CV Associates provide exclusive detailed specialized skills to provide end-to-end support to new businesses. we are committed to helping startups thrive by offering tailored advice, mentorship, and guidance throughout their entrepreneurial journey.
Furthermore, we have a keen eye for technology integration and digital transformation. We are guide clients through technological advancements, helping them leverage emerging technologies, integrate digital solutions, and adapt to the digital landscape.
When starting a new business, there are certain requirements that need to be fulfilled. The specific requirements can vary depending on the nature of the business and the location. However, here are some common requirements for starting a new business, along with examples:
- Business Idea and Plan:
- Develop a clear and viable business idea.
- Create a comprehensive business plan outlining your goals, target market, competition, marketing strategy, and financial projections.
- Legal Structure:
- Choose a suitable legal structure for your business, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation.
- Example: Registering your business as a private limited company in India, which provides limited liability protection to the owners and allows for easy fundraising.
- Business Name and Registration:
- Choose a unique and catchy business name.
- Register your business with the relevant government authorities.
- Example: Registering your business with the Ministry of Corporate Affairs (MCA) in India and obtaining a Certificate of Incorporation.
- Licenses and Permits:
- Identify the licenses and permits required for your specific industry and location.
- Obtain the necessary licenses and permits from the appropriate government agencies.
- Example: Obtaining a Shop and Establishment License, Food License, or GST Registration based on the nature of your business.
- Business Bank Account:
- Open a business bank account to separate personal and business finances.
- Example: Opening a business account with a commercial bank such as State Bank of India (SBI) or ICICI Bank in India.
- Tax Registration:
- Register for tax purposes based on your business activities, such as Goods and Services Tax (GST), Professional Tax, and Tax Deduction and Collection Account Number (TAN) registration.
- Example: Registering for GST in India if your business turnover exceeds the prescribed threshold.
- Accounting and Bookkeeping:
- Set up a system for accounting and bookkeeping to track your business transactions.
- Example: Using accounting software like Tally or QuickBooks to manage your financial records.
- Insurance:
- Assess the insurance needs of your business, such as general liability insurance, property insurance, or professional indemnity insurance.
- Example: Obtaining business insurance policies from insurance providers like HDFC Ergo, ICICI Lombard, or New India Assurance.
- Intellectual Property Protection:
- Identify and protect your intellectual property assets, such as trademarks, copyrights, or patents.
- Example: Filing a trademark application with the Trademark Registry in India to protect your business name or logo.
- Marketing and Branding:
- Develop a marketing strategy to promote your products or services.
- Create a strong brand identity through logo design, website development, and social media presence.
- Example: Implementing online marketing campaigns using platforms like Google Ads, Facebook Ads, or Instagram marketing.