New Delhi: Indian startup world has been traditionally dominated by optimistic news on new ideas, however, in the recent times, the world has been marred with numerous controversies. A controversy is whereby, people become fighting over something and a lot of trouble arises. The “regulators” are currently going at loggerheads with some of the most well-known startup founders in India. Regulators are the government individuals who come up with the rules to help make sure that firms are acting in good faith. They are the business world principals and teachers.
Why are they fighting? But now, according to the regulators, not all startups are observing the rules regarding money. As an example, there were firms that were not maintaining good records of the origin of their money. Others were giving empty promises to their clients. Upon the realization of the regulators, they directed these companies to pay huge fines or even terminate some of their services. The founders were furious about this. They claim that the regulations are too stringent and they find it difficult to run their businesses within a short period.
Such a collision does not augur well with the image of Indian startups. When the Indians in other countries realize that the Indian startups are always on the wrong side of the law, then people may not be willing to pay them even more. It also leaves the customers feeling insecure. Startups should understand that despite an excellent and cool idea, they must obey the laws of the country. Business owners are expected to obey government rules just like the students have to obey school rules. This will enable them to develop in a healthy manner.
