India is one of the fastest emerging
economies today with a potential market for startups and entrepreneurs. For
promoting entrepreneurship a number of initiatives are taken by the government
to ensure appropriate support for Upcoming Startups
in India. Along with government initiatives, the
penetration of IT and the internet has created a movement in the startup
ecosystem of India.
Nurturing a business includes many
things. Apart from operating legally in the country, a sound knowledge of all
the legal intricacies in starting and managing the startups can help a long way
to scale up the startups resulting in the overall growth of the Indian economy.
Formation Law:
Before starting any business it is vital to ensure the type of business i.e. whether
the company will be public or with limited liability. This attribute will not
only help to decide the company's visibility, sustainability, and profitability
but will also help structure the organization and help achieve its goals and vision. Therefore
it’s important to decide the type of business keeping in mind the existing
legal frameworks.
Tax and Accounting Law: Every type of business has a separate set of laws associated
with it which can vary according to the product, region, and business. Therefore
it’s important to keep a record of accounts, taxation information and an update
on Business News for improving the
financial and legal strength of any organization.
SEBI: Remaining updated with the regulations issued by SEBI
will assist in managing the various stages of nurturing the new business,
including fund-raising.
Corporate administration:
A running-knowledge about corporate governance will help a budding entrepreneur
to effectively manage and formulate further expansion plans.
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