Business Start Up Consulting service in India
SPD Consulting Pvt Ltd is all set and ready to offer the much-awaited business start-up consulting services to all the entrepreneurs. So, if you have a fresh idea, which needs to expand and make to this competitive world, calling us up for help might be your trump card. We are experts in helping start-ups find the right ground after understanding the needs of enterprises of modern world. For us, it is not just about advisory role. We will walk with you in executing the strategic approaches to ensure your business remains within the success lot.
Our primary objective is to transform the CEO’s growth vision into actionable, realistic and strategic plan, delivering positive results only. The main goal of our consulting firm is to help companies accelerate the revenue growth steeply and in a profitable manner.
With business environment changing on a constant basis, your company deserves leadership resources. Sustaining sales and marketing requires greater managerial attention. Join us and let us take the burden off your shoulder. We have a team of experienced professionals, paying attention to all the smaller details without letting you worry about it. Through us, get the vital opportunity to set up an “X Factor” for your business.
Ease of doing business in India:
If you ever get the chance to check out the World Bank 2020 report, it clearly states that India jumps to the 63rd position of “Ease of Doing Business.” The previous 2019 report states that India has improved its current ranking by matching 6 out of 10 parameters well, relating to starting a business and covering it proficiently in India. The previous report states that this country was holding the 77th position among 190 countries and now it has improved by 23 places! Now, that’s a clear prove for the new business minds.
The business environment has drastically improved in Mumbai and Delhi. In the past year, India placed four new business centric reforms and earned a place among top 10 improvers in the world for the 3rd consecutive year. Even though, there has been one substantial progress, India still lags enforcing contacts and even registering property. But, nothing to worry about as the country has already thought of some solutions, to improve their business scale even more.
Legal Challenges faced by a start up in India:
Just like any other country, India has its share of legal challenges as well. Understanding those issues from the core is the only way out to find impeccable solutions. After checking out the cumbersome nature of the Judicial System, it is always vital for the start-ups to avoid any run-in with the legalities. Let’s talk a bit more about those legal challenges that every possible start-up might have to face at least once.
Business Structure:
One thing that you must be associated with has to be the structure of business and its kind. Based on your though, you have to formulate the business structure. There are certain divisions to consider, like partnership, sole proprietorship, public or private company belt or even limited liability partnership.
For each of this structure, there you have some legality to follow. In case of Limited Liability Company, for example, the company must be registered with Ministry of Corporate Affairs first, under the act called Limited Liability Partnership Act 2008. On the other hand, for running a Private Limited firm, the company follows the regulations, designed for private companies particularly.
Before you get to finalize any business structure, it is vital to ensure that all positive agreements are followed, including Memorandum of Association, Articles of Association and Co-founders Agreement. The main reason is to keep legal complications at bay, in upcoming future.
Taxation:
It is vital to know everything that India’s tax laws have to offer, for the sake of avoiding punishments and penalties later on. The start-up companies always need to be clear of the tax liabilities towards state and central governments. There are various sectors attractive different tax laws. So, before running down a start-up firm, you have to be aware of the new norms, their targeted liabilities and how it might impact current business world.
According to the Startup India Scheme by the Indian Government, it is mandatory for these new businesses to cover up some conditions in order to get tax exemptions in long run.
Business License:
If you have made plans to run a business smoothly, you need a license for that. Certain industries need industrial specific license to function properly. Any startup engaging in the food related business, for example, might need to get license associated with FSSAI rules. The rules will talk about health, adulteration and food safety while consumption.
The businesses need to follow the rules as mentioned in the license. If they fail to do so, it might lead to some costly litigation. Not only that, but such a business dent can affect the prospects of any start-up venture easily.
Labor Laws:
Whenever a new or start-up company prefers to start their operation and plan to hire employees, that firm must follow India’s labor law first. The major challenge faced by these new business owners is to be sure of complying with applicable labor laws. Some laws are talking about minimum wage limit and then you have others, dealing with employee’s provident fund and gratuity payment scale.
Other labor laws will be focusing on maternity benefits and even preventing sexual harassment at work. After registering under “Startup India Initiative,” the companies can create self-declaration for 9 different labor laws. They need to do that within a timeframe of 1 year of their firm. That’s how they get exempted from labor inspection.
Listing Requirements:
Some start-ups might plan to list out their securities in stock exchange. There are certain Indian norms to follow for that. The company first has to comply with matching SEBI regulations, talking about conditions that very firm has to follow before listing out the securities. The regulations will further talk about the disclosures to make and the compliances to follow. Such norms get updated on a regular basis. Therefore, it is mandatory for the startups to get informed of all the possible latest developments taking place.
Protection of Intellectual property:
When start-ups get to advance, they will create IP or “intellectual property” down the line. Such property comprises of algorithms, research findings, designs and codes. So, it becomes a mandatory note for the start-ups to protect their Intellectual Property from getting it misused by entities or competitors. Proper protection will help the main owners to reap advantages later on.
For avoiding further issues, start-up founders might be aware of the basic tenets of such IP rights like patent filing, copyright protection and even that of trademark registration. They have to ensure that IP created during operation of startup will belong to company and not to any individual.
Solutions by your side:
Running through these legal issues while planning to start a new business in India, is not something new. People have already faced such challenges beforehand. We, at SPD Consulting Pvt Ltd would love to help you resolve these issues with ease. All it takes is a single call or emailing us your requirements, and let us guide you through the steps with ease.