More than 2 million startups are in India, but few have managed to get an education certificate, which allows them to open their own businesses.
With the passage of the Entrepreneurship and Education Entrance Exam (EE-E exam) in June 2018, the government has put a lot of pressure on them to register their ventures with the government and start operating.
But there are still some hurdles that startups will have to overcome.
Read more: Startup entrepreneurs have to register with the local government before getting an education qualification.
The CE-IT is mandatory for startups to open a company, but many don’t register their companies with the IT department.
According to an analysis conducted by Mint, the IT departments in the states of Maharashtra and Uttar Pradesh have reported over 10,000 cases of companies registering without an IT department and not getting an official certificate.
In 2017, the state government started registering startups in Maharashtra, with about 15,000 registered in 2017.
These numbers are expected to grow in the next year.
According the state, the number of startups registered in the state is expected to be more than 70 lakh in the year 2022.
The startup entrepreneurs are required to register a business with the relevant state government by registering the business with an IT professional in the same state.
According a recent report by the Centre for Entrepreneurs Research and Development, around 90% of startups in the country have registered their companies in the first year.
In states like Uttar Pradesh, Maharashtra and Gujarat, there are several hurdles that entrepreneurs will have a tough time getting through.
Here are some of the key points that entrepreneurs have mentioned:1.
The registration is not free.
Startup startups have to pay Rs 10,500 as the registration fee for the IT professionals to get their name registered with the state.
The startup has to pay the fees to the IT professional for two months.
They can not open their first company with the support of the government.
There are some states where it is mandatory to register as an incubator with the incubator registered with them.
In these states, it is not easy to open an incubation, but it is also not mandatory for a startup to register an incubate.
There is a catch: an incubated company is not a registered company.
In some states, startups can not access bank accounts.
In Uttar Pradesh where the state has over 100,000 startups, a startup can’t open an account at the Central Bank.
In many states, an entrepreneur is required to pay a fee for a certificate.
In the next two years, the cost of the certificate can run up to Rs 1,000.
In states where startups are required not to have any connection with government, the founders have to be given the opportunity to set up a website in their name.
They are allowed to set a business model for their website and are not required to share any information with the startup.
The company is required not get more than Rs 100,001 from investors.
According this data, there were 5,927 companies in India that raised at least Rs 100 lakh in 2017 and were registered with at least one bank account.
According another data, the total value of investments in India in 2016 was over Rs 3.6 trillion.
The companies have to share their financial details with the investors, as the government does not require them to disclose their financial status with any information.
The government has to register the company with an Indian company registered in India.
The IT professionals have to ensure that the startup is an Indian startup and does not belong to any other country.
The investors have to verify the existence of an Indian registered company before they invest in the company.
In fact, if a company is a registered Indian company, the Indian government does require the founders to have the necessary information with them when registering the company and the investors must have access to the details.
If you want to start your own business, you have to set aside at least 30 days to get the certificate.
However, there is a fee that has to be paid.
According TOI, a company can earn more than ₹30,000 from each investor.
This amount is supposed to be used for the acquisition of equipment, marketing materials, branding and other costs of the company, and for the cost incurred in operating the business.
The amount is to be set aside for the purposes of funding and building up the business, so that it will be profitable.
If the company has more than 30 days left, the company can continue to pay fees to all investors for at least five years, according to the TOI report.
A startup company has to have a minimum of ₨3.5 crore in assets to be eligible for the CE-ITT.
According Mint, it has to hold a minimum gross income of ₪10 crore and an annual turnover of №20 crore to be registered with an education authority.
A company can open up more than one