money from interest income, annual card fees, and payment processing fees.
Spotify is a premium music streaming service and one of the most popular internet destinations. It’s an excellent platform for musicians, artists, content creators, and other podcasters to share their work with a worldwide audience. Among the numerous digital media, Spotify possesses a number of traits that distinguish it as the undisputed king of music and audio streaming services.
Daniel Ek created Spotify in 2006 with the straightforward idea of deterring music piracy and assisting artists in becoming more fairly compensated. Because of its simplicity and marketing approach, it now has nearly all of the best up-and-coming singers and songwriters as well as local musicians on its platform. Spotify’s exceptional product and the time of its launch are both key contributions to its success.
The average Spotify user is committed, spending around 118 minutes each day listening to the service, and the audience is more feminine than male (56% to 44% male). Young adults are the most common Spotify users, although elderly folks also like the app.
Spotify leverages user data to find and follow up-and-coming local musicians, who are subsequently marketed to a global audience. This article discussed some key factors that influenced this company’s activities.
Spotify Monthly Active User Region wise
Let’s look into the top strategies in detail that help Spotify to secure a 34% market share
Freemium Model
A free basic service is provided as part of a freemium pricing strategy. Freemium, which offers a limited, ad-supported music service for free, continues to be what sets Spotify apart from its competitors. Between-song advertisements are a source of revenue for Spotify for those who choose the free membership. The beauty of the freemium business model is that users can listen to music for free, which in turn helps to eliminate the need for piracy.
Spotify’s free service is a great way to increase its user base and get more word-of-mouth referrals. Having a free version of the service allows more people to try it out and see how it can benefit them. In turn, these users are more likely to tell their friends about Spotify, which helps the company grow even more. More than half of Spotify’s listeners choose the free version, which boosts the chance of word-of-mouth referrals while simultaneously helping the company generate revenue from ad listening. These referrals can boost sales.
Spotify Annual Revenue from 2016 to 2022
Personalization
Spotify’s AI interface is designed to be personalized for each user. Whether it’s a millennial using Spotify for podcasts or music, or Gen X searching for trending Instagram music, Spotify is ready to cater to all their preferences. Personalization may help organizations stand out in a crowded market. Businesses may differentiate themselves from the competition and retain customers by producing content that is specifically tailored for the user.
In order to make its AI interface more individualized for each user, Spotify redesigned it in 2016. Accordingly, each user gets content that is customized to them (such as pre-made personalized playlists). In addition to making the entire experience more pleasurable, this assists individuals in discovering new music that they are more likely to appreciate.
Minimalistic App Interface
It’s important for brands that offer services on digital platforms to prioritize the user experience above all else. Spotify excels in this area by offering in-app features that are user-friendly and on target. Spotify’s simple design is an improvement over other music apps’ complex designs and offers a premium experience, even in the free version.
Spotify wins users over with its sleek and ad-free design. The app’s audio ads are interactive and non-intrusive, which shows that the company knows how to strike a balance between being impactful and keeping things simple! The color scheme used on the app and the website is very energetic and attracts the millennials and GenZ.
Number of Spotify Premium Subscribers
Connecting Artists for Collaboration
Spotify not only increased its audience base by collaborating with artists, but it also gained exclusive content. This is a familiar technique that not many companies use. By including visual and audio elements in their songs for free, Spotify made the artist’s work more accessible to their listeners. This is a major reason that more and more artists want their music to be published on Spotify.
In 2020, when people were stuck at home, the podcast community started to grow. Spotify saw an opportunity and entered the market. They not only signed deals with big brands like Joe Rogan, but also featured people like Robert Downey Jr, Elon Musk, and Mike Tyson exclusive on Spotify. This gave them a huge advantage over their competitors.
Emotional Ads for Promotion
In 2013, after Spotify started to face competition from companies such as Apple and Amazon, they released an advertising campaign that focused on the emotional power of music. The campaign was very successful in helping Spotify stand out from its competitors and remains one of the company’s most memorable marketing moments.
They released three video ads showing people of all ages and backgrounds enjoying music. While the ads feature different people, they all capture the joy and emotion that comes with listening to your favourite artist. The narration describes the feelings the people are experiencing, and how music can transport you to another place entirely.
The following year, Spotify introduced its #thatsongwhen campaign, which invited users to express the feelings and experiences connected to their favourite songs. At a period when Spotify had just about 8 million paying users, both of these efforts aimed to raise the company’s brand awareness (compared to 155 million today). #Onlyyou campaign in 2021 and #Spotifywrapped in 2022 were all part of the emotional marketing strategy. Spotify also leverages emotional marketing to refresh its connection with its audience.
People’s decisions can be influenced through emotional marketing. Ads become more memorable, shareable, and likely to boost purchases when they appeal to human emotions. When you examine the data, you’ll see that emotionally driven businesses get three times as many word-of-mouth recommendations and that emotionally driven advertisements are almost twice as likely to be successful. They also result in a 23% boost in sales.
Jump Onto Social Media Trends
You must follow Spotify on social media if you enjoy music. The well-known music streaming service frequently publishes articles on various musicians and new album information. Spotify works on keeping unified branding across all of its social media profiles, which include separate accounts for various geographic regions. This social media marketing helps Spotify gain a large audience base. The platform not only runs various hashtag campaigns and social media trends to create awareness for its brand but also collaborates with social media influencers and runs sponsored ads. By working with influencers, the platform is able to promote its brand in a variety of styles that are sure to reach a wide audience.
