To start a business, you need more than just an idea. What you need is a business structure – one that can act as the foundation on which you can build your enterprise. However, that foundation can do a lot better if it gets encouragement from the government of India. That’s what Startup Registration does.
It helps you establish your business that the governments considers worthy. In order words, when you register a startup – your business becomes worthy of the government’s attention.
But what is startup registration and why are we crazy about it? Read More: Society Registration
Let us find out.
What of Startup Registration in India?
When you are starting up a business, you need to give it all the attention that it needs. You have to tip toe around regulations, have to prevent any mistake and ensure that your business can get recognition in a market filled to the brim with big players. Such a business, at this stage is known as a Startup.
Simply put, a startup refers to a budding enterprise whose roots have just begun to grow.
In order to motivate such enterprises and ensure that those who are just starting have a chance to survive in the quagmire of so many business entities, the government of India introduced the concept of startup registration. Registering your budding business as a startup gives it the government’s recognition – a sort of protection from the current competition.
And that’s not the only benefit that comes with startup company registration in India.
Benefits of Startup Registration in India
Here are the startup registration benefits that has made entrepreneurs stop and look at its process:
- The process of registration is simple: Unlike business licenses, whose processes tend to be filled with legal complexities that you can’t make heads or tails of, registration of a startup entails a simple, online and a mobile-enabled procedure.
- Lowering the IP registration costs: Intellectual Property Registration is a hot commodity these days, and is important to startups because most of them rely on marketing their unique aspects and brand name. Keeping that in mind, the government has reduced the cost of IP registrations such as trademark and patent registration for all enterprises with the startup registration certificate. Read More: Trademark Assignment
- Access to government funding: The government has set aside a whopping 10,000 Crore rupees just startups. it is a figure that has grown manifolds due to the recent pandemic. It makes it easy for registered startups to get access to emergency funding
- Tender applications: There are many government contracts for which the government gives precedence to startups. If you have a registration certificate for your startup, you can apply to obtain those government tenders.
- Collaboration with other entrepreneurs: There are multiple startups riding the same boat, bearing the same aspirations and afraid of the same issues. You can collaborate with these budding businesses to help you and their business achieve further success.
Conclusion
When a startup gets recognition from the government, it becomes a registered budding enterprises. The government of India does everything within its power to help those startups – including providing them with ample perks. How you utilize these benefits to grow your business further is up to you.
But first, you need to get the startup registration certificate?
Contact our experts if you are ready to make the jump. Read More: Payment Gateway License Cost: Price of starting a gateway
Startup registration helps your budding enterprise gets recognized by the government of India. Find out its significance and its perks with this article.
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