Journey of Young Entrepreneurs: Mr. Sandeep Bisht & Mr. Tushar Walecha

Sandeep Bisht is a post graduate with a specialization in Banking and Finance. He is on the board of various companies and National Chamber. He is the Director of Chamber of Indian Micro Small & Medium Enterprises (CIMSME), Indian MSME Helpline Private Limited and Gyan Shree Industrial Consultants Private Limited.

He has addressed various conferences and seminars on various topics. He delivered sessions on Demonitization to Senior Citizens, Industry workers, Slum Areas, Banks and Financial Institutions. He attended various meeting of core committee of Government related to change in Policy like “Change in Financial Year”, “Review of CLCSS Scheme”, “SME Exchange” etc

His articles were published in Times of India, Economic Times, Nav Bharat Times, Dainik Jagran, SME World etc. He can be frequently seen at various TV Channels like Lok Sabha TV, Rajya Sabha TV, ZEE Business, News World India etc.

Tushar Walecha is graduate with specialization in Taxation and Finance. He is founder of TW Consultancy Services, dealing in Taxation & Finance and serving its clients from past 3 years.

He has delivered many sessions related to GST for the benefit of MSMEs (Micro, Small and Medium Enterprises). He is always interested in taking active participation in seminars for addressing the issues related to GST & Finance.

With a bourne appetite for risk, they took a bold step to start Filing Samadhan. It is a Fintech based firm start-up www.filingsamadhan.com for the providing Taxation & Finance related services across the India.

Questionnaire Interview Of Mr. Sandeep Bisht

1. Can you tell about key features of your startup?

“Filing Samadhan” is a Delhi based startup conceived, with an aim to provide Financial, Legal, Taxation and other type of consultancy services under single window, at affordable and most competitive price pan India. Filing Samadhan believes in Inclusive Growth i.e. “Sabka Sath Sabka Vikas”,and  currently providing handholding support to  Entrepreneurs, Mentoring the existing and prospective entrepreneurs, Providing Legal support, assisting them in getting their payment on time i.e. solution to the Delayed Payment, extending financial literacy, solutions related to Income Tax and GST issues coupled with assisting  clients in preparing  Project Reports and arranging Loan as per their financial needs.

2. Please tell about your industry and opportunities for SMEs within this sector?

We are a Fintech Start-up serving  customers pan  India.  Filing Samadhan is here to assist  MSMEs in all the possible ways. MSMEs can avail the services of Filing Samadhan for the followings:-

1. Consulting on choosing the right business entity like proprietorship, partnership, OPC, LLP, Private Limited Company, Limited Company, Society, Trust etc.
2. Getting registrations necessary for business

• filing Statutory returns like TDS Return, GST Return, Income Tax Return

1. Accounting and Documentation Services
2. Preparation of project report
3. Consultancy on getting timely payments from debtors

• Promotion of Government Schemes
• Arrangement of finance as per their need and requirement

1. Protecting their Brand name or trade under Intellectual Property Rights
2. Legal services

3.How the thought of starting your own enterprise did come in your mind? What encouraged you?

Coming from a middle class family I have seen Entrepreneurs since my childhood. I always wanted to be the Job Creator rather than Job Seeker. I joined a Consultancy firm in 2012 as a trainee and reached the level of Director in just 6 years. I had a very wide and varied exposure in that company. It was really a very tough call to resign from the job without any future plan and start own business. However, I am confident on myself. Since in these 6 years I have seen India’s top Corporates and MSMEs as well, their business culture. I observed that the Corporate Culture adopted by the Large Corporates is not followed by the MSMEs. Many MSMEs are not Discipline and Focused as the Large Corporates are.

Further, we have observed that many MSMEs especially Micro units and Start-up are working with very limited resources. The main problem faced by the MSMEs is Delayed Payment by Large Corporates, which blocks major portion of working capital of the MSMEs. This is the major reason of failure of the Major Start-ups and MSMEs.

Further, timely and adequate finance is another issue faced by the MSMEs.Considering the above challenges faced by the MSMEs and to educate, support and providing handholding support to MSMEs pan India at a very affordable price, Filing Samadhan is Formed.

4.What is the biggest challenge you faced as an entrepreneur while establishing your startup?

I always believe in Quality rather than Quantity and always try to complete the assignment on given time. The biggest challenge while establishing Filing Samadhan is to find my co-founder. One fine day I called my old friend Tushar and pitch my idea to him. Tushar immediately agreed to it and on the very same day we met and finalise the formalities.

Further, we think to be a good Entrepreneur, one to unite the best team of professionals. I and Tushar feel ourselves lucky that we are able to unite the best people in our team as advisor, team and mentor.

However, in today’s competitive era, Marketing is must to reach with your prospective clients. We faced lots of challenges in Marketing due to our budget constraints; somehow, we were able to manage the same and able to meet out our break even atleast from the very first month.

5. Who all are your competitors the market? 

In my opinion, we ourselves are the competitor. As we believed in our services and our team of professional who focused on Quality rather than Quantity. We always try to improve ourselves then yesterday.

6. What are the key trends are you observing in the market?

As per our research, Start-Up is in trend. However, 80% startups are not able to survive. We as Filing Samadhan will provide the Start-ups to handholding support and get them educated. We are providing the mentoring services to the Start-Up. As per our analysis, we will be able to support more than 10% startup since very inception i.e. advising them to form right business entity like proprietorship, partnership, OPC, LLP, Private Limited Company, Limited Company, Society, Trust etc., assisting them in getting necessary registrations for business, filing Statutory return, Preparing project report, arranging finance as per their need and requirement, legal services, getting their payments from the debtors on time etc. As we know that Start-up has a very limited resources and they can’t hire the separate professionals for every services. Our motto is provide best services from the experts under one roof.

7. What are your expansion plans in near future?

Currently Filing Samadhan is serving to its customers from its head office situated at Delhi and Branch Offices at Uttarakhand, Uttar Pradesh, Chandigarh, Kerala, Pune and Bangalore. As you are aware that the Middle East countries like Oman, Qutar, Saudi are implementing VAT from 2019. We are exploring the opportunities to go international and serve to the Middle East Countries also.

8. Can you share few lines of business priorities for next 1 year?

Our business priorities are to establish our office at every State of the Country. Apart from that we are trying to go globally and want to explore the Global Business Opportunities. We want to generate more than 1000 employment in next one year.

9. What type of reactions you have received?

We have received very positive reactions from the market. People have shown trust on us and luckily we are able to serve our customers beyond their expectations.

10. What are the initial investments made in the company?

We are the Fintech based Startup, hence the major cost is divided into Technology as well as marketing.

11. What is your marketing strategy?

We as Filing Samadhan, believed in word of mouth publicity. If we focus on our quality, people themselves will become our Marketing agents without any salary. However, to remain competitive and be the leader in the market, we have opted Digital Marketing. We joined the various programs particularly focusing on MSMEs as knowledge partner.