What Business To Start In India?

Many of us at some point in our lives give it a thought that we should try our luck in business what with all the success stories of extraordinary businessmen who started from nothing and reached to a worth in millions of dollars, some of them even billions. All these tend to have a good impact on our mind and make us think running a business will help us to achieve whatever we want in our lives because of its brilliant scope of unlimited earnings. All of this glittering ideas however also tend to make people frustrated and eventually, they leave the field of business and plan on to other things.

Before we move on to the top businesses which you can carry out in India, it must be understood in the first place that, running your own business is more difficult than doing a fixed job. Establishing a successful business requires a lot of resources, strength, intelligence, ability to sell your ideas and finally, the willpower to strive through failure. You have a big chance of failing in your business eventually but those who do not get demotivated from all these and carry on their work are the ones who make it through.

So in this article, we will be discussing with you some amazing business ideas which you can think of investing in and make it worth it. Let us have a look at what business to invest in India.

Wine Shop- One of the most interesting and at the same time profitable business that you can choose to invest in is a wine shop. Wine shops require a huge investment which is divided into a lot of things like the license to sell wine and liquor, the cost of building the store, hiring employees, keeping the right amount of stock etc. But at the same time, you also have a good opportunity to gain exemplary profits from your investment if you set up a wine shop wisely.

Tourism Agency- India is one of the most important and popular tourist destinations in the world. So why not make the full use of it? Several tourism agencies have earned in six-digit figures by carrying out different tours all over the country. Since people love to travel to different places, you will be able to gain a good profit by asking for the right price from them for the tour. You can also plan international tours as well when you reach a certain stable and successful position in the business.

Fast Food Joint- In this fast pacing world, we have tended to change the way we eat our food as well. The people of India love food and especially fast food. So you can put your money to start a fast food joint. Decide on which cuisine or style of food you would be providing to the people. Understand the demand which the people have in your vicinity and also maintain good food quality and standard. With time as customers will grow, your profits will start increasing as well.

Real Estate Agency- As we all know, the real estate sector can provide you with the scope to earn a lot. There are a lot of investments made in this sector and if you choose to do it wisely and in an intelligent manner, you will be able to become successful real quick. You can buy and sell properties, you can put properties on rent or lease, you can also build your own property and lent them out to others. Whatever you choose to do, real estate can be the business you always wanted.

Super Speciality Store- People need to buy a lot of different things for their daily and monthly household needs. So you can make good profits by providing them with all these products. Super speciality stores have the stock for several products like food items, garments, equipment, gadgets etc. All in all, they are like a one stop place for everything one can think to buy. Even though it requires a good amount of investment to start such a store, it is very profitable.

Photography Agency- People tend to hire photographers frequently for different types of occasions they host. So to capture some good memories, people require a talented photographer to come and click a lot of pictures. Therefore, you can choose to start a photography agency where you can hire some good photographers and send them out on assignments for different projects and people. You can earn a good amount of money when you gain a good reputation and people call you to take care of their photography requirements.

Web Designing Agency- In the recent years there has been a huge increase in popularity in the field of website and internet. You can choose to invest in and start a web designing agency and help people to set up their own websites. Designing a website requires a lot of different work and knowledge. Therefore most of the people out there have no idea what web designing actually deals with. So you can provide them with a good website and in return, you can expect a good amount of profit from them.

Security Agency- with the residential and commercial spaces increasing at a rapid rate every year, people require good Security Services so that they can keep their properties safe. Therefore different security agencies are having a good time providing security facilities to these people who want to safeguard their business or property. You can therefore also choose to invest in a security agency and set up your own. With time as people will know more about your business and the kind of quality you provide you will start earning in huge numbers.

Coaching Centre- Education is an integral part of all of our lives. Nowadays education has become more popular and people are educating themselves more than ever. Therefore you can choose to start a coaching centre where you can teach different students who have education requirements related to various fields. Most of the time people are ready to invest a lot of money in these centres because they provide with effective and helpful educational resources.

Spa And Salon- People are often tired due to their hectic schedule and therefore they look for different ways to rejuvenate themselves. Therefore you can choose to start a spa and salon business and with time start increasing your profits. You must provide with excellent services and the kind of amenities that the people have in demand. If people are satisfied with them they will be visiting your store more often and also recommend it to others. So this business has a huge potential to turn your income into multiple figure digit.

If you have read the article until this point then you are now aware of different business ideas in which you can choose to invest in and to start any business you need to register that business. You can register your business online. Always remember that no one can assure you that you can become successful by running a certain type of business. However hard and smart work will always help you achieve whatever you aim for in your life and the same goes for business.

How company registrations online is giving a helping hand to new entrepreneurs?

The word ‘online’ itself is a huge sigh of relief for many since it allows one to fill out all their requirements from the comfort of the home itself where the computer itself becomes the portal of registration. Company registrations are surely a hassle since it involves going through various checklists to get one’s business securely registered. The Indian Ministry’s website states that a company can be incorporated through Simplified Proforma normally but electronic incorporation would include doing it through (SPICe -INC-32), with eMoA (INC-33). The eAOA (INC-34) is the default option and majority of the companies are required to be registered through that process only.

