One of the biggest mistakes entrepreneurs make these days is registering or incorporating a business without putting in much research. This leads you into a bad situation many times. Hence before incorporating a company, you must be fully aware of the same, make sure which corporation is best suited for your business, how you are going to start your business etc. Registering your company in haste is nothing but an insensible decision that most entrepreneurs take in haste. They are not even aware of all types of entities. They are just on the basis of what people around them are asking for. This write-up will discuss most of the important aspects to register your company. If you are interested to know about the same, keep reading the present blog.
What Do You Mean by Registration Company?
Company registration is a process through which a company or a corporate body is formed. This incorporation process needs to be completed through the Ministry of Corporate Affairs by filing an application for the name approval first and then for incorporation. To register your company is not an easy process. One needs to complete it properly without missing anything on the same. Registrar of the companies is the authority in front of which this incorporation or registration process is completed. Only after the completion of this process does a corporate body get recognized as a corporation, not before that.
Types of Corporation in India
Before registering a company in India, the very first thing you need to do is research about the type of the corporations in India. This needs to be understood by the entrepreneurs so that they can choose one out of them which is the most suitable for their business. In order to register your company, it’s very important to know about the types of the companies. The list of some most important corporations are given below:
- Private Limited Company Registration is the one which is the first choice of mist of the business owners because of the benefits it provides for the businesses
- Public Limited Company Registration is best for the big businesses
- Limited Liability Partnership firm is the next entity which does not governed by the Companies Act of 2013 but it has all the qualities of an incorporation
- For those who want to start their business individually but simultaneously want to incorporate a company as well, One Person Company Registration is the best option for them.
Need to do Proper Planning and Research
In order to register your business in India, you need to do proper planning and research like how you are going to do your business, business plan, investment plan, market research, competitors research etc. After that you come to a stage where you should start preaparing about the registration of an entity. Registration of an entity is not the only thing which makes your business successful. There are many aspects of a business which you need to know about before registering your company. Few of them are discussed here, I hope they will help you out to understand the values of proper business research before registering a company.
Keep it Simple In the Beginning
In the starting days of your business always try to analyze why you want to register your business. Do not overburden yourself by registering a company just to attract the customers or investors. Mostly people register their company to get customers and investors. If you do not have a proper plan regarding utilizing the money of the investors what’s the use of investors. Hence in the beginning make sure things will be simple and easy for you so that you can easily launch your business in the market. After doing this you can easily register your company anywhere in India.
When to Register Your Company?
This is one of the most favorite questions of all of you. Many times we have faced this question. There is no standard answer to this question. If you have read the above given content carefully you have already figured out the answer to this question. There is no such right or wrong time to register your company. It’s just like there are few things like research, when you complete them you can incorporate your company in India. Without doing basic research about your business, if you’re going to incorporate your company may end up making the wrong decision, hence always register your company when you are sure that you now know most of the things about your business as well as the business entity.
How to Register your Company?
Most of the people try to register their company on their own, this is the biggest mistake you are making, because if you think youtube will guide you regarding the registration and by seeing those videos of youtube you can do registration then you are wrong. It will increase the chances of rejection of your application. Hence don’t try to incorporate your company on your own without proper knowledge of the same. Some of the key steps of the company registration are mentioned below:
- Research about the business
- Research about the market
- Research about the competitors
- Draft a proper business plan
- Draft a proper investment plan
- Think about a proper name for your company
- File the application for the approval of the name for your company
- After name approval file the application for the registration of the company
- Submit the proper fees with the application
- Now the ROC that is registrar of the companies will verify you application properly
- If everything is good they will issue your ‘ Certificate of Incorporation”.
Conclusion
If you are starting a business then start it after doing proper research. Don’t do anything related to your business in haste. Take your time and after proper research do every single thing of the business carefully. Maybe research will take your little time but this will increase the chances of the success of your business. One of the most important decisions regarding starting a business is the registration of the entity. This also needs research.in the entire blog we have suggested one thing that in order to register your company take time and then do research, once you find the suitable entity for your business register it.
