Startup registration

A startup is a newly established business, usually small, started by 1 or a group of individuals. What differentiates it from other new businesses is that a startup offers a new product or service that is not being given elsewhere in the same way. The keyword is innovation. The business either develops a new product/ service or redevelops a current product/service into something better. 

Startups are becoming very popular in India. In order to develop Indian economy and attract talented entrepreneurs, the Government of India, under the leadership of PM Shri Narendra Modi, has started and promoted Startup India initiative to recognize and promote startups. 

If you wish to register a startup, India provides several options and benefits. The startup benefits are as follows:

1. The startup registration process is quite intuitive and simple.
2. Once a company acquire start-up registration, the fees of certain IPR registration like patent registration and trademark registration are less.
3. Government funds are readily available for company that have been registered as startup.
4. After a startup is registered for the first three years, they are exempted to pay any income taxes.
5. If you want to close a startup, the process is pretty simple as well.

These benefits are a sure way to get that initial push you need to grow your business. Therefore, moving your company through startup India registration is the best idea for your company. 

Additional credibility

If you were to list one or two of the chief benefits of incorporating your business, one of the top reasons would be the instant credibility for your businesses following incorporation. Adding “Pvt Ltd” after your business name can add instant authority. Consumers, vendors, and partners may prefer to do business with an incorporated company. 

Tax flexibility and incorporation tax benefits  

There are several tax advantages and benefits of incorporating a small business. Though profit and loss typically pass through the the taxation slabs defined by the government and get reported on the personal income tax returns of owners,  can also elect to be taxed as a corporation. Likewise, the owner can avoid double taxation of corporate profits by incorporating their business. 

Personal asset protection 

Allow owners to separate and protect their personal assets in the event of a lawsuit or claims leveled against a business entity. In a properly structured and managed company, owners should have limited liability for business debts and obligations. This remains one of the biggest benefits to incorporating. 

Protocol for Growth 

If you look above friends and family, for funds you will need to equity or loans for funding your business. Outsiders will make sure they invest there money in registered forms of business and not in any primitive form of entity. Hence, registering your business becomes a protocol for growth. 

Which Business structure is right for you?

We encourage the start-up industry to choose from 2 major forms of entities –

1) Limited Liability Partnership

2) Private Limited Company