If an entrepreneur wants to start a business venture, he should make sure that he abstains from committing following mistakes which could sabotage any new business venture and turn it into a failure rather than a success.
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If you want to have full control over your business with limited liabilities, then OPC is the best choice to start with. But ensure that you convert your business structure (within six months) to the private limited company after crossing an average turnover of 2 crores over three consecutive years or has a paid-up capital of over 50 lakhs.
It’s the most renowned legal structure for business. The financial liability of the shareholders is limited to the their shares in case of any defaults, bankruptcy and/or any suits or recovery by banks/creditors. This simply means that personal assets of the sahreholders are kept seperate from the Company itself. Private limited company has more credibility as compared to other business structures available.
A public limited business structure is great for long run but has more regulatory requirements. Apart from all the advantages of private limited company, It has the ability to have any number of members, ease in transfer of shareholding and more transparency. A public company is a company that has sold all or a portion of itself to the public through an initial public offering (IPO).
Foreign business can begin a business in India in various ways like a delivery center, branch office. Indian Subsidiary shall be subject to the similar set of policy which applies to any other Indian company. Almost every sector is open for Foreign Investment in India, and the company incorporation can be done through an unusual route.
Startup India is launched in order to grow Indian economy and attract potential entrepreneurs. Startup India program helps the ease of doing business in India. More than 2,74,798 startups have been recognized as qualified for benefits under the scheme till now. Some of the main benefits of this program include Tax exemption for start-ups for any consecutive three years, reduced fees for trademark and patent registration, a 90-day business closure process and many more
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