Tax Planning and Compliance form the two most important components of effective business management. In order to channelize one’s plans and reduce legal liabilities, seeking a professional’s opinion is a must. Shiva Palaniappan is a 28 years old tax advisor and business consultant based in the city of Coimbatore, Tamil Nadu. He has an expertise of working in all legal Tax compliances for Start-ups and additionally guides passionate students and job goers to start their own brand and business.
Shiva’s work includes Trademark consulting and he ensures that his client’s Income tax files are prepared and the company taxes are filed. He is a Central Government Authorized Practitioner, GSTPA (GST Practitioners) bearing the License number “GSTP331800001028GPW”. He started his journey in the field of Tax preparation and consultancy soon after he graduated in the commerce stream from the Prestigious South Indian Institute, PSG College of Arts & Science in 2014. Shiva worked as an Assistant to Mr.ER. Rajaraman and Mr.K R.Raman at RAJA & RAMAN Chartered Accountants, Coimbatore.
The working environment and exposure in this firm opened the door for various opportunities for Shiva to learn about people, businesses and the professional front and moreover gave him the time to analyse his strengths and weaknesses.
His enthusiasm and team building virtue landed him a good position at the office which helped Shiva expand his work portfolio and engage in audits of various range of clients such as The Medical Pioneer, KMCH hospitals to Electronic Power Circuit suppliers, Jayachandran group of Companies, Coimbatore.
Shiva has additionally been a part of audit teams in export brands like Indian Products Limited which has the brand name “ONLY” selling spices and pepper and has an experience of working on assignments of Small Business Income tax preparation and GST compliances. Shiva states that since GST came into force, he realized the importance of SMEs in the country’s economic cycle as they contribute to more than fifty percent of the GDP. He also realised the struggle of Export Houses in compliances which motivated him to concentrate on solving this problem for SMEs. Shiva went on to establish his professional practice as a freelancer and gradually built his reputation in the market by word of mouth. Since then, he has established his own office in the heart of the city and has been working on advising clients on various professional grounds for over five years. He is also vested in guiding the younger generation establish their start-ups successfully by helping them in compliance and tax planning.
Having worked with start-ups since 2014, Shiva lays out the Triology for successfully running a Start-up in an attempt to help the youngsters. He states, the first step is to be precise about the working of the business model. He suggests building a vibrant and unique model in this competitive era, however states that if one is able to find viability in an already explored business model, creating a USP (unique selling point) for the customers is a must in order to differentiate the business.
The second part of this triology consists of selecting a team, a dedicated workforce. According to Shiva, hiring experts forms a part of the basic requirement for a new company to get its wheels moving as in his experience, 80% of the start-ups fail in the first three years of business only due to poor selection of team. He say us to remember “always 2 is better than 1”
The final part is to have control over the finances. Shiva believes that Finance is an integral part of business which needs attention from the very first day. He is of the opinion that even preplanning stages of start-ups require a strong financial structure as poor financial management turns even a profitable business to a loss-making one.
Shiva has additionally been a part of providing his professional services to renowned establishments like Tanishq showroom by TITAN, RS Puram, Coimbatore; L&T, Coimbatore; Venpaa media (P) Ltd, Chennai; PPS Cards, Coimbatore and Medvision medical trainers, Coimbatore.
Shiva always had a passion for public speaking & training, which made him teaming up with like-minded potential young professionals to train students from various Institutions and executives from corporates. Hence currently Shiva is Director for 2 Companies VENSTER SCHOOL OF EXCELLENCE PRIVATE LIMITED and VENSTER ADVISORY SERVICES PRIVATE LIMITED. To know more: http://www.shivapalaniappan.com