What No One Ever Tells You About Starting Your Business-Facilities and Procedures for Entrepreneurs

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Hundreds of thousands of people start their own businesses every year, and untold more dream about the possibility of becoming their own bosses. While entrepreneurship has its many potential rewards, it also carries unique challenges. To start a business of your own you need to understand the environment to set up an enterprise of you own. Starting a business involves planning, making key financial decisions and completing a series of legal activities. To run a successful business, you need to learn all about your existing and potential customers, your competitors and the economic conditions of your market place. In both developed and developing countries, the Government is turning to small and medium scale industries and entrepreneurs, as a means of economic development and a veritable means of solving problems. It is a seedbed of innovations, inventions and employment. The Government has announced series of steps to promote industrial development by way of rationalization of the policies to encourage the new entrepreneurs as well as existing units. Entrepreneurship helps in the development of nation. A successful entrepreneur not only creates employment for himself but for hundreds. Deciding on a right project can lead you to the road to success. Entrepreneurship helps in the development of nation. A successful entrepreneur not only creates employment for himself but for hundreds. Deciding on a right project can lead you to the road to success.

Startup India Stand up

A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding. Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage startups with jobs creation.

Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. This will drive sustainable economic growth and generate large scale employment opportunities. The Government, through this initiative aims to empower Startups to grow through innovation and design.

What is Startup India offering to the Entrepreneurs?

Stand up India backed up by Department of Financial Services (DFS) intents to bring up Women and SC/ST entrepreneurs. They have planned to support 2.5 lakh borrowers with Bank loans (with at least 2 borrowers in both the category per branch) which can be returned up to seven years.

PM announced that There will be no income tax on startups profits for three years

PM plans to reduce the involvement of state government in the startups so that entrepreneurs can enjoy freedom.

No tax would be charged on any startup up to three years from the day of its establishment once it has been approved by Incubator.

This major contents of the book are with small scale industry definition and incentives, significance of SSI sector, institutional network to assist the small scale industry, for example national level institutions, Small Industries Development Organisation (SIDCO), National Small Industries Corporation (NSIC), state level institutions, rural entrepreneurship growth and potentials, means of finance (share capital, reserves and surplus, retained earnings), district industries centre for rural enterprise development, etc.
This book is a unique guideline for those who are looking for starting a new business and wants to start some industry with the help of different concerned departments. It also covers the export guidelines. We are confident that this book will prove to be important guidelines for new entrepreneurs.