Now I am starting an IT company. What should I do in the beginning?

Well, we need more entrepreneurs (A small tip — Visualize whatever you are going to do, if u feel viable continue or else revise the direction not your goals)

Let us understand what all the prerequisites needed to start an IT company…

  1. If you are a sole owner, then opt for a proprietorship or if you have a partner then opt for PVT LTD or LLP
  2. Proprietorship registration will cost you 3k to 5k ( to start with go for indiafiling or cleartax, or any individual auditors) per annum recurring maintenance expense would be 4–5k
  3. Pvt LTD will cost you upto 30k–40k ( you can reach out to Indiafiling or clear tax or any individual auditors) per annum recurring maintenance expense would be 40k
  4. Regarding GST, till you have NO sales, you can report as NIL, if you have sales then you will have to Pay GST its a must
  5. Indiafiling or cleartax or any auditors only will help u to open a current account
  6. Once legal is done, let us come to IT portion
  7. Dont just hier any employee, until you have made the fixed task for them, its ok for you to be alone as a resource to your own company
  8. One employee hiring will cost you laptop/desktop + work station + salary (your first month investment will become 50k for no reasons)
  9. Remember that you dont have to prove anyone that you are a company owner, your business and financials has to talk…
  10. If you are a non technical background, please go and meet technical knowledge person or friend acquire enough basic knowledge through a lunch or dinner will do
  11. Until you have a project or client or concept on hand, you are not hiring anyone… (you might be thinking i am crazy but this is reality, once you lost money or not giving salaries on time people will start cursing you)
  12. If you are a start up ask your friends come to office and start discussing and make a plans as a consultants for your company
  13. Based upon the right requirements start hiring process, no need to have HR, Admin and all till you have a stablized incomes...
  14. Let me assume you are having good cash on table, still i suggest you to spend your money wisely
  15. For more advise and help you can reach out via whatsapp for appointment s and advises 9113885227

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