Subscribe

Subscribe To Mail

Powered By

I Love:
Blogger

Powered by Blogger

Establishment of Biotech company

Here I like to say that this article not only focus on Biotech company establishment but generally can be taken for any company. The previous article was about becoming Entrepreneurship and if you have decided then this can give a brief summary of process to establish a company.

An entrepreneur is one who setup the company and markets his product or his service and makes a competition in the market.

In this I like to say the practical ways of establishing the company like whom to approach, what documentations have to be done, what are the policies available and other such stuffs which are in process in India. So Indian Entrepreneurs can read this and make sure each statement is clearly understood by them.

``````````````````````````````````````````````````````````````````````````````````````````````````````````````````

Six steps to start a company:

I have provided six steps of how one can go about in starting a company.

1. Know the Nature of Business

2. Prepare the prospectus of your company

3. Business registration

4. Articles of association

5. PAN Number of Company

6. Certificate of incorporation

1. Know the Nature of Business:

The idea is you need to choose one kind of business from the below:

Proprietorship

Partnership

Joint stock company

Co-operative organization

We must note here that each business has its own advantage and disadvantage. For e.g.: In case of Proprietorship, A good business will fetch you with most profit but if its failure you need to face unlimited liabilities.

If you go for partnership you can have a partnership of 2 to 7 members in maximum.

Now coming to Joint Stock; there are two kinds of joint stock companies like Public Ltd and Private Ltd. If you plan to start a public limited you need to show a capital of up to 5lakhs but its not so in case of private.

In case of co-operative organization if persons are interested for mutual benefit and its aims are accomplished through self help and collective effort.

The self help groups were originated in Bangladesh and now the best examples can be seen in Punjab.

Once you have decided what form of Business you were interested then proceed to read the below.

2. Prepare the prospectus of company:

Now its your turn to prepare details or prospects of the company. Here your first step is to select the company name and then prepare the list of members to be employed and share holders. For e.g. in case of private ltd, the limit of share members should be 50 and must not exceed that.

The prospectus should be used as and when approaching a bank or clients. The better the prospectus the better you create an opportunity for your business.

3. Business registration:

You must register your company before you could make progress with it. The company establishment and the area where the company is to be established are examined and the documents must be registered at the register office. The charge of the documents registration will be approximately Rs.30, 000 (rough amount).

4. Articles of association

There are two types of articles to be registered which consist of share rules and policies.

Articles of Association

Memoranda of Association

These articles must be signed to start the business. This step has to be done with the aid of auditors. In case of public ltd company signing Articles of Association alone is necessary.

5. PAN Number of Company:

Once the registration of company has been done you need to apply for company PAN Number This is company Pan Number (don’t confuse with Individual Pan Number) which can be obtained by TIN Specialization Service approved by NSDL. E.g.: Karvy Integrated Enterprises.

6. Certificate of incorporation:

Get the incorporated certificate that you own a company and proceed with the progress of the company. Generally the initial step is the election of managing director. For this all the share holders vote and elect 2 Managing Directors but it can be 3 in case of Public Ltd Company. Then he has to compulsory get DIN Number (Director Index Number) within one week.

Once all these steps have been accomplished, you have now established a company!!!!

`````````````````````````````````````````````````````````````````````````````````````````````````````````````````````

Was the article useful if so please feel free to give feed back or comment below?

No comments:

Post a Comment

Give your Feed Back in here

Book Mark

..