How to Start an IT Company in India?

How to Start an IT Company in India?

IT or Information Technology Company is one of the growing sectors in India. With the huge demand for information technology, IT Companies demand is rising. Some of the famous IT Companies include wipro, infosys, etc. To start your own IT Company, it is important for an individual to have enough interest and knowledge of technology as it is one of the complex industries. In this article, you’ll get complete detail on how one can start their own IT Company in India including what IT Company is, Types of IT Company, Skills required to start IT Company, IT Company Registration procedure, Mandatory Registration for IT Company, etc, with Bizfoc.

What is an IT Company?

IT Companies are the entity who used to deal with information including processing, sending, storing, and retrieving the information, etc. They supervise all the activities related to information along with providing assistance on Information Technology problems. To start an IT Company an individual must have interest & knowledge of technology including hardware and software.

Type of IT Company

There are two major types of IT companies one can start. These types include Product-Based IT Company and Service-Based IT Company. Let’s understand these types in detail:

Product-Based IT Company: As the name suggests Product-Based Companies offer products to their customers through which they generate high revenue. Product-Based Companies include Google, Amazon, Microsoft, etc.

Service-Based IT Company: Service-Based IT Companies deal in services only and not the product. They work as a consulting company and provide services to the customers. Service-Based Companies include Infosys, Wipro, TCS, etc.

Skills Required for IT Company

To start an IT Company, there are some major skills required. Without these skills an individual IT Company might face issues. Following are the skills that is required to start an IT Company:

• Strong Planning: Developing a strong business model is one of the major skills which is required to start an IT Company. It includes choosing the right business, industry, and structure. Planning is one of the time taking processes, the more deep research an individual will have, the more successful business will go if research applied appropriately.

• Quality Research: Another major skill is quality research. Lookover the product/Service in the market, and understand the trends & needs in the market. Individuals need to research customer needs and how to fulfill them along with tech ventures.

• Pitching Skills: For Capital Raise pitching is one of the most important skills individuals must have. Understand your investors and how to pitch them for investment purposes. For pitching ventures, confidence plays the most important role.

• Building Relationships: The skill of building relationships helps in spreading the network offering you advice, funds, and support. Good Relationships with customers, investors, dealers helps in enhancing the reputation of the company.

• Navigating Biases: Looking for biases within the organisation to remove it is one of the complex tasks for any organisation. Navigating the partiality can help the organisation to grow faster.

IT Company Registration Process

To start an IT Company in India, individuals need to fulfil the registration process. One can register an IT Company either as a Public Limited Company or Private Limited Company. Following are the steps for IT Company Registration in India:

• Step 01: Obtain DSC & DIN: To register an IT Company, you need to obtain the Digital Signature Certificate of all the shareholders & Director Identification Number of the Directors.

• Step 02: Documentation: Once you obtain the DSC & DIN, gather the required details along with the documents including MoA & AoA of the Company.

• Step 03: Incorporation Form: Next, you need to file the Incorporation Form SPICe+ Form the registration process. On the final approval from the MCA, you’ll get the incorporation certificate.

• Step 04: Obtain Mandatory License & Registration: After getting the Incorporation Certificate, you need to obtain a certain mandatory license and registration such as Trademark Registration, GST Registration, Copyright Registration, etc.

Mandatory Registration for IT Company

There are some Registration for IT Company Operations which can help the company in maintaining a unique identity. These Registrations are as given below:

• Trademark Registration: Trademark of any company is its unique identity. It works as a unique sign which can be used by the company only. It includes design, symbol, name, shape, colour, logo, etc. It is not a mandatory registration for the company but it can help to create a brand identity for the IT Company.

• GST Registration: If the turnover of the company exceeds ₹10 lakh in special category states and ₹20 lakh in other states then GST Registration is mandatory for IT Companies (Only if Involves in Services).

• Copyright Registration: Copyright Registration is quite similar to Trademark Registration. Trademark Registration provides a unique identity while copyright registration helps you to protect your work from infringement. However, Copyright Registration is also not mandatory.

Why Choose Bizfoc?

Bizfoc is one of the top consultants who offers IT Company Registration to its clients at the most cost effective rate. We have a team of professionals who have experience in registering an IT Company. Also, we ensure your company remains compliant with all the legal requirements. We assist you throughout the process so that you can focus on your business goals. Start your IT Company in India Now!

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