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4 Essential Steps to Take When Starting a Business in India

The ease of doing business in India has improved exponentially over the past few years. India now ranks 63rd among 190 countries on the World Banku2019s u201cEase of Doing Businessu201d index. The rankings are based on the average of each economyu2019s ease of doing business scores for the 10 topics included in the aggregate ranking. This improved ranking followed the reforms implemented by India's government in the areas of starting a business, dealing with construction permits, trading across borders and resolving insolvency.<br><br>Consider this step-by-step guide for starting a small business in India.

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4 Essential Steps to Take When Starting a Business in India

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  1. 4 ESSENTIAL STEPS TO TAKE WHEN STARTING A BUSINESS IN INDIA

  2. The ease of doing business in India has improved exponentially over the past few years. India now ranks 63rd among 190 countries on the World Bank’s “Ease of Doing Business” index.

  3. Step 1: Incorporate a Business Entity In India, a business can be set up by way of the following: • Sole Proprietorship • One-Person Company • Partnership Private Limited • Company Limited Liability • Partnership (LLP) Public Limited Company

  4. Step 2: Obtain the Necessary Registrations, Licenses Digital Signature Certificate (DSC) Director Identification Number (DIN) Company Name Permanent Account Number (PAN) Tax deduction Account Number (TAN) Certificate of Incorporation Goods and Services Tax (GST) Registration Import Export Code (IEC) Office of Inspector, Shops and Establishment Act Certificate

  5. The Trade Marks Act, 1999 registers trademarks applied for in India, provides for better protection of the trademarks for goods and services and also prevents fraudulent use of the marks. It is a good idea to file for your trademark at an early stage, before you begin your branding activities. Step 3: Trademark Your Brand

  6. Apart from bootstrapping, there are other ways you can raise money for your startup, including angel investors, venture capitalists, business incubators, bank loans, government schemes or crowdfunding. Step 4: Raise Capital

  7. visit escalon.servicesfor more information.

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