Social media trends can quickly make or break a business. In 2018, an auditory illusion was posted on Reddit that went viral. While some listeners claimed a man was saying the name “Yanny,” in an audio clip, others were certain it was the word “Laurel.”Spotify noticed the trend and decided to create a new billboard that capitalized on the conversation. Yet again, the brand’s cutting-edge approach was a hit and caught the attention of social media users.
Brand Collaborations
As of 2022, Spotify has partnered with 76 companies across the globe. Spotify partners with a variety of publishers and music labels to expand their digital reach and connect with new audiences. By collaborating with these different companies, Spotify is able to offer a wider range of music and videos to their users.
A notable brand collaboration is with Starbucks where Starbucks members are able to curate Spotify playlists that will be played in their stores. Apart from this Starbucks employees get a Spotify premium subscription. This is a great way for Spotify to get more exposure and reach a wider audience.
Although Spotify is a very creative company, its logo is very bland and unassuming. It’s surprising that a company like Spotify, whose identity is based on music and innovation, would have a symbol that is anything less than artful. But I guess the crooked classic Wi-Fi emblem is just so iconic at this point that it’s become their identity. The key, obviously, is consistency.
Over the years, Spotify has evolved and changed its brand identity several times to reflect different styles and eras. However, the company has kept its original icon throughout these changes to offer a sense of familiarity and consistency to its subscribers.
Leveraging User Data
Spotify has changed the game when it comes to how technology and data are used together. Their algorithms are designed specifically to help users explore new music and expand their list of songs. By recording users’ behaviours, interests, and past actions, Spotify is able to create a customized playlist for each person with personalized recommendations. This is just one example of how they’re using technology and data in an innovative way to improve the user experience.
Spotify’s best example of leveraging user data is its “Discover Weekly” feature. Another is Spotifywrapped. Hope this helps you craft your business marketing strategy better!
Conclusion
Spotify is a great solution if you enjoy streaming music and podcasts. Not only do they have a huge selection of music and artists, but you can create your own playlists, save songs for offline listening, and follow your favorite artists.
Spotify is one of the most popular streaming music apps and made many positive changes in the music industry. It not only allows the audiences to discover musicians but also local artists will be able to use Spotify as a platform to reach a global audience.
FAQ
What is Spotify’s target market?
The typical Spotify user is young adults – Millennials and Gen Z – however there is not a small audience of older adults aged 55+ who also enjoy the app’s music.
What is Spotify’s biggest market?
The United States is responsible for the single largest Spotify market in the world.
What makes Spotify unique?
Spotify keeps listeners listening with its personalized Discover Weekly and Release Radar playlists. Listeners who want to put in a little effort to find new music can sift through any number of the artist- and song-specific radio stations.
What are the best marketing strategies for Spotify?
The following are the best strategies of Spotify
Freemium Model
Personalization
Minimalistic App Interface
Connecting Artists for Collaboration
Emotional Ads for Promotion
Jump Onto Social Media Trends
Brand Collaborations
Consistent Brand Identity
Leveraging User Data
How does Spotify use social media to promote?
Spotify runs multiple regional accounts on Instagram, which has more than 8.5 million followers. They regularly post images of popular artists and top tracks trending on the platform. This helps them share only the most relevant content for each country, thereby targeting the right audience for their content and business.
Are you tired of slow loading times and frustrated customers? A Content Delivery Network (CDN) may be the solution you need! According to research, a 1-second delay in page load time can result in a 7% reduction in conversions. A CDN can help speed up your website by caching and delivering content from servers closer to the user’s location. In fact, a study by Akamai Technologies found that using a CDN can increase website performance by up to 40%.
Today in the fast-paced world, nobody wants to wait for more. Slow-loading websites will significantly reduce your reach because customers will leave your site and may visit your competitor’s site. So to grab your customer and provide an incredible browsing experience, Content delivery networks will help you.
A Content Delivery Network (CDN) is a globally distributed network of servers that are designed to deliver content to users with high availability and performance. The primary function of a CDN is to cache and distribute content, such as images, videos, and other multimedia files, from the origin server to a network of edge servers. This network of servers is strategically located in data centres around the world, so that content can be delivered to users from the server that is closest to them.
The use of a CDN improves the speed and performance of websites and web-based applications by reducing the physical distance that data must travel. This results in faster load times and improved user experience, particularly for users who are located far away from the origin server. Additionally, CDNs also improve the availability of content by distributing it across multiple servers, thus reducing the risk of downtime in the event of a server failure.
Global Content Delivery Network Market
CDN also helps to reduce the traffic on the origin server, by caching the most frequently accessed files on the edge servers, it will help to reduce the load of the main servers, and also provides security benefits by filtering out malicious traffic.
The Best Content Delivery Network
Content Delivery NetworkProviders serve content to end-users with high availability and high performance through a distributed network of proxy servers deployed in data centres. Here we have provided the list of the best CDN available which is used widely by companies.
Cloudflare
Rating
4.5/5
Best For
Larger Sites and Web Hosting
Cloudflare is a popular Content Delivery Network (CDN) that helps to improve the performance and security of websites. It operates one of the largest networks of its kind, with data centres located in over 275 cities worldwide. This allows it to provide fast, reliable access to websites and other web-based content, no matter where the user is located.
