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Egyptian Startups are Disrupting the Traditional Economy(Content Princess)

Anyone who has travelled in Egypt is well aware of the problems that drivers face each time they get behind the wheel. One company is trying to alleviate some of the traffic congestion by inviting commuters and drivers to share the ride. The new mobile app is called Raye7 and is a carpooling app that is different in the respect that it focuses on the driver to invite the traveller to join them in the vehicle. This app won the second prize in a competition in Barcelona and is sure to beat the Cairo traffic.

Fashion Week in New York City is not a match to the newcomers in the fashion business in Egypt. Many new and upcoming designers are partnering with technology firms to provide top fashion in an online format. Of particular interest in the haute couture fashion arena is Nesma Helmy. This young designer creates evening and bridal gowns along with a ready to wear component and her clothing line is affordable. If the fashion industry is going to change, Nesma Helmy has a great start in doing this with her startup of haute couture at an affordable price. Since most shoppers are women, this start-up proves to be very promising.

Fashion and traffic apps are just two of the innovations that are appearing on the Egyptian tech and entrepreneurial scene which is being helped by the many innovation centres that are beginning to fill the lives of so many 30 to 40’s in Egypt. One of the promising incubator labs is at the American University in Cairo. They hosted a contest in January, and the winner was a technology company called, Ta2heal. This online service is needed as it uses technology to marry parents with autistic children or otherwise slow developing children to solutions for care. The service helps to suggest caregivers, specialists and many other helps for parents who are trying to navigate a terribly complicated space. A disruption in the current process is highly desirable, and as winners of the incubator award, Ta2heal has a good start on becoming a much sought after and highly successful venture.

If you are looking for love, the tech scene might be your first choice as Nahdet el Mahrousa offers the first incubator in the early stage of innovative social enterprises in the Middle East. One of the features of their service which is unique and exciting is that they offer to train social entrepreneurs with a focus on economic development. This service promises to activate and engage the young Egyptians to become social entrepreneurs and to design a workable social business plan. A complete formalised curriculum is available to guide the young users through this process, and measuring sticks are available to assess the success of the program.

This year proves to be huge in the area of disruption to the Egyptian and Middle East standard of life. There are many companies ready to lead this avant-garde movement, and the number will only keep growing. Advancements in services, technology and retail will be on the forefront very soon as they are starting to become available.

Corporate Accelerators – Just How Effective Are They? (Content Princess – SEO)

First of all, let’s start out with what a corporate accelerator is. A corporate accelerator is a specific type of seed accelerator that is typically sponsored by a profit-centred corporate organisation. In the same way that seed accelerators do, corporate accelerators support startup companies while they struggle through their early stages. They often offer mentorship, capital and office space, to assist the startup companies during their launch period.

However, in contrast to the more regularly acquired programs, corporate accelerators usually derive their objectives from the organisation that they are sponsoring. Objectives which can include the desire to establish a funnel for venture capital investing or the wish to remain close to some emerging trends.

So, in short, a corporate accelerator is a tool which is supplied by large corporations and is utilised by smaller, startup companies who wish to grow their company at a faster rate than would be otherwise possible. Through the discovery of new technologies which can help to bring newer initiatives to the market at a much quicker rate.

So How Effective Are Corporate Accelerators?

The answer is very if they are dealt the right cards and choose to play them wisely.

One of the major turn-offs for newly-founded companies when coming across corporate accelerators is the investment side of things. The last thing that a new company wants to do is spend money straight away. Their attention is more centred around building a clientele and creating a unique product with excellent selling points. They’re already spending enough money on these things, so the idea of spending more makes them uneasy.

Though providers of corporate accelerators are aware of this side and have their ways around it, they offer startups a deal that they can’t refuse. Putting across terms that provide a win-win situation for both the involved parties. They make sure that the new business is aware that a corporate accelerator will not only lead to more depth in the market but will also help them accomplish the things that they wish to accomplish faster – things like building a clientele and driving traffic to their site.

