1. Validate Your Business Idea
Before investing time and money, validate that your idea solves a real problem. Conduct 20–30 interviews with potential customers, build a simple landing page and measure sign-ups, or launch a minimum viable product (MVP).
2. Choose Your Business Structure
- Sole Proprietorship: Simplest, minimal compliance, but unlimited personal liability
- LLP: Combines partnership flexibility with limited liability
- Private Limited Company: Best for scaling and raising investment — most popular for startups
- One Person Company (OPC): Perfect for solo entrepreneurs wanting Pvt Ltd benefits
3. Register Your Business
For a Private Limited Company, register through the MCA portal: Apply for DIN and DSC, reserve your company name via RUN, file SPICe+ form with MOA and AOA, then receive Certificate of Incorporation.
4. Set Up GST Registration
GST registration is mandatory if annual turnover exceeds ?40 lakh (?20 lakh for services). Apply online at gst.gov.in. The process takes 3–7 working days.
Government Schemes for Startups
- Startup India: Tax exemptions, easier compliance, and fund access
- MUDRA Loans: Up to ?10 lakh for micro businesses without collateral
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