Registration mistake by startup india.
This is a young company that is usually founded with an objective to develop a unique product or service and introduce it to the market. Government of India has announced to plan the addresses all aspects of the Start-up ecosystem. the Government hopes to accelerate spreading of the Startup movement. many organizations fail in their first few years. This is why the first few months are so crucial. Entrepreneurs must raise funds, develop a company strategy and plan, employ key staff, iron out nitty-gritty issues like stock holdings for partners and investors, and prepare for the long term. Start-up Company should be registered as Private Limited company or LLP.
That are Digital technology of sector including agriculture, manufacturing, social sector, healthcare, education, etc.
- Choosing wrong legal structure
If you are planning to start your business, it is very important to know about the business formats, under which you can register. You can register your business as a private limited company or sole-proprietorship firm. Before deciding to registering of business you must be know about all the advantages and disadvantages of the company .
- Single founder
If the person think to carry the business on your own then its time to RETHINK.. you need people to bring expert knowledge capital and enterprise skills.
- Delay lunching
If you have a business plan and it is actionable get it registered under a suitable framework and secure legal protection for your business and co-owners. Sometimes some startup companies Delay or Neglect to get Shop Act Licenses, FssaI License, Health Trade License or Any other state License that is required to Conduct a Business.
- Ignorance of taxation
If the entrepreneurs are ignorant about the applicability of particular registration and end up paying heavy fines and penalties for non-compliance.
The government registration like
- Shop and Establishment licence
- GST registration
- Professional tax
- Employee provident Fund (EPF)
- Import and Expert code
- Poor fund requirement
Fund is the main structure before creating a business. Choose a structure that can accommodate capital infusion without many complexities.
You must be know about how much capital should invest in your company, what you want to create.