Some corporates even offer free versions of their accelerator program by ensuring that startups are aware that no equity is taken from them at any stage, which is sure to rid of the fear of spending money and investing too much.

As well as being largely customer friendly, corporate accelerators are an immensely effective way of getting a startup off the ground. Many corporate’s motives for starting up an accelerator program is more often than not to do with staying relevant. Thus meaning that if the colossal scale corporation that is providing your accelerator manages to stay relevant, then your startup will have an increased chance of becoming relevant too – simply because of the sheer scale of the provider of the accelerator program.

So, all in all, corporate accelerators are an exceptionally good means for startup companies to get their feet off the ground. They are in a lot of cases free through free programs (and if you consider the profits made from such a small investment) and are also a much less stressful way of expanding a business in those rough, early stages. Thus making corporate accelerators highly effective in today’s market.

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Who Does the Corporate Accelerator Benefit Most? (Content Princess – SEO)

For the past few years corporate accelerators have been viewed as a way to help young entrepreneurs get their start in the corporate world, and for many, this is just what they did. However, along with helping the young start-up, the corporations found that they would benefit from time, money, and effort that were expended on these young people. As expected, the corporations found that the accelerator brought forth a group of highly trained and disciplined work force that could add to the corporate ranks. Needless to say, corporations jumped on this idea and benefitted from the corporate accelerators.

An accelerator program often has a rental or lease component with it for the startup to enjoy space to perfect the company. However, when the leases were looked at realistically, these offered little to help the start up and much to help the corporation hosting the startup. For example, in New York, the average cost of low rent corporate space is about $12 per square foot. However under the guise of a corporate accelerator the contracted lease space rents to the start up for around $27 per square foot for a three to five-year lease.

The ability of the startup to receive and accept bids is often tied to the corporation also in that the bids must be reviewed by a governing body and of course cannot be a competitor of the corporate accelerator. Therefore this ensures that the corporate accelerator will have the first and foremost products of the startup and it will never reach the market for a competitor to benefit. If the startup is successful in obtaining a contract, the corporate host tends to benefit anywhere from 5{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of the revenue to well over 25{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}.

It is necessary for the startup to weigh the benefits versus the cost of a corporate accelerator program. Obviously, the corporation is in it to make money but there are some gains that can be made for the startup that might not be had on their own. One great advantage is the networking and exposure that the corporate accelerator offers to the startup. Being able to be a part of the mix and day to day activities surrounding a thriving business offers the entrepreneurs a chance to mix and hone business social skills while learning from the best in the business.

Another advantage is that the young entrepreneurs are often offered positions in the corporation. While this might mean leaving the startup the opportunity with the corporation might be substantial enough to warrant this move. Often the startup is not going to be successful, so the opportunity to receive gainful employment is attractive.

So to answer the question asked in the title as to who benefits in an accelerator, the conclusion is that both sides benefit. Each side must know what the obligations are and by going into an accelerator program with eyes wide open, each side is positioned to benefit from the arrangement.

Innovative Startups: Growth Is More than Money (Content Princess – SEO)

India has the distinguished honour of being in the top 5 countries in the world for innovative startups. There have been many recent startups in India that have mastered the art of expansion in every type of business from food to community. The booming growth and economic power add steam to this tidal wave of innovation. However, companies need more than money to appropriately and successfully scale up new businesses.

Steps to Success: Build a Brand

One of the most important aspects of growing a business is building a recognisable brand. Startups often begin with a fantastic idea that could change the landscape of business, but without a recognisable logo and value structure, the company is unlikely to drive forward into a larger entity.

Wow!Momo is a perfect example of branding. Their logo is instantly recognisable, even from a distance, immediately attracting attention and attracting customers. This may seem like a difficult task, but there are companies available that can assist you in building a strong, visible brand. Don’t be afraid to outsource!

