In India business of LED is growing day by days because many manufacturing units are situated in India and they are operating by Indians, and this business is also generating massive money from the market.
If you want to start a LED manufacturing Unit in India, then you have to comply with Indian laws and have to do your business registration as it is an important thing for your business. This article talks about the incorporation of a LED Manufacturing business in India so you will get an idea about it.
Market Research is the First step for starting a LED Manufacturing Unit, so the first thing you have to do is Market Research, it is very important because you will get ideas about hot trend in the market so you can manufacture that bulb in your manufacturing unit and after Market Research you will find other company’s prices so you can set your prices.
After Market Research, planning of business is very important because this is a team task you have to plan correctly for your LED manufacturing unit; you have to prepare everything for your LED manufacturing unit.
Then you have to register your business as a legal entity for which you can apply to the concerned authority. Business Registration in India is an important thing for your business it will give protection under the laws and give you various rights under the laws, in case of failure of Registration of your business you may have to face legal consequences.
You have to locate your business because you will manufacture the LED bulb so it will need a place for machinery. So you have to choose a location for your factory where you manufacture the LED and where a worker will work for you.
Business Registration is also important for locating a factory in a city because you have to take permission from the local authority for running a factory in the town and without Business Registration, you will not get permission from the local authority.
As above mentioned there will be the requirement of machinery for production of LED so you have to purchase machinery for manufacturing and you have to purchase all the required equipment for your business.
There will be a requirement of employees in your business so you have to hire people so they will work for you.
Then you have to promote your business, and you can give your advertisement on social media, television, or Newspapers. Promotion is important for generating customers.
If there are two or more partners in your business, then you can incorporate your business as a Partnership Firm. Incorporation of Partnership Firm is easy and simple, you can incorporate your business by making a Partnership Agreement which should be signed by all the partners, and it should be notarized and contain the stamp.
The partnership agreement covers all the details of business and partners. You can register your Partnership Firm Registration under Registrar of Firms. There is less compliance required for partnership firm as compared to other business entity. Business Registration is important because it will give you protection under the laws and you will get many benefits.
Udyog Aadhar Registration is also important for your business because it will help to newly incorporated business. Udyog Aadhar is issued by Ministry of Micro, Small and Medium Enterprises. It is unique digit number allotted by an above-given ministry.
After obtaining this, you will get a loan on low-interest rates, and you will get a subsidy from the government so you should register your business with Udyog Aadhar it will surely help you. If you want to register your business with Udyog Aadhar, then you can apply for in on the official portal of Udyog Aadhar.
GST Registration is also important for any business which has the turnover of 20 lakh rupees, and in some state, this limit is only 10 lakh rupees, and you have to mention your GST number in your invoice so you should be done your GST registration as you have to file your GST in a prescribed period.
If you are thinking of starting a business of manufacturing of LED, then you should consider the above-given points, this will help you and gives an idea about the incorporation of the company.
You should follow the law, and you should comply with the laws so you should register your business, you can incorporate your business as Partnership Firm this is the simplest form of activity, and you should also consider the GST registration and Udyog Aadhar Registration these are important for your business, without these registrations you may not get benefits from the government so you should consider above-given points.
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