Resources

You can start Lending by incorporating a Nidhi Company

You can start Lending by incorporating a Nidhi Company

Resources
Image Source: Pexels Are you passionate about finance? Want to start something that could help people getting financial assistance? Hold on, I am not talking about Banks or NBFCs. I am going to tell you something more interesting and easy to start up with if you are passionate about financing, helping people of getting funds. Nidhi Company is such an institution which is perfect for you. You don't require to open up a bank or NBFC to accept deposit and giving a loan. It is much easier to incorporate and operate. 'Nidhi' generally means wealth or treasure but in terms of finance, it is basically 'principle of mutuality'. A Nidhi company belongs to the Non-Banking Financial Company sector but it is different from the NBFCs. Nidhi companies are recognised under section 406
How to Build an Empire with a Trade License

How to Build an Empire with a Trade License

Resources
Image Source: numbro.in  You must be keen to set up your own shop, store, website or even an online marketplace and start generating revenue. Aren’t you? A budding entrepreneur like you is very much enthusiastic, full of energy and innovative ideas who put all his/her efforts and just want to start up. But hold on, all your hard work will go in vain if you don’t register your business from the very beginning. Trade License is one of the essential registration tools you need to do before starting up your business operations. Whatever the size of your business may be, wherever you are doing you should obtain a trade license. Trade License is a permission provided by the government to allow you for your particular kind of business in a particular area. That means it only allows y
One Person Company (OPC), gateway to Limited Liability

One Person Company (OPC), gateway to Limited Liability

Resources
Starting your own business? Are you the only founder and owner of your business? Are you worried about the unlimited liability of a sole proprietor? Why are you going to sole proprietorship when The Companies Act 2013 allows you to incorporate an OPC which stands for One Person Company. OPC was introduced by implementing The Companies Act 2013. Prior to that, a minimum of two shareholders and two directors were required for incorporating a private limited company. But in case of this, only 1 shareholder and director are required and the person who is the shareholder is the director of the company as well. As a young budding entrepreneur, you want to flourish your business and make it large but you may not find an appropriate second partner to form a company. OPC is proving you with l
Why Business Incubators are indispensable to you?

Why Business Incubators are indispensable to you?

Resources
Image Source: Pexels Are you starting a new business? Are you a young, budding, enthusiastic entrepreneur? Are you lagging behind in your decided startup goals and plans? Are you lacking startup resources? Well, if all of the answers to above questions are "YES" then its all right, you don't need to worry or panic and if the answers are "NO" then definitely there is nothing to worry. I am here to solve your above-mentioned problems, Oh! a bit wrong. I am having the solution to your aforesaid problems, Business Incubators are here to solve them. Now a question may pop out from your mind. Who are business incubators and how they can solve your problems? Business incubators are institutions and companies which help entrepreneurs in mainly developing their startup busi
Why Seed Funding for Business startup is important?

Why Seed Funding for Business startup is important?

Resources
Image Source: kyabae.com  The would-be entrepreneurs, now you have a great idea of starting a business, right? You may be thinking from where will you get money? That is, how can you finance your business. But you are having ‘just an idea’ right? Do you think investors are ready to invest in the startup of yours which is just in the idea stage? Well, you have two option at this stage one, Bootstrapping that we have already discussed, if you missed it you should go and read it and the other is Seed Funding. Startup Funding has various components namely, bootstrapping, Seed funding, venture capital, crowdfunding, IPO etc. Seed Funding or Seed Capital is the financing option for the initial stage startups. Angel Investors want to invest in startups in the initial stage. They provide
How bootstrapping can give entrepreneur an extra edge?

How bootstrapping can give entrepreneur an extra edge?

Resources
If you are a budding or a prospective entrepreneur you should be knowing what is bootstrapping. So, before giving you an inside let me tell you what is bootstrapping. Bootstrapping is using own fund as capital for your business.     As an entrepreneur you have two options in your hand for funding your business, you can start with your own finance or you can collect finance from outside. It is an important decision to take. If you are a startup, it is very difficult to collect investments from outside sources, isn’t it? When you are starting a business the best thing you can do is to bootstrap. It is just the opposite of approaching and collecting fund from Angel Investors or Venture Capital Firms. Instead, it is to invest your own fund, sweat equity and reinv
Why Registration as Private Limited Company necessary for Start-ups

Why Registration as Private Limited Company necessary for Start-ups

Resources
Image Source: ebizfiling.com There are several options for financing a startup, and you have to register your business according to how you are going to finance your startup. If you want to raise fund from outside sources that are, from Venture Capital Funds or through other investors, you are required to register a company as a Private Limited Company. Now you may think what is a Private Limited Company? As the name suggests a Private Limited Company is a limited liability company. The liability of the shareholders is limited and it has to be minimum of 2 directors to form a Private Limited Company. A Private Limited Company is more reliable, trusted by the VCs as the Private Limited Company has perpetual succession, separate legal entity and it is sustainable too. If you are...
How to write a Business Plan for your startup

How to write a Business Plan for your startup

Resources
Image Source: Score Whether you are a big company or a budding startup you should have a well organised and structured business plan, but before writing a business plan you should know what is a business plan and why do you need it. You can find it in our previous post related to the business plan here, if you haven’t read it please go through it to know the importance of having a business plan. You can hire a professional to write a business plan for you or you can easily do it by yourself. You can get free business plan format at online, you can download free business templates, one-page business plan format from the websites. This will help you to develop your own business plan. Let me give you some tips to write a business plan. Keep it short and precise: Remember no one g
Why Limited Liability Partnership Registration is needed for your Startup

Why Limited Liability Partnership Registration is needed for your Startup

Resources
Image Source: iPleaders Blog Is your startup a partnership? Are you dealing with small amount of capital? Do you know about LLP? If the answers to the first two questions are yes and that of the last one is no, then this is the time you should know what is LLP. LLP stands for Limited Liability Partnership, which came into existence way back in 2008 and is governed by Limited Liability Partnership Act 2008. It consists characteristics of both of a partnership as well as a company. The benefits of registering as a Limited Liability Partnership are as follows:   Limited Liability for the partners: In Partnership, we know that the liability of the partners is unlimited. Creditors or 3rd party claim settlement can be made out of partners’ private property. But w
What is a Business Plan and why do you need it?

What is a Business Plan and why do you need it?

Resources
Image Source: Pexels My dear budding entrepreneurs, your brain is full of ideas now, unique, innovative, problem-solving ideas as you are trying and dreaming to start your own venture. But are ideas enough alone to start a business?  You should have a well chalk out a business plan to make your idea into a real business. Before writing a business plan you need to know what is a business plan right? Business Plan is the total outlay of your idea, goals and how will you implement your goals into reality.   That means the business plan is the tool where you are having your ideas in written form instead of vague thoughts, How you are going to make ideas work? What are your action plans?  Where you want to be in next couple of years? How are you going to convert your idea into rea