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What Haunts An Entrepreneur?

2017-08-10 17:12:43 | Legal Services
Entrepreneur
Being an Entrepreneur is not at all easy. You have to be a leader but at the same time, you have to listen to many. You have to be strict but you cannot be dominant. You have to be a boss but not in front of your clients. You need to know everything about your company, from the working to the manufacturing to the finance and legalities. That is the primary reason why you are suggested to do what you love. Because, if you do something you don’t like your company will die under the pressure of so many things that are foreign to you. Even if you love what you do, still there are things you cannot hope to excel in. No one can excel in every field. if you like the workings you may not like the finances. There are so many parameters and so many responsibilities. All these draw just one conclusion. Being an Entrepreneur is very difficult. There are things which will scare you. But there are few things which scare or more like haunts almost every Entrepreneur.
Clients:
The first and foremost issue that scares every Entrepreneur is their clients. Even before starting a business, Entrepreneurs starts thinking about clients. Will they come? Will they buy my product? Will they like it? Will they criticize it? These questions are very common. No matter how big or small the business is, clients and customers are the ones to finally describe the position and status of the business. However, thoughts of not having clients should not scare you away. It should make you more hard working towards your business. Focus on your product and marketing strategies and you will get there sooner or later.
Self-consciousness:
The second biggest issue that haunts most of the Entrepreneurs is ‘are we good enough?’. This is again a very common query. One which no one but only your work can answer. It is your idea and the way you execute it. Everyone is talented. It is you who has to look for that talent and use it in the right way. If used in the right way, you are not just good but you are the best. Confidence is a must in this field. Though, the confidence should not convert in over-confidence. Being in a market itself is a huge risk. Anything can happen. You may fail. Most of the Entrepreneurs fail. But only the confident one rises again and again until and unless his company is a success.
Finance and Marketing:
Money and Capital are something that scares everyone. It is, in the financial world, most desired. Entrepreneurs can never be full of money. They are always in need of it. It maybe for further investments or for product research. But, raising capital is not easy. It is one of the most challenging issues. Raising high capital with low or no interest is a dream comes true. Marketing is even tougher than raising capitals. Getting attention from the crowd, attracting and engaging people is one of the most challenging tasks. Everyone have different choices and perceptions. Handling them all is, therefore, very difficult. Marketing in such a way that it brings no harm but only clients and investors are what every Entrepreneur wants.
Haters:
Entrepreneurs feel that they have achieved something when they receive praises and good comments for their work. However, one thing that doesn’t let them sleep in the night is criticism. If you are doing something, you can’t expect everyone to love you. Some people will always oppose you and your ideology. Some may have opposite perceptions and some may simply be the victims of jealousy. But that should not scare you. In contrast, it should be taken in a positive spirit. it tells you that you and your company are doing something, they are affecting the lives of people. Criticism in itself is very important. It should help you in improving yourself.
Failure:
Entrepreneurs often find themselves sleep deprived because they are scared of failing which is absolutely absurd. Failing is mandatory. Failure teaches you things that success never can. Failure makes you realize the importance of success. It lets you make mistakes and learn at your own pace. You fall many times when you learn to walk. Similarly, you will fail when you learn to succeed. Let it come and teach you. It may bring along dark and difficult times. However, at the end, it will leave you strong and knowledgeable.
The conclusion which can draw from above is that there are things which haunt every Entrepreneur. It may not necessarily be the above-mentioned ones. They are just the common issues. However, they should not be feared of. They should make you stronger and more determined towards the success of your company. When you want to achieve something big, many issues and hindrances will come in your way. They will try and bring you back. It solely depends on you, on how you can deal with these issues. If you ever feel that your issues are getting out of your hands, you can contact our team, at LegalRaasta. We will be more than happy to assist you.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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Is Pvt Limited Company A Right Choice For You?

2017-08-10 17:12:13 | Legal Services

A Right Choice For You
Selecting the correct form or way to initiate a business is a very important step for an Entrepreneur. This step defines the whole future of your business. So what should you select? Should your business be a private limited company or public company? Or should it be a Limited Liability Partnership or a traditional partnership? Should you go for a One Person company or should you go for a sole proprietorship? The best choice depends on you and your requirements. Each form has its own pros and cons. Before choosing anyone you need to know about all of them. You should be able to draw a comparison between all, then only will you be able to choose a good option. Talking about the private limited company, in India, these private limited companies are governed under Companies Act, 2013. Discussed below are all the points you need to consider before choosing Pvt limited company for your business.
Pvt limited company is very common in India and is considered as a separate legal entity. Before choosing the private limited company you need to make sure that you have everything that a Pvt limited company requires. Following are the requirements you will need while registering your company:
Minimum of two directors, two shareholders, and two members. However, an individual can act as a member, a director and a shareholder at the very same time.
Maximum of fifteen directors, two hundred shareholders, and two hundred members.
A properly drafted Memorandum of Association and Article of Association with other documents like DSC and DIN.
Private limited companies are to be registered with the MCA that is the Ministry of Corporate Affairs.
The reasons due to which Private limited company seems like the right choice are:
They are considered to be a separate legal entity.
They provide limited liability to its shareholders and members. This gives much-needed protection to everyone associated with the company.
They are very common and therefore more reliable. Their reliability attracts investors. Hence, raising funds are comparatively easy.
They have the highest credibility when compared to other forms of business.
Being the most popular form of business, their incorporation is quite easy, long but still comparatively easy.
Their existence is not affected by the health status of the owner.
The reasons which will make you think twice before choosing Pvt limited company for your business are:
A minimum share capital of rupees one lakh is required.
The shares cannot be offered to a third party before offering them to other shareholders.
A statutory audit is compulsory.
All these points should be considered before making the final choice. Also, other forms of business should be studied in detail before choosing.
After the choice has been made, you need to register your company. It is very important. Tax registrations are to be done also. The registration can be done online through company registration consultants like LegalRaasta with ease and safely.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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Investment Boom For Start-Ups

