Organized Strategy for Your Business in India

Organized Strategy for Your Business in India

This plan outlines a roadmap for your business in India, incorporating Aarambh (Registration), Kavach (Protection), Pramanit (Certification), Nidhi (Funding for Startup), and Vikas (Funding for Growth). Here's a breakdown of the steps you can take to organize your business strategy in India, using the provided terms from Aarambh to Vikas:

1. Aarambh - Registration (Start Your Business):

Begin by registering your business entity with the appropriate authorities. In India, this typically involves registering as a sole proprietorship, partnership, limited liability partnership (LLP), private limited company, or public limited company depending on your business structure. Obtain any necessary licenses and permits required for your industry or locality. Register for tax purposes, including Goods and Services Tax (GST) if applicable.

• Choose your Business Structure: Decide on a legal structure like Sole Proprietorship, Partnership, Limited Liability Company (LLC), etc.?Private Limited Company Public Limited Company Limited Liability Partnership Partnership Firm Registration (ROF)Section 8 Company12A and 80G Registration Non Profit Company Registration Nidhi Company Registration
• Register Your Business: Complete the registration process based on your chosen structure. e.g. GST Registration & Certificate Tax Exemption Certificate NGO Darpan Registration Shram Suvidha Registration ISI Registration Organic Registration BEE registration BIS registration RERA Registration APEDA registration
• Obtain Licenses and Permits: Depending on your industry, you might need specific licenses and permits to operate legally.

2. Kavach - Registration (Protect Your Business):

Consider trademark registration to protect your brand name, logo, and other intellectual property.

• Trademark Registration: Protect your brand name and logo by registering a trademark.
• Copyright Registration: If you have creative content like software or designs, register copyrights.
• Patent Registration: For unique inventions or processes, consider patent registration.

Secure necessary insurance coverage for your business, such as liability insurance, property insurance, and business interruption insurance.

3. Pramanit - Get Certified (Certification):

Identify relevant certifications or quality standards applicable to your industry. This could include ISO certifications, industry-specific certifications, or environmental certifications. Ensure compliance with any regulatory certifications required for your business operations.

• Udyog Aadhaar Registration: Register with the government's MSME (Micro, Small and Medium Enterprises) program for benefits.?
• Industry-Specific Certifications: Look for certifications relevant to your industry, like NSIC (National Small Industries Corporation) or BIS (Bureau of Indian Standards) e.g. START-UP India Certificate GeM Certificate ZED Certificate ISO Certificate FSSAI Certificate IEC Certificate CE Certificate BIS Certificate APEDA registration Gumasta Certificate BIFMA Certification NSIC (National Small Industries Corporation) Certification Organic Certification Halal Certification FEMA certification BIS Certification for toys ROHS compliance Certificate
• These certifications enhance credibility, improve market access, and potentially attract investors.

4. Nidhi - Funding (Fund Your Business):

Research various funding options available for startups and small businesses in India, such as government schemes, angel investors, venture capital firms, or bank loans. Prepare a detailed business plan and financial projections to present to potential investors. Apply for funding through relevant channels, ensuring you meet the eligibility criteria and provide all necessary documentation.

• Bootstrapping & Seed Money : Use your savings or personal funds to launch your business.
• Angel Investors: Seek funding from individuals who invest in early-stage startups.
• Venture Capital (VC) Firms: Approach VC firms for larger investments when your business shows potential for high growth.
• Government Grants and Funding: Explore government schemes that offer loans or subsidies for startups in specific sectors.?
• Nidhi Company Setup: Consider a Nidhi Company if you plan to raise funds from a small group of members (limited to 200).?
• Central Govt. - CGTMSE?Funding

5. Vikas - Funding (Grow Your Business):

Once your business is established, explore additional funding opportunities to support growth initiatives.?Consider options like expansion loans, lines of credit, or equity financing to finance new projects, scale operations, or enter new markets.? Continuously monitor your financial performance and reassess funding needs as your business evolves.