Steps to Success: Market Targeting

If you have a great product or company, customers are sure to quickly and easily find out about you, right? Wrong! To properly scale up a business, you need to reach out and find more customers. To find new customers, you conduct market targeting. Market targeting will help find your consumer base and let them know your company exists. Successful targeting can bring in new clients by the thousands giving your business the foundation it needs to grow.

Batman Delivers an ideal example of a company with targeted marketing. Using a darker superhero image plays well to the late night video gaming crowd who would use their anytime delivery service. Do you know how to approach market targeting? If not, there are consulting companies (often the same ones that can help with the brand building) that can help you achieve good marketing.

Steps to Success: Finding Talent

One of the most challenging aspects of growing a business and scaling up production is finding and hiring the proper talent. With good people, your business could grow exponentially through the application of skills. The main trouble is finding those people. There are a great many options for finding talented people but if you don’t have the expertise or the time, consider using a specialised company to do it for you.

Steps to Success: Social Media

Nowadays, social media can be either a hindrance or help to scaling up your business. Social media can provide a broad audience and customer base, but if your company is poorly represented, the word can spread quickly.

The key to social media is a polished presence. PassItOn is an excellent example of a company that has a strong social media presence. They have great looking photos and videos and stay connected with their audience. There are many consultants available if you aren’t tech savvy but the most important part of social media is to make sure you’re engaged with people.

Steps to Success: Networking

While social media can lead you directly to the customer, networking can lead you to expansion opportunities. If you are creating a product, proper networking can lead you to stores that could carry your product. Likewise, a service provided well to one company is often recommended to other businesses.

This can be one of the hardest steps to complete when scaling up your business. What do you do if you don’t have industry contacts? Find a company that does! There are consultants out there whose sole purpose is to help network your product to larger companies. Another approach could be to use professional networking sites such as LinkedIn, but cold calls are often ignored when this method is taken.

Conclusion

When looking to scale up and grow your business in India, look beyond funding. Funding is a good start but to be truly successful you will need a strong foundation of support in talent, marketing, branding, and networking.

Keywords: Startups, innovative, brand, scale up, business, market, company, targeting, grow, India, success

Meet the start-ups Olympians Redefining Growth in 2016 (Rank Princess – SEO)

When a term or phrase gets over-used, the meaning falls flat over time. Like ‘epic’, for example. Or disruption, in the case of startups. Here are five startups who took a good idea and turned it into mind-numbing, unheard-of growth in 2016.

When the world is catching up to startup funeral parties, take a look at Deloitte’s list of startups which have posted inhuman growth figures. It should be no surprise to anyone that a significant part of the 500 is Chinese and Australian startups.

Chengdu Wolaila

Website: www.sposter.net

The number one spot was taken by the Chinese start-up Chengdu Wolaila. Via an internet portal called Sposter, this enterprise provides e-commerce and 24-hour express delivery services.

Using pin codes and special delivery boxes, this company has the distinction of completing a million deliveries a day. Chengdu Wolaila tops this year’s index with a staggering 25,239{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} growth, taking advantage of the Asian supergiant’s love for all things consumerist.

Puhui Finance

Website: www.puhuifinance.com

The job board of Puhui Finance is buzzing like anything. The last and the most important requirement for a customer service representative is ‘can work under stress’.

If the Chinese startup’s meteoric growth can be pinpointed to an effect, this would be it.

The butterfly effect of consumerist overkill in China is playing off here as well. Puhui Finance Information Service Co Ltd has recorded growth figures of 14,047{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}, providing easy lending to the masses through an app itself.

Seeing Alibaba, the success of these two should not be a surprise. E-commerce, logistics and consumer finance, the holy troika appears!

Byte Dance Ltd (Toutiao)

Website: www.toutiao.com

With a 30-something CEO Zhang Yiming, Byte Dance has redefined startup success in the heavily-controlled media arena of China. Toutiao or Today’s Headlines is the almost-addictive app which aggregates news by using Artificial Intelligence to curate content.

