Top Reasons Why Startups Are Turning To Outsourcing CFO Services
New Delhi (India), March 23: India’s startup economy has grown rapidly, with businesses mushrooming across the country, as there has been a lot of progress in the Indian startup ecosystem in the past decade. With the rise of digital technologies and an increasing number of young entrepreneurs, the country is now home to the third-largest startup ecosystem in the world.
The Indian government launched Startup India to support and sustain its growth. Statistica suggests that in 2022, 19,000 startups were recognized by the Department of Promotion of Industry and Internal Trade (DPIIT). DPIIT had officially recognized 80,152 startups as of 2022.
India has 105 unicorn startups, and surprisingly only 23 of them are profitable. The rest of them are a resource sink drawing in billions in f...