Cloudflare
In 2022, IDC recognized Cloudflare as a leader in IDC MarketScape for Commercial Content Delivery Network Services worldwide. On average 39 million HTTP requests are served by Cloudflare every second. It is a trusted, secure, and reliable content delivery network to consider.
The company provides a range of security features designed to protect websites from various types of attacks, including DDoS (Distributed Denial of Service) attacks, which can cripple a website by overwhelming it with traffic. Additionally, Cloudflare offers several performance enhancements such as minification, bundling and compression, and caching to improve website speed.
Features Of Cloudflare:
It supports newer protocol versions like HTTP/3 and QUIC that allows faster and more efficient communication between browsers and servers.
CNAME Flattening feature that allows Cloudflare to be used as an origin server, allowing users to use their own domain name while still taking advantage of Cloudflare’s features.
Cloudflare provides detailed analytics and logging, giving website owners insights into how their site is performing and helping them to identify and troubleshoot issues.
It allows for easy SSL/TLS encryption for a website, which not only makes the website safer but also improves SEO.
Cloudflare’s WAF (web application firewall) is designed to protect websites from common web-based attacks, such as SQL injection, cross-site scripting (XSS), and other types of injection attacks.
Advanced DDoS protection includes features such as traffic filtering, rate limiting, and automatic IP blocking.
Pros:
Modern Static & Dynamic Caching
The free plan is available
Advanced cache control
Role-based access
Single sign-on
24/7 email & phone support
100% uptime
Cons:
Configuration is complex
Lack of learning resources
Pricing:
Free: $0
Pro: $20 /month
Business: $200 /month
Enterprise: Custom
Google Cloud CDN
Rating
4.5/5
Best For
Better Collaboration and Website Page Loading
Google Cloud CDN is a service offered by Google Cloud Platform that enables users to serve content to end users with low latency and high availability. It is built on top of the same global network that powers Google’s own services like Search and YouTube, which provides a high level of performance and reliability.
Google Cloud CDN
it integrates seamlessly with other Google Cloud services, such as Google Cloud Storage and Google Cloud Load Balancing. This makes it easy for users to configure and manage their content delivery infrastructure within the same platform they’re already using to host their content.
The service supports a wide range of content formats, including HTML, JavaScript, images, and videos, and automatically optimizes content for fast delivery.
Features Of Google Cloud CDN:
It offers security features such as an IP-based firewall, Security policy, and DDoS protection to secure your content and protect it against DDoS attacks.
It provides control over how content is cached and also provides the ability to invalidate cached content as needed to ensure freshness.
Offers features such as SSL offloading, which allows users to serve content securely over HTTPS without having to manage SSL certificates themselves.
It can cache your content across all its edge locations which helps to improve the load time and reduces the load on your server.
Automatically compresses text and images, and can also resize images to reduce their file size.
Offers Cloud CDN and media CDN to cater to different types of files.
Compliance with all major standards including, HIPAA, PCI-DSS, SOC1, SOC2, SOC3, ISO 27001, ISO 27017, ISO 27018, and ISO 27701.
Pros:
Supports every latest protocol including HTTP/3 and QUIC
Logging and monitoring
Google Cloud Armor support
Identity and Access Management
configurable expiration time for caches
Pay-as-you-go pricing
$300 free to use the services for 90 days
Cons:
Complex to use for beginners
Difficult to estimate the final cost
Pricing:
Cache egress: $0.02-$0.20 per GB
Cache fill: $0.01-$0.04 per GB
HTTP/HTTPS cache lookup requests: $0.0075 per 10,000 requests
Note: Pricing is based on usage of cache fills, Cache egress, and cache lookup requests in GB (gigabyte). Rates are different for different regions.
Amazon Cloudfront
Rating
4.4/5
Best For
Static Content
Amazon CloudFront is a powerful and widely used content delivery network (CDN) offered by Amazon. Amazon provides its cloud-based services under the name Amazon web services (AWS). It offers easy integration with other AWS services, such as S3, Elastic Load Balancing, and Amazon Route 53. This allows customers to easily distribute their content globally while also taking advantage of other AWS services.
Amazon CloudFront
When a user requests content that is served by CloudFront, the request is routed to the edge location that is closest to the user, and the cached content is delivered from there. This reduces the distance that data needs to travel and improves the speed at which the content is delivered to the user.
Its unique set of features, combined with its global network of edge locations and integration with other AWS services, make it an excellent choice for anyone looking to deliver content quickly and securely to a global audience.
Features Of Amazon Cloudfront:
Provides support to a range of content types, including static and dynamic content, as well as live events and streaming media.
Ability to serve up content securely using HTTPS and WebSocket protocol, which helps to protect the privacy and integrity of data.
AWS management console to manage the offered services with a simple web interface.
To prevent the data from being attacked it uses the AWS shield, AWS web application firewall (WAF), and Amazon route 53.
It provides access to only authenticated viewers using token authentication.
Offers features like Lambda@Edge that improve the computation speed significantly and increase the performance.
Pros:
Offer pay per use pricing plan
SSL/TLS encryptions and HTTPS
Complaint with all major compliance standards
DevOps friendly
AWS free tier pricing to start using CloudFront for free
Excellent support
Cons:
Documentation lacks in providing better assistance
Costlier than competitors
Pricing:
All data transfer: $0.020 – $0.160 per GB
HTTP requests: $0.0075 – $0.0160 per 10,000
HTTPS requests: $0.0100 – $0.0220 per 10,000
Note: pricing is based on the amount of data transferred and the number of HTTPS requests. Rates are different for different regions.
