Source | Muvsi.in | BY:Muvsi Research Desk
Small Business Registration Guidelines & Procedures To Start A Business In India For Beginners
The objective of crafting this article is to provide information about small business registration procedures in India to the entrepreneurs. Regardless you are starting a business in manufacturing, retailing or service providing, you must register your business. However, there are different Govt authority for specific types of licensing needs. Even dealing with the same product with a different business model may attract different licensing procedures. However, there are some basic requirements that are common to everyone.
Small business registration is the first step of initiating any type of business. However, the most important consideration is selecting the right form of organization. In India, you can for 8 types of business organization. Those are:
- Sole Proprietorship Company
- One Person Company
- Limited Liability Partnership
- Private Limited Company
- Public Limited Company
- Non-Banking Financial Corporation
- Joint Hindu Family Business
- And Co-operative Organization
However, each and every entity have specific advantages and limitations both. Choose a proprietorship firm as a service providing startup. Choose partnership firm when you have partners and all want to continue their jobs in other companies. And want to just test their business ideas. You can go for Private Limited Company when you want to start a long term business.