Do you have any creative or unique ideas from which you want to start a business? Then, you can register for a Startup. Startups are upcoming businesses or ideas with unique products or services that have been commercialized recently. Nykaa.com, Unacademy, and Swiggy are examples of some popular startups in India.
Earlier, it was difficult to start a business as it was difficult to get funds for innovative projects. People used to spend their spending at a safe place where the return was guaranteed. So, not many people went on the path of creativity and innovation and the growth speed of our country was slow. But now times have changed and people can secure funding for their projects so more and more people are interested in making their dreams a reality.
How to Register a Startup?
You can register a Startup with DPIIT under the Indian government’s Startup India scheme through the website of DPIIT.
The Department for Promotion of Industry and Internal Trade (DPIIT) was established in the year 1995 and was reconstituted in the year 2000 with the merger of the Department of Industrial Development. The department was earlier called the Department of Industrial Policy & Promotion and was renamed as DPIIT in January 2019. The role of DPIIT is to promote/accelerate the industrial Development of the Country by facilitating investment in new and upcoming technology, and foreign direct investment, and supporting the balanced development of industries.
What is Startup India?
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive to the growth of startup businesses, 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.
India has the 3rd largest startup ecosystem in the world.
Essentials for Registering a Startup
- The turnover of the firm should be less than 1 crore.
- They should be registered with MCA Like One Person Company (OPC), Limited Liability Partnership (LLP), and Private Limited Company (PLC).
- PLC is a separate legal entity registered under the Companies Act, 2013. Limited Liability Partnership is a separate legal entity registered under the LLP Act, 2008.s
- OPC is a separate legal entity registered under the Companies Act, 2013. Services-oriented businesses that have low investment needs.
- LLP is a separate legal entity registered under the LLP Act, 2008. Proprietors are looking to limit their liability & have 100% control.
- Sole proprietors i.e., single business holders cannot register for Startup. So, you need to incorporate your company for it to be eligible for the Startup scheme.
- The idea should be unique for it to be eligible to get a certificate from Startup India.
Conclusion
No innovative idea should go to waste. The government of India will provide you with the required support to start your business under the scheme of Startup India as it is not only for the development of your business but also for the growth of our country. If you qualify all these essential qualities and criteria, then go to the website of DPIIT and register for your Startup. Hence, you can start a business with the help of the government if your idea fulfills the above essentials.
You can click here to direct to the website- Dpiit
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