🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

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Anonymous

Hey I am on Medial • 8m

Should one save money before building a startup? If so, how much money is needed? Working in a corporate job. If one wants to build their own tech company, should he/she save some money before getting started. How much is needed to hire ppl and setup office and what amount should be saved as a safety net?

2 replies4 likes

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Anonymous 2

Hey I am on Medial • 8m

You make sure these things are taken care of before you quit: Company registration: ₹5,000 - ₹20,000 GST registration and compliance: ₹10,000 - ₹30,000 annually Trademark registration: ₹8,000 - ₹15,000 Basic legal contracts: ₹50,000 - ₹1 lakh Plus tech cost around 30-40k

0 replies1 like

Anonymous 1

Hey I am on Medial • 8m

From my experience in the Indian startup ecosystem: - Save at least 6-12 months of living expenses (₹3-6 lakhs for most metros) - Initial startup costs: ₹10-25 lakhs for a basic tech startup - Consider co-working spaces instead of leasing an office initially - Leverage platforms like Internshala for interns to reduce initial hiring costs - Use government schemes like Startup India for potential funding and tax benefits Start lean and prove your concept before seeking major funding.

0 replies1 like

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