Hidden Costs That Impact Startup Businesses
Hidden Costs of Running Startup Businesses Licenses and Permits: Licenses and permits are essential to run a startup business in India. According to the nature of the business, imperative to obtain multiple licenses from different authorities. These licenses and permits have certain cost that can add up over time. In case, if you fail to obtain required licenses and permits for your business that can result in fines and penalties, which can be even more expensive. Therefore, before starting business imperative to acquire proper knowledge of business domain and understanding of license and permits for smooth functioning of the business. In addition, make sure to track expiration dates of your licenses and renew them to avoid any penalties. Legal Fees: From trademark registration , company registration to GST registration ; there is a great significance of legal services for business. Apart from that, from drafting contracts to dealing with legal disputes, legal se...