Through dedicated offshore outsourcing, a startup can get access to the outstanding IT talent pool in India. Unlike traditional outsourcing model, this method is more transparent, and gives better control to clients over entire process. Clients have the authority to hire or fire their employees, manage and schedule the work, and direct project development. Moreover, instead of spending heavily on building and managing their own infrastructure, a startup gets remote IT development center with all facilities it needs.

Availing dedicated IT outsourcing services will benefit startups in many ways. Some of those are listed below:

• Startups can focus on core business activities
• Build up strategies that can increase client satisfaction
• Improve the project development process
• Gain Flexibility to adapt to the changes in business process
• Form a firm base for continuing development
• Cut costs and avoid large capital expenditure
• Get quality workforce at affordable rates

These benefits are only the tip of an iceberg. Companies can explore for more benefits as this operational model is highly flexible and supports innovation in outsourcing processes. New generation outsourcing services are designed to cater to the IT requirements of small to medium companies. Therefore, dedicated our offshore outsourcing solution will act as a catalyst of growth in a company’s initial stage. Thus, a startup company can focus more on the business operation, produce more growth, and try hard to get an edge over competitors.

Nevertheless, up to now, the problem with offshoring is the shortage of good service providers offering exclusive Offshore Development Center (ODC) and support to Small and Medium Businesses (SMB) and startup firms. Even though, dedicated offshore centers can be a feasible choice for small enterprises to start and progress, most outsourcing services could not be easily accessible for them due to huge setup fees, maintenance cost and other complex red-tapisms that are hard to deal with. In addition, conventional outsourcing never gives adequate control to clients in hiring employees, team management and project development. The offshore vendor controls everything, and thus, there was a lack of sufficient transparency in operations.

But after the downturn faced by Outsourcing industry in 2012, companies are going through a complete makeover. The focus has been shifted from cost-reduction to nurturing quality and transparency in services. Companies are innovating new outsourcing models that will be more viable for the business development for the small to medium enterprises. The features of the new models are designed to overcome the drawbacks of traditional offshoring to make outsourcing suitable for clients at any financial level. So, now on, startups can start using offshore outsourcing for a quick but steady progress in their businesses.

Author: Gigi J Kizhakkechethipuzha – Follow him on Google+.

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Here are a few effective steps to raise fund to start a business:

1. Use your savings: You can take out fund from your personal savings to start up your own business. Using your own savings is considered to be the best way to finance a new business. If you run at a loss on your start up business, then you’re not required to bear the burden of debt.

2. Apply for credit cards: If you do not have enough savings, then you can use your credit cards to finance your business. However, in order to apply for a credit card on favorable terms you need to have good credit score. Therefore, check your credit score before applying for the card to get it on favorable term.

3. Borrow from your loved ones: After reviewing your report if you find your credit report is damaged then it is not a great option for you. In this situation, you can ask your close friends or relatives for financial assistance to start your own business. However, you need to know that you won’t spoil your relation with your loved ones if your business doesn’t work and fail to pay back.

4. Increase your current income: Make sure you increase your source of income in order to finance your start-up business. You can take up a second job during your spare time to finance your start up business. Therefore, work as a freelancer or work over time in your office as it can help you make some extra money. You can use the extra money to start your own business without taking out loan.

5. Apply for a business loan: Make sure you have good business plan before you apply for a business loan, . When you apply for a business loan from the bank, the officers may review your business plan before approving the loan application. Most of the banks require collateral against the loan, so find out whether you can use collateral to take the loan.

6. Lower your living expenses: Make sure you lower your business and save considerable amount for your business. Consider dining out in a posh restaurant once in two months or avoid splurging your money on entertainment. Therefore, you can manage to save considerable amount of money when you plan to finance your own start up business.

Therefore, you need to keep the above mentioned ways in mind when you plan to raise fund for your start up business.

Author: Boris Dzhingarov is passionate about writing on different business topics. Follow him on Google+

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