The startup ecosystem is improving from time to time because of new policies launched by Government of India. Indian startup ecosystem is now considered as one of the largest ecosystems worldwide. In last few years government has issued several measures to boost this ecosystem especially in terms of tax savings and startup India initiative.
But still, startup and investors are seeking some answers for the problems like angel taxation and the issue of providing legal recognition to angel networks through which a large number of angel deals take place. It is hoped that by this year union budget it will help in simplifying these problems. Lets see from experts point of view that what startups can expect from Union Budget 2018.
Startup SME Expectations from Union Budget 2018
Amit Singh, Co-Founder of Yitsol Technologies said:
Budget provisions to attract talent to startup/small companies:
Startups adopt disruptive and innovative ways of creating value in terms of Jobs, Revenue and better tech and social facilities for the country. While doing this acquiring right resources becomes a challenge for the startups. It would be great if Governmentcan offer special provisions for human resources working with startups. This would encourage resources to work for a startup, which is generally considered risky compared to working for established companies.
Special provisions to help startup/ smaller companies to participate in technology tenders of Government:
Almost all the Government tenders come with very strict qualifying criteria in terms of revenue and balance sheets. There are startups/small companies with products/solutions which fit the technical requirement of a tender but these companies don't qualify for the financial qualifying criteria. It would be a good push for startups and entrepreneurship if Govt can have some norms to facilitate financial qualifying criteria for product/solutions coming from startup.
Shantanu Singh Chauhan - Co-Founder of Startup Arena said:
While the government has identified SMB as a very important segment, and introduce a program like StartupIndia, accessing government contract is a far fetch dream for small businesses.
Few points from Union Budget 2018:
Mr.Pankaj Agarwal,Co-founder MD of Just Organik said:
Rishabh Vyas, Founder CEO of Baromeeter said:
"We expect the government to reconsider the MAT policy and eradicate it for the start-ups. I also expect the government to think about the removal of Angel Tax to help the startup to grow. I hope the government will also clear its stance on getting incentives from digital payments. Its really important for the government to come up with more clear policies with the budget 2018-19 to promote entrepreneurship among the youth and to encourage startups further. "