The cofounders of a New Delhi based online men’s apparel startup, Ashish Gurnani and Aashray Thatai, are on a tear. The duo had founded the business two years ago seeing its customer base grow by 20 per cent each month.
The company is also preparing to extend their brand beyond the apparel and also into the accessories. For the duo — college mates, cofounders and soon to be brothers-in-law (Gurnani is marrying Thatai’s sister) — business was going swimmingly.
The duo just like any other startups are not only worried about managing the warp-speed growth rather they are trying to spend inordinate amount of time keeping the pace with the fastly changing regulatory landscape. The companies and the small startups are trying to carve the small niches thereby finding themselves in the confounding maze of the proposed laws and the regulations.
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Since the large companies are much more worried about the various provisions in the draft law and the other entrepreneurs right from the cryptocurrency to the online pharma which are concerned that the wave of legislation. “It is certainly important for governments and regulators to walk the fine line between regulating effectively and being regressive in policy,” says Priyanka Roy, founder of Sarqua Law in Mumbai.
“Startups like us spend a lot of time figuring out what can be done and what can’t,” says Gurnani of Postfold. “For a young company, this can be a time-consuming and costly affair.” For founders like him, allocating and prioritising resources in such a state of regulatory flux is proving challenging.
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