Small entrepreneurs will no longer have to live for business, government will give loan, know process
new Delhi. More than half of the population in our country is youth. Many of these people are also very skilled, but due to lack of money and lack of proper guidance, they are turning around unemployed. They want to do business, but they have no guarantee to take a loan. The Startup India Scheme can be beneficial to help such people. This may give wings to the dreams of small business starters. So what is the benefit of this scheme and how can we take it, let us know.
What is this plan
The Startup India Scheme is a scheme launched by the Government of India to promote trade and entrepreneurship. It also aims to boost employment opportunities in the country. Under this scheme, new generation and new thinking youth are added so that they can make themselves fit for employment. Also give jobs to others. It provides loan facilities, favorable environment and proper guidance etc. The scheme is controlled by the Department of Industrial Policy and Promotion.
Beneficial for new start ups
Online applications can be made under the scheme from the official website or app of the Department of Industrial Policy and Promotion. In this, opportunity is given to such people whose business has been less than 25 crores in 7 or 10 years or they are new entrepreneurs. Industry holders registering under this scheme are given relief from the first 3 years of inward tax.
These facilities will be available
Under the start up scheme, the government provides financial assistance to new entrepreneurs to start businesses. Also provides training to start a business. Under this scheme, no tax is charged on 20% of the business cost to newcomers. Also, if the new business does not run properly, the government also allows new entrepreneurs to close their business within 90 days.