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Last updated: 23 Jul, 2018  

Sulangana.9.Thmb.jpg High cost of credit biggest challenge for SMEs: GoPursu.com co-founder

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SME Times News Bureau | 23 Jul, 2018

In India, rate of interest at which small and medium enterprises have to borrow money from financial institutions is anything but business friendly, Sulagna Kapoor, co-founder, GoPursu.com, said in an exclusive interview with SME Times.

Excerpts of the interview...

Please tell our readers about the entrepreneurial idea behind GoPursu.com
Sulagna Kapoor: It started by not finding the right quality products online or offline and the struggle to wait for a vacation abroad to plan your purchases.

The main idea behind GoPursu.com is to address the need for a premium, reliable and affordable brand of ladies bags and accessories in the market. The fashion label is intended to represent the modern era women of India. We wanted to give the much needed thrust to the unexplored segment of the fashion industry and came up with the concept of GoPursu.

The name Gopursu is synonymous to what we want our client base to do; please go and pursue the global fashion accessories made available at your doorstep.

The accessories under the label GoPursu.com are exclusively designed and highly acclaimed for their superior quality, fascinating colors, trendy and latest designs. We have resolved to become the shining beacon of hope for fashionistas in India. The start-up was incepted with 4 members in 2018 has grown multifold and has now become the first choice for the modern Indian women.

You are a new entrant into the online arena. What is your competitive edge?

Sulagna Kapoor:
Yes, we are new entrants in the online e-commerce platform but we aren’t naïve to have a directed brand strategy. Our target clientele is the modern women looking for quality fashionable bags and accessories within considerable price range. Whether it is metros or tier 2 and tier 3 cities, the average disposable income has increased and the women are eagerly looking to try trendy designer bags and accessories. This era of experimenting is the right time for us to hit the market.

We have a complete range of high quality fashionable bags crafted in leather, silk and leatherette at affordable prices for women from all age groups. Our competitive edge is providing trendy bags and other accessories at par with niche global brands in the pocket friendly price range.

As a start-up, what are the challenges you have faced during these initial days?

Sulagna Kapoor:
The first challenge was to identify the product gaps in the market. Second was to come up with a well-researched product portfolio, which will match quality, style & design standards globally.

Every start-up has to face challenges like getting, brand establishment, sales conversions financial management and the customer relationship. Though, our hard work has paid us well and the continually growing clientele is the result of our successful venture we haven’t stop discovering ourselves.

Taking a personal account, designing and financial management were the main challenges during our initial days. As it is important to understand the demand and customer behavior before designing any product, we had to undergo extensive market survey to better understand the requirements and come up with the finest quality range of exclusive designer bags at such an affordable prices.

What are the biggest challenges do you think SMEs face in India?

Sulagna Kapoor:

  • The fuel for this journey is money. How much money and where can we get the money are the two questions that can make an entrepreneur have sleepless nights. Especially, when the going rate of interest of financial institutions are anything but business friendly.

  • The tax structure is not supportive either. There is no room for any kind of relaxation for a budding entrepreneur. On top of that the statutory compliances can make your life way too difficult.

  • The SME sector is facing continuous demand on productivity and efficiency gains from their large counterparts. These demands require investments in business on a regular basis. Reward for making such investment is not proportionate to the capital and efforts that are put in. This, in turn, is affecting investments by SMEs.

E-commerce in India is growing rapidly. What are you view on the prospects it offers?
Sulagna Kapoor: We have entered the digital age of modern era. The world is evolving at fast pace and internet technology has taken it altogether to a new level. The last decade has seen a lot of progress in the expansion of e-commerce industry. Online platform opens the world for you if the products are offered to the target clientele in an interactive way. Right from a start-up to an established enterprise, e-commerce serves as the largest potential pool of the customers.

What changes do you think the Centre should bring in to facilitate the e-commerce in India?

Sulagna Kapoor: Although the government has taken the step and ‘make in India’ model is active in the field yet there is a lot more to be worked upon. India is the country with the largest employment reservoir across the world, and this in itself is a herculean task to exploit the talent to its fullest.

The government should actively work on specific development models for different industry segments. Apart from that people also need to be aware of the growth prospects and plan their businesses accordingly.

What is your suggestion to small e-commerce retail platform to take on global and domestic biggies in the industry?

Sulagna Kapoor: The best part of being small is having the flexibility to navigate wherever you want as long as the road taken is well researched and well thought through. You never make millions day one and this is something you need to remind yourself every single time when you take a step towards something better. The biggies in the space are more likely to overlook the fine nuances needed for an outstanding product whereas for someone small it is the stepping-stone of success. The right product / service communicated in a right distinct manner can make you a winner.

Please tell us about future plans of GoPursu.com.

Sulagna Kapoor: GoPursu.com is going to introduce a completely new range of jewelry, wigs, stockings and cocktail dresses. We have already taken the fashionistas as followers with their wide variety of luxury handbags and will soon expand their collection portfolio. As of now GoPursu products will be online but will soon expand its reach and will be available with retailers across.

 
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Cost of funds
Ravindra Bhatnagar | Mon Jul 23 11:06:15 2018
Looking for best cost funds for SME and builders? Analytical Investments is the solution! Brief Intro: Analytical Investments We work with most bank/NBFCs in India to provide best and customized financial solution to SME and builders in India for last 15 years. We specialize in reducing rate of interest in loans taken by SMEs and Builders - sometimes with their existing banks.


 
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