Microsoft Azure CDN
Rating
3.7/5
Best For
Building, Deploying and Managing Services
Microsoft Azure CDN is a powerful and versatile content delivery network that allows users to deliver their content quickly and efficiently to users around the world. With its integration with other Azure services and wide range of features, it’s an ideal choice for businesses that want to optimize their content delivery and improve the performance of their online presence.
Microsoft Azure CDN
It allows users to deliver content, such as web pages, images, videos, and other files, to users faster by caching copies of that content on servers located in various geographic locations. This allows users to access the content from the server closest to them, reducing the amount of time it takes for the content to be delivered.
Azure CDN is an ideal solution for businesses and organizations that need to deliver large amounts of data and media to users around the world, and that want the flexibility and integration that Azure services can provide.
Features Of Microsoft Azure CDN:
Azure CDN support for various protocols such as HTTP/HTTPS, WebSockets, HTTP/2, and QUIC.
It offers features such as caching rules, security options, and analytics for monitoring the performance of its content.
Custom domain and origin support, which allows customers to use their domain names to deliver content.
It provides seamless integration with other Azure services and hence easy management of different services.
HTTPS, WAF, and DDoS protection to protect the data from cyber-attacks.
token-based authentication to help protect against unauthorized access.
SSL and TLS security to ensure proper deliverability of data over the internet.
StackPath CDN is a content delivery network (CDN) service that helps to distribute content quickly and efficiently to users all over the world. It offers a wide range of advanced security features, such as a Web Application Firewall, DDoS protection and SSL/TLS encryption. This makes it well-suited for businesses that need to protect sensitive data or are at a higher risk of cyberattacks.
StackPath CDN
A unique feature of StackPath CDN is its “Custom Rules Engine” which allows for advanced customization of caching and delivery rules, such as creating custom caching headers, setting up custom origin pull rules, and even creating “edge workflows” which allow for complex logic to be executed at the edge of the network.
It offers a user-friendly interface with real-time analytics and a range of advanced features. This makes it easy for website owners to monitor their website’s performance and make adjustments as needed. It is an all-in-one solution for website owners looking for an efficient and secure way to deliver their content to a global audience.
Features Of Stackpath:
StackPath has a robust API that allows for automation and integrations with a wide range of tools and services.
It allows users to add custom rules to the CDN configuration, which makes it easy to optimize their website’s performance and security.
Offer DNS services that empower website owners to manage their DNS records and improve website loading time.
Real-time analytics to monitor the performance of the website and modify the settings as per the requirement.
Edge computing service to compute complex computation on the edge of the network, rather than at a central location.
Custom rules engine that automates the content delivery behaviour.
Pros:
Content customization
Built-in analytics and reporting
Asset optimization
Serverless scripting
Image optimization
SSL certificate management
Cons:
Limited price range
The pay-as-you-go plan is not available
Pricing:
Basic: $25 /month
Enterprise: Contact sales
KeyCDN
Rating
4.5/5
Best For
Static content, HLS and HTTP live Streaming
KeyCDN is a robust content delivery network (CDN) that helps businesses speed up their online content delivery to customers around the world. It provides a simple and intuitive user interface that allows customers to easily set up and manage their CDN service, without the need for any technical expertise.
KeyCDN
KeyCDN offers a variety of advanced features such as real-time analytics, custom SSL certificates, and a powerful API. This allows businesses to have more control over their content delivery, and the ability to customize their CDN to fit their specific needs.
Features Of KeyCDN:
Integration with all the major content management systems including WordPress, Joomla, Magento, Drupal, Prestashop, laravel, etc.
Robust image processing to optimize the image in such a way that it loads faster.
It offers a 14-day free trial with no requirement for a credit card.
Secure token authentication creates an additional layer of security by allowing requests with only valid tokens.
The bad bot blocking feature will help you to reduce the load on your server by blocking bad bots, and crawlers.
You can use account access rules to restrict the access of your resources based on IP address or network.
Pros:
24/7 customer support
DDoS protection
Two-factor authentication
Easy-to-use and affordable
User-friendly dashboard
RESTful API is available
Cons:
Minimum credit requirement of $49
Poor support
Pricing:
$0.01 – $0.10 per GB (Pay as you go)
Note: pricing is based on bandwidth usage and location.
CDN77
Rating
4.7/5
Best For
Web Resource Loading
CDN77 is a top-performing Content Delivery Network (CDN) that is revolutionizing the way web content is delivered to users around the world. Unlike traditional CDNs, CDN77 is built on the latest technologies, utilizing cutting-edge hardware and software to ensure lightning-fast delivery of your content. With over 80+ points of presence (PoPs) located in key data centres across the globe, CDN77 is able to deliver content to users in even the most remote locations. This ensures that your website or application is always available and responsive, regardless of where your users are located.
CDN77
CDN77 differentiates itself from other CDN providers in several ways. One key differentiator is their focus on providing an easy-to-use, user-friendly interface for managing the delivery of content. The CDN77 platform includes a variety of tools and features that make it simple for users to configure and manage their CDN service, such as an intuitive control panel, real-time analytics, and integration with popular content management systems like WordPress.
Features Of CDN77:
The service supports various protocols such as HTTP/2, QUIC, WebSocket, and others.
Customizable caching rules of CDN77 allow you to create custom caching rules to fine-tune the way content is delivered to users.
