For anyone who is considering applying for your own business, the Startup India program is a fantastic opportunity. This program has been done by the government of India, which helps new businesses to flourish and succeed. In this Bit blog, we will know about the process of how to register your startup in India and the benefits you can avail by joining this program We will also discuss how startup India registration consultants can assist you in smoothing this process.
What is Startup India Registration?
Startup India, launched in 2016, is a flagship initiative of the Government of India aimed at promoting innovation and aiding the growth of startups in India. Through this program, entrepreneurs will be able to avail funding, tax exemptions, and ease of doing business. But you need to get registered first under the Startup India, in order to avail all these benefits.
Why Should You Register Your Startup?
Here are some of the top reasons why you should register a startup company in India:
Tax Benefits: Registered startups can avail of tax exemptions of up to 3 years which saves money that you can reinvest in growing the business.
Easy Access to funds: The government has also created various funds and schemes for public sector and your startup will be registered then it is easier to access also.
Incentives and Government Schemes: The government has different schemes to encourage innovation like research and development, and guidance.
Credibility: A registered startup is more credible. It helps your company stands and attracts the attention of investors, clients, and employees.
What are the steps to Register Startup India Company?
Though, the online registration for Startup India can be done through the official portal of the government, a step wise process is very much essential in order to not face any hiccups. Here’s how you
1.Eligibility Criteria: Check if your business fulfills the eligibility criteria mentioned below before starting the registration process:
- Your business must be registered as Private Limited Company, Limited Liability Partnership (LLP) or Partnership firm.
- Your business should deal in the innovation or improvement of existing products or services or someone in solving a problem.
- The company must be less than 10 years old.
- Your annual turnover must be less than ₹100 crore.
2.Have Your Required Documents Ready: You will need to provide some key documents in the registration process, such as:
- Certificate — A certificate of incorporation or registration.
- An explanation of your novel product or service.
- A declaration from the applicant that they are not involve any business of sexual exploitation or anything against morality.
Online Registration for Startup India:
- Visit the official Startup India website: https://www.startupindia.gov.in/
- Sign up by providing your details.
- Fill out the application form and upload the required documents.
- Once the application is submitted, you will receive a recognition certificate from the Department for Promotion of Industry and Internal Trade (DPIIT).
Role of Startup India Registration Consultants
If you are a novice at entrepreneurship, it will be totally normal to feel daunted by the registration process. This is where the startup India registration consultants can help. These are experts who assist startups with registration as well as legal compliance.
Here’s how they can help:
Avoid Common Mistakes: They will help ensure you qualify for all eligibility requirements.
They prepare necessary documents and information so that everything is ready for a smooth application.
Speeding up the process: They help you do it faster by helping you handle all the different forms, documents, and requirements in a more efficient way.
Long-term Compliance Help: Consultants can help with advice in continuing to ensure your business meets government compliance standards.
Advantages of Registering Your Startup with Startup India
- Tax Exemptions: As already mentioned above, your startup is very much eligible for tax exemptions up to 3 years.
- Easy Access to Patents and IPR: A Registered Startup would undergo a faster and cheaper process under IPR application filing which would be necessary to protect your ideas.
- Networking Opportunities: This is the place through which you can gain access to an extensive network of like-minded entrepreneurs and mentors through the Startup India platform.
- Government Backed Funds: Such schemes in the government include Fund of Funds for Startups (FFS) under which startups get easy access to capital funds by venture capitalists.
- Tax Waiving: Your start-ups are to be exempted from taxes for up to three years, as mentioned above. Easy access to patents and the IPRs: A registered startup would undergo a faster and cheaper process under IPR application filing which is necessary to protect your ideas. Networking opportunities: This is the place through which you can gain access to an extensive network of like-minded entrepreneurs and mentors through the Start India platform. Governmentally backed funds-such schemes in the government include Fund of Funds for Startups (FFS) under which startups shall get their easy access to capital funds by venture capitalists.
Conclusion
Registration of your startup under the Startup India registration scheme is one of the most important steps in your entrepreneurial journey. The startup registration consultants would help you get through the process smoothly while ensuring compliance with all requirements. Whether you want to register a startup company in India or are in need of startup company registration in India, the benefits outweigh the costs by a long way.
So, if you are now ready to go for the next step and step into your business, feel free to reach out to the experts available for you to assist in your online registration for Startup India and get your business going in no time.
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