The latest reports put Toutiao’s user base at a mind-boggling 700 million, and an explosive 68 million regulars to heavily active users. These numbers have propelled Byte Dance to claim a growth figure of 13,085{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}, as put by Deloitte’s Technology Fast 500 Asia Pacific 2016 list.

Bringing up the last of the top five list of Olympian growth figures are two Australian startups, Cash Rewards and Property Exchange Australia Ltd.

Cashrewards

Website: www.cashrewards.com.au

Move over, loyalty points. Instant gratification has made you obsolete. Andrew Clarke had the brainwave of ditching loyalty points for straight-up cash rewards for shopping and named it exactly so.

Within a few years, this Australian startup has garnered over 100,000 subscribers providing AUD 150 million in consumer splurges. The modus operandi is simple: Log into Cash Rewards and start shopping frequently from thereon. Finish shopping, get cash-backs in a few days. Elementary!

And the growth shown by the startup – 12,469{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}. Chew on that.

Property Exchange Australia Ltd

Website: www.pexa.com.au

Property Exchange Australia Ltd, or Pexa as it’s known, is the quintessential example of technology turning an age-old process into a hassle-free, transparent process. Quite simply, Pexa has taken conveyancing, or the act of transferring land titles from a pen-and-paper based, time-consuming exercise to a paperless transaction. Now, this does not sound much, but considering the banks, governments, property lawyers and land registries – this is nothing less than heaven sent for the parties on all sides. Pexa, under CEO Marcus Price, has grown by 7,116{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} by providing a platform for the above. And that’s a good thing for a startup as any, isn’t it?

There has been news all this while about startup success and burn-outs. But as an edict in perseverance, innovation and technology, these top five start-ups are a welcome sign. All is not bad. Some fall, but some do fly. And when startup success is talked about, it will not only be about Google, Uber and AirBnB. There’s a lot more to the startup success story than meets the eye, and here’s the proof.

Now, be a good netizen and share!

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In Story:

Australian startups
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Meet the start-ups Olympians Redefining Growth in 2016 (Rank Princess – SEO)

Chengdu Wolaila

Website: www.sposter.net

The number one spot was taken by the Chinese start-up Chengdu Wolaila. Via an internet portal called Sposter, this enterprise provides e-commerce and 24-hour express delivery services.

Puhui Finance

Website: www.puhuifinance.com

The job board of Puhui Finance is buzzing like anything. The last and the most important requirement for a customer service representative is ‘can work under stress’.

If the Chinese startup’s meteoric growth can be pinpointed to an effect, this would be it.

Seeing Alibaba, the success of these two should not be a surprise. E-commerce, logistics and consumer finance, the holy troika appears!

Byte Dance Ltd (Toutiao)

Website: www.toutiao.com

Bringing up the last of the top five list of Olympian growth figures are two Australian startups, Cash Rewards and Property Exchange Australia Ltd.

Cashrewards

Website: www.cashrewards.com.au

Move over, loyalty points. Instant gratification has made you obsolete. Andrew Clarke had the brainwave of ditching loyalty points for straight-up cash rewards for shopping and named it exactly so.

And the growth shown by the startup – 12,469{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}. Chew on that.

Property Exchange Australia Ltd

Website: www.pexa.com.au

Now, be a good netizen and share!

LSI Keywords Used:
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Startup success story

In Story:

Australian startups
Toutiao
Chinese startup

A Fresh Life To The Financial Sector When Brokering Is Not Enough (Rank Princess – SEO)

The story of ZUU the newest online financial media

On 2nd April 2013, a big leap was attempted by the top salesperson from Nomura Securities. Kazumasa Tomita was not satisfied with the lack of innovative challenges that exists in the traditional finance industry. He took a brave step and started a multinational financial media platform with almost all processes set up online that touches upon educational sector where they also offer training in various aspects of finance.

