If you want to register a company or a newly start start-up, you need to register it in the database of Minister of Corporate Affair (MCA). Also, the e-commerce companies who accepts online payment, need to be a registered company. It is a must to register your company before your start any operation.
From the time of Independence till now, India has seen many trends in the process of registration of a company in India. This is because of the changes made in law overtime and also because of the influence of the people towards business. Here, we will see the trend of registering a company in India.
Top 5 trends in registration a company in India
Because of digitalization, many people are preferring to apply online for the registration of their company rather than going to the office and apply. For applying online, you need a Digital Signature Certificate (DSC), Director Identification Number (DIN), an account in the mca.gov.in, required submission of forms along with the required documents.
People are finding easy to register their company online than going to office. Thus, the trend of digitization among people in increasing.
- Growing number of register every year
The number of register every year is going up. This is the most significant trend if you see the data of number of register overtime. This is because of the influence of the doing business in people is increasing. Recently, you have seen the boom of start-ups in the youth. In India, the majority of the business are registered under the service sector approx. 47.8% (taken from random source). The cut down of corporate tax has also influenced in its growth.
- Ease of Registration
India’s ranked has been improved in the ease of doing business around the world, because of the change in policies and various other reasons. This is also the reason why there is increase in the registration of company. People love doing business in India because of transparency and various other factor involved. To increase the number of business, the registration process has been made simple.
With digitalization and modification in rules and regulation, the efficiency in the registration process has gone high. The time taken in the process has also reduced.
- Increase in Trademark registration-
The trademark registration of the brand’s name and logo is increasing. Now a days, people are most aware of brands and thus everyone wants to register their logo and brand name.
Firstly, you have to check whether there is already registered trademark register or not under the same class. If there is already a trademark, the trademark ministry will not accept your application. You can check the availability of your brand name on www.ipindia.nic.in under the same class.
- Increase in the registration of online business-
In this era, this is not a surprising trend. Industry has seen tremendous growth in the e-commerce business and other online businesses. Online business can’t integrate any authorised payment gateway in their website if they are not registered.
The number is going to be increasing every year.