1. How can I start a small business in India?
Starting a business in India is possible if you have an idea that you believe in, along with some strategic planning in place. Knowing the demand of the product in the market, the ways to publicize your business, and owning an effective website that can enhance the visibility of your business are some of the steps to follow for setting up business in India. And also remember to complete the business and tax registration as these are the essential building blocks of a company.
2. What is the first thing to do when starting a business in India?
The first necessary step is to decide on the type of liability that you would want your company to offer to the members. The most preferred form of company in India is a private limited company as it allows both the owners and the shareholders to enjoy several benefits. The other options available include an unlimited liability, limited liability, or a public limited liability company.
3. What are the steps in selecting a company name in India?
The first step is to select a name for your company that does not resemble any other business name operating in India. You can submit your application online to the RoC through the eForm1 A, after you attach a digital signature to the form and pay a fee of INR 500.
4. What is needed to set up a company?
You can set up a company by following certain guidelines, such as appointing at least one Director and one shareholder, and by submitting the required documents online.
5. Is it worth setting up a limited company?
Registering a limited company comes with a pool of benefits. It allows your company to borrow funds from banks, attract shareholders, and function as a separate legal entity. It also makes the customers feel secure in carrying transactions with your organization.