When do you think about starting a business?
Yes. You start thinking about success and dreaming about being at the top of the world. But then you realize how daunting it can be to start a business. You stop dreaming and stressing about the legal and technical requirements to start a business in India.
So don’t need to worry anymore.
Why?
We are here to explain to you all the legal requirements to start a business registration in India. You start dreaming again.
Here this blog will take you through all the things that you need to take care of when you start your business.
First Requirement: Business Entity Registration
What is a Business Entity?
Business Entity means a corporation, association, partnership firm, private limited company, limited liability company, sole proprietorship, one person company, or public limited company.
The process of business registration is common for all types of business entities except sole proprietorship and partnership firms. Our experts will help you and they are well versed in the business registration process.
Second Requirement: Agreement Creation
There is a saying “A verbal contract is not worth the paper it’s written on”.
Drafting an agreement is a crucial issue as it explains your business idea in a realistic way.
Does your business tackle the crucial issues you want to tackle? Will it make a profit? What will be its mission, vision, or goal?
By drawing an agreement, it’s going to ensure that there are no issues if one of the partners is not satisfied with the direction of the company. By entering into an agreement, the founder will have a vision for the business.
Third Requirement: Get all the Legal Registrations & Licenses
Once you have established the company and drafted the agreement, you need the authorization to do business.
The authorization comes in the form of legal documents to start a business in India, which come in the form of legal licenses and registrations. There are some general licenses & specialized registrations required for a certain type of business.
General Registrations:
- GST Registration
- Bank Account Opening
Specialized Registrations:
- Shop & Establishment License: License for physical premises to set up shops.
- IEC Code: To start with the import and export of a business.
- FSSAI License: To start a food business
- ISO Certification: For quality check
Other Licenses for other types of business are required like APEDA License, Signage License Kosher Registration, etc.
Fourth Requirement: Trademark Registration
With the growth of your business, the goodwill will also grow and the value of your trademark will also increase. To prevent someone from stealing your trademark, you should register it.
Although it is not necessary to register your trademark, it is just one of the recommended legal requirements for starting an online business in India. If you are registering your trademark, you can protect your brand from infringement.
Fifth Requirement: Accounting and Taxation System
Busy doing business? Slip from your mind: Income tax returns and other accounting compliances. All these are quite essential to grow your business legally. Filing returns, auditing and accounting documents can be quite daunting.
Therefore, our business experts like JustStart are there for you so that you can avail them and leave all the accounting and tax paper work to them and you can only focus on your dream business.
Sixth Requirement: Business policy
Business policy is always a good idea to revisit those policies you already created in the foundation agreement.
Create a proper business strategy that you can enforce properly. It will keep your organisation systematic, and the employees focused, and you will be able to reach your company’s targeted growth on time.
Conclusion
In India, starting a business can be daunting, especially with all the legal requirements that you have to follow while starting a business registration. JustStart team will help you with proper guidance and support.
Why worry about getting started with a Business Registration Entity? Just connect with JustStart and start dreaming of being on top of the world. We are always happy to serve our clients with all proper guidance.
