BUSINESS SETUP
Setting up a business in India.
Setting up a business is the first step to fulfill your dream of being an entrepreneur. To make this dream a reality, you have to first establish it in eyes of law. Every business structure in India derives from different characters and is beneficial for different business activities. Therefore, the first thing you do is to plan and discuss your business requirements with our experts and end upon the suitable business structure for you. The popular business structures in India are Proprietorship firm and Partnership firm with corporate entities like Private Limited Company, OPC and Limited Liability Partnership, each serving varied needs of the businesses.
Private Limited Company
A Private Limited Company is a corporate structure preferred by start-ups and entrepreneurs in India. This ensures limited liability of owners and numerous options for funding.
Limited Liability Partnership
An LLP is the hybrid structure of a Private Company and a Partnership Firm. It is best suitable for services including professional consultancy apart from small and medium scale businesses.
Partnership Firm
It is a partnership when two or more person come together for profit from a business. This structure is best suitable for small and medium scale businesses with an additional benefit of lower compliances.
Sole Proprietorship Firm
Proprietorship firm is the most popular business structure to start a business in India, but it is an unorganized structure. Most of the entrepreneurs start their business journey…
LICENSSES & REGISTRATION
Digital Singature Certificate
A Private Limited Company is a corporate structure preferred by start-ups and entrepreneurs in India. This ensures limited liability of owners and numerous options for funding.
Udyam Certificate
A Private Limited Company is a corporate structure preferred by start-ups and entrepreneurs in India. This ensures limited liability of owners and numerous options for funding.
MSME Registration
An LLP is the hybrid structure of a Private Company and a Partnership Firm. It is best suitable for services including professional consultancy apart from small and medium scale businesses.
ISO Certification
It is a partnership when two or more person come together for profit from a business. This structure is best suitable for small and medium scale businesses with an additional benefit of lower compliances.
FSSAI (Food License)
It is a partnership when two or more person come together for profit from a business. This structure is best suitable for small and medium scale businesses with an additional benefit of lower compliances.
IEC (Import/Export code)
Proprietorship firm is the most popular business structure to start a business in India, but it is an unorganized structure. Most of the entrepreneurs start their business journey…
Spice Board Registraton
A Private Limited Company is a corporate structure preferred by start-ups and entrepreneurs in India. This ensures limited liability of owners and numerous options for funding.
FIEO Registration
A Private Limited Company is a corporate structure preferred by start-ups and entrepreneurs in India. This ensures limited liability of owners and numerous options for funding.
Professional Tax
An LLP is the hybrid structure of a Private Company and a Partnership Firm. It is best suitable for services including professional consultancy apart from small and medium scale businesses.
RCMC Registration
It is a partnership when two or more person come together for profit from a business. This structure is best suitable for small and medium scale businesses with an additional benefit of lower compliances.
FAQ
To register a business in India, the promoters or owners are required to finalize their business activities and capital requirements first. Based on aspects such as the association of partnership, fund requirements, types of activities, etc. the appropriate business strucutre is chosen.
To choose the right business structure, the first aspect is to decide if there is any business partner or not. Sole Proprietorship and OPC are for those who wish to be sole owners whereas other structures can be established with partners. Second thing is to decide about the capital requirement. For businesses with more capital requirement, corporate structures are beneficial. Apart from all other pre-registration aspects, one must not miss considering the post-registration aspects, tax liabilities, and compliance matters.
Yes, registration of the business entity is a primary requirement to establish the business and get legally recognized in the eyes of law. For a proprietorship firm, registration is not mandatory but preferable owing to registration benefits and the requirement of opening a business account in banks.