2017-08-10 16:58:55 | Legal Services
Investment boom
There is an ongoing investment boom in start-ups on a global scale. The trend has caught up in India as well, and Indians are taking advantage of the same by launching multiple entrepreneurial ventures. The government has realized the importance of this seemingly infectious entrepreneurial spirit and has been working actively to encourage it through various policies.
The most recent of these policies was unveiled on 1st February 2016 by the Reserve Bank of India in its 6th bi-monthly monetary policy statement. RBI Governor Raghuram Rajan has proposed steps to introduce a sense of relative simplicity in doing business for start-ups through easier access to foreign capital and by enabling smoother transfer of ownership. The central bank wants to simplify the investment process and will create an enabling framework for attracting foreign venture capital (VC). These steps have come in the wake of Pune-based Altizon Systems, an Internet of Things (IoT) platform, securing a $4 million Series A funding round led by Wipro Ventures.
Clearly, investors are not hesitating in investing in start-ups, and this lack of hesitancy has been brought about by a favorable investment climate. India is a country of a billion plus people and hence carries huge potential in terms of the consumer base. At over 350 million, India has the 3rd most Internet users in the world, after USA and China. Most of them are accessing the internet on mobile devices. This number is expected to grow even higher in the coming years as connectivity is spread by telecom operators. Numerous start-ups are being launched by Indians, who are aware of ground level situations and necessities and are therefore in a position to bridge the gap between missing markets and existing consumer demand. In this manner, start-ups present a wonderful opportunity for investors to fund, with hopes of reaping substantial returns as the ventures take off.
Investors and entrepreneurs alike are being encouraged by the government through the myriad policies that have been introduced for the same. The amendment of the Companies Act 2013 brought about a series of measures that hope to achieve an easing of the compliances and red tape associated with starting a business. The recent measures by the RBI yet again focus on easing the path of entrepreneurs seeking funds for their start-ups.
Start-ups that have seen early success and have valuations of $1 billion have been termed unicorns. Among the popular companies that qualify as unicorns are Uber, Flipkart, Snapchat, Xiaomi, Airbnb, Pinterest, Snapdeal, Zomato, Olacabs, Quikr and a list of several more. Investors often behave like a flock of sheep, where one goes, the rest follow. Given the unbelievable success of these start-ups, investors are now flocking to invest substantial sums in start-ups with potential that promises rewards later. It may be seen that this behavior is clearly prevalent in India – Wipro’s recent investment in the aforementioned Altizon Systems is proof of such a trend. We are currently witnessing a strong surge of VC investments in India. In 2015 alone, Indian start-ups have secured over $5 billion in investment from close to 500 investors. It has never been as easy for an Indian start-up to raise capital as it is now.
The investment boom is surely underway, but it will not remain so forever. There is already talk of this being a start-up bubble, that is very real, and may perhaps burst if enough number of start-ups go south. Time is of the essence, as any current analyst will tell you. In this sort of an investment climate, if you have an idea then do not sit back, and act on it as soon as you can.


This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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Why Start-Ups Are Good For You?

