Lack of Talent Main Barrier To Indian businesses' Progress In US

According to a recent survey by Alariss Global, a tech-enabled global expansion marketplace, over 75% of Indian entrepreneurs desire to grow their firms in the US market but are unable to do so due to a shortage of expertise.

According to the report, "several respondents also mentioned that they have attempted to join the US market in the past but have had their hands burned owing to a number of factors, such hiring the incorrect local person to drive sales for them, and have been forced to postpone their plans."

Talent, however, is not the only challenge that companies have. Other than finding qualified employees, the respondents indicated that managing international teams and expansion expenditures were the two main obstacles to growing in the US. "Indian entrepreneurs are highly motivated and equipped to introduce their goods to a market similar to the US. According to Joyce Zhang Gray, CEO and co-founder of Alariss Worldwide, "I believe the moment is perfect for Indian enterprises to seize the opportunity and create a global impact as barriers to entry diminish and access to global resources become more democratised."

Over 1,000 Indian entrepreneurs responded to the poll, and 42.9% of those secured Series A funding, with the remainder being seed- or bootstrap-funded. Numerous Indian SaaS, food-tech, hospitality, and mobility companies have gained recognition on a worldwide scale in recent years because to their low-cost, high-quality products.

In 2020, the Confederation of Indian Industries (CII) said that with investments totaling more than $22 billion, approximately 155 Indian companies had produced close to 125,000 jobs in the US. For tiny and early-stage businesses, expanding into a market like the US is still not a simple undertaking. 

"Companies that wish to grow in the US typically have to invest a lot of time and money in the process. In order to start up operations, the CEO or the executive team must frequently travel to the US. The paper also stated that the procedure wasn't always successful and could take up to 6 months.

A local partner who would oversee the sales vertical in the nation was sought for by over 95% of the firms wanting to expand up their operations, according to the survey. Nearly 24% of those surveyed indicated they preferred a partner who could also supply a local tax accountant, while 19% preferred a partner who could also supply a local attorney.