Startup Paisa - Amazing Benefits Government Offers To Startups In India

1. Amazing Benefits Government  Offers To Startups In India    India is a nation where startups can emerge and reach every corner  across the globe. Many prominent names like Tata, Reliance, and  others started their journey from here and managed to spread their  business everywhere. In India, the government has helped millions  of startups to serve people and become part of the economy.  Although ​crowdfunding for startups in India​ is easily accessible  which prepares a suitable environment for these businesses, still,  the benefits the government offers to startups here cannot be  ignored. In this article, we will learn ​how startups in India get  benefits​ from the government. 

2. Benefits Government Offers To Startups In  India   1. Simple Online Registration  Earlier, it was not easy for startups to go through the entire  registration process. Entrepreneurs faced a series of difficulties at  that time. Now, the government has introduced an app for  registration, hence making the whole process online. Anyone  looking to start a business should fill a simple form and provide  necessary documents.  2. Lower Fees  For startups, trademarks and patents are readily accessible by the  government. Now, the patents are examined at low fees. Besides  this, all the facilitator fees are paid by the government, while the  startups bear only statutory fees. As a result, over 70 percent of the  fee burden is reduced for the startups.  3. Funds Are Easily Accessible  The Indian government has an enormous capital, about ten  thousand crore rupees for startups in the form of seed capital. In 

3. addition, financial institutions other than banks are encouraged to  help startups with necessary funds and other resources.   4. Temporary Exemption From Tax  Startups in India are exempted from taxes for three years while  getting ready for the market. The three-year exemption period is  termed as a tax holiday. However, they are required to receive an  IMB certificate to take advantage of the tax holiday.    5. Tenders Are Accessible  Government tenders are readily accessible to startups. Now, new  companies can apply for them without showing any current  turnover and prior experience in the relevant industry. This is a great  advantage of starting a business in India.   6. Research and Development  Research and development are crucial for any startup to expand its  business. Therefore, the government is working on several research 

4. parks that will offer all the necessary R&D facilities for all the  industries.    7. Compliances Are Simplified  Compliances were time-consuming for startups a few years ago.  However, the government has simplified them at present. Startups  can now save money and time. According to the government,  startups need to comply themselves by certifying through the  mobile app.    8. Benefits For Investors  Investors get tax benefits from the government while investing their  money on startups. They are free from any form of tax while gaining  capital. Such a facility allows startups to attract investors every  time they will need money.   9. Choose Investors   Startups are now free to choose any type of investor. Depending on  the financial situation, entrepreneurs can go for angel investors, 

5. startup incubation support, accelerators, banks, ​VC firms​, and other  organizations.   10. Easy Exit  If a startup wants to close its operation, it can apply for its closure  within a period of 3 months. This makes it easy for a new business  to make an exit in case it faces any loss or due to other reasons.    Success Of Startup India Scheme So Far  Startup India has played a crucial role in driving the enormous  economy of the country. It has given a significant push to the  innovative spirit in the market and industries. Many tech startups  emerged which offered jobs to millions of people. Today, more than  50 percent of young professionals are from the IT sector, directly or  indirectly. Bangalore is a city where every 3 out of 5 company is  working on web development or any other new technology. Almost,  all startups prospered there when the government supported them  with the necessary funds and resources. In addition, the  government worked on development schemes where nations like  Japan, Germany, France, and all SAARC countries could invest their  money in startups in India. Although countries are ready to put their  resources, a significant issue exists from the part of the  bureaucracy and politicians. Due to their pressure, some startups 

6. fail to get along into the market. Still, despite such obstacles, India  can be a great ​startup platform​ for most of the entrepreneurs.  Conclusion  Entrepreneurs can reap several benefits while starting their  business in India. In this article, we have seen how the government  is backing all startups in India with various programs, particularly  Startup India. Besides this, owners can go for any other ​startup  investment platform​. We also observed the IT industry has grown  massively, creating millions of jobs. However, India is not only for  all about the IT field. Other industries such as banking, finance, food  processing, ecommerce, healthcare, marketing, etc. are getting  traction on a large scale. So if you are looking to start a business,  then the government is always there to support you in India.      Reference Url​:- ​Startup Paisa