In India, aspiring entrepreneurs are more and more, complicit in an instability in the world of subordinate work and the enormous rewards, as well as earning potential, guaranteed by an independent career.
Opening a company is therefore the dream and goal of many aspiring entrepreneurs of all ages. However, opening a company is a delicate operation, to be studied and planned in detail, which must be carried out with awareness in order to be able to start a truly profitable and successful business.
In this complete guide we will see how to start a company from scratch, how to start a successful independent business, the necessary precautions, as well as the costs and the main bureaucratic requirements and obligations to be carried out.
How to open a company from scratch?
If in the past for almost all commercial activities and companies a start-up license was required , limited in number by the Municipality of competence on the basis of the sector and the number of similar activities already present, today the opposite occurs.
Even if the bureaucratic requirements are not the simplest, in fact, and vary according to the sector of activity, and other factors, opening a company today almost never requires a specific license, except for special activities, located in particular city, or with goods still subject to state monopoly. This is mainly done to encourage free competition.
The first step necessary to open a company is to define the type of activity you want to start, the sector of reference, as well as the most appropriate corporate form, in addition to the purpose of the company (profit, or for profit and commercial purposes). , or non-profit, with utility and social purposes, such as clubs or non-profit organizations).
Based on these elements, in fact, the requirements, costs and precautions necessary for opening a company will change significantly.
Whatever the type of company you want to open, it will be fundamental that careful analysis, studies and planning are at the base. For this reason, an indispensable tool will be the business plan. Draw up an accurate and realistic business plan, accompanied by sector and market analysis, analysis of the territory and competition, identification and study of its target audience as well as of the local catchment area, feasibility analysis, costs and potential revenues, as well as identification of the better communication, promotional and price strategies, it will be essential to understand concretely how to start a successful, solid and lasting company.
Bureaucratic procedure and requirements
Depending on the type of company you want to open, the sector of reference and the place of opening of the business, the required requirements, the relative regulations and the bureaucratic procedure to be followed will be different.
For traditional commercial activities or services, for example, the basic bureaucratic procedure foresees:
- the opening of the VAT number
- registration in the Register of Companies
- communications with the Chamber of Commerce
- the declaration of Start of Activity to the Municipality
- the opening of the INPRS , if you hire staff
For many activities there are local regulations, i.e. rules, requirements and obligations, established on a regional or municipal basis.
In addition, for certain types of activities you are required additional requirements (for example, for activities restorative certificates.
For this reason, bearing in mind the sector in which it operates, the corporate form, the type of activity and the place of opening, it will be good to inquire about all the requirements and the necessary procedure. This will be possible by being followed by an accountant and by contacting at the chamber of commerce.
Costs and investment
Also with regard to costs , opening a company will require budgets , and will foresee costs and investments , which vary greatly depending on the activity, the object of the same, the management choices as well as the size of the business and any physical premises, where present.
To get an idea of the minimum budget needed, it is good to keep in mind that almost all companies require a minimum initial investment of not less than 20,000 Dollar to be able to start. The investment just mentioned is in fact the minimum and prudential basis to which an aspiring entrepreneur must have access, possibly with his own funds but which can also be obtained with various types of financing.
One of the solutions to open a company is to do it in franchising. The franchising formula allows you to become independent entrepreneurs, but with the advantages offered by the support and support of a consolidated and successful business reality.
The use of an already tested format, of a well-known brand and of the visibility already acquired, as well as the training and know-how offered, the legal and bureaucratic support, and the turnkey format offered, also allow new entrepreneurs, even without experience in the sector of interest, to start a successful company in a simpler way, with less risk and with lower costs compared to opening independently.