MAM
Viacom Velocity: 68% millennials trust online pals more than news or govt
MUMBAI: Viacom Velocity, the in-house branded content agency within the Marketing & Partner Solutions group, has released findings from a study exploring how popular culture is shaped as lines between brands, celebrities, fans, and mass media have faded. The research is the basis of Velocity’s original documentary, “The Culture of Proximity,” which explores the impact when these groups which once existed distinctly and separately collapse into each other and behave similarly.
“The making of pop culture used to feel very far away, but with the shift from top-down distribution of messaging and content to a reality where many people can communicate together, influence culture, and deeply connect over shared interests there are remarkable implications for marketers and content creators,” said Viacom Velocity CMO Dario Spina.
“Exploring this inflection point through our research and ‘The Culture of Proximity’ documentary allows us to understand the impact and most effectively work within this new landscape. Our screenings and workshops with marketing partners translate these insights into actionable ideas.”
“The Culture of Proximity” features interviews with celebrities, thought leaders, and cultural influencers including Swizz Beatz; YesJulz; Chris Hardwick; Reddit co-founder Alexis Ohanian; MTV News’ Ira Madison; civil rights activist DeRay McKesson; Stanford University’s Dr. Brie Linkenhoker Ph.D; writer/illustrator Tim Urban; and Chief Strategy Officer of Publicis Rishad Tobaccowala.
“The Culture of Proximity” revealed four key themes:
1. The Conjoint Effect: Brands, celebrities, fans, and content creators have started acting like each other…brands are people, and people are brands.
50% of Millennials believe their life should be made into a movie
Nearly half feel like they know their favorite celebrity, and 1/3 of those say their favorite celebrity is like a friend or family member. Only 11% of Millennials DO NOT like when brands have online personalities, as if they were real people
2. New Centers of Gravity: The risks and rewards of shared influence…proximity puts people on the same playing field as the creators of mass culture.
61% of Millennials say they can influence popular culture
86% of Millennials believe that fans have some ownership of the things they’re fans of
3. The New Intimacy: People live with only one degree of separation from everything — the difference between “in real life” and virtual is blurry, and true intimacy is possible without physical proximity.
73% of Millennials have made friends with people online or through social media because of a shared passion.
More than half say they could fall in love with someone they only know online
When asked “Which of the following group or groups of people do you trust?”
68% said people online with a shared interest or cause
58% said people my age
56% said people in my community
29% said news media
21% said government
4. The Filtered Me: The idea of authenticity is being rewritten. The ways people create and broadcast their identities continues to shift, and they are often negotiating the difference between showing the best versions of themselves and the authentic lives they lead.
70% of Millennials choose activities that will give them items to post and almost 1/3 admit they post things that make their life look better than it is
1/3 say brands are as honest as people try to be
Millennials say it is ok to publicly share:
Mental illness: 70%
Coming out: 70%
Going to rehab: 55%
Having a miscarriage: 50%
Quantitative Study Methodology:
Qualitative and quantitative research was conducted between Fall 2016 and Winter 2017. Over 5,000 respondents representing multiple generations were surveyed. The statistics cited in the documentary and in this release represent the findings for a nationally representative sample of 2,000 Millennial respondents age 18-34.
Starting a business is one of the most financially demanding transitions a person can make. In the early months, expenses are immediate and often unpredictable, while revenue streams may take time to stabilise. For first-time entrepreneurs, securing small business loans can feel like a paradox: lenders expect a clean financial track-record before approving a loan, but the business cannot establish that track record without funding. Understanding the start-up lending environment in India and knowing the realistic funding options make this process far less daunting, allowing entrepreneurs to plan strategically.
Why Traditional Business Loans Are Harder for Start-ups
Most financial institutions require a minimum business vintage of 2 to 3 years before approving a term loan. This is because the first two years of operations carry the highest risk of failure. For start-ups less than 12 months old, traditional loan options are limited, and lenders often ask for substantial collateral to mitigate risk.
The vintage requirement is not arbitrary. Businesses that have survived their first two operating cycles demonstrate market viability, which significantly lowers the lender’s risk. Until this milestone is reached, entrepreneurs often rely on bootstrapping, personal savings, or alternative financing to build a stable business foundation. Understanding this reality helps first-time entrepreneurs set practical expectations when seeking funding.
