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Business Items Software Application Ltd – The software industry is a billion-dollar industry with a projected market share of $650 billion in 2023. While the statistics are impressive, they include the contributions of many startups and established companies that are saturating the industry. To compete with these players, aspiring entrepreneurs need their own software product with a unique or superior offering. However, developing a software product from scratch requires significant investment in both capital and time.

Fortunately, there are some options available that allow entrepreneurs to start a software company with little or no investment. They make the business owner independent and able to start a business with limited access. In this article, we draw some insights on how these entrepreneurs can start a product-based company with minimal investment.

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In tech startups with limited resources, strategic planning and timely action are key factors in facilitating growth and success. So, before purchasing the software, you will need to create a basic overview of the things you will need. These include business name, website, hosting service, contact person, etc. Even after factoring in the costs of these prerequisites, you remain on a low investment due to the saved software development costs.

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Software helps people solve a problem or set of problems. Focus on the problem you want your software to solve. It can be either a business problem like project management and client management or a consumer problem like online food delivery, taxi booking or simple e-commerce. While white-label project management and CRM software can be difficult to find, there are many software vendor programs that provide software solutions for running e-commerce operations. Learn more about these reseller programs later in this article.

The estimated market share of the eCommerce industry by the end of 2023 is a whopping $4.48 trillion. It also has an impressive Compound Annual Growth Rate (CAGR) of 9.30% during the projection period 2023-2027.

This translates to a total market share of $6.39 trillion by 2027, growing by $1.91 over the next 4 years. These numbers are an implicit indication of the new entrants in the e-commerce industry who will require quality e-commerce software.

Let’s break this industry down into a few popular niches to shed more light on the overall market scenario:

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The e-commerce industry has unlimited business potential for software development businesses. You can also choose all or a few categories of e-commerce software to move your business forward.

Market research is essential to gain a comprehensive understanding of your target market, competition, potential customers and more. It will help develop a data-driven strategy for product development, marketing and sales. For thorough market research, you may consider the following:

By conducting proper market research, you can gather all the important information needed to build a solid foundation for your software company and act on it.

Since the business owner does not handle software development alone in a low-investment software company, he will need to find a technology partner. It is best to find a technology partner with a white label reseller program.

Notice Regarding Changes In Business Segments

A white label reseller program is a type of business partnership where a software developer finds partners to rebrand and sell their products. This type of partnership is mutually beneficial for both partners. Firstly, the product developer will increase their business reach and secondly, the reseller partner can sell the software under their own brand.

Because the partnership usually includes a non-disclosure agreement, reseller partners can sell the software directly to their clients without involving the development partner. However, in this arrangement, the development partner also provides full training and support, so you can independently deliver software samples to your clients and handle their queries.

To start business operations, you need to start marketing early. After carefully selecting your value proposition, you can begin your pre-launch marketing campaign. This may include creating a new website with landing pages for each software in the affiliate program. Once you get the rights to rebrand the software, you can also change the name of the software on your website. After taking these steps, digital marketing can further help you get your first few customers.

White label reseller programs are primarily intended for entrepreneurs with low investment budgets so that they can get the most out of their investment. First, they save money and time on software development, and second, they gain an advantage in market areas where it is difficult to produce competitive software. Joining the distributor program brings some benefits which are listed below:

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Some white label programs provide access to a wide variety of products that a reseller can sell. This increases the company’s product offering and is indirectly reflected in brand value. Later, the partner may choose to sell one or more products on their website, but access to all products in the partnership still remains.

Gaining years of hands-on software development experience is difficult for startups. However, with the white label program, they get quick access to the expertise of professional developers who have been in the business for decades. In addition, they can get ready-made proven solutions whose market viability has already been proven.

Modern businesses need to remain agile to update their offerings to catch up with changing market demands and scenarios. Engaging in a white label program can help procure and complete the kind of engagements necessary to represent agility in the software business. Not only will the business be able to meet changing market demands, but it can also expand rapidly by adapting to those demands faster than its competitors.

Imagine spending years developing a software application that doesn’t deliver the desired results or even return the capital cost. This situation is quite common in software development companies and results in huge losses due to high software development costs and long development cycles. As a solution, gaining access to proven third-party solutions proves to be a very safe investment that reduces business risk.

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Is a renowned e-commerce software developer in the market providing powerful e-commerce solutions for startups like online marketplaces, rental marketplaces, e-learning marketplaces, food delivery businesses, taxi bookings and more. All its solutions are feature-packed and carefully developed after delving into the complexities of their respective industries to help businesses solve numerous use cases and consumer problems.

All products are available in our white label reseller program where you can join and sell under your own brand name. Some of the privileges you get after joining the white label reseller program are:

With strategic planning and early action, it is possible to start a software product business with minimal investment. However, when it comes to effort, entrepreneurs need to spend time on marketing and find a technology partner that can provide them with the right guidance to start their business. When it comes to the type of software you should be selling, there are many categories you can think of, but based on the statistics above, the e-commerce industry seems to be the most lucrative.

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Abhishek Kataria is a business consultant at Technologies. It helps entrepreneurs and business owners develop viable digital touchpoints and marketplaces. Abhishek is curious to explore and analyze new business trends and has a keen eye for the latest developments in the eCommerce sector. In addition to consulting, you can find him practicing his French and exploring his creativity in Photoshop. Bangladesh has made great strides in the technology industry over the past 20 years, largely due to the exponential growth of its software companies. There are hundreds of companies in the software industry that are constantly coming up with new ideas, being creative and being the best they can be to serve the local and international markets.

Before you start outsourcing any software from Bangladeshi companies, you might be thinking about the best software companies in Bangladesh that have a clean track record of fulfilling your needs.

This article has reviewed the top 18 software companies in Bangladesh to find highly capable software companies for your business.

Here is a complete list of the top 18 software companies in Bangladesh and the key services they excel in providing.

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To help you find the right software partner, in the following sections of this article, we have dug deep into the list of the best software companies in Bangladesh along with a detailed overview of their services, offerings and history of working with buyers. You can get more information about them by going through them.

Enosis is well recognized as a leading software development and testing service provider from Bangladesh. They specialize in delivering stunning online, desktop and mobile applications using the expertise of their talented in-house software developers.

With a proven track record of success, Enosis has worked with many companies since its inception, delivering software solutions to organizations of all sizes around the world.

DataSoft is among

Computer Professionals Inc.

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