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Great News for Start-Ups: Government Ends Angel Tax

Angel Investors have been a boon to our start-up industry. These investors have time and again sought out new talents and business ideas and guided them towards success. Our start-up industries’ root more or less stands on Angel investors. However, these investors had to suffer the tax that the government levied on them under Section 56 of the Income Tax Act. This stopped many investors to keep a clear mind on investing start-ups. The good news for the emerging new business ideas from the talent of this country is that this tax has now been scrapped.

The act was made to stop the inflow of black money in the Indian market and to regularize it. But it was backfiring as the investing sentiment has already gone dull and only those start-ups got funding which were coming from big credentials. Now, that the investment is tax-free, more and more investors could vouch for start-ups, giving them hope and faith to carry forward their idea.

Earlier, the Angel investors had to pay up to 30% in tax. This was already an unnecessary thing imposed by the government. According to Sanjay Mehta, an Angel investor, it was somewhat unfair as those venture capital funds who come under SEBI (Securities and Exchange Bureau of India) didn’t have any tax levied on them. Thus, those investors who were not registered under SEBI had to give heavy taxes to the government. The rule says that if an investor’s funding exceeds the fair market value of a start-up, then he is entitled to pay tax to the government. That was a hindrance to the opportunities start-ups could have.

This is a further development under our Prime Minister, Mr. Narender Modi’s campaign of Start-Up India. There are various innovations in this campaign to help the start-ups of India to create new business, jobs and to take the economy to new heights. StartUp India Consultants follows closely all the novelties of this movement and provide services to people who have in themselves to create an enterprise.

How to Start a Call Center?

BPO (Business Process Outsourcing) or a call center has great scope in India. If you are planning to start a call center, it is important for you to know that a call center has to be registered with NASSCOM.

While registration requires paperwork, there are certain steps which you need to follow to shape your business ideas.

Develop a Plan
Any startup needs a concise business plan. To keep an intention of starting a BPO is not enough. You need to determine what kind of call center you want to start. The answer to this question purely relies on the type of business contracts you want to approach. Some businesses might require inbound calling, others might require outbound calling or telemarketing. Your choice of contract would directly set the base for type of call center. To get a better understanding of type of call center, you can also seek advice from Indian startup consultants.

Plan your Budget
No matter what type of call center you plan to start, you will need equipments like computer, headsets, phones, office supplies, internet connection and telephones. It is wise to estimate the cost of infrastructure before handedly. A work from home call center can reduce the cost of a building.

Number of employees to be hired will depend on the scale of operations. If you are operating on a larger scale, you will need more number of employees and vice versa.

Network, network and network

Requirements and pay scales differ from company to company. It is important to make contacts with business houses that outsource their work and simultaneously publicize your call center. Increase in work will hike the revenue too. Small print ad or a Facebook page can help you make more contacts.

To make an informed choice and accelerated growth you can seek best advice from Start up India Consultants, a one stop solution for all the aspiring entrepreneurs. They formulate growth strategies and help you achieve desired results.

How to Save Your Startup from Being Lost In the Crowd?

With evolving technology, higher literacy rates, better funding and free market system, India today has the fastest growing startup ecosystem. These new business startups are exploring new segments of market, filling the gaps in the existing market and coming up with more innovative business ideas. The speed with which the world is witnessing growth and development, it really becomes important for these new startups to adopt rigorous growth strategies. Not all the startups survive in the burgeoning domestic market, to ensure that your business idea doesn’t get lost in the crowd, it is really important to create a sustainable growth strategy.

Growth strategy is not merely about envisioning the long-term success of your business but it’s about understanding your environment and practising strategies to ensure growth, improvement and sustenance. It’s really important to have a tangible plan and adopting tactics which would differentiate your startup from the crowd.

Ideal growth strategies for any startups are:

It really becomes important for an entrepreneur to know the value proposition of his/her product. To establish a value proposition, an entrepreneur needs to know what makes his product different from others. What sets his product standout in the market? Why should customer buy his product? What is the relevance of the product being offered? If you understand and establish the value proposition, you will protect your product from any devaluation.
Business involves buying/selling of a product. To sell any idea or product, you need to know who your audience is. Knowing your audience will give you right direction while formulating marketing strategies, which in turn will increase sales and ultimately higher profits. Various growth hacking strategies allows you not only to know your audience but also recognize the needs of your audience.
Recognize the key growth indicators of your business. Know the factors which contributed to growth and then spend your time and money on areas where you are logging.
Keep an eye on your competitors. Never underestimate the power of your competitor. Your competitor might be excelling in areas where you might be struggling. And knowing the strengths of your competition helps you in realizing your own weaknesses. It is important to know the alternate choices your rival made and knowing what difference it lead to his business.
Be innovative and be open to change. With the advancement of technology, an entrepreneur needs to be creative. To survive in this dynamic world, opposing change or using obsolete technology will only let your business down.
Recognize the talent of your employees and motivate them. Hire people with an understanding of the product you are offering.

Growth strategies are not a one-size fit for all process. It differs in different environments. So sticking to a static market strategy or developing a strategy based on someone else success parameter won’t be a wise decision. Plan, organize, direct, supervise and control to ensure your startup grows and expands.

How Technology Has Shaped the New Start-Up Generation

The era of start-ups is not new. Every other brand that is famous and is in market today was once a start-up. Today’s start-up generation has access to numerous resources and libraries which are required to run a successful business. Earlier, there was trial and error. The role of technology in the success of a start-up is understated. Technology plays an important role when it comes to human-machine interaction.