ZUU Business Outline

‘ZUU’ is derived from ‘Zoo’ where the company’s motto is to bring everyone and all aspects of finance together under one roof. Their basic portfolio is as below

Website development that offers comparisons and matches, financial advisors, accordingly.
ZUU advisors provide information and service to financial clients.
Maintain websites for their premium financial clients.
Consulting and training service for the financial advisory industry.

Vision

ZUU’s growing passion and vision is towards developing a uniform platform for equal access and opportunities for all towards learning the financial sector. They are working towards equipping their users with all the necessary skills to compete in the ever-changing and challenging financial environment globally. With current offices in Tokyo and Singapore, the support-owned media company in the finance and real estate business is all set to emerge as the top risk management consulting firm by securing a market value of $830 billion (about ¥100 trillion) by the year 2038.

What Do You Get When You Collaborate With ZUU

What started as an online media startup, ZUU has now grown into one of Japan’s fastest growing finance-related media websites that offer a variety of services including finance-focused news and columns. All categories of equity, securities, insurance, taxes, and real estate are touched upon. With his finance background, Kazumasa is now focusing on the extensive use of social media in financial services and networking into the banking sector to tap into FinTech services in the next segment.

Their website boasts about 2.5 million monthly subscribers and about 10 million page views every month. ZUU is unique since each article is written by the experts in the industry, original work reviewed by their passionate staff of 50.

Why ZUU Works

Kazumasa explains that the freedom that they offer to their expert writers is the key to their growth. Since the company thrives on the originality of their work, they let their professionals choose when and what they write about without deadlines. ZUU introduces new Japanese business culture training to constantly motivate and encourage good work ethic to sustain their resources and maximise productivity, and their staff concur that it is one of the best management consulting firms to work for.

ZUU won the 2015 Intelligence Award at a startup showcase event that is hosted by CyberAgent Ventures RisingExpo in August. The same year, they launched their online asset-management tool ‘ZUU Signals’, that primarily advise users what stock to buy or sell in an easy representation inspired by three colours in traffic lights.

The company now has a mass reach thanks to its media partners in Japan. Yahoo Japan which is the biggest news portal for Japan uses ZUU. Other news and media giants include Google News, Rakuten Infoseek, Excite, and Huffington Post Japan. One can also view their content on popular Japanese news mobile applications SmartNews, Gunosy, and NewsPicks.

Financial Planning Tools – Next Step

Kazumasa Tomita is a true visionary. He is developing ZUU as an online media website to solve problems for its subscribers. He explains that they have loyal users purely because of their content-based resources that are original and descriptive and written by experts. However, ZUU is focused on more customisation for their users to compare and match for that all-around experience.

Unlike other startups, ZUU may not have too much trouble acquiring human resources and expertise in the sector for their business to grow. With his refreshing take on finance consulting, it will be interesting to know what he can bring in the years to come.

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Chengdu Wolaila: “How Disruptive Approach Creates Opportunities” (Rank Princess – SEO)

The still emerging- but quite a rapid one at that- economy of China is an ocean of opportunities and presents an immense market to various start-ups to grow: with the highly economic prospects which allow the rising companies to generate higher growth rate.

One such company that has shown rapid emergence into the Chinese market is Chengdu Wolaila. This software company provides e-commerce services and a 24-hour express delivery service through its internet portal known as Sposter. It also develops and markets the applications for Android users and iPhone users.

What Is The Sort Of Work They Exhibit Under Their Services?

It has surfaced as the largest smart delivery box operator in the world. For its drop off services, it makes use of the network which is operated on the basis of the pin code of the area. The extent of its reach in the Chinese market can be estimated by the fact that it has 30 million subscribers throughout the communities of China and it serves the deliveries estimated at an average of 1 million per day.

It also keeps track of the consumption habits of its customers by collecting data from the day to day communications with them. Based on this analysis, it recommends value-added services, which serve the everyday needs of the customers that can include everything from food to clothing to pensions and medical treatments.

Where Has A Simple Start-up Led To?

This company bagged the first position in Deloitte Asia Pacific Tech Fast 500 where an evaluation is carried out of the various companies in the Asia Pacific region based on their average revenue growth.