2017-08-10 16:50:28 | Legal Services
Start-ups
A start-up may be defined as a business typically technology oriented and has a high growth potential. It involves the development of a repeatable and scalable business model. A start-up can be differentiated from a small business as in the case of the latter, the plan is devised on the basis of an already existing strategy whereas the former, involves the process of innovation so as to disrupt the existing market with its novel product or service. A start-up essentially goes through various stages of failure so as to finally land upon a business model that will show growth in the future.
A start-up headed towards profitability must have a very strong co-founding team, risk/reward profile, and scalability, as that will ensure that more investors are attracted towards their business model and are more willing to make investments. Successful startups have a wider window of opportunities available to them than established businesses as they have a wider margin rapid profit growth in business. Start-ups can rely on several methods to generate funds, such as by opting for venture capitalists, angel investors, equity crowdfunding, etc.
India was not considered a very viable option for start-ups due to their very long, frustrating and unfriendly laws and compliance hindrances. Even exiting a market in case of failures was nearly impossible, and these factors weren’t very encouraging for entrepreneurs. As a result, a lot of entrepreneurs were taking their business outside the country, and India was losing its bright entrepreneurs to foreign markets. Observing this, the government of India has decided to come up with new policies to ease the process of starting a new model and also make available to them the option of exiting the market in case a model doesn’t work out.
In the recent ‘Make in India’ and ‘Start-up India’ campaigns, PM Narendra Modi along with Finance Minister Arun Jaitley announced their intention to introduce in the Budget Session of 2016 various measures which will encourage the entrepreneurs in their endeavours of bringing into the Indian markets novelty with their innovating products and services, making doing business for them way more simpler than it is currently. Some important measures that were discussed by the Central Government were: there will be self-certification based compliance for labour and employment laws, the government will hold no inspection for a period of three years, there will not be any tax levied on the profits earned for up to three years, there will be no capital gains if the money is invested in another start-up, the start-ups will e provided with an easy exit option under the Bankruptcy Act-thus making it easier for them to exit within 90 days, there will be a single point start-up hub for clearances, the government will provide a mobile app and portal for start-ups with a small form to be filled, there will be new IPR protection for start-ups and an 80% reduction in patent fee. The government also encouraged the idea of government purchases with the incentive of providing relief inexperience and turnover criteria and also announced a fund of funds with a corpus of Rs. 10,000 crores.
With such an exciting and growth-friendly atmosphere that will soon engulf the Indian markets, this is the best time to invest in start-ups. You need any help with the legal process involved in the setting up of a start-up, don’t look elsewhere. Consult LegalRaasta for a hassle-free establishment procedure.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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What All Legal Services Are Required While Registering A Company?

2017-08-10 16:50:28 | Legal Services
Legal Services
Company incorporation is an ideal dream of any Entrepreneur. It takes a big, original and creative idea to turn that dream into a reality, but is that enough? How will a mere idea create a company which includes infrastructure to the manufacturing of goods and distribution of services? Though a creative idea is a complete necessity, it is not enough. Companies Act define a particular procedure as to how you can incorporate your company legally. You may start a business or set up your own company but it is not recognized legally as long as it is not registered. There is a series of legal services you will require while filing forms, producing documents, consulting and taking advice, registering all the documents etc. Described below is what all legal services are required while registering a company.
First, you need to know all the legal procedures related to a company’s registration laid out according to the Companies Act, 2013 by MCA or Ministry of Corporate Affairs.
Then You may need legal services or consultation in below-mentioned procedures:
• Selecting the type of Business you want to form. There is the certain type of businesses or companies, they range from Sole Proprietorship to Partnership firm to Limited Liability Partnership to One Person Company to Private and Public companies. Conversion into a company from any of them based on your needs requires keeping in mind all the pros and cons can be a tedious job. To avoid any kind of mistake you may need some legal advice. It will provide you with a clear picture of how all type of companies work or what all advantages and disadvantages are included.
• Approval or Selection Of Name. When it comes to selecting a name there are certain things you need to keep in mind, other than the need of the name being unique and easy to remember there are certain legal procedures you need to keep in mind. Like adding Limited Liability Partnership at the end of the LLP’s name or Private Limited in the case of a private company also adding that the Private Limited Company was formed by conversion from a One Person Company. You may need legal assistance in searching a suitable name for your company and getting it approved.
• Drafting a Memorandum and Article of Association. Drafting a memorandum and article of association follows a particular pattern. It includes a certain type of information all related to your company. To avoid any kind of objections which may lead to rejection of your application and to create a MoA or AoA to suit your company’s specific needs, you may want to consider or seek legal advice. They can help you draft a memorandum in the proper format as prescribed and required.
Deciding whether the company should be:
(a) Unlimited
(b) Limited by Guarantee
(c) Limited by Shares
Deciding what type of company you want whether it is a:
(a) One Person Company
(b) Private Company
(c) Public Company
(d) Producer Company
• Applying for DSC (Digital Signature Certificate) for directors of the company. Applying for DIN (Director Identification Number) or TAN or PAN.
• Declaring Share Capital of the company in case of a company limited by shares.
• Filing of forms especially SPICe e-form INC-32 as required for Companies registration in India is very important and should be done very carefully. It includes an application for name approval, DIN, application for registration of your company and TAN and PAN application. Proper documents are to be attached. In order to avoid any confusion, legal advice is generally taken.
• Arranging or producing different documents including identification and address proofs and also includes the documents related to the registered office.
• Applying for all the tax registrations.
• You may need legal assistance while obtaining licenses. Like Shop Establishment License when setting up your registered office.
Other than all these factors, legal services may be needed for seeking advice in drafting a business plan or budget plan, raising funds, applying for different certifications (ISO, ISI, trademark registration, etc.), licences and registrations (like Central/State Service Tax, GST, Income Tax, Shops and Establishments licence, food business licence, liquor licence and other regulatory licences) and other working procedures.
It is very important to note that without seeking legal services you may face a lot of problems due to the unfamiliarity of the proceedings, it may take you a lot of time. We, at LegalRaasta, can help you register your company without creating much of a hassle. We provide all the legal services you may require not only while registering your company but in the whole working of your company. Register today and enjoy all the benefits.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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