Complete information to start your online E-commerce business
There is no limitation to start an online business, But few basic steps need to be followed as per business law. Basically online business can be handled anywhere anytime, But you should have a business operation place to handle daily operations. However, there are basic documents to start an online business,
*Owner ID proof: Business owner pan card,
*GSTIN Certificate: Goods and service tax registration certificate,
*Canceled cheque: Company account cheque as per GST document,
*Business address proof: Rental agreement, Electricity bill.
Above mentioned documents are based on a proprietorship company and there different types of documents required for partnership firm and individual (Without GST) Business.
Types of firm or company or Organization and Documents required to start an online business today
*Sole Proprietorship Firm: A organization owned and handled by one person, Normally company strength will be less,
*Partnership Firm: A organization owned by more than one person,
*Limited Liability Company: A partnership organization comes with two types of partners,
General Partner: Equal rights
Limited partner: Limited rights
*Corporation: Legally as a single Organization owned and handled by shareholders. Like a person, a corporation can incur debt and responsible for repayment. This stands in contrast to a partnership where particular individuals may be liable for debts incurred.
*Nonprofit firm: Prohibited from distributing a profit to its owners. Religious organizations, academic associations, environmental groups, most zoos, industry associations, lobbying groups, many hospitals, credit unions (a type of bank), labor unions, private universities, and charities are all organized as nonprofit corporations.
Normally Proritership organization is smaller than a partnership firm and partnership firm is smaller than the corporation. Usually, Propritership and partnership are the major rolling firm types in the business industry. As we already mentioned proprietorship firm documents to start an online business, But the partnership is little different from few more document required, MOU and partnership deed with Company pan is mandatory.
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