Are you also wondering how to start an e-commerce business in India?
First of all, let just take a look at why e-commerce is booming in India. The affinity towards online commerce and high economic development in India has opened new corridors for business opportunities the world is witnessing the latest trends through eCommerce.
With the advancement of technology, India also is marking tremendous growth in e-commerce. The fast-paced lifestyle forces people to buy products online.
Meanwhile, most millennials have the habit of closely monitoring multiple online stores like; Amazon, Flipkart, Snapdeal, etc, keenly looking out to snatch a lucrative offer.
Studies show that India will surpass the US in E-commerce and will become the largest marketplace for E-commerce by coming 2034. Even market statistics suggest that the Indian eCommerce market is growing at a rate of 25%, all set to hit the $100 billion mark by 2022.
So, without wasting any more time! Let’s jump into this blog.
Basically straight to the point, there are two ways to set up an e-commerce business in India; firstly by joining an established e-commerce marketplace and secondly by building your own e-commerce website. Commonly known as:
Like every kind of business venture, one needs to have a strong idea about their plans and goals to achieve.
Be patient and ready to spend ample time to make your plans work out in the best way, choose a perfect niche to accomplish your business goals in the best way around the corner.
For flourishing business growth, you need to ensure that your priorities need to be set accurately.
Advance and straight planning will definitely help you keep your entrepreneurial journey a success.
Right from putting your priorities straight to familiarizing your product across the globe, you need to plan everything and set at the proper time. Given below are some of the things you should include in your pre-business plan to set up an e-commerce business in a brilliant way.
“A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.” -by Seth Godin
Many entrepreneurs fail to recognize the importance of customizing their electronic commerce store to meet the expectation of customers.
They underestimate the importance of the eCommerce logo. But logos are meant to be a quick, but full, representation of your brand.
When you start your own website, you need to register your company and make sure that the establishment is registered and operates within the set guidelines.
Only after the LLP registration, you can open a bank account for your company. Also, only then you will be able to easily get your GST documents.
Find these essential steps that need to be involved while Registering a Company or LLP:
1. Apply for the Director’s Identification Number (DIN), using the official website of the Ministry of Corporate Affairs.
2. Ensure that you have your Digital Signature Certificate along whit the Permanent Account Number (PAN).
3. After setting the DIN, either apply to the Registrar of Companies (ROC).
4. Then through the official website of the Ministry of Corporate Affairs, ensure that the domain name you have decided for your company is available.
5. Once you get the confirmation on your business name availability, you can incorporate the proposed company within six months.
6. Apply for Shops Establishment Licence and GST certification, that will be beneficial for Professional Tax (PT) and Payment Gateway Integration.