Setting up a Small Scale Business in India?

1. Setting up a Small Scale Business in India? Here’s how to do it. Human resource of over a billion people, richness of resources and industrial production make India a hit spot to invest in a small scale business that caters to India's mounting middle class. Adding to it is the democratic governmental structure of the country which facilitates its economic growth. If you are aspiring to set up a small scale business the very primary aspect to be taken into consideration is deciding the mode of business. Aspirants can pick from buying franchises, taking over some existing small business set-up, or can look for some original ideas to start their business.Backing it, a nicely formed business plan is extremely significant to help estimate and anticipate the plan of action. It also becomes important for lenders and investors as they would want to read the plan thoroughly before investing. Once the entrepreneurs have settled their business plans, one has to procure the necessary capital. Mostly the small business set-ups have three major sources for financing their operations – acquaintances, bank loans, and investors. After all the basics like business plan and finances are taken care of, the entrepreneurs will have to work on the legal aspects of starting a company. The legal structure chosen by the entrepreneurs determines the financing decisions of the organisation in future. Once the legal structure is determined the owner can register an application for incorporation.Another important aspect to be taken care of is determining the taxes. The owner needs to be careful of the taxes he can collect and ones that will have to be paid by him. In India small businesses can obtain essential equipments and machinery from the 30 Micro, Small and Medium Enterprises Development Institutes (MSME-DIs) and 28 Branch MSME-DIs that are set up in the state capitals and principal industrial cities across the country. There are several companies in India which face problems in acquiring funds and equipments, the Indian government has come up with several plans to assist such companies. Apart from all these proper advertising plays key role in making the business a blooming success. A variety of innovative and wide reaching advertising ideas have come up these days. One of them is to have an online presence. Advertising on newspapers, distribution of leaflets and advertising on well-known websites etc are other options. The most important thing however

2. is customer satisfaction. Replying to phone calls, emails and comments online, quick response and solution to complaints, maintaining a user friendly customer care system online/ telephonically if required, are a few thing that can be done towards it. We at eFilingPortal.in aim at making business easy and hassle free for the entrepreneurs and extending a helping hand at every stage of business. Register with us at https://efilingportal.in/. Also feel free to leave us your comments and queries, we promise to come back to you. eFiling Portal 509, Sector - 27, Gurgaon, Haryana, 122009 India Contact Number: 9-555-247-000, 888-2-247-000 Email: info@efilingportal.in For more info visit here: Company Registration and Business Registration