Question

Priyank wants to start a small business but he is unaware of the government support

available. Help him to gather necessary information by explaining him the

characteristics of small business and scope of small business. Also mention the steps

taken by the government for the development of small business in India..class 12th ...business studies​

Answer 1

Answer:

Here is a very simplified new step by step process on how to start a Business in India. This guide will be immensely helpful to those who are finding it difficult to understand the process of starting a business in India

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Starting A Business In India – New Simple Step-By-Step Process [2017]

Here is a very simplified new step by step process on how to start a Business in India. This guide will be immensely helpful to those who are finding it difficult to understand the process of starting a business in India

By Arun Prabhudesai Last updated Aug 1, 2017

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[Editor’s Note: The article is constantly updated to reflect new rules and processes. We first wrote this article in 2009 and have been updating it on a regular basis as and when the processes have changed. In 2015, many new reforms have been announced by the Government, and they have also come up with a unified INC-29 form, that reduces paperwork to a very large extent. We have taken help from folks over at Vakilsearch to bring you the updated procedure. Here is the updated process]

Company registration has forever been a major hassle for entrepreneurs looking to set up their businesses in India. It’s no wonder then that India has been ranked 142nd on the Ease of Doing Business Index and 158th on Ease of Starting a Business. The newly introduced INC-29, a five-in-one form introduced by the Ministry of Corporate Affairs (MCA) in May 2015, will go a long way toward improving this ranking.

The INC-29 doesn’t replace the old procedure (at least not yet), but significantly reduces interaction with the authorities through the clubbing of forms for DIN allotment, name reservation, incorporation, PAN & TAN, as well as ESIC registration. Do note, however, that while INC-29 does begin the PAN & TAN and ESIC registration process, you are still required to submit supporting documents and information on the MCA’s e-biz (ebiz.gov.in) portal (so for now it not clear why PAN, TAN and ESIC details are asked; perhaps the government plans to integrate these later).