India’s start-up ecosystem is booming, with the country now ranking as the world’s third-largest. To support aspiring entrepreneurs and finance professionals in India, ACCA (the Association of Chartered Certified Accountants) has unveiled a Founder’s Guide for Start-Ups and Entrepreneurs: Role of Accountancy and Finance. The guide, launched at the ACCA New Members’ Ceremony in Bengaluru, offers insights and practical guidance, highlighting the pivotal role of financial management in start-ups and showcasing success stories from entrepreneurs.
The guide emphasizes the importance of securing a good valuation, managing day-to-day finances effectively, and ensuring sustainable growth. It also stresses the significance of deploying good corporate governance from the start, taking calculated risks, and managing regulatory and tax issues. By following these six crucial steps, start-ups can increase their chances of success and sustainability in India’s competitive entrepreneurial landscape.
Md. Sajid Khan, Director – India, ACCA, emphasized the role of effective financial management and regulatory compliance in entrepreneurship. He stated that the guide serves as a compass for aspiring entrepreneurs, helping them navigate the complexities of the start-up landscape in India. Khan highlighted the valuable role professional accountants can play in supporting start-ups and fostering sustainable business growth.
The guide encourages entrepreneurs to explore diverse support networks and tap into resources offered by start-up ecosystems, such as NSRCEL at IIM Bangalore. By leveraging the expertise provided in the guide, individuals can equip themselves with the knowledge and tools necessary to thrive in India’s dynamic start-up ecosystem.
Entrepreneurs, aspiring start-up founders, and professional accountants are encouraged to visit www.accaglobal.com/start-ups to access the full guide and explore the insights presented. ACCA’s commitment to supporting the thriving start-up ecosystem in India underscores its dedication to empowering individuals to pursue their entrepreneurial dreams.
