Startups Guide: How can no-code software development empower small businesses against big brands?

90% of Indian startups fail within five years, according to a report by IBM Institute for Business Value and Oxford Economics. Meanwhile in May 2020, IT industry veteran and founder of Infosys Ltd, Senapathy (Kris) Gopalakrishnan, said that 25% of India’s startups have less than six months of runway. You might assume from these stats that the cards are heavily stacked against Indian startups; that, there’s not a lot they can do to compete against bigger brands with hefty budgets, ample resources and better access to new tech and innovations.

It may seem like Indian startups are doomed for failure. But that’s far too pessimistic for me. And the age-old excuse that lack of budget is to blame – is both simplistic and inaccurate. Now don’t get me wrong, running out of money is a very real challenge for startups. But it’s just a small piece of the puzzle.

Startup failure is an amalgamation of many factors. When combined, are too much for the startup to handle. For instance, inexperience in managing a business, or unwillingness to delegate can cause operational inefficiencies. This can impact the quality of service delivered to customers. Then there’s the all-too-common problem of poorly executed marketing campaigns, which harm customer acquisition, engagement and retention.

Let’s not forget the complex role of technology and digital adoption in the failure of startups. Not every founder needs to be the most technically astute person. But in small businesses, a lack of technical expertise, coupled with small budgets and minimal resources, can leave owners feeling overwhelmed at the prospect of developing software and apps. And now more than ever before, these are critical in acquiring new users, building engagement. It also helps in converting users into loyal customers and generating consistent revenue streams.

This is problematic for a few reasons.

First, it highlights a glaring misconception. Contrary to what many tech industry veterans are saying, I would urge small business owners and founders to not learn to code or expend time in trying to become tech experts. That won’t help your business grow, scale and compete against bigger brands.

On top of this is the presumption that software/app development requires a long lead time, a web development agency to manage the project from start to finish and large purse strings to pay for everything. Causing many small business owners to give up – without even trying to compete against the bigger brands. Or worse yet, they spend excessive money (already limited) hiring a development agency to build new software and apps. But because they spent almost all of their annual budget to hire the agency and had to wait upwards of 6-9 months to complete the project, they lost a good portion of their customers to competitors and eventually lost their business.

How can small businesses stay competitive and thrive?

They need to change their mindset. Stop believing that a smaller budget and lack of technical expertise are obstacles too great to overcome. They aren’t. Taking advantage of no-code/low-code software development will give startups the runway to acquire new customers. It will also increase customer engagement, generate more sales and build trust with customers.

Why is no-code/low-code development the weapon Indian startups need to push back against bigger brands?

For one, small businesses can actually own the software/app after it’s been developed. They can make sure to release it on the app stores. Second, no-code/low-code development cuts the time it takes to build and deploy apps from 9+ months down to one to two weeks. Unlike web development agencies, small businesses won’t have to pay upfront to build the specs for their project. Add the integration of back-end, customer support and ecommerce systems, the use of visual modelling and speed of innovation. Then it is clear just how powerful no-code/low-code development can be for small businesses.

The truth is, India has been a destination for low-cost, outsourced software and support services since the late 1980s. And no-code/low-code development is vital not only in rebuilding the Indian economy but also in giving bootstrapped startups the runway to compete against big brands and thrive for decades to come.