A complete guide to starting a Service-based Business in India

If you want to register a startup or a new company in India, you must first register it with the Ministry of Corporate Affairs in India (MCA). It is not necessary to go to the corporate office to register because it may be done from the comfort of one’s own home. The registration process comprises obtaining a Digital Signature Certificate (DSC), obtaining a Director Identity Number (DIN), and submitting an electronic form. This blog will assist you with the necessary documents and processes to start a Service-based business in India.

What is a Service-based business in India?

A service business is a company that employs a professional or a group of professionals to perform work or assist in the completion of a job for the benefit of its customers. A service business’s product is not the same as the one you would buy in a store, such as a television, clothing, or food item. A service company provides a product that is mostly made up of personal labor and knowledge to complete the task at hand. For example, you might hire a real estate agent to help you buy your first home because you want to benefit from their experience, bargaining abilities, and understanding of the terms.

Different types of Business Structure can opt for Service-based business in India

• One Person Company
• Public Limited Company
• Limited Liability Partnership
• Private Limited Liability
• Sole Proprietorship Firm
• Partnership Firm  

If a foreign Entity wants to Set-up its business in India, then it can be possible by establishing a company as an Indian Subsidiary. However, the question related to establishing a business in India will remain the same, so let us have a look at the process on How to start a Service-based Business in India.

Service-based Business Registration process in India

Due to the vast market, many entrepreneurs were attracted to set up their business in India, the above flow chart related to the procedure for business registration will be helpful in taking correct steps at the time of starting a business. If there is any confusion or want to know more about the business registration process there is a blog related to How to Start a Business in India.

Documents required for starting a Service-based Business in India

Startup India Registration

Now if you are a startup, then you might require some more registrations and licenses, what are they? Let us have a look at the whole list of Registrations and Licenses required for registering a business as a startup in India.

Conclusion

India is a market that has vast opportunities, that will help you in gaining more profit from the market. With the Make in India initiative and other Government policies, there will be ease of doing business which will attract entrepreneurs to establish their business in India. Also, the Indian Government policies will help businesses in gaining and expanding their market globally. Recently there has been a trend for businesses that can be run successfully via infinite digital and online platforms and the government has also supported this by digitizing the methods of registering a business in India.