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How to Start a Small Business in India after Covid19 Pandemic

The corporate giants of the world were not born overnight. Someone had an idea, a plan was made, funds were raised and a small enterprise was launched. It nurtures uniqueness, dedication, and best service.

Quality and branding save it. Reading the history of any large corporation makes this trend consistently effective. The same order is good for India's industrial giants.

The flag was unveiled by Prime Minister Narendra Modi on September 25, 2014, ‘Make in India’, a pioneering program in the history of the world’s largest democracy.

The 'Make in India' initiative is three-pronged.

It encourages Indian manufacturers and service providers to meet and exceed world-class standards. ‘Make in India’ also encourages entrepreneurship among Indians through encouraging and offering small, medium, and medium enterprises.

How to Start a Small Business in India after Covid19 Pandemic
Start Small Business

1. Decide a business idea

You will have your own business idea. Lots of lucrative business ideas are available on the MSME and Make in India websites.

India has opened the door for MSMEs for small businesses including defense and aerospace. ‘Make in India’ also offers opportunities in hospitality and tourism, manufacturing and agriculture.

Indigenous Citizens, Non-Resident Indians, Foreign Citizens / Individuals of Indian descent, and Foreign Citizens can start any such small business in partnership with the locals. Investment of foreign companies and citizens is regulated by the Foreign Exchange and Currency Act of India (FEMA) in the Reserve Bank of India Rules.

2. Get more training, experience

Start your small business according to your skills. Remember, your skills will determine the success of your business. Try to learn trade strategies as much as possible.

You can opt for a specialized or vocational training course offered by various recognized institutes of the Government of India. Additional skills can also be acquired by working with other established businesses in the field. It is better to forget all the knowledge and experience of the past and start as a beginner.

This will give you the opportunity to learn more with new perspectives. Certificates from technology or educational institutions may also be required by banks or financiers and licensing authorities to legalize your business.

3. Make a Project Report

Individuality determines the success of an enterprise. Study the domestic and international markets for products, services suitable for yourself. Search every detail related to your business. Read many success and failure stories about similar businesses.

The first step in any business begins with a feasibility study and a project report. This can be done by yourself or with the help of experts, depending on the nature of the business and funding.

The project report must contain details including the name, age and qualifications of the owner, partners. Attach certificates of business-related experience: They help increase your chances of making money.

Include revenue model with precise details including expenses and sales price, taxes, delivery charges and other miscellaneous expenses. The expected income of the project is for two to three years.

4. Finalize the source of your funds

Most small businesses in India are self-financed or run with funds from family and friends. 

Also, calculate the amount of money you need to keep running your business until it becomes profitable. Entrepreneurs launching micro, small and medium enterprises can ask for funds from it

Banks: Take informations from various banks for start-up capital offers.

Cooperative Credit Societies: If you buy their shares, they provide loans for small businesses.

Community Development Fund: They offer small businesses focused on the welfare of specific communities.

Crowdfunding: A group of friends, neighbors, communities or the general public attracts investment in exchange for shares of a company.

Venture Capitalist / Angel Investor: These have grown in India over the last three years and offer great financial opportunities for small, innovative businesses.

Rates and other details depend on different types of initiatives, expected return on investment, risk factors among others.

5. Decide on your location

Starting a small business in India requires keeping extra at home or in a shop, stall, workshop or office. According to local law, registration of your business with the local municipality / village administration is mandatory.

The civic body or gram panchayat will allow you to conduct your business from the area under your jurisdiction. Utility providers require registration with the municipality / gram panchayat before providing electricity and water connection to the premises. It serves as proof of the physical address of the business. Taxes on businesses in rural areas are lower.

6. Business registration and legalization

This is a messy, sad job for every entrepreneur. Registering a business in India can be long and confusing. Thanks to the direct guidance of Prime Minister Narendra Modi, the Ministry of Corporate Affairs now registers the new agency within one working day.

All the formalities for registering an organization can be done online. Details of the required documentation and other frequently asked questions are listed on the Minister's website. Licenses from various state and central governments are mandatory when starting a small business.

7. Get yourself tax registered

Setting up small business forces you to collect a permanent account number (PAN) and a Taxpayer Identification Number (TIN). These are issued by the Income Tax Department. It is relatively easy to get PAN and TIN numbers.

You can go to any PAN and TIN service center approved by National Securities Depository Limited, attach the required documents and submit the complete form by paying a nominal fee. PAN and TIN numbers are allotted within 30 working days from the date of application.

PAN and TIN numbers are effective when paying taxes to the government every year.

8. Launch your own website

Depending on their nature, small businesses in India can be established in three categories:

Online and physical
Physical (Store / Office / Workshop)
Trends claim to maintain the online presence of every business. This can be done by creating a website or social media pages like Facebook depending on the budget and the type of product/service offered.

E-commerce websites are ideal, as they allow for direct ordering and multiple payments. Pure physical business requires an online presence to match competitors and reach a wider clientele. 

9. Capture a market position

Use all your creativity when starting a small business. Give your initiative a great, easy-to-remember name. The company logo is the brand ambassador of the business. Hire a professional designer to create unique logos for your small business.

This logo will one day be the title of your superior products and services around the world. All successful businesses retain the logo or at least the version they used at launch.

Print the official stationery with the logo, brand, company name and contact details. This includes letterheads, envelopes, invoice books, payment vouchers and other items required for official transactions.

10. More money matters with banks

Registration with the company and municipality, the bank of your choice equipped with PAN number will open a current account. Before rushing to open a bank account, check out some details and ask about the check overdraft facility.

This is important to make sure your checks do not bounce due to scarcity of funds. A bounced check indicates the financial instability of an organization or business. Discuss how many free checks per year are suitable for you

Check for instant credit for small loans and other benefits such as deposit and outset checks. If you need imported raw materials, check for Letter of Credit facility.


Intense competition demands good publicity for your small business. Advertising costs a fortune and can be eaten heavily in your capital. Using micro-blogging sites like Twitter serves this purpose to introduce your organization to a better presence on Facebook.

You can also launch your company's videos, products and its services, key features and other information on YouTube and upload relevant photos to Instagram. A great profile on LinkedIn for your business will ensure that you reach the right audience.

You can also use traditional methods to promote your business, such as newspapers, local radio promotions, distribution of pamphlets, etc.

Ministry of Micro, Small and Medium Industries
The Ministry of MSMEs of India has been given the responsibility of developing small businesses. The MSME Ministry has offices in the capital cities of each of the 29 states and seven union territories. The Ministry regulates licensing, regulations and regulations for MSMEs.

It develops and introduces schemes and programs for entrepreneurial development. This ministry regularly introduces projects that provide funding on the soft terms of potential entrepreneurs.

Information on ongoing funding projects, investment opportunities in different states of India, training programs and regulations, currently in force can be obtained from the Ministry of MSMEs.

Currency Bank
On April 8, 2015, the Prime Minister's Currency Scheme and the Micro Unit Development and Refinance Agency Bank display the flag by Prime Minister Narendra Modi. Getting paid for start-ups is easier than existing small business currency banks.

Street vendors are also eligible for credit under Mudra Bank. Under the Mudra Bank scheme, business money can be taken from any public sector bank, co-operative bank, and approved financial institution.

A good start translates to healthier returns
Having all licenses and permits, proper bank accounts, and contracts with suppliers before launch ensures a great start. Recent policies for investors have cut the red tape and reduced it considerably.

Yet bureaucrats accustomed to unhealthy habits tend to pick errors. Read news related to your business every day. It helps to stay abreast of any new regulations that may be in effect.

And best for starting your small business in India
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