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How to setup an ecommerce company in India?

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ecommerce startup in india

India is a land of budding entrepreneurs. The youth of India is disillusioned from the lure of getting a job and they do not mind taking risks to reap greater rewards. The internet boom in India has also caused some young people to take to the internet to fulfil their dreams of moneymaking. However, there are many formalities and legal proceedings, which must be addressed before a person, is able to own an online store.

To start a business in India is definitely no cakewalk. However it has improved a lot over the last five years. Legal, taxation and other process are not streamlined.

-Saurabh Nangia. Founder, Targeting Mantra

From Market Research to legal registration to selecting appropriate tools for business management, if you aspire to become an entrepreneur then you need to have nitty gritty of all business and legal matters. Market research will help you prepare a plan for your company, legal registration will be required when you are satisfied with your business plan and want to start it as your career, finally tools such as version management,  account and records management will help you manage your business effectively and securely. A good record holding service will also help you in maintaining your sales records and thus you can always do taxes right and your operations are more efficient. Also all the legal requirements can be satisfied with good record keeping. Access to some documents should be controlled or they might be a major security breach and your trading secrets can be compromised.   To setup an ecommerce company in India a proper procedure should be followed.

1. Market research and testing – The market for the idea must be extensively researched and narrowed down. Most of the ecommerce websites in India fail because they try to cater to a bigger market than they can handle and thus their customer service suffers. In addition, they lose out to big online department stores like Amazon and EBay and their business is forced to shut down. However if the market that is being catered to is small and the products that is on offer is specific the company can survive.

2. Legal Registration of the Company– In India, to set up an ecommerce business one must fulfil many formalities with the Ministry of Corporate Affairs. Unlike in other countries it is mandatory to register an ecommerce business with a legal address. To register an ecommerce business a company must have complete these formalities

  • A valid address – The team must provide a valid address for the business. It can be a private address of a team member too. Nevertheless, to rent a certain office space is advised.
  • Two Board of Directors with DINs – There must be at least two board of directors with valid Director Identification Numbers. A person can register himself as director for a company by paying a sum of around 300rs to Ministry of Corporate Affairs. Any competent lawyer can draw up documents for the DINs.
  • A sum of 100,000 Rs Capital – At the end of financial year, the company must show a capital of 100,000 Rs in its books.
  • A valid company name – A valid company name has two components. The first word denotes the unique name of the company. The second word denotes the nature of the company. For example Tata Consultancy Services, Reliance Telecom, Sapient Consulting etc.
  • Other Laws – Certain laws are to be taken care of by a company. Laws like labour laws, taxes like VAT and GST might be applicable on the company and a competent chartered accountant is often required to take care of these.
  • Many times employee insurance etc. has to be taken care of, but small teams run most of the ecommerce startups and hence it might not be required.

Many online law companies can help you in setting up an ecommerce company.

3. Tools required – It is perhaps the most ignored part in the setting up of the ecommerce company. Most start up teams do not spend enough time on research for tools that are required and hence their productivity remains low. Because of low productivity, their competition has an advantage over them and it causes the company to incur losses. A startup should make sure that they have the right tools for setting up an ecommerce company.

These tools are absolutely required by the startup companies. Get the complete list here

1)      Online conferencing tool -Most of the ecommerce sites are setup by the people who are already working somewhere and thus cannot meet often. To ensure that there is no gap in communication a good conferencing tool is required. Tools like Skype and Yahoo Messenger can actually help a person as they allow group conferences with audio and video calls free over the internet and are easily available.

2)      A file sharing Service- There must be a central file repository or else there definitely will be a gap in research and data. Without a central file sharing system, all the data will be scattered and thus productivity will be very less. There are many solutions for this in the market. However, Skydrive and Dropbox are the most widely used and easily available services.

3)      Records Management Service – This is often the most neglected service by the ecommerce website owners. There is a wrong perception that data is managed easily online. However, they neglect the security of their data. SaracenDataStore is one such service provider, which can really help you in making your data secure. Such a service is very safe and data is stored behind the safety of impenetrable firewalls. A formal record management policy is necessary for any company.

I am a software engineer in a prestigious MNC. I am NSE certified derivatives professional and I like to dabble in money making schemes a lot. I like to read, play subway surfer on my tab and I am always connected to internet.

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Gutemberg Dos Santos and Robert Kiyosaki share their vision of leadership

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Gutemberg Dos Santos is a Brazilian-American entrepreneur and one of the main promoters of the use of Blockchain technology and crypto economy.

Gutemberg Dos Santos and Robert Kiyosaki

Gutemberg Dos Santos a couple of years ago sponsored an event in which the Guinness Record broke with the largest number of people playing Cash Flow, a game developed by Robert Kiyosaki. Today, Dos Santos shares some reflections that emerged on that occasion about what a good leader is. 

A good leader is an excellent guide to reach common goals. If I want my team to work successfully I must share my skills and offer the best tools for their performance. I am also committed to strengthening the capabilities of each of the members and never assume that we all work the same as diversity enriches and complements the unit. 

Sharing experiences. If I share my experiences with the rest of my team regarding the success and failures I have had in some projects, I will empathize with my team and together we will be able to reach the goals proposed for the company.

Listening. This part is essential for a business to prosper, if I do not listen to my people I will be walking towards darkness. I must always remain alert to the doubts and questions that my team may have, in this way I will know if we are all on the same frequency and we are walking towards the same course.

Motivating my team. I take my time to know my team, how old they are, what is their educational and socioeconomic level; what goals they pursue in the short and long term. This will help me find keywords that guide me to be empathetic with them and be able to have better communication. 

