To promote startups in India, the government has launched the “Startup India” initiative, which has brought a golden opportunity for new entrepreneurs. If you also want to start your business and want to provide government recognition, then it is very important for you to register under Startup India. This process is not only easy, but also has many advantages associated with it that can take your business to new heights. Come, we tell you in seven easy stages how you can register under Startup India and what benefits you can get from it.
First of all, you have to understand that registration is an online process for Startup India. For this, you have to go to the official website of Startup India. There you have to create your account, which will require your basic information like name, email and phone number. This step is the beginning of your startup to be recognized on the digital platform. Once the account is created, you have to give details of your business. In which field your startup works in this, such as technology, healthcare or agriculture, it is necessary to tell.
The next step is to legally define your business. For this you have to ensure that your company is registered in India and it is present as a private limited company, partnership firm or Limited Liability Partnership (LLP). Next, you have to highlight the innovation of your startup. The aim of Startup India is to support such business that are making something new and unique. So, if your idea brings something different for society or market, then clearly tell it.
In the third phase you have to upload some important documents. This may include the company's incorporating certificate, business plan and your startup pitch deck. These documents reflect the credibility of your company and assure the government that your business is working seriously. After this, you have to tell that your company's annual turnover is less than Rs 100 crore and it is not more than seven years old. This condition is part of the rules of Startup India, designed to encourage small and new entrepreneurs.
The next stop of registration is to submit your details and wait for verification. Once your application is accepted, you will get a certificate from Startup India. This certificate gives your business an official identity and opens the way to take advantage of many government schemes. Now let's talk about those benefits that you can get from this registration. The biggest benefit is tax exemption. Companies registered under Startup India get income tax exemption for the first three years, which is a big relief for new business.
Apart from this, you can also get government funding and loan facilities. Through the Startup India, the government has created several funds which provide financial help to new entrepreneurs. Also, patent registration also provides benefits of discount and fast process, which helps in protecting innovative ideas. Not only this, there is also a chance to participate in government tenders, so that your business can connect with big projects.