Detailed statistics and analytics on the performance of your website or application, can be used to optimize delivery and identify potential issues.
Simple to block traffic from any specific IP address or country using the feature of IP & Geo whitelisting/blacklisting.
OWASP Core Rule Set (CRS) helps to protect your data with the top 10 vulnerabilities.
You can generate a secured link with an expiry for any specific IP address with the help of a secure token.
Prefetch to upload the content on the edge server and Purge to delete the cached content from the edge server.
Pros:
A free trial is available
Smart WAF (web application firewall)
Data centre control
REST API for CDN Management
User-friendly interface
AWS S3 storage linking
Cons:
User onboarding is not available
Pricing:
Upto 150TB: $0.009 – $0.033 per GB
150TB – 50PB: Contact sales
50PB – 500PB+: Contact sales
Akamai
Rating
4/5
Best For
Caching Content and Traffic Management
Akamai Technologies is a company that provides a content delivery network (CDN) service called Akamai Intelligent Platform. Akamai’s CDN is one of the largest and most widely used in the world, with over 365,000 servers in more than 135 countries. It is often used by large organizations and companies, such as banks, media companies, and e-commerce websites, to deliver content and services to their customers.
Akamai Technologies
It’s been 20 years since this company engaged in this field and has a decent amount of experience. Forrester recognized Akamai as a leader in bot management. It is awarded other various awards in this field for its commitment to providing a reliable solution.
Akamai’s clients include 50% of Fortune 500 companies, major banks, news organizations, government agencies, and other widely recognized names. As of 2021, Akamai handled up to 30% of the entire internet traffic at peak.
Features Of Akamai:
Akamai’s CDN is highly customizable and can be tailored to meet the specific needs of different types of businesses and websites.
It includes advanced threat protection, web application firewall, and distributed denial of service (DDoS) protection to help keep websites safe from attacks.
automation solution that allows customers to manage their CDN services programmatically through APIs, providing more flexibility and control over the CDN services.
It provides analytics and monitoring tools that allow businesses to gain insights into the performance of their websites and the behaviour of their users.
It also provides cloud-based solutions such as Cloud Connect and Cloud Security Solutions.
Akamai’s CDN includes features that optimize the delivery of content to mobile devices, such as adaptive streaming and mobile-specific content delivery.
Pros:
Dedicated solution for video streaming
API automation
Advanced analytics
DDoS protection
Well-optimized for mobile phones
Cons:
Pricing is not disclosed
Complex to setup and use
Pricing:
Contact sales
CacheFly
Rating
4.5/5
Best For
Video Streaming
CacheFly is a Content Delivery Network that specializes in delivering high-bandwidth content, such as video and software downloads. It has a global network of over 50 points of presence (PoPs) in more than 30 countries and serves content at a rate of up to 10 Gbps per second, with less than 60 ms of latency. The advanced Control feature of CacheFly will help to take charge of how your content would get delivered. You can easily route traffic across different servers and maintain proper balance. This will reduce the latency significantly and improve the overall performance.
CacheFly
CacheFly’s differentiator is its use of proprietary software and hardware to optimize content delivery. The company claims to be the world’s first TCP-anycast-based CDN. It uses Anycast routing to ensure that content is delivered from the server that is closest to the end user, reducing the latency and improving the performance of the content delivery.
Features Of CacheFly:
Mobile content optimization option to optimize the content for better deliverability on mobile phones.
It provides a fully managed CDN so that you don’t need to take the headache of your CDN and pay attention to your business.
Storage optimization system ensures no-cache miss so that no of your user redirects to your origin server.
The VOD cache layer ensures fast delivery of content from the nearest edge server.
Pros:
Free for the first month
Multi-CDN
100% uptime
Smart image optimization
Single sign-on
Two-factor authentication
Cons:
Customer support via call is not available
Pricing:
Contact sales
Bunny CDN
Rating
4.7/5
Best For
Web Acceleration
Bunny CDN is a great option for users looking for a fast, reliable, and affordable CDN service. With its global network coverage, advanced features, and pay-as-you-go pricing model, Bunny CDN is a great choice for businesses of all sizes. Starting its operation in 2014, this CDN has more than 112 points of presence globally. It has served companies like Hyundai, Optinmonster, and Appsumo to boost their content delivery speed and increase overall user experience.
Bunny CDN
Bunny CDN has a global network of servers that are strategically located in key data centres around the world. This allows the company to provide fast and reliable content delivery services to users in multiple regions.
Features Of BunnyCDN:
Real-time monitoring of the performance of the website to manage it efficiently and deliver the content fast.
Super fast deliverability of images with features like image optimization.
Set your custom edge rules to meet your expectations.
Geo-blocking feature that blocks access from any specific location to ensure safety.
Insightful analytics to keep you updated with how much bandwidth is delivered and performance-related stats.
Pros:
14-day free trial
Pay-as-you-go pricing
DDoS protection
Token authentication
Intuitive Control Panel
Customizable Caching
Cons:
WAF is not available
Pricing:
Standard network: $0.01 – $0.045 per GB up to 100TB
Volume network: $0.002 – $0.005 per GB up to 1PB
Conclusion
The content delivery network is the need of today’s businesses to build a healthy online presence. Since long wait times can reduce your potential customer, it’s important to serve the content to customers at a lightning-fast speed. So to help you to boost your content delivery speed, we have provided a list of the best CDN. Just choose the one that suits your needs and enhances your site speed.