Government-Linked Schemes for Startups
India offers several government-backed schemes to support first-time entrepreneurs. One such scheme is the Pradhan Mantri Mudra Yojana (PMMY), which provides collateral-free loans for micro and small enterprises in three categories:
● Shishu: up to Rs. 50,000
● Kishore: Rs. 50,000 to Rs. 5 lakh
● Tarun: Rs. 5 lakh to Rs. 10 lakh
These loans are available through eligible lending institutions, making them suitable for early-stage businesses. For first-time entrepreneurs, a Mudra loan not only provides initial working capital but also helps establish a credit history. Repaying a Mudra loan on time strengthens the entrepreneur’s profile and increases the chances of securing larger loans in the future.
Using Personal Loans to Fund Early-Stage Needs
When business loan eligibility is not yet established, a personal loan can serve as bridge funding. These loans are assessed on the individual’s credit profile and income rather than the business’s financial history, making them accessible to salaried individuals or those with a strong personal credit record.
Personal loans have limitations: the loan amount is capped based on personal income, and the interest rate is typically higher than secured business loans. Nevertheless, taking out a personal loan during the first 12 to 18 months can provide crucial support as the start-up builds its financial profile. It is especially useful for covering immediate expenses such as inventory, marketing, or office setup costs.
Alternative Financing Options for Startups
For start-ups that are not yet eligible for traditional business loans, other financing options are available through financial institutions. Many lenders offer startup-focused or small-business loans designed for early-stage businesses. These loans evaluate the entrepreneur’s personal credit profile, business plan, and projected revenue rather than relying solely on business vintage. Financial institutions such as Tata Capital provide these loans with minimal documentation and fast disbursal, enabling entrepreneurs to manage operational expenses, purchase equipment, or fund early growth initiatives without pledging collateral.
Some lenders also offer flexible loan amounts, quicker approvals, and streamlined processes, making them well-suited for first-time entrepreneurs. Exploring these options early allows start-ups to access working capital while gradually building a credit history that will support larger loans in the future.
Building the Right Financial Profile Before Applying
For entrepreneurs planning to apply for a business loan in 12 to 18 months, the preparation period is critical. Key steps include:
● Filing Income Tax Returns (ITRs) consistently and accurately from the first year
● Maintaining a clean current account with regular deposits and no overdraft patterns
● Keeping the promoter’s CIBIL score above 750
Lenders assess start-ups by examining these signals. Entrepreneurs who maintain financial discipline from the start will have stronger loan applications after two years. Additionally, tracking cash flow and avoiding irregular withdrawals can further enhance the business’s credibility.
Collateral-Based Options for Larger Requirements
Startups requiring larger amounts beyond government schemes can consider loans against property. These loans allow entrepreneurs to access larger amounts of funding at lower interest rates, as the property secures the lender’s risk.
This option carries significant risk: using personal or family assets as collateral can result in a loss if the business does not perform as expected. Such loans should be considered only when the business plan is validated, the entrepreneur has clear cash flow projections, and the repayment strategy is realistic. Careful assessment of risk versus reward is essential before pledging assets.
Practical Steps to Strengthen Your Loan Application
To maximise the chances of approval, entrepreneurs should:
● Maintain accurate financial statements, bank records, and GST returns.
● Avoid over-borrowing; apply for realistic amounts that match business needs.
● Keep personal and business credit profiles in good standing.
● Explore lenders that offer startup-friendly products.
● Be transparent and complete in all documentation.
Taking these steps early ensures a smoother and faster loan process when the business is ready for formal financing. A well-prepared application reduces processing delays and demonstrates professionalism to the lender.
Conclusion
First-time entrepreneurs often face a funding gap in the early stages, but it is usually smaller than it appears. Maintaining clean banking records, filing ITRs consistently, and exploring personal loans, government schemes, and alternative financing options help build a strong financial profile. Entrepreneurs who plan systematically from day one are better positioned to access formal credit sooner, giving their start-ups financial stability through small business loans.
The ideal time to start building a credit-worthy business profile is the very first month of operations, not when applying for a loan. By understanding available funding options and acting proactively, first-time entrepreneurs can confidently apply for a business loan and set their businesses on a path to long-term growth.
