To set up your own business, you have to consider the type of industry in which you want to build your business.
1. Business & Information
3. Finance & Insurance
4. Food & Hospitality
5. Health Services
6. Real Estate
To start a business, one can register their business as Private Limited Company or Public Limited Company.
In this, by paying a share capital fees owners subscribe the shares of the company and by subscribing the shares of the company, owners become the shareholders of the company.
A Private Limited Company has its own separate legal entity. Under this, the liability of the shareholders is limited to the extent of the share capital contributed by them. Private Limited Company formed by registering the company with the registrar of companies (ROC).
Memorandum of Association and Article of Association is drafted and signed by the promoters of the company.
Minimum two directors are required to be appointed for day to day operations of the company.
Accounts of the company must be prepared according to the provisions of the act. Annual compliances need to be done in the company.
In Public Limited Company there must be at least 7 members and unlimited maximum members. A public limited company can be listed on a recognized stock exchange or it can be unlisted. Listed public company shareholders can trade its shares freely on a stock exchange.
In public limited company, there are more compliances & public disclosures. There is also a requirement of appointing independent directors on the board. It is a separate legal entity and its existence is not affected by the death, retirement, or insolvency of any member.
Source by: http://www.sooperarticles.com/business-articles/consulting-articles/industry-specific-company-incorporation-1639594.html
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