BUSINESS STARTUPAs an entrepreneur looking to expand into a new business, there are many financial factors you must consider to ensure the success of your new venture.
For clients looking to start a business, you must decide what form of business entity your new venture will be. Choosing and setting up the form of entity your business will be is one of the most important business decisions you will make in the beginning.
As an entrepreneur looking to expand into a new business, there are many financial factors you must consider to ensure the success of your new venture.
For clients looking to start a business, you must decide what form of business entity your new venture will be. Choosing and setting up the form of entity your business will be is one of the most important business decisions you will make in the beginning.
HERE IS WHAT WE CAN DO TO HELP GET YOUR BUSINESS STARTED:
- Don James/Semplice – Article and News research
- Selecting the right form of entity viz proprietorship, partnership, company, LLP, etc.
- Documentation to float the entity
- Drafting of partnership deed/ LLP agreement/ drafting of MOA/ AOA etc
- Application for Digital Signature Certificate (DSC)
- Application for DIN/ DPIN
- Application for availability of name
- Filing of other relevant forms
- Registration with the statutory authorities
- Registrar of Companies / Firms
- PAN
- GST
- Professional Tax
- Import Export Code (IEC)
- TAN
- Accounting of per-incorporation transactions
PRIVATE LIMITED COMPANY
Setting up a Private Company in India is the most common way of starting a business; Most foreign Companies start business in India in the form of a Private Company. These Companies are very closely held companies and the shareholding is with very few people. Hence these Companies are called Private Limited Companies.
DIRECTORSHIP
Private Company setup in India requires a Minimum of 2 Directors. The Directors of the Company shall be Individual. Hence One Company Can Not be a director of another Company. Every Person appointed as Director or Prospective Director shall have a Directors Identification Number i.e. DIN Number. A person Not having a DIN Number can never be appointed as a director in an Indian Company. The process of Company setup is Online hence the director shall have DSC i.e. Digital Signature Certificate as all the forms are digitally signed.
DIRECTORS PRESENCE
To Register the Company the Director’s presence is not required in India, the Company can be set up without the directors present in India. Proper required documents shall be available in Original with us.
SHAREHOLDER
The Private Company setup in India requires a minimum of 2 Shareholders and a Maximum of 50 Shareholders excluding the Employees and Relatives of the Company. All types of people can become shareholders i.e. Individuals, firms, AOP, Other Companies, etc. One Company can hold all the shares of another Company and can float a 100% Subsidiary. But to satisfy the Condition of 2 Shareholders at least 1 Share Shall be given to another person.
SHARE CAPITAL
Every Company starting a business requires Share Capital, As per the Indian Companies Act the Private Company Can be incorporated with a Minimum Share Capital of INR 100000/- there is no maximum Cap on Share Capital. The Share Capital shall be introduced by the shareholders in 180 Days into the Companies Bank Account. The Decision on Share Capital shall be taken after proper planning as the Government fees depend on the Share capital of the Company.
- Partnership Registration
- Import and Export Code
- GST Registration
- Shop & Establishment Services
- GST Filing
How to Start a Startup9 Steps to Help You Start a Startup
If you’ve never started a business, the first time can be a little scary. Especially because it takes a lot of hard work and planning. On top of this, only about half of all businesses survive five years or longer.1
Luckily, there are 9 basic strategies for startups you can follow to help get your company up and running:
1. Start with a Great Idea
Your first step in learning how to start a business is to identify a problem and solution. This is because successful startups begin from business ideas that fill the needs of a group of customers.
2. Make a Business Plan
Once you have an idea, you’ll want to start building a business plan that describes your products and services in detail. It should include information on your industry, operations, finances and a market analysis.
3. Secure Funding for Your Startup
The cost of a startup is different for every business owner. However, no matter what your costs are, you’ll likely need to get startup financing.
4. Surround Yourself With the Right People
There can be a lot of risk in starting a business. That’s why you’ll need essential business advisors to help guide you along the way.
5. Make Sure You’re Following All the Legal Steps
From designing your product to setting up your workplace, opening your dream startup can be a lot of fun. But before you officially enter the market, you’ll want to take the right legal steps to give you the best chance at success.
6. Establish a Location (Physical and Online)
Whether you need to establish a manufacturing facility, set up an office space, or open a storefront. As well as in today’s digital era, it’s important to set up an online presence and e-commerce platform.
7. Develop a Marketing Plan
Every startup needs to spend different amounts of money and time on marketing. It’s an important expense because it helps you.
8. Build a Customer Base
In order for your startup business to have long-term success, you’ll want to build a customer base.
9. Plan to Change
Startups change drastically within their first few years in operation. A key to success is to evolve and adapt your business model to your market and industry.