With its 25239 percent of exceptional growth, it provided a demonstration of how the new technology, with its innovative mechanisms, is shaping everyday life of the people by transforming various business models for the simplification of the lives of the customer. As quoted by the head of the company, “Chengdu Wolaila shows how a disruptive force can create opportunities.”

Chengdu Wolaila aims at improving the experience of its customers by providing a quick and reliable nature of service. Seizing the opportunities driven by the demands of the customers, they have harnessed the technological opportunities at hand in China.

In the end, it all comes to providing a marked experience to its customers with its sizeable team and operational staff. They lay strong emphasis on innovating their services to enhance customer satisfaction, and so that they can act quickly in any case of technical problems reported by customers.

How It Keeps Growing

Keeping in line with its idea of growth and innovation, Chengdu Wolaila has now started an offline advertising business. The success of this endeavour is marked by the fact that it generated two-thirds of their revenue in the previous year.

Alongside, the company also focuses its efforts to understand the ever-changing demands and preferences of the customers and to provide filtered and custom tailored solutions to their problems.

LSI Keywords: internet portal known as Sposter, Chengdu Wolaila, offline advertising business, Deloitte Asia Pacific Tech Fast 500, technological opportunities at hand in China

Five People You Would Meet In A Founding Startup Team (Rank Princess – SEO)

You can take it for granted that in the stormy startup world, there are bound to be instances where everything goes wrong. Only exceptional founding teams can stand through competition, funding issues, market fluctuations, staff departures, etc. and steer the boat to the safety of the shore.

So how you set up your founding team, more or less, decides the trajectory of your business.

A stellar founding team would incorporate a bouquet of personalities, each with a unique talent. So here is a list of the only five people you would need in your founding team to make it rock!

The Prima Donna Leader

He is the Danny Ocean here, leading the pack of 11, or 5 in this case! He is usually seen as the honest, insightful, suave genius who would be manning the wheel through thick and thin.

He challenges the rest of the team, asking for things that everyone is unsure of. Filled with passion and authority to take a decision during conflicts or controversies, he is clearly the nucleus of the cell.

The Veteran Designer

Although start-ups are usually formed around exciting new ideas, it helps to have someone who knows the direction of currents in the industry. The veteran is the person who has an understanding of the competitive landscape, PR campaigns and the design of the project.

He can identify customer needs to add all the relevant characteristics of the product. If you notice a dreamy professor in the group, with a ruffled hairstyle and sparkling eyes buzzing with ideas, he is the one!

The Tech-Savvy Programmer

He is the geek, the nerve centre of the team, the member who puts together various technologies to build the product or service. He knows how to leverage technology to create a sustainable business model.

You can spot him wearing a crown, as he is simply indispensable. We like to call him the rainmaker who can load clouds with water crystals at the click of a button!

The Lion of Sales

Startups with blazing ideas should not forget that someone should be at the helm, selling them. Enter the lion of sales. He is a customer champion who purely focuses on consumer needs and pitches the product in an intuitive, crisp and clear manner.

He understands the benefits of attuning to user feedback and is incessantly in the pursuit of finding more customers. You can recognise him easily, as he is the aggressive one in the pack with a blazing mane.

The All-Rounder of Operations

He understands the burn rate, the viability and profitability of the business and he fine tunes the day-to-day operations of the startup, based on these calculations. Aggregating resources and raw materials and keeping track of their usage, all come under his umbrella. You can recognise him as the bespectacled youngster with an attitude that trumps it all!

On a final note, it is mandatory to collate great skills and varying personalities in the founding team. This is like an insurance policy that protects the boat during hard times. Pick people with similar beliefs on how they run their life, as this could come in handy in the long run.

