Starting your own business is a big step. It can turn your life around and give financial security. You will be your own boss as well as be free to live your life as you want rather than the 9 to 5 lifestyle. So starting a business definitely a turning point and crucial steps have to be taken when you start your business. There are many important aspects of a business that determines how your business will start. And one of the most important of them is the location.
The location of your business or more importantly the country and state will have a bigger role to play in starting your business. As you know every state or country have different norms and regulation regarding business set up. And if you are new to the locality or you don’t have any experience then you may need some assistance in starting your business.
In today’s article, we are going to talk about how to start a business in Kerala. Kerala is more than a vacation destination and it’s definitely a good place to start a business. This is because the government of Kerala is looking forward to boosting their economies and make their state a business hub. So they will be more than happy with new business ventures and setups. That means you are gonna get all the necessary resources to start a business there. But you will also need to keep in mind that you will have to follow the state policy regarding the business setups. This article will cover all the necessary steps which are required to start a business in Kerala.
How To Start Business In Kerala
1. Choose the right business
- Well if you have decided to set up the business in Kerala then you must have decided which business you wanna start. If not then please just go through the best business for Kerala and choose the one you are highly interested in.
- Apart from this take a look at the opportunities of the business which you have chosen to start in the state of Kerala and see if it is right for the state. You should also see the profit margin for your business.
2. Choose a name for your business and get approval for the name
- Now that you have looked thoroughly into the business opportunities then the next step you need to do is to choose a name for your business. We just want to tell you that it’s definitely not something you would wanna take lightly.
- See the name of your business says a lot and that’s why just give a little more attention to the name. Ideally, the right name of the business should be easy to pronounce, relatable to your business, something unique yet people should find it relevant and most importantly check whether you can have a .com domain for your business name.
- Now that you have chosen the name, just register the name in Registrar of Companies (ROC) and get their approval.
3. Submit necessary application in ROC
- After getting the name approval you will have to submit the application for incorporation, memorandum, and Articles of Association. Among these, you will need to submit other applications as well.
4. Get the certification
- After you have submitted the documents, ROC will examine them and then you will get various certifications of incorporation.
5. Get the DSC
- Now you will get the Digital Signature Certification for each promoter and director.
6. Obtaining DIN
- After this you will get a DIN which stands for Director Identification Number. This will be used for various things and documents of your business.
7. Complete all the formalities
- After you have done all the listed steps, you would still need to complete several formalities regarding your business. Although it takes around 2 to 3 weeks to complete. Make sure nothing is left behind and you have done all the necessary steps.
Conclusion:So here our article for how to start a business in Kerala comes to an end. Although we have included all the major steps, some processes may vary for different kinds of business. And there may be a registration fee as well as getting the permits and license may require a fees.