• Bank Loans: Once your business has a track record, explore loans from banks for expansion.
• Debt Financing: Secure loans from lenders at a fixed interest rate for specific business needs.
• Equity Financing: Sell shares of your company to raise capital, but this dilutes ownership.
• Crowdfunding: Raise funds from a large pool of online investors through crowdfunding platforms.
• Project Financing:?Project financing involves securing funds for specific ventures, often large-scale infrastructure or development projects. It typically utilizes a mix of debt, equity, and other financial instruments tailored to the project's needs. Project financing structures aim to mitigate risks and maximize returns for investors while supporting project implementation and success.
• Machinery Loan:?Machinery loan is a type of financing specifically designed to fund the acquisition or upgrade of equipment and machinery for businesses. Lenders offer capital for purchasing or leasing machinery, with flexible repayment terms. Machinery loans facilitate business expansion, modernization, and operational efficiency by providing access to essential equipment financing
• GreenField Loan:?Greenfield loan finances new ventures or projects, typically in undeveloped areas. Lenders provide capital for building facilities or infrastructure from scratch. Greenfield loans support economic development by funding startup initiatives, contributing to job creation, and fostering growth in emerging industries or regions.
• Working Capital (CGTMSE Loan): The CGTMSE scheme in India offers micro and small enterprises collateral-free working capital loans. Applicants need to provide a filled application, a detailed business plan, and financial projections. Essential documents include KYC, business registration proof, and bank statements. Collateral and payment of the CGTMSE guarantee fee, subject to lender specifics, complete the application.
• Business Loan:?A business loan provides financing to entrepreneurs or companies for various purposes, such as expansion, working capital, or equipment purchases. Lenders offer funds with agreed-upon terms and interest rates, helping businesses meet their financial needs and achieve growth objectives while managing cash flow effectively
• Line of Credit:?An LOC is an arrangement between a financial institution—usually a bank—and a customer that establishes the maximum loan amount that the customer can borrow. The borrower can access funds from the LOC at any time as long as they do not exceed the maximum amount (or credit limit) set in the agreement.
• MSME LOAN:?MSME loans are tailored financial products specifically designed to meet the funding needs of micro, small, and medium enterprises. These loans support MSMEs with capital for business expansion, working capital, technology upgrades, and other operational requirements, fostering growth and development within the sector while promoting entrepreneurship and economic stability.
• PMEGP LOAN:?To generate employment opportunities in both rural and urban areas, the initiative focuses on establishing new self-employment ventures, projects, and micro-enterprises. It aims to bring together traditional artisans and unemployed youth, providing self-employment opportunities at their locations to discourage rural-to-urban migration. The goal is to ensure continuous and sustainable employment for these groups, contributing to the growth of rural and urban employment rates while simultaneously increasing the wage-earning capacity of workers and artisans.
• MUDRA LOAN: The Pradhan Mantri Mudra Yojana (PMMY), launched on 8 April 2015, in conjunction with MUDRA, aims to finance income-generating small business enterprises. All banks are mandated to provide loans up to ?10 lakh to micro-entrepreneurs engaged in income-generating activities, irrespective of MUDRA refinance support. Credit guarantee support is available under the scheme. MUDRA loans, initiated since 8 April 2015, qualify for coverage under the CGFMU, notified on 18 April 2016. Lending focuses on three segments - Shishu (up to ?50,000), Kishore (?50,001 to ?5 lakh), and Tarun (?5,00,001 to ?10 lakh), fostering significant contributions to the nation's GDP.

Additional Tips:

• Develop a Business Plan:?A roadmap outlining your business goals, strategies, and financial projections.
• Comply with Regulations:?Understand and adhere to relevant licenses and permits for your industry and location.
• Build a Strong Network:?Connect with mentors, advisors, and potential investors.

Resources:

• Startup India:?Government initiative supporting startups (https://www.startupindia.gov.in/ )
• Invest India:?National Investment Promotion and Facilitation Agency (https://www.investindia.gov.in/ )
• Confederation of Indian Industry (CII):?Industry association offering resources for businesses (https://www.cii.in/ )

Remember, this is a general outline. Research specific requirements and seek professional guidance for tailored advice.

• This is a general roadmap; specific actions will vary based on your business type and goals.
• Conduct thorough research for each stage, considering legal and financial implications.
• Seek professional help from lawyers, accountants, or business consultants when needed.

To stay organized throughout this process, create a comprehensive checklist or project plan outlining each step, deadlines, responsible parties, and any associated costs. Utilize tools such as spreadsheets, project management software, or specialized business organization apps to track progress and manage documentation effectively. Additionally, consider seeking professional guidance from legal advisors, financial consultants, or business mentors to navigate complex regulatory requirements and optimize your business strategy.

By following these steps and using the terms from Aarambh to Vikas as a guide, you can develop a well-organized strategy to register, protect, certify, fund, and grow your business in India.