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STARTING A BUSINESS

STARTING A BUSINESS. FORMS OF BUSINESS STRUCTURE PRIVATE LIMITED COMPANY. PUBLIC LIMITED COMPANY. ONE PERSON COMPANY. LIMITED LIABILITY PARTNERSHIP. PARTNERSHIP FIRMS. LLP v/s Partnership Firm. Business of one without corporate or limited liability status.

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STARTING A BUSINESS

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  1. STARTING A BUSINESS

  2. FORMS OF BUSINESS STRUCTURE PRIVATE LIMITED COMPANY

  3. PUBLIC LIMITED COMPANY

  4. ONE PERSON COMPANY

  5. LIMITED LIABILITY PARTNERSHIP

  6. PARTNERSHIP FIRMS

  7. LLP v/s Partnership Firm

  8. Business of one without corporate or limited liability status. Least complex and cheapest form of doing business. Personal liability for individual in case of over debts. Taxable as an individual i.e. on slab rates Tax exemptions same as for individuals. No registration for proprietorship required, however, business must be registered under relevant laws in force, For instance, GST if turnover exceeds Rs. 20 Lakhs. Sole Proprietorship

  9. NIDHI COMPANY Registered under Companies Act, a class of NBFC. Limited Company Form i.e. requires 3 directors & 7 subscribers for incorporation. For cultivating the habit of savings among members. Allowed to take deposit from members and lend to them only. Conditions to be satisfied within 1 year: Minimum 200 members Minimum net owned fund of Rs. 10 Lakhs Should not have ratio of net-owned funds to deposit more than 1:20 Unencumbered term deposit must be at least 10% of the total outstanding deposit.

  10. PRODUCER COMPANY A hybrid between a private limited company and a co-operative society. Deals primarily with agriculture and post harvest processing activities. Objective-production, harvesting, procurement and related activities of primary produce. Minimum 5 Directors & 10 shareholders.

  11. NON-PROFIT ORGANIZATION TRUST Minimum 2 Trustees required. An obligation annexed to the ownership of property. SOCIETY Minimum 7 members, of different families. Registered under Societies Act, 1860. COMPANY Section 8 of the Companies Act, 2013 governs this company. Name can end with Private Limited/Limited. Improved recognition & better legal standing.

  12. Factors to be considered for choosing the right form of business organization are: Nature of business: Foremost important factor. The business which require diverse mindsets cannot be run on sole trader basis. Scale of Operations: For large scale operations, companies are best option. And in that, if you are planning for listing of shares, go for public company. Partnerships can also be made for medium scale of operations like if the business is expanded in different states. Choose LLP over partnership because of its mote advantages. HOW TO CHOOSE BETWEEN DIFFERENT FORMS OF BUSINESS ORGANIZATION ?

  13. Ownership freak: If you don’t want to share the authority to manage & the profit, sole proprietorship or OPC is best. Private Company can also be incorporated for sharing between less people. Requirements of Funds: For accessing funds, public company is the best option. Partnerships can also me formed to contribute but again capital in the hands of individual will be limited. Status of business is very crucial factor for long tern prospects. Choose wisely!

  14. INSTITUTE FOR INDUSTRIAL DEVELOPMENT Counseling Entrepreneurship Orientation Hands on Training Updation through emails & wats app group Guidance towards Finance and Govt. scheme Interaction with Industrial Experts Placement Assistance

  15. Contact @ 7408733333:7607655555 Email ID: samitisamadhan@gmail.com Website: industryincubator.co.in YouTube Channel: Entrepreneur India.Tv

  16. THANK YOU

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