Introduction Of New Business

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 the 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.

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 structure is chosen. 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.

The amount of capital depends on the activity and its scale. It varies from small and medium-size businesses to wholesale and retail businesses. The best way to decide the appropriate amount is to first analyze the future expenses and requirements. Also, one has to fulfill the minimum requirement of capital based on the organization structure chosen.