Parents are running out of money for admission – Book My Colleges



Supports demonetization despite its adverse effects on his start-up


Working as counselor, 29 year old entrepreneur ‘Gaurav Jain’ found his interest and turned into a start-up ‘Book My Colleges dot com’. He wanted to help and guide students, because he could get guidance, when he needed it.


Gaurav Said, “I have seen many ups and down, we were in a position where we did not have penny to spend.” He elaborated that starting a business requires funding, which he did not have, but with time and hard work, his start-up paid off.


Pros and Cons of Demonetization:


Though this move has been showing a direct impact on start-ups, in the form of slowdown in receivables, funding, transactions and expansion plan but has also stimulated digital and card payments, which will have very positive long term impact on their growth.


With evolving international education system and its application process India education ecosystem still lacks the digitalization and youth of India can certainly bring the revolutionary changes.


So, in long run digitalization will prove to be a boon for my business.


Demonetization Slowed Business:


As most of the parents prefer cash payment for the admission of their children, demonetization has adversely affected my business. Students want to take admission but the parents are running out of money. This is causing a big problem for us.


Countering Lack of Cash in Market


We are now trying to promote digital payment to overcome the effect of demonetization on our start-ups. Though this too difficult as we can’t take get any immediate recovery, I am hoping that market will recover in a year. I am not against demonetization but I have a problem with the way it has affected my business. We believe that demonetization is going to encourage people to try digital payments. This will make process easier and faster.


Our journey till now has been very successful.


Demonetization is definitely a promising move by government towards cashless economy in India. It will not only wipe out fake notes and black money but will also create awareness amongst the people about digital payments and will boost electronic payments. Though Indian will face many challenges in the initial phase but this will definitely bring a positive change in overall Indian Economy.

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