There has been a tremendous cultural shift. Owning a government job is just not the agenda. The youth today is independent, jolted by job cuts, wants to start a business of his own! Well, here’s what you need to keep in mind:
Point one, is WHAT!, what do you want to open up? What is it’s scope? How is it different? Sounds interesting enough to compete in the market and acquire that edge?
- Know your investment base! Where, how, and what can be your investment!
When, you are sorted with the former, start browsing online about your venture and know your competitors well and be aware of whatever is happening around.
- Kick off obtaining a DIN ( Director identification number ) online from the Ministry of Corporate Affairs.
- Obtain a digital signature certificate online from any private agency which is authorized by the Ministry of Corporate Affairs.
- Register the Company name online with the Registrar of Companies (RoC).
Stamp the company documents at the state treasury or an authorized bank. (Includes Memorandum of Association, Auditor of Accounts, the Declaration deed).
- Acquire the certificate of Incorporation from the RoC, Ministry of Corporate Affairs.
- Make a private seal for the company.
- Register for a PAN Number i.e. permanent account number by an agent as outsourced by the Income Tax Department.
Get a tax account number (TAN) for Income taxes levied through an assessing officer from the Income Tax Department.
- Register then with the Shops and Establishment Inspectorate (state/municipal).
- Enrol for value-added tax (VAT) payments at the Commercial Tax Office (state).
- Register for professional tax at the Profession Tax Office. (state).
- Register with Employees’ Provident Fund Organization.
- Go in for all the insurance required, especially medical, the the regional office of the Employees’ State Insurance Corporation.
- Be sure of wherever you want to start up your business. Look for a premise, get it suited and hire some eligible staff.
Following some of these mandatory steps can surely get you lined up in the corporate world. So gear up and suit your dreams!