Being proactive. When facing a difficult situation, I try to get the best out of it, without falling into frustration and rather detect alternative solutions. Trusting and being flexible. I am attentive to the capacities and strengths within my work team, this way I trust people in order to delegate tasks, likewise I am open to listen to proposals and suggestions that lead us to strengthen our project. 

For more information, please visit : www.gutembergds.com 


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When navigating the Spanish legal system choose the right partner for your business

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xpanding your business internationally is challenging for any company and yet the rewards of entering a new market, like Spanish one, can bring unlimited rewards if you do it right.

Although with great risk comes great reward, one of the ways to mitigate those risks is to team up with a top international law firm like Avalaw. It can not only navigate local laws and regulations for both individuals and businesses, but can also provide services in relation to employment or tax.

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Invest with confidence in Spanish businesses and property 

Spain is showing signs of growth economically speaking, and although slow to recover in the face of the 2008 recession, it is now booming in a way other European countries are not. And with the euro performing well against the US dollar and other currencies it makes sense that eyes are turning to Spain for opportunities.

Of course this is also true not just for business purchase or investment, but also for property investment. In cities like Barcelona for example, the property boom continues with great profit to be made where property attracted premium rates and premium rents. 

However investment can be tricky, especially if you are facing a language barrier. How can you trust that due diligence is complete and fair, and that common pitfalls have been investigated or mitigated against.

This is when having the right business partner to do this for you becomes so important.

Experts in immigration law can save you money and effort

Of course it is not only investment opportunities which will require expert assistance.

If you decide to follow your business opportunity in Spain, or wish to employ an international specialist workforce that requires them to relocate to Spain, then you simply cannot do this without a specialist by your side

Even relocation within the European Union can be tricky with multiple bureaucratic steps needed. After the first 3 months to formally register your presence in Spain, you are allowed to carry out legal activities

For those coming from outside of the European Union the immigration laws can seem complicated, onerous and at times, arbitrary. 

From applying for your identity certificate and identity number (NIE or TIE depending on where you are from), getting registered at the local council offices and setting up social security for taxation or getting your health care card making sure you have the right paper and the right visa depending on your visiting purpose, it can be hard to understand and lead to a lot of frustration that could be avoided. 

Not following the rules can cause serious problems. Not undertaking tax obligations properly can cause problems and sometimes very high fines. And get the immigration laws wrong and you might find yourself having to leave the country very quickly and not by your own choice. With so much riding on these things it is worth every penny to hire an expert.

Even if you are concerned about immigration and visa there are different types of permission to remain in Spain. From the certificate awarded to Europeans who can show financial independence, to the blue card offered to non-European skilled workers there is usually a best fitting option. There are even visas for those just wishing to purchase property or not intending to work.

Living, working and investing in Spain does not have to be daunting

You shouldn’t let the spectre of bureaucracy scare you away from some wonderful opportunities for a new life and a chance to make your business global.

It is easy to find many horror stories about Spanish bureaucracy, even to make a simple appointment can seem impossible sometimes, but the rewards are worth it. Choosing the right legal partner to help you on this journey is a great first step on this road. It is one of the most fundamental relationships you need for a successful and happy time in Spain. Do not leave it to chance and start planning today.

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5 Mistakes to Avoid While Buying Study Tables Online

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Study tables are a necessity in almost every household, office space, public places, etc., where one might just like to relax and read or avidly work on a given project or assignment. Let’s face it, completing tasks within a given deadline is a lot more distracting without a study table present. Sitting for hours on the bed with your laptop on your thighs or reading books casually might lead to back injuries and eyesight complications in the future. Hence it is best to have a proper study table to complete all your tasks and have a comfortable experience. These days, almost all customers have shifted to purchasing study tables online instead of going to stores because it saves a lot of time and money. However, while purchasing furniture online, there are a few mistakes which all buyers must avoid in order to invest correctly and have a commendable consumer experience:-

  1. Ignoring the brand name and price value:– It is really easy to go for furniture which is cheap and the description on the products is very promising. However, do not be fooled by such elevated claims these unknown brands make, because in their mission to sell duplicates of popular brands, they will create a divine image about their product and will rob you off your money. To be on the safe side, it is important to visit sites which are popular and there is good feedback about the purchases made. Try purchasing from brands which have both online stores and shops in the city. Better be safe than sorry.
  2. Impulsive purchasing:- Decisions made on an impulse almost never favour a person’s luck. While purchasing study tables, it is important to consider all possible loopholes that might be associated with it. Take your time to think and make a choice which will complement the area surrounding the study table and also will be durable. Don’t make an investment blunder.
  3. Ignoring the compatibility:– If you want to buy coffee table online or a study table, the surroundings it is going to be placed in must be carefully estimated. For instance, taking proper measurements of the area in which the table will be placed as well as the measurement of the door through which the product will be brought in must be accurate. It is suggested that you find a delivery service which places the table in its right place to avoid future complications.
  4. Not settling the place prior to the arrival of the table:– It is imperative that the necessary documents, books, copies, electronic devices, decor, etc., must be assembled in order prior to the arrival of the study table. That way, a lot of time will be saved and the table will be ready to use sooner. Keep a tab on the return policy from the brand you are ordering your study table from.
  5. Not surfing varieties:- Another major mistake buyers commit is not viewing varieties prior to purchasing a study table. It is more feasible if you surf through the different styles and varieties that these study tables are available in before impulsively investing in one. There are several styles that might suit your preferences like a bed study table, height adjusting table, a study table that can be folded and a light and shade one.

So if you are planning on purchasing a study table or a coffee table online, make sure to avoid these common mistakes to make a sound investment on your purchase and have a pleasant consumer experience.

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