Delhi: There are many business plans that do not get funding, investment on time and remain just ideas. If you also have an idea, which will take you far ahead, but you do not have funds, there is no one to invest in this idea, then today we are telling you about such a government scheme, By which your problem will be solved and your dreams will be fulfilled. Several major provisions have been made for startups in the budget presented by Finance Minister Nirmala Sitharaman on 1 February. After their implementation, not only new startups will be benefited, but old startups will also have better days. Whether you are starting your startup or have already started a startup, Government schemes are very beneficial for you. Not only this, but in the budget and from time to time, the government is making it easier to do business by starting various schemes for startups or small businesses. The main features of this scheme are as follows…
Only pan card is needed to start a new business
Starting any business requires setting up a firm or company. For this KYC documents are required. In this year’s budget, the government has given a big relief, now only PAN card will be required to start a new business. The central government has come up with several schemes to promote startups in the country. Everything from registration to loan is written in these schemes. Startup India Seed Fund Scheme (SISFS) which provides capital to startups for market entry, product testing, prototype development, commercialization etc. The capital invested at the beginning of any startup is called seed money. The objective of this scheme is to provide funds in the beginning of startups.
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What are the terms of the scheme?
- Only startups approved by DPIIT will get the benefit of the scheme.
- Your startup should not be more than two years old to apply.
- Startup should not have received financial assistance of more than 10 lakhs from any other scheme of Central or State Government.
- Indian promoters holding in Startup should not be less than 51% at the time of application.
- More details about the scheme can be seen at the website seedfund.startupindia.gov.in.