FAQ
Does Amazon have its own CDN?
Amazon CloudFront is a content delivery network (CDN) service built for high performance, security, and developer convenience.
Which is faster CDN or local?
CDNs deliver faster loading speeds for readers. It can store content in different formats, which can contribute to faster loading for different users.
Can CDN fail?
CDNs don’t fail very often but sometimes they can fail.
What is the difference between CDNs and caching?
CDNs are geographically distributed networks of proxy servers and their objective is to serve content to users more quickly. Caching is the process of storing information for a set period of time on a computer.
How many types of CDN are there?
The main types of servers are Push CDN and Pull CDN. Both have their distinct characteristics and depend on what your intentions are with the website as well as the kind of traffic you are able to pull in on a regular basis.
Indian academic Brahma Chellaney coined the term ‘Debt-trap diplomacy’ in 2017. A term used in international finance, it describes a creditor country or institution extending debt to a borrowing nation, to increase the lender’s political leverage.
The conditions of the loan are not made public knowledge and, often, benefit the lender. The borrowed money commonly pays for the contractors and materials that are sourced from the creditor country. The creditor country will then extract political or economic concessions when the debtor country is unable to fulfill its repayment obligations.
Unsurprisingly, the allegations of ‘debt-trap diplomacy’ are commonly associated with China.
China’s “debt-trap diplomacy” refers to the practice of providing large loans to developing countries, often for infrastructure projects, with the alleged intention of trapping those countries in a cycle of debt and dependency on China. The theory is that if a country is unable to repay the loans, China may use that as leverage to gain control over the country’s resources, land, or strategic assets. This has been alleged to be the case in several countries, such as Sri Lanka, Pakistan, and the Maldives. However, the Chinese government denies that it engages in “debt-trap diplomacy” and argues that its lending practices are transparent and beneficial to both parties.
Is China using debt-trap diplomacy to wield its influence around the world?
Allegations against China
China has been under a dark cloud of suspicion for almost a decade now. It’s the ambition to become a global power is not unknown on the international stage.
Brahma Chellaney coined the term ‘debt-trap diplomacy’ to describe China’s predatory lending practices. He alleged that China overwhelms poor countries with unsustainable loans and then forces them to cede strategic leverage to China. It is all a part of a geostrategic game on China’s part.
China’s Development Plan
In the year 2013, China launched one of the most ambitious projects ever conceived. It was the Belt and Road Initiative (BRI). President Xi Jinping launched the initiative as a vast collection of development and investment initiative. It would stretch from East Asia to Europe which would significantly expand China’s economic and political influence. Sometimes, referred to as the second Silk Route, it has been touted as a trojan horse to expand China’s military power.
The President’s vision for the BRI included creating a vast network of railways, energy pipelines, highways, and streamlined border crossings across two regions. One was through the mountainous former Soviet Republics and the other was southwards – to Pakistan, India, and the rest of South East Asia. According to him, such a network would “break the bottleneck in Asian connectivity”.
China also had plans to build 50 special economic zones in addition to the physical infrastructure. Continuing the benevolence, China will also invest in port development along the Indian Ocean from South East Asia all the way to East Africa and parts of Europe – all to accommodate the expanding Maritime trade traffic.
The staggering Chinese ambition and vision for BRI have seen almost 60 countries that have either signed on to projects or have expressed a keen interest in participating.
The Spider-Web of debts and How China Uses it
China has, under the guise of the trillion-dollar Belt and Road Initiative, provided large debts to nations wanting to create infrastructure projects. The catch is that China is eager to lend, without conducting creditworthiness due diligence. In fact, China has been blamed for specifically lending large loans to countries that are resource-rich or have geostrategic locations but low creditworthiness.
China is believed to keep the project negotiations a secret and charge non-competitive prices. Contracts are then awarded to the Chinese government or state-linked contractors that over-charge. All the while, allegations of bribing top leaders in return for infrastructure investments, continue.
1. Sri Lanka
The Sri Lankan Administration and China Merchant Port Holdings Company entered into a contract in July 2017. The contract specified a loan for 1.2 billion dollars in return for a long-term lease on the Hambantota Harbour and 15,000 acres of Sri Lankan territory.
The COVID-19 Pandemic hit the country’s economy hard and, to date, Sri Lanka is battling its worst economic downturn. It has defaulted on most of its foreign debt including China’s loan. China had, earlier, safeguarded its preferences by acquiring a large number of project assets. Hence, in view of Sri Lanka’s inability to pay off its debt, China has grabbed the assets.
2. Pakistan
Already a very weak economy, Pakistan has also borrowed heavily from China and awarded strategic projects to China’s BRI. In yet another setback, China has demanded repayment of approximately USD 55.6 million for the Lahore Orange Line Project. In addition to this, Pakistan owes approximately USD 1.3 billion to Chinese Power Producers.
China has been very stringent in recovering money from Pakistan. Pakistan faces a scenario, similar to Sri Lanka’s economic crisis and China is all set to take full strategic advantage in its bid to spread its power and influence.
Apart from these two countries, other Asian nations like Malaysia, Maldives, and Laos are all in debt to China. All these countries are either resource-rich or have geostrategic locations. They all form a part of the hidden political ambitions of China.
African Continent
Between 2000 and 2014, African countries increased their borrowing from China in a bid to end their dependence on IMF and World Bank. In 2016, African debt to China was to the tune of USD 30 million. The countries which owed the largest debt were Angola, Ethiopia, Zambia, the Republic of Congo, and Sudan.
