• Apr 14,2022
  • 2

7 Important Things To Keep In Mind Before Starting A Company In India


Starting a new company requires keeping certain things in mind in order to have good outcomes. When not taken seriously, there have been several incidents where owners have to stop the venture as most of the startups fail to work out in the long run.

Thus, it is the need of hours to look after certain things before starting a company in India.


1- Registration


Registration of the company should be done as it makes every business a differentiated entity and renders it a legal existence. It is done by the Ministry of Corporate AffairsCompany registration in India requires PAN, TAN, GST, shop and establishment license. One can interact with company registration consultants to have in-depth knowledge regarding the entire registration process.



2- Products and Services


Start-up accounting services – Starting a new business is exciting and challenging at the same time. Before starting a startup, it is quite important to analyze if there is demand for the products or services that you are offering to the people. This helps in evaluating the number of potential customers. Therefore, make sure to carry out a market survey to know about the demand rate of products and services. Know the needs of customers, and then decide accordingly depending on the results of the market survey.



3- Compliances and Intellectual Property


Start-up needs to ensure HR compliance services and its IP such as Patent, Trademark Registration and Copyrights. It should be registered with the Trade Mark Registry and is well protected.



4- Targeted Clients


Determine your targeted clients after you finish your survey related to the demand for products in the market. Study all the parameters such as age, gender, and profession, etc. in order to have a better understanding of potential customers.



5- Market competition


Before starting any company in India, one should have adequate knowledge regarding competition in the market. Having information about rivals and their potential helps in creating strategies to excel at your work. It gives you insights into what you need to do, how you should perform to stand out from the crowd. Also, learn about the strengths and weaknesses of your rivals as it would help you a lot.



6- Hire Right Resources


As we know that business gets successful when there is a team of members, it is not something that can be achieved all alone. Thus, it is very important to have visionary core members who share the same views in terms of attaining business goals.

There should be a well-detailed plan and appropriate core team members. Having the right set of members plays a crucial role in determining if a venture would be a great success or not.

A one-man army does not really yield better results when it comes to starting a company in India.


7- Learn from failures


Being successful is often advisable but don’t forget to learn from failures. It is indeed true that failures are stepping stones to success.

Have a realistic idea in your mind that there would be failures too along with success as no road is entirely smooth; there are ups and downs everywhere. Failure makes one to learn and come back to be wiser and stronger.

It has been evaluated that there are lots of budding entrepreneurs in India, and all of them hold so much potential. However, several of them fail to make it to the top because of a number of factors.



Thus, the important points to keep in mind before starting a company in India that is being mentioned in this article should be taken care of in order to attain success at any cost.


Leave a Comment