BUSINESS STARTUP CONSULTING SERVICES IN INDIA
The India market has gradually become an attractive market for foreign entrepreneurs. India is the fastest-growing economy in the world, ranking with the third-largest economy by purchasing power parity and the world’s sixth-largest economy by nominal GDP. Entering the Indian market is a complicated process owing to cultural and geographical differences. Roughly 543,000 new businesses are launched every month, however, many fail due to obstacles like fierce competition, financial management, lack of planning, financial crises, less knowledge on a particular subject, etc.
Despite the invasion of venture capital funds in the startup ecosystem, several companies struggle to continue in the prevailing competition and ultimately shut down operations within the 5 years of Startup. Henceforth, it is significant to comprehend the factors that are stopping the growth and sustainability of startups. In this competitive business world, you need to be flexible and think bigger to sustain in the rivalry market scenario with great planning, proper market/customer research, the right choice of business consultancy and top organizational skills. Click here to register a company in Singapore
EASE OF DOING BUSINESS IN INDIA
The rank of India raised to 77 in 2018 from 100 in 2017 among 190 countries participated in World Bank Ranking. Ease of Doing Business improved from 124.82 in 2008 until 2018, to 139 in 2010 and holding a record of high to 77 in 2018.
In recent years, the Indian startup environment has really taken off and emanated into attention on its own—motivated by factors like massive funding, evolving technology, consolidation activities, and a burgeoning domestic market. The statistics are depicting—from roughly 3000 startups in 2014 to a forecast of more than approx. 11000 by 2020, this is certainly not a passing trend. It has brought a revolution in the business and motivated young talent to start their own company by receiving great motivation from a successful startup entrepreneur. India is changing at the fastest rate and opening gate for a global entrepreneur to establish a business in India and grow at a faster pace. We at ASC help businesses with end-to-end advisory and consulting to prepare your business for entry into India.
LEGAL CHALLENGES FACED BY A STARTUP IN INDIA
Legal Challenges are one of the biggest challenges encountered by startup companies. The startup companies might lend up into trouble when the company fails to meet all the legal requirements.
For a startup, it is not possible to pool in resources equal to the deep-rooted corporate house. However, with proper knowledge and support from the right consultancy, the risk can be prevented or diminished.
- Business structure: First and foremost thing about business is to classify the top requirement of the business. Based on the set of requirements, the structure of the business is articulated such as sole partnership, proprietorship, a public company, private limited company, or a limited liability partnership. There are certain legal requirements that need to be followed for each business structure.
- Taxation: Full acquiescence with tax laws is compulsory to avoid punishment and penalties. Startups must have inclusive knowledge about their tax liabilities towards the state and central governments. Startups should ensure that they are aware of the new taxes, their impact on the business model, and their liabilities.
- Business licenses: To ensure your business run without any trouble, the required licenses have to be attained. Most licenses are based on industry-specific. For instance, a startup food business has to obtain licenses relating to food safety, health, and food adulteration. The conditions mentioned in the license have to be fulfilled to avoid further complication.
- Labor Laws: When a startup inaugurates operations and employs employees, it is subject to the countries labor laws. The major challenge for startups is to safeguard that it is compliant with all the appropriate labor laws. These laws relate to minimum wages, provident fund, payment of gratuity, maternity benefits, and prevention of sexual harassment at the office, etc.
- Listing Requirements: A company has to comply with relevant SEBI regulations to list its securities in a stock exchange. These are regularly updated, and hence it is important for a startup to be well-versed of all the up-to-the-minute developments.
- Protection of Intellectual Property: With the growth in startup entrepreneur, the company needs to create intellectual property (IP) simultaneously comprises of codes, research findings, algorithms, designs, etc. This is done to protect the IP from misusing by other entities or competitors and gain profit. Basic tenets of intellectual property rights should be considered such as copyright protection, trademark registration, patent filing, etc.
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ASC Makes Business Easy for you with extensive services for Startup Business
- Evaluation: Evaluating market attractiveness / market ecosystem / India entry options/Advisory on startup and any complex matter
- Help establish business into India effortlessly: Consultancy for Entry into India to start up a new business venture in India. We at ASC offer expert business start-up consulting services and help you with end-to-end advisory and consulting to prepare your business for entry into India.
- Business Licenses & Registration: Registration, Licenses, Statutory Approvals, Company Formation, LLP formation and other registrations required from different authorities to start a business. Other registration like IEC, Shop & Establishments Act, Labour Law, NBFC, Trademarks, Copyrights, and Patents, etc.
- Approvals: Approvals from RBI to set up liaison offices, branch offices and Project Offices in India.
Other broad services and advisory:
- Greenfield Investment and Brownfield Investment.
- ASC helps you choose the right strategy to enter into India
- Helps you to understand the compliances involved in each type of business
- Business Incubator
- Name Change
- Registered Office Change
- Add Directors/Remove Directors/ Add Partners.
- Increase Authorized Capital.
- Share Transfer
- MOA Amendment