Every start-up and every company has a different story and different requirements when it comes to accounting, taxation, and compliance requirements. Here in this post, we have tried to explain some of our client's stories and how we (BBNC) as a team have helped them with saving the cost of compliances for their startup.
Case 1: When the compliance cost was too much for a newly incorporated company.
Background: The client is a Hyderabad-based newly incorporated software company, at that time when they approached us they had just 2 employees who were working on the software development of the company. The founders were looking for someone who can take care of their companies Accounting and compliance requirements at a minimal cost.
Solution: After discussing with the client we understood his requirements, so our main objective was to offer the most basic compliance package at a minimal cost. We offered our best possible solution at the best possible cost to not feel the burden of compliances for the first financial year.
As the company started growing, we along with them started taking care of their end-to-end requirement of Accounting, Taxation, Legal, and compliance requirements. We also helped them with the funding compliances and drafting shareholder's agreements as they raised the angel round of investment for their company.
Conclusion: BBNC was there throughout the journey of our clients helping them take care of their end-to-end requirements in every possible way. As we have all the professionals under one roof, we were able to offer the best price for our clients. Saving the cost of compliances in their hard time.
Case 2: When early age startup founders were too busy to focus on compliances
Background: A Bangalore-based early age IT Startup company with only three founders and no employees was looking for someone who can take responsibility for their private limited company's monthly accounting and compliances requirements as the founders of the company were too busy with developing their unique product.
Solution: In the initial discussion with the founders we understood that all the co-founders of the company were from a technical background. Hence they did not know about accounting and compliances. They were looking for someone who can take responsibility for this part.
We offered our best accounting and compliance package with taking complete responsibility for their compliances so that they can focus on their product development without worrying about the companies compliances.
As of today we still take care of their monthly accounting and compliances including bookkeeping services so that the founders can focus on the core business of their company.
Conclusion: BBNC helped the startup with compliances in such a way that the founders can utilize the best of their time without worrying about the compliance for their startup. Every month we send our clients reminders on their various monthly compliances to save them from the hefty penalties of late filings.
If you are wondering what are the compliances for a newly incorporated company here is the list for Post Incorporation Compliances and Tasks and here is a list of complete compliances a company must follow in a financial year.
If you need any help with filing or completing any of the above tasks, feel free to write to us at firstname.lastname@example.org.