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I want to register my business in form of a Private Limited Company? What is the fastest way to get started?
Ministry of Corporate Affairs (MCA) from 2017 has initiated a fast track registration procedure called Simplified Proforma for incorporation of Company Electronically (SPICe). SPICe enables a single form application for the process of company registration. The normal registration route can take up to thirty days but if SPICe is followed the whole process can be closed within 7 days.
Entrepreneurly.in aims at rendering premium services and delivering it in a speedy manner. The incorporation services shall be delivered following the best and fastest route.
What registrations typically apply to startups?
Depending upon the nature of product or service rendered by the organization following one-time government registration is required to start business operations:
Providing Services in India or Selling Goods: GST
Trading in or Selling Edible Goods: FSSAI
Manufacturing Goods: Excise (IEC)
Goods Exports & Imports: Customs (IEC)
Note: With effect from 1st April, 2017, Goods & Service Tax (GST) will phase out most indirect state and central imposed taxes like VAT (Value Added Tax), service tax, excise etc.
What are the various options to raise funds?
Funds form backbone of a business. Options used during procurement of funds can affect the capital structure, decision making power concentration etc. The various options include:
Bootstrapping simply means using own savings or funds borrowed from family and friends.
Crowdfunding includes taking a loan, pre-order, contribution or investments from many persons at the same time.
Loans from financial institutions like banks, NBFCs etc.
Angel Investors and Venture Capitalist’s investment
IPO (Initial Public Offer) to issue shares to public
How can Entrepreneurly.in help me become investment ready?
Investors invest based on project prospects in terms of feasibility, expected ROI (Return On Investments), commercial viability etc. The credentials help instill confidence in the investors.
WE can assist you for your fund procurement by:
Preparing templates for pitching to prospective investors.
Drafting projected financial statements like P&L, Balance Sheet, and Cash Flow statements etc. and issuing project reports
Providing assistance in assessing short and long term fund requirements and deciding the capital structure.
Innovative Product Patent registration and getting protection of the intellectual property rights.
I want to start a business in application development. What registrations should I apply for?
Apart from completing your GST registration, you must also consider protecting your product by registering a trademark for your brand. Also, if you are building any proprietary software or any intellectual property, you must secure a copyright. Our experts can assist you with these registrations.
I need to raise capital from external sources. I am considering approaching Investors. Do i get any advantage on getting incorporated as a private limited company over other structures?
The capital structure of a private limited company is well equipped to easily accommodate equity funding. So Venture Capitalists prefer Private Limited over any other structure.
Being a compliant entity, it becomes easier to attract capital infusion from financial institutions like banks, NBFCs etc.
Do I need to have physical presence during the company registration process?
The Ministry of Corporate Affairs (MCA) has made the new company registration process completely online. All the document flow happens in electronic form at the MCA portal and there is no need of any physical presence.
I have already incorporated my company. What other services would I need to manage my business?
After you have got your company registered, you will need the following services:
Trade Mark and Copyright registration
Employees Provident Fund and Employee State Insurance (ESI) Registration
Bookkeeping, accounting and audit services
Payroll for Employees
Filing of Tax Returns: Income Tax, GST, TDS etc.
Filing of Company Returns
Many of these services will be required on an ongoing basis. WE PROVIDE premium monthly packages for new business to manage their business compliances on an ongoing basis. Talk to our experts or write to us at firstname.lastname@example.org to know more.