Monday, July 8, 2019

Laws in India that Every Entrepreneur Needs to Know


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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