The Outcome
In the years since BRI has been launched, China has offered loans to various countries, disguised as help. However, in each and every case it has gained tremendous leverage, either in terms of resources or political leverage. One report states that BRI participant countries owed approximately USD 385 billion to China in hidden debts.
Conclusion
China is neither new nor a novice at playing political games on the international stage. Its ambition to grow into a global power is well-known. The BRI initiative is one such addition to its ambition to steadily gain power.
However, the COVID-19 pandemic hit the Chinese hard. It led to a steep decline in China’s loan disbursement program. Coupled with growing skepticism and doubt over the seemingly benevolent Chinese government, many BRI projects are being scaled-down or scrapped by partner states. A lack of transparency in construction and financing, growing cases of corruption and malpractice, and a lack of financial viability have negatively affected the BRI’s image. It is also facing a growing challenge from a strategic security dialogue between India, Japan, Australia, and USA.
In any event, it looks unlikely that the BRI’s glory will return. However, the Chinese government is capable of launching a new initiative with the exact same hidden agenda. Countries and economies should remain vigilant of Communist Countries.
FAQs
What is China’s debt trap?
The term was coined by Indian academic Brahma Chellaney to describe how the Chinese government leverages the debt burden of smaller countries for geopolitical ends.
How many countries are under Chinese debt?
According to Forbes, 97 countries across the globe are under Chinese debt.
Is China in a debt crisis?
China is facing a full-blown debt crisis with $8 trillion at risk as Xi Jinping eyes an unprecedented 3rd term.
Does the US have a debt to China?
China owns roughly $1.08 trillion worth of U.S. debt.
How does China’s “debt-trap diplomacy” work?
The theory is that if a country is unable to repay the loans, China may use that as leverage to gain control over the country’s resources, land, or strategic assets.
Does the Chinese government deny the existence of “debt-trap diplomacy”?
Yes, the Chinese government denies that it engages in “debt-trap diplomacy” and argues that its lending practices are transparent and beneficial to both parties.
What are the consequences of falling into a “debt-trap” with China?
The consequences of falling into a “debt-trap” with China may include losing control over resources, land, or strategic assets, as well as becoming dependent on China for financial support.
Is there any way to avoid falling into a “debt-trap” with China?
Countries can take steps to avoid falling into a “debt-trap” with China by being cautious and transparent when taking loans, and by ensuring that the terms of the loans are fair and sustainable.
Building your own startup is a craze nowadays, people in the USA with innovative ideas are ready to take a risk and start their startup once. But there comes a stage in the journey of every startup when they need huge capital to sustain and boost their business growth, and this is where they start looking for ways to get those funds.
Business loans and Equity fundraising are the two main ways to accumulate funds to start or grow a business. Since both of them have their advantages and disadvantages, as a business owner, it depends on you which one you choose.
To choose the best option from these two, you need to be aware of their pros and cons. For some people, business loans come out to be the best option while for others Funding is the best option. So, here in this article, we mentioned the advantages and disadvantages of business loans and funding. This will give you a roadmap for choosing the best one.
A business loan is a kind of loan which you take from lenders to fulfil your working capital needs. The lender may be a bank, financial institution, or investor. They charge a fixed interest rate on the principal amount of money, after a certain period of time. Interest rates are not fixed and it varies from lender to lender. you might get a loan at a low-interest rate from any lender or sometimes you need to pay a high-interest rate depending on different factors.
Advantages of Business Loan
Flexibility for loan repayment
Paying off the existing loan amount will remove a huge burden from an entrepreneur. You’re more focused on your business growth and management when you are not in debt. Although you’ve taken a loan to fulfil the working capital need for your business, if your business performs very well and you are capable of paying the existing debt, then a business loan has the flexibility to repay the loan early.
Keep in mind that when you pay the loan early, many lenders charge a prepayment fee, which is around 1% of your loan amount. Also, you might miss the benefit of tax exemption on the interest you pay for your loan. So do your math and decide whether you should pay the loan early or not. If the total interest on the loan is higher than the prepayment fee, then you can pay the loan early and free yourself from debt.
Availability of Government scheme for loans
US Government always tries to promote businesses because they give a boost to the economy. The ways are different but the intention is the same, to promote the business. Providing loans to small and medium businesses is one of the ways the American government supports the newly born business.
In 1953, the Small business administration (SBA) was formed in USA to support small businesses in terms of capital and counselling. So you can leverage the benefit of this government scheme to easily get a loan from an SBA-accredited lender. The interest rate may vary from lender to lender based on your credit score and other factors.
Ownership remains intact
One of the most important benefits of taking a business loan is that your ownership remains intact, and there is no dilution of your equity. You have full control of your business and you’re free to take any business-related decisions without the interference of any investors.
You are the decision maker and you don’t have to share your profit with any third-party investor. So go for the business loan if you have faith in your business plan and at the same time you don’t have to dilute your ownership.
Disadvantages of Business Loan
You need to prove your creditworthiness
Everyone wants to earn some money and the same is true for lenders also. They are providing you with the money because they expect some interest in it. so to make sure that they are not giving their money to the wrong person, they see your creditworthiness.
