How to Start a Startup in India?
Having a startup in India can be a very thrilling and challenging journey, and there is very small difference between the dreamers and the executors. If you want to turn your business idea into reality you must have knowledge, must know how to plan, and have to put in full effort. To help businesses and promote the startup culture in India our country has taken various steps which will eventually improve the overall Indian economy. One of the start-up programs managed by The Ministry of Commerce and Industry was introduced in 2015 to improve and promote entrepreneurship. In this blog, we will guide you through the step-by-step process of how to start a startup in India and things to consider before starting your startup in India.
Things to Consider Before Starting a Startup
Before starting your startup idea, keep the following key points in mind:
1. Uniqueness
Your startup idea needs to be unique compared to others. Uniqueness will help attract customers and investors in the initial stages.
2. Demand
Be sure there is a demand for your product. You may suffer losses if your product has a small target audience and does not solve the problem it is made for.
3. Scalability
Consider how big you want your business to become. Having clear goals from the very beginning will help you plan for growth, regardless of the size of your startup.
Steps For Starting a Startup in India
1. Business Idea
The first step in starting a startup is coming up with a business idea. What is the product you want to sell and what service do you want to give? Ask yourself these questions:- What problem does my idea solve?
- Is there a demand for it in the market?
- How is my startup going to be different from others?
2. Create a Business Plan
Once you have an idea in your head, you have to make a business plan. A business plan is like a roadmap that tells about your startup’s objectives, how you’re going to achieve them, and how you’ll make money. It should include:
- A description of your product or service
- Your target audience
- Your marketing and sales strategy
- Financial projections
Do you want to know more about our hihellohr Software?
3. Choose a Business Structure
The next step is to select the proper business structure for your startup. There are several different types of business structures from which you can start, such as:- Sole Proprietorship: This is the type of business structure where only one person is responsible for managing and running the business and responsible for any losses.
- Partnership: In this type of structure two or more people are involved and share ownership. Only one person is not responsible for losses, both share the profits and losses.
- Private Limited Company: One of the most popular structures for startups and protects you from business losses.
- Limited Liability Partnership (LLP): This structure is also similar to a partnership but provides the partners with a sense of protection from losses.
4. Register Your Business
To make your business legal so you can easily do your business in India, first you have to register your business with the government. Here is how to do it:- Identify a name for your business.
- Must register with the Ministry of Corporate Affairs. This is more commonly referred to as the MCA. This can be easily done online through the MCA website.
- Obtain PAN and TAN (Tax Account Number) from the Income Tax Department. These are important for you to file your taxes.
5. Get the Necessary Licenses and Permits
Depending on the type of business that you are opening, you will be required to get some licenses or permits if you want to start your business legally. For example,If opening up a restaurant, you will need health and safety permits, among others. If you are in the manufacturing industry you may need environmental permits. Make sure to check which ones you need from local authorities.
6. Open a Business Bank Account
Opening a separate account which is specifically for the business is a good idea, that will help keep your personal finances apart from the business. As most banks in India now offer special facilities in business accounts including easier access to loans, digital banking and more, you must consider this. 
7. Arranging Funds For Your Start-Up
Most of the startups need some kind of funding to be launched. Here are a few ways you can raise money for your Indian startup:- Self-funding or bootstrapping: You can fund your startup from your savings. This option is great if your business does not require much money initially.
- Loans: Most of the banks and financial institutions have loan facilities for the startups.
- Venture capital: These firms invest more money in startups that have a potential for higher growth.