By the looks of it, things don’t seem to be that different, so how exactly is the online process helping new entrepreneurs and moreover is it secure? Let’s look at it below:

  1. Company name: The process of registration of a company or changing its name can be easily done by logging into the RUN services of the MCA with a fee of Rs 1000.
  2. Before MCA-21: There is a huge hang-up of finding the charge IDs of charge registered before this act. In fact, it is one of the most frequently asked questions in sites, for this you have to enter the CIN in the view index of MCA.
  3. Privacy of Data: The whole format and procedure are authentic and secure with inspection of documents allowed strictly in accordance with the provisions sets by the Companies Act 2000 and that too on a prescribed fee.
  4. Digital signature: The Information Technology Act of 2000 states that there should be Digital Signatures on the documents submitted in electronic form in order to ensure the authenticity of the documents filed by an individual. Digital signatures are typically issued with a one to two-year validity which is renewable upon expiry.
  5. Role check and verification: Role check can only be performed after the authorized personnel has registered their digital signature certificates with the MCA. After this comes the verification process, where it will be checked that the signature is authentic and of the owner or not. There are processes for DSC registration of directors, CEOs, CFO, practising professionals and more. This process helps in giving much-needed transparency to the process.

Thus, the process of e-filing is extremely secure and safe, not to mention Hassel free. The online revolution of doing work is worthy change indeed.

Things to know before you register a company online

Company means the togetherness of same minded people from where something productive will be released. The company is issued with public interest under one person or the group of persons. The product and the productivity is the main reason we are talking about the company. Now a day the virtual company is on the rise. The space problem has been solved with virtual companies. The employees can work from anywhere. With a strong internet connection and proper planning, the business will be able to deliver what it promises. The company means a trusted address where the receiver will be able to contact the person from the company and the service provider will offer same quality with experience of the same to the targeted clients. The company is the place where the gathering of people becomes like a family.To accommodate overflowing of population Company has started forming.

The company has many divisions like:

The company is divided into many divisions. In India, the divisions found mainly is a Private limited company, Section-8 Company, One person company and many more.

  1. The private limited company is the company where two or more directors involve with minimal liability.The equal share of responsibility makes the company visible to everyone, with proper verification.
  2. One person company is ok with one director. The person remains solely responsible to everyone and if for three consecutive years it makes business more than expectation, it will become a private company by rules of Government.
  3. The shareholder or limited company is important to shared responsibility.The share is the service product on which one can easily embark the success.

Limited company means the limitation of liabilities are limited to the person or the shareholder.

All these are the parts of Company in India where the various kinds of companies are doing their business. In India, the private limited companies have more presence than any other. The Ministry of affairs in India has circulated the rule of Private limited India under 2013 companies act and in 2014 the company corporate incorporation rules come. The director and the shareholder can be the same. A foreigner can be a director or a shareholder of the company. He can invest in the company directly. This FDI facility in the company is regulated by proper rules where the foreign investment will be put in.

Online company registrations have some important rules to follow. They are like:

  1. Obtaining DSC and DIN-DSC or digital signature certificate is very important to maintain.A digital signature is good as this will be at the storage for many years to come without any decay.The digital medium is always useful to maintain the data. The person of the signing authority has to be present in front of the registrar, not always. The digital signature can be done at the place where the company proprietor is living right now. The shareholder companies may need to sign all documents by every shareholder. The shareholder might not be present at the same place at the time of signature. DSC is must to register a company.DIN or Director identity number is also important to run the business. DIN is enough for one person if he wants to do many businesses at the same time. One DIN on the name of one person is good.
  2. Name approval-The company registration will be done with name approval.The proposed name for your company is rightfully placed in the office of the registrar through RUN web-service. The name may have other similarities.If your proposed name become similar to other names then, it is important to change your proposed name. The name will be published on the page of official name registrar page. If no one objects to your name then it is possible you get your company name. Name availability is possible when the registrar gives permission to the company liable person.
  3. Company registration – This step is possible when the director submits all documents to the MCA portal of the registrar office. The duration of the company registration can take 5 to 7 days.

The reason we do apply for Company registration

Separate legal entity – The presence of your company is important. The recruitment, the opening of a bank account, the selling or buying of a share all can be done by the company. The company is able to take decisions on the behalf of the liable shareholders singlehandedly. Online company registrations are also given in this facility.

Borrowing capacity – Once the company starts reaping the facility of company registration.It can borrow money, equity share and the important data from another entity or the banks easily. The borrowing capacity increases if the company looks responsible. The sender also feels ok to give the money, equity etc.

Easy transferability- The company feels ok to transfer money. One can easily transfer money or get money from other sources. It will help the company to run and grow.The easy transfer is possible because the liability of the company remains strong and singlehanded.

Perpetual Existence is a common and important feature of the company. Once the Certificate of Incorporation issued by the Registrar the company gets its own identity which is totally different from its members and directors. Directors and members may be changed but company’s identity remains the same. Means death, bankruptcy, insolvency of the members and directors does not affect the status of the company. There is no life limit for the company until the members are agreeing to dissolve it.

Owning propertyUnder company registration is good option to run the existing business and we know that it is always in mind to explore the business size. One can think of expanding the business and it will help the person to own property as with proper documentation he is able to register the company name to the targeted point. If the company wants to buy a property under the company name he is able to do so.

One can register his company in the legal documentation and can register the growth in the market too.