Have you heard about bewakoof.com, lenskart.com, flipkart.com, ola? These are one of the most successful startups in India. What do they have in common: an engineering brain or think outside the box mentality? According to the NASSCOM report, India will be home to 10500 startups till 2020. Till now most of the start-ups are headed by engineering or an MBA student. Where are we?
As Mr.Ratan Tata said: I need MBA’s to run my business but I need CA’s to teach MBA’s how to run the business. This line made us really proud but it made me think that if we can teach how to run the business then why can’t we create our own business? Why are we not in the crowd of start-ups? Do we lack in knowledge? No. Do we lack in hard work? Not at all. Do we have the superiority complex? Not even that. Then what’s the reason we are behind this crowd? Our CA course teaches all the things which are required to run a successful startup like creating a cost-friendly budget to driving the process improvement in the organization. We are the students who can utilize the amount of stipend very properly and we are also the students who can help in project financing. We possess all the qualities an emerging entrepreneur should have. We, the CA’s helps to incorporate the startups, help them in legal matters, advice them about ROI, Cost of capital, use of proper financial tools but we do not think about creating our own start-ups.
We think our scope is limited only up to audit, tax, accounting and some other financial work. Every student is like- dedication ke Sath articleship karunga finals pass karunga and ek ache MNC me job nahi toh khudka firm kholunga. Bass that’s it....we don’t want to leave this comfort zone. Practice is also like start-ups itself but where is the creativity? I mean we will just follow the traditional way – job or practice. Why can’t we think outside the box? " Sabse bada Rog kya kahenge log", maybe these lines fully express our condition. People will say itna acha job chhodke kya ye start-ups ke piche pada hai. Dad ka acha settled firm hain to bhi pagalpanti karra hai. Iski jagah main hota toh aram se firm sambhalta. These are some things which stop us from taking a risk or choosing a new path by leaving the traditional one. Maybe lots of students have some innovative ideas in their mind but somehow they don't work over it and continue the routine of our course.
But some CA’s have extended this scope to the new level and entered in the world of start-ups. Though the number is quite low but still it’s a positive sign. Why to provide only advisory to C-suite when you can yourself be one of them? ‘Wicked ride’- a zoom car of bike startup proved that CA’s can also be innovative. Addition to this, Dreamwallets, lifcare are some of the start-ups founded by Chartered Accountants.
At last let’s see how much we innovate our self, how much we step out of our barriers and take a step towards converting our idea into a reality. Need of our profession today is to encourage the innovation & help the nation.