Start-Up Solutions and Compliance Unit 1-3
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Questions and Answers

Which of the following is NOT a responsibility of a Start-up Support Executive?

  • Prepare financial reports for existing companies. (correct)
  • Discuss registrations and statutory compliances of Partnership.
  • Describe ideas and the legality of Start-up solutions.
  • Identify ideas and analyze the applicability of statutory filings.
  • What is a key component of the Unique Selling Proposition (USP) for a start-up?

  • Emphasizing the legal compliance requirements.
  • Providing a detailed SWOT analysis.
  • Highlighting the distinct benefits that differentiate it from competitors. (correct)
  • Focusing solely on cost leadership.
  • Which document is essential for the registration of a Limited Liability Partnership?

  • Director Identification Number.
  • Memorandum of Association.
  • Articles of Association.
  • Partnership deed. (correct)
  • What must be prepared to comply with legal registration requirements for a start-up?

    <p>Corporate by-laws. (A)</p> Signup and view all the answers

    What does a SWOT analysis focus on?

    <p>Internal strengths and weaknesses, external opportunities and threats. (C)</p> Signup and view all the answers

    Which Act pertains specifically to the establishment of Limited Liability Partnerships?

    <p>Limited Liability Partnership Act 2008. (A)</p> Signup and view all the answers

    Which of the following is an example of statutory compliance for a start-up?

    <p>Obtaining a Director Identification Number. (D)</p> Signup and view all the answers

    What is the primary purpose of the Memorandum of Association?

    <p>To outline the company’s objectives and scope. (D)</p> Signup and view all the answers

    Study Notes

    SEC Outcomes

    • Learners should acquire knowledge and skills for start-up solutions
    • Understand partnership registrations and statutory compliance
    • Identify procedural codes for company filings
    • Prepare company documents

    Unit 1

    • Define roles & responsibilities of a start-up support executive
    • Understand organizational structure and reporting hierarchy
    • Identify start-up employment opportunities
    • Create a start-up business plan

    Practical - Unit 1

    • Develop a unique selling proposition (USP)
    • Create organizational bylaws
    • Conduct a start-up analysis (case study)
    • Prepare a budget for the proposed start-up

    Unit 2

    • Perform SWOT analysis of start-up
    • Define a start-up’s unique selling proposition
    • Understand start-up requirements
    • Analyze the market overview

    Practical - Unit 2

    • Prepare a partnership deed
    • Register for a partnership (state-government portal)
    • Prepare documents for a limited liability partnership

    Unit 3

    • Identify documents needed for start-ups
    • Understand legal structures of corporations
    • Identify relevant partnership laws
    • Prepare essential documents (bank accounts, PAN etc)

    Practical - Unit 3

    • Prepare a memorandum of association and articles of association

    Unit 4

    • Understand Limited Liability Partnership Act 2008
    • Discuss partner identification number (PIN)
    • Understand name approval process
    • Register with registrar of companies using ministry of corporate affairs portal
    • Understand one-person company (OPC) forms (INC-3)

    Practical - Unit 4

    • Register for director identification number (DIN)
    • File necessary documents using the ministry of corporate affairs portal

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    Description

    This quiz covers essential knowledge and skills for start-up solutions, focusing on statutory compliance, business planning, and market analysis. Learners will explore roles of start-up support executives and practical procedures for partnerships and LLCs. Test your understanding of the frameworks needed to launch and manage a successful start-up.

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