How to start a business in India
There are various platforms to bean entrepreneur in India like Private Limited Company, Public Limited Company,
Limited Liability Partnership, Sole Proprietorship Firm, Partnership,
E-commerce business, and now One Person Company as well.
One needs to be clear about thefollowing things in order to start a business in India:-
Business Idea
Research
Make your Business Plan
Register and make it Legal
Various platforms to start yourbusiness in India:-
Private Limited Company :-
A Private Limited Company in the eyes of the law is regarded as aseparate legal entity from its founders. It has shareholders (stakeholders) and
directors (company officers). Each individual is regarded as an employee of the
company.
Public Limited Company :-
The Public limited company inIndia is a voluntary association of members which has a separate legal
existence and the liability of whose members is limited. A Public Limited
Company can either be an unlisted Company or listed Company on the Stock
Exchange. Public Limited Company also enjoys wide options to raise funds
through bank loans, the general public, and Institutional investors.
Limited Liability Partnership(LLP) Company :-
A separate legal entity, in anLLP the liabilities of partners are only limited only to their agreed
contribution.
Sole proprietorship firm :-
A Sole proprietorship is a formof business entity where a single individual handles the entire business
organization. He is the sole recipient of all profits and bearer of all loses.
There is no separate law that governs sole proprietorship.
Partnership :-
Partnership registration is abusiness structure in which two or more individuals manage and operate a
business in accordance with the terms and objectives set out in the Partnership
Deed. It is owned, managed and controlled by an Association of People for
profit. Partnership firms are relatively easy to start are is prevalent amongst
small and medium-sized businesses in the unorganized sectors.
E-Commerce Business :-
Starting an e-commerce store is adream for many aspiring entrepreneurs. Also with enormous growth of e-commerce
players in India and thanks to Internet connectivity, it is also an easy choice
for Indian youth. Business registration is the first step towards your dream of
setting up an online store. For registering your business, you need to decide
which type of entity you should form.
One Person Company :-
OPC or One Person Company is oneof the easiest forms of corporate entities to manage. OPC is a hybrid of
Sole-Proprietorship and Corporate form of business. It has been provided with
concessions in compliance requirements under the Companies Act. It is a form of
a company where the compliance requirements are lesser than a private company.
Various benefits of starting abusiness in India :-
No minimum capital requirement
Separate legal entity
Limited liability
Minimum compliances.
Builds credibility
Various tax benefits
Fund raising
Let EbizFiling experts help youchoose a right form of business. Get in touch now.
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