Financial Support For Startups

“Financial support for startup companies needs to be created wholesomely and then implemented aggressively. Apart from machineries, equipment, and other resources, a startup needs money for day-to-day operations expenses and for advertisement and marketing purposes. Currently, it is very difficult for any start-up company to get funding. Most banks ask for collaterals and the procedure is cumbersome. This makes startups vulnerable to the preying eyes of mischievous lenders. On the side lines, such initiative will also help in easing-out unemployment burden on the economy, thereby luring people to take initiative and the build-up on their business ideas,” says Rajesh Nagpal, Managing Director, Service Uncle Australia.

He feels that the reduction in personal and corporate taxation is what everyone looks for. With less taxation rate more people will be willing to disclose their real wealth to avoid related troubles and leading less black money being floated in the market. “With so many scams and corruption scandals uncovered in recent past, I feel that government should introduce certain measures so that people start avoiding going down that route!” says Nagpal.

Rajesh Nagpal is the Managing Director, Service Uncle Australia a service information portal, which recently launched in India. A combination of B2B and B2C portals, it enables users to find information about services or service providers across the globe.