Start-ups are very common in the modern age, with many of them becoming big successes and worth billions. There are number of ways to achieve success with a start-up. However, finding skilled people willing to take part can be difficult in today’s society.
Starting a business is difficult and there are many challenges you will face. Accounting and taxation are important subjects that all new business owners need to understand. The practices surrounding accounting for a start-up are different from what traditional companies use. Additionally, it is important to understand how taxes may affect a popular business in the process of starting up.
There are some initiatives being taken by government agencies and private companies to address this issue. The Indian Startup Ecosystem Development Centre (ISEDC) is working on developing a standardized approach to help start-ups get off the ground. The ISEDC also runs an accelerator program called Techstars, which provides start-ups with mentorship, funding, and access to resources.