The startup culture is full of individuals who attempt to, need to but are not ready to get their business up from scratch. The reason for this is, the number of entrepreneurs don't have the foggiest idea about the process of taking their venture from indicate A point B. The point An is this splendid though they have and B is the consequent, fantasized state where the venture is established, secure and productive.
The transition from A to B is extremely tough, full of uneasiness and extremely overpowering. The following are some tips which will help you in building your startup from the ground up.
1. At the point when should you start?
The idea of correct time troubles almost all entrepreneurs. They continue sitting tight for the special minute or a signal from Mother Nature which actually doesn't show up. The opportune time approaches the minute you get your trademark registered. It is one of the underlying steps you take. After you get your logo and brand trademarked, there is nobody who can misuse the name or the mark, which is the most vital thing to safeguard your company's assets.
You must execute a thorough trademark search which basically makes assures that the mark, name or logo you are wanting to apply for, has not been taken yet.
2. At the point when should you register your Company?
Registering a company ensures that while pursuing activities identified with the startup, you should go about as a specialist of the company. Obligations and liabilities should, along these lines, be in the company and must not influence your personal assets. As soon as the company starts to enter the agreements with different companies or individuals, you should apply for online Company Registration. Funding, ownership adjustments, payments and so forth are agreements.
3. What is the best structure for you on the basis of the number of owners?
For instance, in the event that you have eyes for owning the whole venture and you have a whole introductory investment made arrangements for the business, One Person Company or sole proprietorship structure should be endorsed.
Au contraire, in the event that you require individuals to get investments for the venture and the business should have at least two owners, it is advantageous on the off chance that you go for Private Limited Company, Limited Liability Partnership, Hindu Undivided Family or Partnership Firm.
4. Is it true that you will endure the obligation of the business?
Structures like HUF, partnership and sole proprietor firm have an unlimited risk i.e., on account of default in the loans or funds, the whole sum of cash will be recovered from you and the partners or members in the benefit-sharing proportion. This structure carries a high risk to personal assets.
5. What rate of Income Tax would you say you will pay?
The appropriate Income Tax to HUF and sole proprietorship is the ordinary rate. On account of a sole proprietorship, the individual's salary is clubbed with the business pay. Be that as it may, on account of entities like a partnership, the level duty rate of 30% is imposed.
6. It is safe to say that you are intending to get cash from the investors?
It is extremely tough to get investments from the Venture Capitalists if the company is not registered. Private Limited Company and Limited Liability Partnership are more counted on with regards to raising investments.
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