How to Free company Registration in India

The registration of this small business is voluntary, not compulsory. This contributes to our Indian economy in form of GDP. Small business registration generally comprises of proprietorship or partnership, LLP, or even OPC Pvt limited. As there are a lesser number of compliances falls in the lap of small businesses which they can afford.

In order to register as a small business, the following points need to be taken into consideration.

• Choose which entity you opt

First needs to be decided whether you want to go for a sole proprietorship, a partnership, LLP, or an OPC LTD. These can be decided on the basis of the budget, legal compliances, and other involved factors. In the case of the sole proprietorship or partnership registration, there is no statutory compliance involved. In the case of OPC LTD, compliances of ROC Filing, ITR filing is there, one must have DIN and DSC. After that opening of the current account is mandatory. So you need to choose a business structure accordingly as every business arrangement has its very own advantages as well as disadvantages.

• Name the entity

A business name needs to be decided. In the case of sole proprietorship and partnership, you are free to choose any name. But in the case of LLP or OPC LTD, the ministry goes through its databank and checks its availability. So here you need to choose a unique name for your small business as later on you can record this under the trademark law.

• Adopt applicable registration

After choosing the business arrangement and name the next step is to register your small business with the concerned department. A small business must get MSME Registration on the basis of its investment. Further make business registered under shop and establishment Act (if required, in the particular state), trade license (if necessary), professional tax registration(if required, in the particular state), register under EPFO and ESIC (If a number of employees/ wages exceeds a particular limit).If Small Business is involved under import and export business then get IEC registration. If Small Business is involved under food business then get FSSAI registration.

Here Neusource helps you to get small business registration as well as all other registrations or licences to start with.

Micro small and medium enterprise

In order to promote the ease of doing business, the government has promoted commercials to get registered with udyogaadharor MSME department, where small business can gain numerous paybacks that is accessible by the government. In MSME there are two sectors, the manufacturing sector, and the services sector which is generally classified as a micro-business, small business, medium business (on the basis of investment in machinery and plant).

In the case of the manufacturing sector, investment should be as follows

Micro Business- Less than 25 lakhs

Small Business-25 Lakh to 5 Crores

Medium Business- 5 crores to 10 crore

In the case of the Service sector, investment should be as follows

Micro Business- Less than 10 lakhs

Small Business-10 Lakh to 2Crores

Medium Business- 2 crores to 5 crore

To get registration under MSME, one must have aadhar number and necessary to link with its mobile number. However, if it’s not linked then you can later upload other proofs such as DL, Voter ID, PAN, etc. This is OTP based registration.

The benefits of registering your small business under Msme are listed below

• Discount in government fees while applying for patents and trademark
• The government gives credit schemes
• Consideration in international trade fair organized
• Subsidy under bar code registration
• Loans at concessional rates of interest
• Various tax rebates are offered
• Apply for government tenders
• Reimbursement under ISO certification

So on the basis of the number of benefits involved, you must go for small business registration and get the benefits under various startup India proposals.

The NeuSource Startup Mind is the finest business startup consultant that offer various services of registration like Proprietorship Firm Registration, Partnership Firm Registration, LLP Registration, MSME Registration, Company Registration, GST Registration, Copyright Registration, ISO Registration, Trademark registration, NIDHI Company registration

Akash Rai

"Any time is a good time to start a company.” Neusource indulge in providing business consultancy services which help startups to accomplish their desired results as a TAJ EXPRESS. If you’re passionate about something and you work hard, then neusource is the right choice for you.