Start Up India - Whats Needed Now
Some of the circle recommendations from you in Q1 this year have been accepted by DIPP. This has been the case where actions were in the Central Government domain. Unfortunately, the funding environment for startups and entrepreneurs has considerably weakened though.
With this post, we would like to seek your inputs on what are the key steps that should be taken by Central Government and State Governments NOW to give a boost to entrepreneurship and start ups.
We look forward to your inputs! more
With this post, we would like to seek your inputs on what are the key steps that should be taken by Central Government and State Governments NOW to give a boost to entrepreneurship and start ups.
We look forward to your inputs! more
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There should be facilitation counters in and at convenient locations where all the requirements should be available in one location in a computerized monitor which has to be manned and also give further help. Online applications for start ups should be available in the same counters. more
Sep 06
Either a start up or a young establishment, we have to face a lot of government departments' registration or renew every year or so. A small enterprise, which is controlled single handedly, its too difficult to maintain all on time. Its not a negligence or unintentional of the entrepreneur but its the matte of time or memory to fill or the funds on time. Can't it be a single tax or so as GST is taking place so that we get more time on other constructive activity. more
Sep 05
1. Several of the start ups are unaware of the legal compliances required on their part in starting up a business or industry. Therefore, there must be a publication (which must be available over the internet) giving the requisite information. This must serve as a single source. State government laws differ. Therefore they can bring out their own publications listing their requirements. Taken together, these must be reliable enough for the prospective entrepreneur. 2. Very often, ventures have to raise finance from banks. This would require security - sometimes over land and buildings. The title of the entrepreneur to the property offered as security has to be certified by bank's panel advocate. To streamline the process, a system of certification of title by government has to be evolved. This appears to be already under process. Whoever is concerned must expedite and take the matter to a logical conclusion. 3. There are some unscrupulous entrepreneurs. Because of their wrong doings, bank officials are forced to be cautious. They cannot differentiate between bad cases and god cases and follow the same yardstick. This, in turn, affects, sincere investors. In order to weed out the culprits, the District Industries Centre or some such agency must be entrusted with the task of vetting all proposals (instead of bank officials) so that bank officials are freed from responsibility in this regard. The officials of DIC must be trained and must be made responsible for their reports. The bank's role will be to go through the report of DIC and indicate whether or not it would be interested in funding the proposal as suggested by DIC. Presently, bank's officials gain experience over a period of time in financing of units and till such time they get proper exposure, they are vulnerable to mistakes. Further, they are susceptible to transfers. Therefore, accountability gets dissipated. At the same time, government must be cautious to entrust such evaluation to honest officials in the District Industries Centre. Otherwise these centres would get transformed into dens of corruption. more
Sep 04
The State and central government must cut out the bureaucracy. recently, I tried to bid for a contract through UKTI. After initial exchanges, they wanted 5 copies of hard copies of the proposal to another department. Not only that they had many other requirements. Why can not accept Email attachments as LOI. They should have the capacity to look in to the web site of the providers, Phone number, address etc. After all they can ask for all details before providing the contract. More response they get they have better chance to find the right company. My observation is that this tenders are only to show the minister that the due process was carried out. They know who is the provider before they start the process. All has been done and dusted before the formalities started. Another thing, if any one in India believes that the corruption has been stopped in India, they are only fooling themselves. Corruption is ripe at ALL levels including ............ more
Sep 03
Open n transparent setting up procedures and audit redundant laws statutes to be done away with readiness to get incorporated banks to flex and transform from traditional banking patterns when funding startup ventures and student projects not 101 filing forms to record revenue n to assess taxes IP filing and awarding to be made easy corporates to come forth with incubation for the right ventures more
Sep 03
