What is Start-Ups(SUs) & Early Stage Units(ESUs):
- Start-Up is an Entrepreneurial Venture or a new Business in the form of a Company, a Partnership, Proprietorship, etc. generally newly created with innovative concepts and ambition too high growth potential.
- Early Stage Unit (ESU) is a unit that has not completed 3 years from the date of commercial operation/ first Balance sheet whichever is earlier.
The Startups are growing in our country day by day, there are so many Indian startups who hit big even the Government of India also takes many steps to promote the startup culture. They know what kind of business they are going to do but they lack in some areas due to lack of experience, technical expertise in some important fields, legal compliances. Here comes the role of working professionals who help them to hit big by helping them in many areas, so that they can only focus on their core competencies and not to worry about the things that are not relevant for them. But you have to follow each and every regulatory compliance and other things in order to work seamlessly.
By consultancy, we mean providing handholding support to startups by helping them in fulfilling various functions. Let us see what kind of expertise offering in consultancy:
- Strategy and planning- The experts of the area provide you the best strategy after understanding what kind of startup you have, who is your target segment, in which industry you are going to deal with, in what kind of product or services you deal with. By analysis, they provide you the best suitable strategy and insights for your startup, so that it can help you to take-off your venture very well at the initial stage.
- Legal & Accounting Framework: The legal matters in the very beginning like the formation of your company/partnership/proprietorship as the case may be. The documentation and legal paperwork, getting registration in various authorities, obtaining various certificates, etc. Their experts also help you in accounting services like maintaining your expense sheets. You are providing you the insights of income and expenditure, where the funds are allocated, where the money is over-utilized, calculation of taxes which is a very important part of the services, keep tracking of your funds, etc.
- Branding: It is the area now which you can not ignore, as nowadays you must have to brand your product or services very intelligently so that you can hit your target audience and get your product or services to the right door. So you have to be very careful in this segment as well. Here the experts help you to resolve all your branding issues by providing you the best solution according to your business need.
- Build a quality website: They offer you to build a quality website because in the current scenario you must have an online presence in order to get a good business. They help you to build a website which helps you to decide the build, technology, outlays, etc. So you have a good running online platform to display your business.
- Assistance for finance: One of the most important things in which they help you is finance. They suggest so many ways of finance so that you get sufficient funds to run your business. They provide you to go through various government finance schemes, banking finance, and options like finance from venture capital (VC), raising funds through IPO ( initial public offer), angel investors, crowdfunding, etc.
These are some of the things which consultancy includes, there are so many more things from which you will be benefited which depends upon your requirements and the circumstances so that to provide you the best.