LSI Keywords: Founding Startup Team, founding teams, Prima Donna Leader, Veteran Designer, Tech-Savvy Programmer, Lion of Sales, All-Rounder of Operations

References

https://www.fastcompany.com/3032548/hit-the-ground-running/the-only-6-people-you-need-on-your-founding-startup-team

https://www.quora.com/What-is-the-perfect-startup-team

https://www.entrepreneur.com/article/238883

http://tech.co/how-to-build-a-startup-team-2010-08

https://bothsidesofthetable.com/how-to-configure-your-startup-team-3fb25f7281b0#.vg7gufwh8

https://medium.com/startups-and-investment/the-importance-of-the-founding-team-82fdf7121a27#.4z5uvdwqr

https://www.linkedin.com/pulse/how-important-startups-founding-team-who-should-included-alibhai

https://www.cta.tech/News/Blog/Articles/2014/March/What-Makes-for-a-Successful-Startup-Founding-Team.aspx

Five Legal Complexities When Founding a Startup in India (Content Princess – SEO)

On January 16, 2016, the “Start-Up India” initiative was launched by the Prime Minister of India, in conjunction with the Ministry of Commerce and Industry. The aim is to promote entrepreneurship and innovation and to transform India into a nation of job creators.

There are some legal requirements to become an entrepreneur and build a startup business. Here are five elements to keep in mind as you create a start-up.

The Legal Entity of the Business

Depending on the structure and business plan that an entrepreneur has, the legal entity of the business will change. The startup company can be registered as one of five entities listed in the infographic below. Each entity has distinct advantages and disadvantages. The investments and legal requirements will change for each category.

kbusinessboosters.vccircle.com/articles/choose-wise-right-legal-entity-your-startup”>http://kotakbusinessboosters.vccircle.com/articles/choose-wise-right-legal-entity-your-startup

Business Licences and Legislations

To begin, an entrepreneur must obtain a business license to operate within a given city. The chosen office location will need to have the correct city zoning for the type of business that will be there. Furthermore, the state and central government may require additional licenses to operate the business. Depending on the kind of work, fire, air and water pollution, and sign permits will need to be obtained.

Other than government-issued licenses, the businessperson will also need to look into labour legislations. In the beginning, they may be the sole employee of the start-up, but as the business grows, this could change quickly. There are dozens of labour welfare acts that founders should be familiar with, as well as details regarding wages, health and safety, and social security.

Taxes

In addition to the licenses mentioned above, the entrepreneur will need to determine what taxes will need to be charged to clients and/or paid to the government. These will vary depending on the location of the establishment and the nature of the work it does.

Comprehensive Contracts and Their Enforcement

India ranks as one of the worst countries in which to enforce a contract. Because of that, startup ventures will need to learn how to enforce the contracts that they make. This canbe done through arbitration, recovery strategies in the contract, or with the help of the Ministry of Micro Small and Medium Enterprises.

Before signing, contracts need to be searched for hidden clauses that may harm the start-up. Two must-have clauses to look out for are a non-compete clause and a confidentiality clause.

Investors, Investments, and Funding

Promoters may need money to start their business. Depending on the legal entity that they have registered, funding may be available from a variety of sources. Investors may be domestic or foreign, but all will require some form of a contract. Initially, this will be a term sheet and may need legal advice to complete.

Start-ups may be receiving less funding compared to last year, but this has decreased competition among companies. As long as the business model is strong, having less access to funding should not harm the start-up. Plus, as soon as the start-up is profitable, it is eligible for bank loans.

LSI Keywords

Variants of LSI: Startup business, startup company, Startup ventures,

Antonyms/Synonyms: Entrepreneurship, business, legal entity, establishment

Sources:

https://www.entrepreneur.com/article/38882

http://withstartups.com/primer-startup-laws-india-entrepreneur-needs-know-2/

https://www.entrepreneur.com/article/252192

https://yourstory.com/2014/11/startup-legal-tips/

http://kotakbusinessboosters.vccircle.com/articles/how-startups-india-can-grow-constrained-funding-environment

http://kotakbusinessboosters.vccircle.com/articles/startup-funding-applying-bank-loan-here-what-you-need-know