Startups & MSME FAQs

What are Startups?

Startups are new entities established or incorporated mostly by first generation entrepreneurs who wants to build their own identity by engaging into business and handling the same.

What are registered Startups and non-registered startups?

Non Registered startups are any new businesses which run in the country, whereas registered startups are entities who are officially recognised by Government under Startup India initiative.

How GetSetLegal helps Startups?

We help startups and new businesses by providing primary legal help and by solving their legal queries which are important at the time of starting a business. We provide business to handle legal issues and other problems before they become uncontrollable.

Do startups get any concession from Government?

Yes, currently Indian Government provides many benefits like Govt fee exemption for Trademarks & Patents, tax exemption, loan facility under Startup India Initiative and MSME.

Is it mandatory to incorporate a company for starting a business?

Though advisable, but its not mandatory to incorporate a company to start a business, but please note to get benefits under Startup India a body incorporate is mandatory.

Are startups to be renewed yearly?

Currently their is specify period for which registered startups are given concession.

What is a Udyog Aadhar?

Udyog Adhar or MSME certificate is issued by Ministry of Micro, Small and Middle Enterprises for new businesses and is advisable to get it for your company. We at GetSetLegal can help you for hassle free application.

Turnover Limit of Udyog Aadhar?

A company with turnover below Rs. 10 Cr (Manufacturing) and Rs. 5 Cr (Services) can apply for Udyog Aadhar. Please note you cant apply for this certificate if you are a retailer or wholesaler.

Do I need an DSC (Digital Signature)?

DSC is not required.

Can I get open current bank account on Udyog Aadhar?

Many banks recognise Udyog Aadhar as valid document for opening bank account. But please contact the to know more.

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