Thursday, May 23, 2024

Essential Steps to Launch Your Own Startup: From Concept to Success

In today’s time, most of the people want to start their own startup. With the advent of shows like Horses Stable and Shark Tank, people are more interested in it. Today people want to know everything about startup, like how to start a startup, where to get funding for it, which startup should be started, what are the rules and regulations to start it, etc.

What is startup?

No business is successful from day one. Whenever 1 or more than 1 people start a new business in the form of a company, partnership firm or proprietorship, it is called Startup. The general meaning of startup in the dictionary is “to begin”. That’s why when a person starts a new business by working on a new idea, it is called a startup.

Steps to start Startup

If you also want to know everything about startup, then in today’s article we are telling you some steps to start a startup.

Unique name of the Startup:

Whether you are looking to start your startup as a solopreneurship, partnership or company, you need to decide on a unique name for your startup. Whenever you start your startup, you have to see that the name of your startup should not match with any already existing company, otherwise you will not be able to register it. After deciding the unique name, you will have to get it registered according to the nature of your startup.

If you want to start up as Solopreneurship (Proprietorship), then

Steps to start a solopreneur startup:

When a person starts his startup alone, then it is called Solopreneur (Proprietorship). Many startups like home kitchen or any small scale business come under solopreneurship.

Registration of Solopreneur Startup:

To register a solopreneur startup, you can get it registered with the local department of your city (such as municipality/municipal corporation, city council, etc.). For this, proof of your identity and address, if the place is yours, its registry or copy of the rent agreement, etc. is necessary.

Required documents:

  • Proof of Identity (Aadhaar Card, PAN Card, Driving License or any recognized document of identity)
  • Proof of Address (Aadhaar, Voter or any other proof)
  • Copy of Registry or Rent Agreement of the place

Registration for Startup India:

After registering Solopreneurship, you will have to register for Startup India. Government of India provides many facilities to promote startups in India. You will get the benefit of these by registering on Startup India’s website https://www.startupindia.gov.in/.

If you want to start up as a partnership, then

Steps to start Partnership Startup:

When two or more people come together and start a business, it is called a partnership.

Registration of Partnership Startup:

To start a partnership startup, you need to register under the Companies Act 2013. For this, you can register by visiting the Ministry of Corporate Affairs website https://www.mca.gov.in/content/mca/global/en/home.html.

Required documents:

  • Certified photocopy of partnership
  • PAN card of all the partners
  • Aadhaar Card/Voter ID Card/Driving License of all partners
    business pan card
  • Copy of Registry or Rent Agreement of the place

Registration for Startup India:

After getting the partnership firm registered, you have to get registered for Startup India. Government of India provides many facilities to promote startups in India. You will get the benefit of these by registering on Startup India’s website https://www.startupindia.gov.in/.

If you want to start up as a private company, then

Steps to start a startup as a private company:

To register a startup as a company, you have to get it registered under the Indian Companies Act 2013.

Registration of Startup as a Company:

For this, you can register by visiting the Ministry of Corporate Affairs website https://www.mca.gov.in/content/mca/global/en/home.html. You will get information about all the necessary documents and process on the website. By completing all these documents, you can register the startup as a company.

Required documents:

  • Incorporation/Registration Certificate of your startup (Registration Certificate of your startup)
  • Proof of funding, if any (Proof of funding, if any)
  • Authorization letter of the authorized representative of the company, LLP or partnership firm
  • Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage startup)
  • Patent and trademark details, if any
  • List of awards or certificates of recognition, if any (List of awards or recognition certificates, if any)
  • PAN Number (PAN Number)
  • Registration for Startup India:

After getting the private limited company registered, you have to get registered for Startup India. Government of India provides many facilities to promote startups in India. You will get the benefit of these by registering on Startup India’s website https://www.startupindia.gov.in/.

Working Capital :

From registering your startup (solopreneurship, partnership or private company) to meeting day-to-day needs, capital is required. The amount of capital you will need to start your startup depends on your idea. You should make arrangements for capital and working capital by estimating expenses for at least the next one year.

If you start your startup by taking care of all these steps, then you will not only be able to start the startup well, but can also make your startup successful with hard work and proper management.

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