If you are planning a startup of Android Development business then you have to consider the many things like from product making to its selling and choosing of correct business entity so you can incorporate your business. So this article will suggest you some steps you should follow for starting an Android development business.
You have to follow below given steps
- First of all you will need an idea, if you have an idea then you will be able to decide which type of app you want to make. If you don’t have any idea then checkout hot trend so you will find an idea. This is very important for an entrepreneur to choose a correct idea for making an app.
- After finding an idea, you have to do market research on it. Market research is important because after the research you will find that this will work for you or not. For this you have to explore app stores and the other competitors. Without marketing research you may have to face some problems like failure of app.
- You have to make a plan for investment, and for developers. From starting of making an app to its launching, you have to plan everything. It is very important process for a new web development so you have to make a good plan for your business.
- You have to make a team for your app making. A good team is required so they can make an app for you within given time period.
- After planning of everything you have to execute the plan and you have to make a business entity for your web development agency for which you have to form your business and have to register your business.
Form of business
You have to form a business entity for your web development business for which you can incorporate your business as a company or as a firm. So you have to choose a business formation.
You can form your web development business as a company. You can start your own private limited company for which there is a requirement of 2 or more persons and also there is a minimum capital contribution requirement by company law. Companies are governed by Company laws and you have to comply with Ministry of Corporate Affairs. Company is a separate legal entity which can sue or can be sued. You have to comply with the registrar of the company every year, you have to file your annual return and financial statement to the registrar of the company.
Limited Liability Partnership-
You can start your web development business as an LLP for which there is a requirement of 2 or more persons. It is regulated by LLP act and Ministry of Corporate affairs. As compare to the company, there are less compliances required for an LLP. It is a separate legal entity which can sue or can be sued.
You have to make compliance with the registrar of company, under an LLP there are limited liability on partners and LLP has many benefits under Tax Laws.
You can start your web development business as Sole Proprietorship Firm Registration; it requires only 1 person for incorporation. It is oldest and easiest form of business and it does not require much compliances. There is no formal laws for regulating sole Proprietorship firm and it does not require any registration. If you want to register your business then you can register it with the Udyog Aadhar, PAN card, GST and Trademark. Registration with these will gives you protection under laws and secure your rights.
You can start your Web development business as Partnership Firm Registration, during incorporation of Partnership firm there are 2 or more person required and it does not require minimum capital contribution from the partners. Partnership firm is regulated by Partnership Act, and it does not require much compliances. There is no requirement of registration but if you want to register it then you can register it with the registrar of firms.
Also read: Android : Guide for Android App Developers?
Registration process is simple, first you have to choose your firm name, then you have to make a Partnership deed which should be signed by all partners and should contain stamp and notary. After making of deed, you can apply for registration by filing an application to the registrar of firms along with partnership deed. It has many benefits under the tax laws.
If you are planning a startup of web development then you have to make a plan for it and you have to work according to plan. Market research is very important for new business, you should research on products available in market and research on other competitor. Choosing a correct entity is also important as you can see above there are many types of form of business available you have to choose wisely. So if you are planning a startup then you have to follow all legal compliances, in case of failure of compliances you may have to face legal problems.
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