Problems Before Foreign Startups in India
Problems Before Foreign Startups in India
For a Startup, it is not possible to pool in resources equal to the deep-rooted corporate house. However, with proper knowledge and support from the right consultancy, the risk can be prevented or diminished.
- Business structure:
Based on the set of requirements, the structure of the business is articulated such as sole partnership, proprietorship, a public company, private limited company, or a limited liability partnership.
- Taxation:
Full acquiescence with tax laws is compulsory to avoid punishment and penalties. Startups must have inclusive knowledge about their tax liabilities towards the state and central governments. Startups should ensure that they are aware of the new taxes, their impact on the business model, and their liabilities.
- Business licenses:
To ensure your business run without any trouble, the required licenses have to be attained. Most licenses are industry-specific.
- Labour Laws:
The major challenge for startups is to safeguard that it is compliant with all the appropriate labour laws. These laws relate to minimum wages, provident funds, payment of gratuity, maternity benefits, and prevention of sexual harassment at the office, etc.
- Listing Requirements:
A company has to comply with relevant SEBI regulations to list its securities in a stock exchange. These are regularly updated, and hence it is important for a Startup to be well-versed in all the up-to-the-minute developments.
- Protection of Intellectual Property:
With the growth in Startup entrepreneurs, the company needs to create intellectual property (IP) simultaneously comprised of codes, research findings, algorithms, designs, etc. This is done to protect the IP from misusing by other entities or competitors and gain profit. Basic tenets of intellectual property rights should be considered such as copyright protection, trademark registration, patent filing, etc.
Solution to these Problems
The right solution to these problems is to have Indian Consultancy and Consultants to give consultation to your business entity. In the Article – Foreign Startup needs Indian Professional Associate this solution has been discussed at length.
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