The Role of a CA Firm in Starting a New Company

Having a startup, planning to set up your business from scratch, or wanting to create a new company for your existing venture all require a lot of brainstorming and groundwork. It involves a lot of legalities and financial acumen besides the core business plan. From compliance with the law to managing all financial matters, charted accountant firms in Mumbai help ensure that your new company gets all the support to face complex challenges and easily navigate to your core activities. Here are the different ways in which CA firms in Mumbai play a crucial role in starting a new company.

Why are CA Firms Needed?

Business Structure and Registration

The first step is creating a structural pattern for your new company. An appropriate business structure can be a sole proprietorship, partnership, limited liability partnership (LLP), or a private limited company. Each of these structures has its own set of legal and financial implications. The best CA can provide invaluable advice on the appropriate structure based on the business goals, size, and industry.

Once the structure is decided, CA firms can assist you with the registration process. They take care of all the necessary documentation and legal formalities. The CA firms ensure that all forms are filed and sent to the relevant authorities, such as the Ministry of Corporate Affairs (MCA) in India. This includes obtaining the Certificate of Incorporation, registering for Goods and Services Tax (GST), and securing other essential licenses and permits for your company’s uninterrupted functioning.

Financial Planning and Projections 

You cannot run a business without proper financial planning. What you invest, how you earn it back, and, again, how you put in more capital are all you need to understand to run a company. CA firms in Mumbai offer comprehensive financial planning services, including budgeting, forecasting, and cash flow management. These services help you understand your financial needs and set realistic financial goals. The firm even helps in creating detailed financial projections that can be crucial for securing funding from investors or financial institutions. These projections include profit and loss statements, cash flow statements, balance sheets, etc., which provide a clear picture of your business’s potential profitability and financial stability.

Compliance and Regulatory Assistance

Navigating the regulatory requirements is a daunting task for any new business, especially when laws are updated regularly. Non-compliance can result in huge fines and legal complications. Hiring a CA firm in Mumbai can help navigate all the complexities of compliance, which include maintaining proper books of accounts, filing periodic tax returns, and adhering to labor laws and corporate governance standards.

Tax Planning and Management

Effective tax planning and management can help you minimize your liabilities and increase your business’s profits. However, tax planning can be difficult to manage and can divert your focus from the core business activities. CA firms help take care of all your tax planning and management efficiently. The firm even ensures to assist you in timely filing your tax returns, GST, and other tax-saving investments.

Fundraising and Investment Advisory

Securing the right funding is often one of the biggest challenges for new companies. The best CA in Mumbai can guide you through the process of raising capital, whether through equity, debt, or a combination of both, and how to manage those with timely returns through proper financial planning. They also offer investment advisory services, helping your company make informed decisions about where and how to invest your funds for optimal growth and returns.

Financial Systems and Controls 

Implementing strong financial systems and controls that include setting up accounting software, developing internal control systems, and establishing financial policies and procedures can help your new company function smoothly. It even ensures accurate financial reporting, prevents fraud, and enhances operational efficiency.

When starting a new company, you need to have a strong base with all fundamentals in place to ensure that your focus remains on growing your business and fulfilling your client’s requirements. The best CA in Mumbai allows you to simplify the set-up process of a new company. They do not stop there. The CA firms in Mumbai even help you out later in planning and functioning your business. Shah and Doshi is a leading chartered accountant firm in Mumbai that serves you with all the disciplinary services needed to start a new company.

If you are looking to start a new company and are looking for the best CA in Mumbai, contact Shah and Doshi, chartered accountants in Mumbai.

About Shah and Doshi 

Shah and Doshi Chartered Accountants, top CA firms in Mumbai, assure you that we offer commitment, excellence, and a client-first approach to building your business. We offer a full suite of services, from business registration and financial planning to compliance, tax management, and investment advisory. Our experience delivers solutions to your business needs, ensuring you achieve your financial goals.