Providing solutions to a certain problem is the base of why someone starts working towards a goal. Therefore to reach maximum people in the minimum amount of time, technological help is required. For example, the idea of online shopping. No one knew 10 years ago, that a system will be developed where clothes can be ordered on finger tips. The online marketplace totally took over the traditional way of purchasing. People can now access a website through Internet and can pay money online with one click.

Another example would be GPS systems in mobile phones, cars and computers. It not only helps people to find an address but also to locate certain shops when in a new town. Companies like FoodPanda, TripAdvisor take the maximum benefit of technology to provide services to the customers. One can search nearby hospitals, food places, parks; facilities like check-in to a location and letting the technology do its work. Today’s emerging entrepreneurs should consider technology as one of their most important assets to come on top in this ultracompetitive world.

Start-ups focus on using the available resources in the best possible way in order to ease, the way the company serves the customer. The Playstore is a market where one can showcase their services and do business. It is as simple as logging into an account. Technology has come a long way to providing business the hyperactive options in order to make it large. For example, start-ups provide open-ID in order to avoid the efforts to maintain the records. Instead, outsourcing them is the ideal option. Therefore, one can easily say that someone has an idea and if it is implemented in the best way, technology supports it.

Start-Up India Consultancy is looking forward to providing help in every way possible for the people who have exciting new business ideas. Our firm consists of IT engineers who know the in and out of technology and how one can use it to their best of profits.

Simple yet Affective Ways to Grow Your New Business

The world is brimming up with innovative ideas to make things and provide service in the simplest of ways. There is a quote, “Necessity is the mother of all invention”, however, these days necessity has taken a form of comfort level. There are thousands of new business ideas today that not only offer new kind of services but also are revolutionizing the way old ones. One of the major factors why start-ups are necessary is because they are kind of a DIY (Do It Yourself) systems and the world needs it now more than anytime. Therefore, for a person who has an amazing business idea, she or he should know few basic tricks to grow their new business. These tricks are tested time and again and hence are of dire importance.

Always provide something for free – There is no doubt that people love things that they get for free. They love the companies who offer something free for the regular and new customers. Knowing that you are in the initial phase of your business idea, you can start to give your product for free to every new customer. This strategy is really well used by the mobile recharge start-ups which offer the first user a free recharge. But, they only provide a maximum of Rs.100 or 200 per new user and that’s it. You have to think a new way to overpower that strategy. For example, if you are planning to own an online clothing shop where you can showcase your designing skills, you should come up with an offer that gives free t-shirt to people. Not only that, you can even give your t-shirts to retail shops for free and tell them to ask if they can sell it or at least ask them the reviews of the customers.

Make People Look Special – Giving a feel of exclusivity to people will take your business to new heights. Find a simple way which can make your customer feel special with the product. Making them a part and giving them a homely feeling is one of the oldest tricks used by many of the offline businessmen. For example, Freecultr, an Indian clothing start-up is doing something like this. They are offering people to showcase their designs and upload them on their website and if people like those designs, then the company would use that design to make the t-shirt and will pay to the designer. Thus, if someone even have an idea of design, they would be able to become a part of something big. The emergence of such ideas is helping both the businessmen as well as the customers.

Use other start-ups – There are plenty of opportunities for you to use others’ business in good affect. Many new start-ups require various services for themselves. If you think you are any value to them, then it will be your advantage as you can then have an access to their customer base. For new entrepreneurs, this can work as an experience for them as interaction with the customers can be a learning process. Capitalizing on opportunities is necessary if one wants to create an enterprise. For example, these days every e-commerce start-up needs logistics service and if someone owns a transport unit he can make the most of it.

Difference Ways to Finance your Start-Up

In this information age, getting knowledge about things has become a necessity. If you are someone who has a new business ideas, then you really should be eager to gather resources on how to finance your business. We at Start-Up India Consultancy, are providing people with an opportunity to get trained by our experienced financial team who can guide you to any kind of financial issue. But first, we need to see what the difference ways of funding are. Following are the tips for a small business as we think that if you want to make an enterprise you should start from small.

Credit Cards – Using your credit card for a small business is an ideal start for your idea. According to surveys, out of every 5 small businesses, 4 are started using a credit card. The flexibility of credit would give you just the right amount of time to start your new business idea.

Personal Savings – For this, you need to plan your job in such a way that you make your personal savings enough for you to become an entrepreneur. Using personal savings can be a perfect thing as you won’t have to worry about returning money or the risk of getting fail with someone else’s money.

Family and Friends – Family and friends are the backbone of your personal life. You can easily ask money from them but that should be an interest-free loan. You should also tell your business plan frankly to them as they would be funding your company. Taking money from these people won’t put any external pressure on you and you can even ask for some time.

Reinvesting Profits – Many of you would have probably read self-help books about money. One thing that every business book tells is that build your assets. Indeed building your assets can provide you a stress-free future. You can invest money from assets in your new business idea. Monthly income from source other than your job can be of huge importance for the budding entrepreneurs.

Small or Personal Loans – Taking a personal loan from your current company might also be a good idea. Many companies give personal or small loans to their employees as a reasonable rate of interest. You should be active enough to utilize these opportunities. More so, the government also creates a new way so as to help people in their business ideas.

Apart from these basic ideas, the government of India have launched a campaign ‘Start-Up India’ to help new people spread their businesses. StartUp India Consultants are following on the footsteps of the government and aims to help people.