A credit score is the one factor that every lender considers, but at the same time, they also see your assets and your past credit behaviour. Your business plan doesn’t put much influence on the lender because they don’t have to do much with your business, they only need their money back with interest. So you need to prove your creditworthiness to the lender to get a loan, otherwise, you might end up taking a loan at a higher interest rate.
Difficult to acquire a loan
Since you need to prove your creditworthiness to the lender and if your credit score and credit history are not good, then most probably your loan application will be rejected. It is not easy to get a loan at a cheaper interest rate without proper credit behaviour.
Lenders also check your assets, and if you lack in this also, then it’s very difficult to get a loan. You might arrange a loan from somewhere but the chances are the interest rate would be higher than expected.
Lenders have the first right to your assets
Finally! After so much hassle and paperwork, you get your loan money in your hand and you are now using this money to fund your business. But suppose, your business is not performing well and doesn’t meet your expectations. If you are not able to repay the loan in time, then you might be shocked but the lenders have the first right to your assets. They have the right to sell your assets and recover their loan. So these are the few disadvantages of taking a business loan you must be aware of.
What Is a Funding?
Funding is one of the most prominent ways to raise funds for your business in the USA. You have to approach an investor and showcase your business plan. You need to convince the investor that you and your business plan have the potential to convert this startup into a giant company. Once the investor is ready to invest in your business, then they will become a part owner of your startup by owning some equity shares.
Advantages of Funding
No burden of repayment
Equity fundraising comes with many advantages and the most prominent one is – you don’t need to repay the money you’ve raised. By giving equity shares to investors, you basically made them part owners of your company. Hence, if there is any loss in the business, it’s not only your loss but the loss of investors also. Similarly, if there is any profit, then that is not only your profit but also the profit of your investors. Since you don’t have the burden to repay the capital you’ve raised, then you become more focused on your business growth.
Guidance and help from the investor
As a new US-based startup, you might not have much experience with how this startup economy works, here the guidance and expertise of an investor will help you to accelerate your business growth. Since investors have some sort of experience in the field, their guidance and help will act as the cherry on the cake for your business.
You are the one who is responsible for your business, investors don’t only invest their money in your business potential but also in you and your faith in your business growth. They will help you with their valuable advice, but at the end of the day, it’s your business and you have to take care of it.
Increase in the valuation
Whenever you raise money from funding, the valuation of your startup increases simultaneously. The valuation of a company is the clear-cut indicator of business growth, revenue, and size. In different funding rounds, you and the investor agree on a certain valuation of your company based on how your business is performing.
If the business growth is extraordinary then you can ask for a large number of funds by diluting less equity. The higher valuation of your startup will help you in future fundraising and also provide benefits in acquisition and merger.
Disadvantages of Funding
Equity is diluted
In simple words, Equity means ownership, how much you have the right in a company. Whenever you raise money, the dilution of equity shares happens, which will decrease the percentage of ownership in the company. So you need to be conscious that you should not be the minority shareholder in your company, because this is your startup.
Let’s take an example, suppose there are a total of 100 shares in your company and 5 shareholders with 20% each. It means each of them has 20% ownership of the company. Suppose you want to raise money and offer 100 extra shares, and a single investor comes and buys all the shares.
Now understand the new shareholding pattern, the total outstanding share becomes 200. Since the new investor has 100 shares, so he becomes a 50% owner of the company while the other 5 shareholders become 10% each. As you can see, the ownership of the existing shareholders reduces from 20% to 10% because of share dilution.
You need to prove your business potential
To win the trust of the investor and convince them to invest in your business, you need to prove the potential of your business. For example, how your business is different from other businesses in the industry, what is your USP, what is your future plan, and a lot more.
Investors only invest in the businesses where they see growth in their investments. Now it’s your duty to convince the investor that you and your business have the capabilities to generate multi-bagger returns on their investment.
Decision conflicts
When there are more decision-makers in the company, there are chances of conflicts in the decision. Everyone has their point of view, some might agree with your point and some might not agree, hence more decision-makers turn out to be conflicted in their decision-making.
Lengthy and Complex process
The process of equity funding is complex and lengthy because a lot of paperwork goes hand in hand. Before pitching the investor you need to take care of the financial reports of your business that indicates your business performance.
You need to take care of the different compliance before and after funding. It’s better to hire a professional who takes care of all the paperwork and focuses on pitching the investor efficiently so that they become ready to invest in your startup.
Business Loan vs Funding: Which One Is Better for You?
Both options have their advantages and disadvantages as we have mentioned above. Which one is better for you depends on which type of convenience you want, like, if you don’t want any burden of a loan repayment then go for funding but if you don’t want to dilute your equity shares then go for a business loan.
Figure out which type of advantage you want and select the option based on that. Every coin has two sides, if there is a benefit in something then might be they have a certain downside.
Conclusion
The US government always tries to promote businesses with different schemes. Business loans and funding, both are great options. Because you are a startup and creating a foundation to build your empire, so you must choose the option very carefully. If you take care of all the above-mentioned facts into perspective, then most probably you will make a better decision.
FAQ
Is it a good idea to get a loan to start a business?
Loans help your business grow and a business loan will cover the upfront costs of expansion and allow you to make profitable growth.
How much can I get for a startup business loan?
Startup loans typically range from $9,000 to $20,000. Startup loan decisions are made differently from other forms of business financing.
What do I need for a startup business loan?
If you’re starting a business, you need money. So having a strong personal credit score and stable income will help you qualify for financing. A good credit score starts at around 690 to get a loan.
Ria Puneyani
