Web and mobile development company. I have a partnership firm so a partnership deed with Gumasta certificate did the job which was followed by a opening up current bank account and i was all set to start the journet of a life time.
The business entity that i run my business is a Private Limited Company, it depends on the kind of business and objectives of the promoters in deciding the kind of business entity one needs to register. Sole Proprietor, Partnership is easy to register, forming a company can be a bit tedious. If you need any support on the same kindly write on [email protected]
My Delivery Express is a private Limited firm. We know that the responsibilities to handle a Private Limited are much complex, but better handle the responsibility as early as possible and also it gives a safe side to get funding.
I have been in IT Industry since 2003, i have startup my own PVT. Ltd. Company since 3yrs. we are providing full IT Solution like ERP/CRM Software, POS for Restaurant HO & Branch fully integrated solution, Web Portal, Web Site, Android/IOS Apps, Graphics Designing, Logo Designing, Digital media marketing etc.
As a startup experience was awesome, you mostly got business from reference or chain, I heard about e-Chai from one my best couligue, so i did join it, i hope i would have awesome experience here.
The journey of TriCore IT Solutions started as a partnership firm as we didn't want to spend much money on company registration to keep initial investment low. And from the very beginning we had the target of Pvt Ltd once business takes off and we have sufficient understanding of handling a Pvt Ltd company.
Registering a partnership firm was easy. One CA helped us form the partnership firm and take gumastadhara along with other required certificates. Using that we opened up bank account and we were ready to sail the sea of entrepreneurship.
After one year or so, we got our company registered as Pvt Ltd (TriCore InfoTech Pvt Ltd) and since then running it successfully. Registering a Pvt Ltd takes longer and you do have to keep many documents ready as obviously it is a national level entity. Though it increases some hassles and paperwork but you do get some perks of having a Pvt Ltd company.
Some of the main benefits would be:
- it gives a good impression on client
- it is easier to get loan from bank
- investors will give more preference to pvt ltd company than a partnership firm
Overall the experience of registering companies has been good. Though, in the beginning, due to lack of knowledge and experience, it took longer and somewhat frustrating at some points but now I have got enough knowledge that registering a company doesn't sound like a big deal.
My Entrance Automation firm Porta Solutions is a Proprietorship firm, the registration included getting Ghumasta Certificate, Professional Tax Certificate followed by a current account.
I am into successful travel business having a partnership firm and have justed ventured into social entreneurship with an idea of spreading awareness regards to traffic discipline , sanitation , cleanliness etc . I have a good CA who completed all the formalities for me for registaring as a Pvt ltd comapny ..
Varma Alluri
Financial Management Services.