Start online business in India
How to start eCommerce business in India
The development of technology is right n front of our eyes. But, as the technology has developed we have also realized that eCommerce is also picking up the pace. Every day millions of people indulge in e-commerce activities. Apart from technology, the trend and lifestyle have forced people to buy products through the internet. Thus, one of the best business ideas these days would be to start online business. Unfortunately, most of the people do not know the procedure to start ecommerce business. Through this article, you will be able to learn the ways to start ecommerce business.
Setting Up the Business
The first step you need to do for your e-commerce business is to set it up. You can do it in two ways; building an own e-commerce website or joining an established e-commerce marketplace. Building authority for your online store is quite difficult than a partnering with a marketplace. When you start your own website, you need to take care of everything right from domain purchase to website development. On the other hand, in a marketplace, all you need to do is have some money to purchase their package. The rest is taken care by the marketplace.
Registering Your Company
When you start your own website, you need to register your company. The reason is that only when your LLP is registered, you can open a bank account for your company. Also, only then you will be able to easily get your GST documents. On the other hand, when you sell products on the marketplace, you do not require such legalities. You can sell directly, but you do not get protection towards litigation.
Once you are done with the company registration, you need to register for GST and other tax norms. This is essential for all the business owners, be it the one who starts their own website or a marketplace.
Once all the tax registrations are done, you need to open a bank account of your business name that you have online.
Once all the legalities are done, you need to ensure that you have a payment gateway embedded in your website. It is very essential so that the customers can pay for the products directly from the payment gateway. The payments made through the gateway would directly get credited in your bank account.
When you plan to start a business through a marketplace, you need not worry about the payment gateway. You would get all those with the subscription.
An online shopping portal is incomplete without a shipping solution. Once the order is placed you need to also ship it to the customers. Without a reliable shipping partner, you would find it very easy to ship all the products to the customers. Moreover, you should also ensure that the shipping partner charges you with a reasonable price to ship the products. Customers would not be ready to purchase any products if the shipping charges are too high. However, for people who want to start the business through a marketplace, shipping would not be a problem. The marketplace would take care of all these by themselves.
Now that you know what to do, what are you waiting for? Be quick and start working on your online store now.