How do you start a new business in India

How do you start a new business in India?

Are you confused in choosing suitable business structure? As per your business requirement, you can shoot below categorised formation model:

Company :  

Companies is the most common and suitable form of entity for carrying out business in India with a long term objective. A Limited Company is Incorporated and Governed by the Indian Companies Act 2013. A Limited Company is a Purely Separate Legal entity distinct from its members and directors. The business under this structure can be done by making investment through the equity shares in the Company. It has the advantage of limited liability, greater stability and recognition.

Partnership Firm: 

The Partnership Firm will be Registered at state level or incorporate without register, only prepare a partnership deed and firm pan card. One other type of partnership firm –LLP (Limited Liability Partnership) will be registered on National Level with limited liability under Ministry of Corporate Affair, Government of India.

NGO :

Non-Government Organisation has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.

A Society will be registered under Society Registration Act at state level  or Trust will be registered under Trust Act at state level jurisdiction and also Co-operative society will be registered as ngo at state for work under all over india.

Section 8 Company will be registered under Companies Act, 2013 at Ministry of Corporate Affair on India for promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.

Proprietorship Firm:

A sole proprietorship ie. One Person formatted company or firm, also known as the sole small businesses operator or sole trader, that is owned and run by one natural person and no legal distinction between the person and the business. Its will be registered at state under jurisdiction.

One Person Company also known as OPC Private Company, its will be registered under Companies Act, 2013 like private company and a company is separate legal distinct entity form its member or director.

Finance Company:

A company core business is providing money or borrowing and lending money to manufacturing or holding company or between their members or to corporations for commercial use. A finance company does not accept deposits from the public.