A company is a legal entity which is associated with a group of people or any individual. Every company must be registered under MCA which is called the Ministry of Corporate Affairs in the specific jurisdiction in which the company operates. There are certain types of companies’ namely private limited company, public limited company, one Person Company, Section 8 Company, partnership and LLP which is elaborately said Limited Liability Partnership.
Each Company registration follows the below steps. Firstly you have to acquire DSC which is called Digital Signature Certificate, then Director Identification Number (DIN), filing of e-form and then incorporation.
Not only company Incorporation, we need clients for our business. They are actually matters. Because without clients the business is just like a temple with no pilgrims. This is the digital era and you can find various opportunities to attract them.
Business and Funding Tips for Your Company
They are non-profit and profit companies. The non-profit companies are for the public benefit. Profit companies are categorized as companies which we can run without any restrictions. Their main aim is to have a profit.
You should be able to pick the investors carefully. Here You must have a good business plan. And also You are finely aware of financial management.
Likewise, the company needs web development, and marketing management to explore and to announce what are all the amendments and achievements made by the concern. For that you have to hire the right people to the development of the company. Basically there is a wording that the ‘employees are the foundation of employers’ profit house”. So hiring should be very serious.
Is it possible to start a company without money?
Yes it is!! The government of India grants money for various sectors where you can apply and start the business. For instance there is EU funding. They provide funding for many of the start-ups. For starting small and medium-sized industries or MSME Registration, there are lots of funds granted by the Indian Government.
The funding is now possible because of a new concept called ‘crowdfunding’. The crowdfunding means the fund is collected through family, friends, individuals. The financial sources include banks, venture capital firms. By using crowdfunding you have access for thousands of the investors.
Types of crowdfunding
Before stepping up into company registration, you should be aware of crowdfunding. They are donation-based crowdfunding, rewards-based crowdfunding, and equity-based crowdfunding.
In the donation-based crowdfunding, the donors do not get the money in return. In rewards-based crowdfunding expects the profit back to the investors. Even though it expects back the reward, it is considered as the subset of donation-based crowdfunding. Equity-based crowdfunding allows the investors or the contributors to be a part of the concern. The contributors definitely have the profit as the return.
Angel investors are another source with more cash and with a lot of interest to invest into start-ups. But when compared to the venture capitals, angel investors contribute less-amount. So what about Venture capital then? Venture capital has great potential and can professionally manage funds. They also provide mentors, experts, and guides to the organization.
Bootstrap is also another method of funding your business. Bootstrap means, self-funding your business. Also you can raise funds through bank loans.
Benefits of Company Registration
Company registration is mainly to get a proper legal structure. It has trust and goodwill among the public. The companies can itself own the properties. There will be easier access in banks for loans. You can run your company for the long term even after your demise. So it should have good trust among the public and funds aiding sources. The ROC which is called the Registrar of companies assumes a basic part in cultivating business culture. Each and every company needs the endorsement of ROC to appear because it gives authentication to the companies. Any company that comes under the Companies Act 1956 should be acknowledged by the ROC to have the establishment.
Growth of the companies depends upon the expansion of business. Business plans are needed for the business expansion. The business templates clearly define the goals, leadership, organizing team, and motivation to move forward. The plan of business expansion needs an executive summary that outlines business plans from first to last.
The description of the company registration form should state what are all the services it provides, how well it reaches the people, how much turnover it gains and how well it serves the people, etc. must be mentioned.
Marketing analysis is also important, because it explains the size of the market. Detailed advertising, innovations, collaborations and new technologies should be well analyzed and should be marketed. The day to day operations should be watched. Only if you keep an eye on the day to day process, you will know where the employees lag behind, how it can be rectified, and what all the amendments need to be made for further development of the work, etc.
We Smartauditor gives all types of recent updates of Company Registration.
If you want to incorporate a company, then the first step is to register the names. In this period of lockdown due to the Coronavirus pandemic, the reservation period of the name was extended by MCA.
Normally a period of 20 days is the time duration for submitting all the documents.
But this year due to the Coronavirus Pandemic MCA government gave some relaxation time for registration. Also for the existing companies which need the change of names also got the reservation period of 20 days along with 60 days.
Get Register and be secure. We Smartauditor Provides Company Registration in Trichy, Salem and Erode. Join us for a better tomorrow.