Apart from Big Four firm jobs and owning a CA consultation firm, chartered accountants have opportunities in the start-up space. Many Indian companies are successful in the start-up business because of the availability of venture capital and innovative ideas of educated professionals. The blog intrigues readers with information on the responsibilities and proven track record of chartered accountants in start-up companies.
Responsibilities:
Chartered accountants get jobs in start-up companies. Chartered accountants know regulations and investments. The difference between a start-up and a big firm is the structured environment and diverse knowledge. Venture capitalists fund the start-up companies. Chartered accountants can work in Agro-tech start-ups and fin-tech Start-up Companies. The role of a chartered accountant in aggrotech start-up would be understood with the following points:
- Chartered accountants prepare strategies that suit the growth plans and objectives of the company.
- Chartered accountants forecast the long-term goals and implement the annual budget plans.
- Check the compliances from the national and international levels. He is the point of contact for the shareholders, investors, and financial institutions.
- Chartered accountants ensure safety and transparency. He takes care of data security and asset management.
- He addresses the inquiries and maintains a strong relationship with external investors.
- He prepares the financial reports, communications and investor presentations.
- He thinks about the trends, risks, opportunities, and actionable insights that can be used to improve the business’s growth.
- Chartered accountants monitor the financial performance, and recommend actions.
- He insists on accuracy and timely delivery.
- Chartered accountants manage cash flow, working capital, funding and operational efficiency.
- Chartered accountants coordinate the financial activities with business units.
In a fin-tech start-up, a chartered accountant would be positioned with the following responsibilities:
- Prepare and review the journal entries.
- Chartered accountants check the automation process of reconciliations and loans.
- Chartered accountants prepare the audit schedules. 4He prepares the RBI forms.
- The chartered accountant does the financial reporting of new products and transactions.
- The chartered accountant takes care of statutory, tax and internal audits.
- The chartered accountant takes care of the fund flow management and liquidity status.
Start-up companies founded by CAs:
Chartered accountants not only tap the accounting and auditing-related businesses, but they are successful in the marketing, human resource management, travel portal and investment services. Some of the notable start-up companies with high profits founded by chartered accountants are listed below.
ClearTax: Archit Gupta founded ClearTax. The company started operations in 2011. He is a chartered accountant from India. The company offers investment and digital tax filing services.
Freshbooks: Freshbook is an accounting software company with cloud-based technology backup. The company was founded by a Canadian CA. Mike McDerment founded Freshbooks in 2011.
Yatra online
Yatra Online was founded by CA Dhruv Shringi. Yatra Online is crossing 16 years by this year. The company is popular in online travel guides across the world. CA Dhruv Shringi started the company in Gurugram. He turned his professional skills into commercial skills by making the start-up company successful. The company’s reported revenue for 2024 is INR 1,072.8 million.
Make My Trip
The CEO of this Indian company is CA Rajesh Magow. He is the independent director of Flipkart. He made Indians proud with an innovative start-up. The current annual revenue of the company is $0.783B. As a professional chartered accountant, he changed the Indian business climate. He transformed the way travel information is delivered in India.
Yearbook Canvas and Marwari Catalysts
CA Devesh Rakhecha started this new venture. The company offers Yearbooks and memes in digital and book format. It is a data and self-publishing company. The company prepare yearly memories of schools, colleges, educational institutions and universities as a yearbook. The book provides the pictures, visuals and stories that connect the people and the time. The company also offers testimonials, images, and quotes of individuals and groups associated with the educational institutions. The start-up company has around 250 plus and A+ institutes as clients. The clients of the Yearbook include the following popular names: IITs, IIMs, ISB, XLRI, IAS Academy, FMS Delhi, Royal Canin, Capgemini, Symbiosis Institute of Business Management, BITS, and INSEAD.
360 Ad Venture Media
CA Abhay Saboo started 360 Ad Venture Media. The company is a marketing company. The company has big clients like Samsung and Dream11. CA Abhay Saboo is a chartered accountant bringing changes in the marketing acumen.
cajobportal.com
The founder of the business is CA Sonia Singal. The portal offers recruitment exclusively for chartered accountants. Chartered accountants exploring the human resource requirement influence the corporate world. Supplying efficient professionals to companies has dual benefits.
Qualities required for an entrepreneur:
- An entrepreneur must have a 360-degree view of financial management in the business.
- The professionals should balance growth and profit. Profit is tied to numbers and money. Growth has multiple perspectives. A chartered accountant has the skills to balance growth and profit.
- In start-up companies, the practical knowledge of the professional plays a crucial role. Entrepreneurs should get their hands dirty and execute their ideas.
- Managing investors from foreign countries and multinational countries is essential for a start-up entrepreneur. Managing investors from different countries is a challenging task.
- Compliance knowledge is essential to understand industry-specific laws.
- Technical knowledge is essential for a chartered accountant working in the start-up space.
Final Words:
Chartered accountants have a proven track record in the start-up economy. Chartered accountants are successful in the business world with marketing management, human resource management, and travel, fin-tech, and aggrotech ideas. Start-up companies are showing Indian talents to the global market.
