India is on the world’s top list when it comes to the number of startups operating in it. Also, series like Shark Tank India are motivating Gen Z and Millenials to own a startup or rather work in it. This boom in the startup ecosystem has brought a startup revolution in India and that has helped many startups to turn into successful unicorns.
But this revolution was not possible without a group of professionals who gave their substantial support to startups for their growth. Their role in upbringing a startup has been persistent. These professionals are CA, lawyers, consultants, Chief of Staff services providers, etc.
I would like to throw light on the
Role of CA professionals in India’s startup revolution
Well to start with, we need to know the fact that operating a startup in India is not a bed of roses. Right from initiation to expansion, the different business faces different complexities depending on the type of their business. There’s always tax and legal compliance that a founder has to abide by, right from the ideation stage. A startup founder alone cannot handle all these things.
Usually observed an Indian founder will prefer to work with Chartered accountants. There are certain reasons for the same, let’s see what they are :
A chartered accountant has the expertise who can view the whole startup plan in a comprehensive way. With the experience and expertise of a CA, they can provide consultation to any startup at various stages of its growth journey. A startup founder can have a strong foundation if the basic startup fundamentals are well planned like identity, entity selection, tax structure, applicable statutes, etc.
Let’s Founders focus on Startup Vision
CA provides a bundle of services that helps startup founders to manage their non-business operations like bookkeeping, tax compliance, data management, MIS & various other analytical and financial reports. Being a founder can be least bothered about these operations and can focus on the startup vision, expansion, and implementation of various other important activities.
Tech-enabled new age CA’s
New aged CA firms have been more tech-enabled and accurate when it comes to providing services. A significant collaboration of knowledge on statutory and legal guides with strong tech platforms is fruitful for startups that are growing to be a unicorn.
Approachability to Small Startups
Here CA’s solve the problem of affordability of their services. Not every startup has the bandwidth in terms of funds to approach top-notch professionals. Today’s CA professionals can be a buddy and they can willingly provide guidance to small and medium scale startups. Founders are willing to seek proper guidance and enhance their entrepreneurship journey.
To end a chartered accountant supports a startup in a number of ways, the above few were just a few of them. Our aim is to support startup founders as they are an essential part of India’s economic growth. We wish that every startup lays its foundation to the best of its capacity and embraces its journey with the right professionals. As we thrive to do it right by you.