Why You Should Hire Interns For Your Startup By Athulya - December 26, 2018 Last Updated at: Oct 30, 2020 1248 Why you should hire interns for your startup The Finance Act, 2020 mentions quite a few tax benefits for startups registered with the Department for Promotion of Internal Trade and Industrial Policy (DPIIT). In one of these, the application fee to the trademark registry for a trademark in one class has been reduced by 50% for registered start-ups. Usually, such an application costs Rs 9000. One of the major problems faced by every start-up is the question of whom to recruit and how to get about it. When it comes to a startup, there is always a compulsion of recruiting with high potential at the lowest possible salary because of the low cash flow and the necessity to bring the company out to the market with a positive image. Every step taken by the start-up thereon is like walking on thin ice as the hiring process must be conducted with a balance of objectivity and subjectivity while choosing potential candidates. Register Your Startup Business For a startup to bloom its business it needs to remember one basic concept, ‘survival of the fittest’. The company with the best of best ideas to bring their products or services closer to their consumer group survives in the market. So to achieve a maximum coverage of the consumer group, we need to understand the needs and wants of the maximum population, which can be done by involving them directly in the business. That is why interns need to be involved in the team. This way the company gets a closure about how the maximum population actually behave as they have pretty much influence of all types of consumers and most of the time are the predominant part of the targeted consumer group. Now here are a few reasons as to why minors who are fresh from school or interns need to be hired in start-ups: Curious and Inquisitive: The founders/developers of a startup are often caught up with the idea of how to develop their business and make it far reaching. This develops a kind of stress in the adults and makes them focus only on the task at hand which makes their approach towards a certain issue monotonous. But in case a teenager is put in for the job, they are more attracted towards trying out new things and bringing out new ideas because of their curiosity. Their inquisitive nature makes them do more research and bring out more data for developing the quality of product or services. More updated: It is a crowded market out there with heavy competition among companies to bring in more profits. Teenagers are updated about the most recent developments in terms of technology, news and upgrades in the market. This way they will be able to analyse the pattern of changes and upgrades which could help the start-up to predict the next most wanted need of the target consumers. Creativity and innovation: As the rivals keep changing the pitch of the market, there arises a need for the company to look for new ideas for getting under the spotlight. Young minds have a lot of creative and innovative ideas that could make the products or services more attractive to the majority. Adults have a particular comfort zone that they like to stay within, due to the fear of failure but teenagers are ready to take the risk and bring out new and refreshing ideas. Cost effective: One of the best benefit of hiring minors will be the cost input. Since they require lesser salary than an adult employee, the work output is more than the money input which is a major advantage considering the low cash flow in a startup. At the same time, this way employers are also helping young minds gain more exposure. Division of labour: In a startup, the problem of managing expected and unexpected challenges is very tiresome. The developers/founders are mostly held up dealing with the bigger problems and let the seemingly smaller ones to slide due to inefficient time and resource management which later becomes a potential threat to the company. So when there is a division of labour allowing the teenagers to handle the smaller problems, the overall functioning of the company has a very high probability of being unaffected by such unexpected challenges. Malleable in nature: Youngsters are highly influenced by others and can be easily molded. Due to their lack of exposure and experience about the way the market operates, they can be molded to fit in the job as per the requirements of the hirer to a reasonable extent which in case of hiring an adult is difficult. Getting the work done from interns could be an easy task as they are always ready to learn and earn. Conclusion If you are starting a company remember students usually prefer working at startups because they are provided with better space for developing their skills set and understanding how the market works. On the other hand, the start-ups can use the teenagers’ fresh ideas for developing their company in the market. It is more of a Win-Win situation where both the startup company and the hired students are benefitted.