The first step in starting any business is to incorporate a new business entity. Incorporation of a business entity would facilitate the opening of bank account for the business, obtaining tax registrations and invoicing clients. LLP (Limited Liability Partnership) registration is the low-cost business registration at just Rs.8000. Further, with EMI option available from IndiaFilings.com for LLP Registration, a business can be started in India at just Rs.715 per month with a 12 month EMI plan.
Once the business is registered, becoming a seller on Flipkart or Snap deal is easy. The articles on “How to become a seller on Flipkart” and “How to become a seller on Snap deal” provide detailed information for becoming a seller on an established eCommerce platform. Becoming a seller on an established eCommerce portal like Flipkart or Snap deal or Amazon provides easy access to potential customers. Further, as aspects relating to marketing, technology and logistics are taken care of by the eCommerce platform, you can easily start generating revenue.
The story of Siddharth, a young entrepreneur, is a good example of a success story built on eCommerce portals:
If you have a great business idea but no funds to execute, then preparing a business plan would be the way to start. Today, more than ever money is not required to start a business, with plenty of private equity firms and angel investors looking to fund the next big idea. Therefore, it is important to prepare a good business plan and a pitch presentation to showcase the idea to friends, family and investors. Also, forums such as Tie Con, CII, FI CCI, etc., conduct regular pitch presentations wherein you can easily reach out to prospective investors. So make a business plan and get ready to pitch – if you want to start a business with no money.
The Central Government and State Governments have a number of schemes to promote first-generation entrepreneurs. These schemes provide seed funding for the Entrepreneur to start a business along with the required bank loan. Some of the schemes that provide such funding are NEEDS Scheme in Tamil Nadu, Self-Employment and Talent Utilization (SE TU) Program (announced in 2015 Budget), etc., Entrepreneurs with limited funds can also contact the nearest MSME Office to inquire about seed funding schemes from the government to find ideas for starting a new business with no money.
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