Customer Stories
HR & Tax Setup for a Fast-Growing EdTech Startup
Challenges Faced by LearnGrid BD Ltd.
As LearnGrid embarked on an expansion into three cities, they faced several operational challenges that were hindering their growth:
- Lack of Structured HR Policies and Employee Contracts
- Rapid Hiring Needed to Support Expansion
- Poor Financial Tracking, Leading to Income/Expense Mix-ups
- No VAT Registration or Accounting Compliance
- Desire to Claim IT-Based Service Cash Incentive
These issues created a roadblock for LearnGrid as they sought to scale efficiently while maintaining compliance.
How FounderSheba Helped:
FounderSheba provided a comprehensive set of solutions to address LearnGrid’s challenges and set the stage for rapid growth. Here’s how we did it:
1. HR & Operations Setup
Building a Robust HR Framework for Scalable Growth
- Developed Full HR Policies: Created employee contracts, offer letter templates, NDAs, and a comprehensive leave policy.
- Implemented Onboarding & Engagement Systems: Streamlined processes to ensure smooth team integration.
- KPI Structure for Content Creators & Teachers: Designed performance metrics to align teaching quality with business goals.
2. Recruitment Drive
Scaling the Team to Meet Growing Demands
- Hired 20+ Part-time Instructors & 2 Operations Leads in 45 Days: Successfully managed large-scale recruitment in a short time frame.
- Designed Role-based Assessments for Academic Coordinators: Ensured that new hires were fully aligned with organizational needs.
3. Accounting & Tax Setup
Establishing Compliance and Financial Transparency
- VAT & BIN Registration: Registered LearnGrid for VAT and set up the required Business Identification Number (BIN) for tax compliance.
- Launched Monthly Accounts Service: Set up systems for detailed expense tracking and monthly reports to ensure accurate financial management.
- Prepared for Annual Audit & RJSC Compliance: Ensured all accounting processes were in place for future audits and regulatory filings.
4. Cash Incentive Preparation
Securing IT Export Incentives to Boost Financials
- Classified Services Under ITES: Properly classified LearnGrid’s services as IT-enabled services (ITES) for cash incentive eligibility.
- Filed Initial Documentation: Prepared all required paperwork and guided the export revenue routing process.
- Applied for Cash Incentive Claim: Successfully filed for a cash incentive claim based on their course export revenue.
Results Achieved Within 3 Months:
- Compliant, Documented HR System: LearnGrid now has a fully structured HR system to support team growth.
- Smooth Onboarding & Contracts for 30+ Employees: Efficiently managed the hiring process and ensured all employees were onboarded with clear contracts.
- Claimed Cash Incentive Worth BDT 2.6 Lakh: Successfully secured a substantial financial incentive.
- Investor-Ready for the Next Funding Round: LearnGrid is now fully compliant and prepared for the next stage of investment.
Client Words:
“FounderSheba gave us the structure we badly needed. Now we can scale without fearing audits or employee issues.”
— Fahim Arefin, Co-founder, LearnGrid BD Ltd.
— Fahim Arefin, Co-founder, LearnGrid BD Ltd.
Key Takeaways:
By setting up a comprehensive HR and financial system, FounderSheba helped LearnGrid resolve operational bottlenecks, secure a cash incentive, and become investor-ready. The result? A solid foundation for growth and a roadmap for scaling the business without compliance worries.
By setting up a comprehensive HR and financial system, FounderSheba helped LearnGrid resolve operational bottlenecks, secure a cash incentive, and become investor-ready. The result? A solid foundation for growth and a roadmap for scaling the business without compliance worries.
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Scaling HR & Compliance for a Fast-Growing Tech Startup
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