Tag: 2021 small business ideas

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Startup

New Rules for OPCs To Directly Benefit Startups, Small Companies and Innovators in India; Check List of Amended Rules for One Person Companies

startup ipo india

New Delhi, February 6: In a bid to directly benefit Startups in India, especially those who are supplying products & services on e-commerce platforms, the incorporation of  is being incentivized by amending the Companies (Incorporation) Rules. This would benefit the startups and innovators in the country to bring in more unincorporated businesses into the organized corporate sector.

This is being done to allow OPCs to grow without any restrictions on paid up capital and turnover, allowing their conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days and also allow Non-Resident Indians (NRIs) to incorporate OPCs in India.

In addition, the fast track process for mergers under the Companies Act, 2013 has also been now extended to also include mergers of Startups with other Startups and with Small companies, so that the process of mergers & amalgamations is completed faster for such companies.

The amendment notification was issued on February 1, 2021. The amendments to the Rules governing OPCs will cover the following, from April 1, 2021:

  1. Previously NRIs were not allowed to incorporate OPCs. Now any natural person, who is an Indian citizen, whether resident in India or otherwise would be allowed to form an OPC.
  2. For being considered as a resident in India, the residency period has been proposed to be reduced to 120 days from 182 days for NRIs.
  3. Rule relating to voluntary conversion unless OPC has completed two years from the date of incorporated is proposed to be omitted and with effect from 01.04.2021, Conversion of One Person Company into a Public company or a Private company shall be permitted anytime. A One Person company may be converted into a Private or Public Company other than a company registered under section 8 of the Act, after increasing the minimum number of members and directors to two or minimum of seven members and three directors as the case may be,
  4. Similarly the limitation of Paid up capital & turnover presently applicable for OPCs (paid up share capital of fifty lakhs rupees and average annual turnover during the relevant period of two crore rupees) is being done away with so that there are no restrictions on the growth of OPCs in terms of their paid up capital & turnover.
  5. Rationalization of e-forms applicable for OPCs by omitting e-Form No. INC-5 and modification of e-form INC-6 (application for conversion from OPC to a Private company or a Public company and also Private company to OPC.
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Business motivation

3 Innovative Business Ideas that will re-shape your Career in 2021!

Best Online Business Ideas 2021
Business Ideas

‘Every negative incident has a positive intent’. And with the recent Covid-19 pandemic, the startup ecosystem of India is expected to go uphill.

With a young population that is willing to experiment with their business ideas, The Indian business landscape is preparing to witness an expansion.

The year 2020 has opened many opportunities despite the setbacks. This might have proven as a setback for the entire world, but it also has encouraged us to think beyond the obvious.

Many young job seekers are now actually thinking about opening a start-up. There are plenty of government schemes to support some of the best business ideas.

But having a unique business idea is important. If you do not have an idea now, we have churned out a list of small business ideas. These new business ideas need very low investment and you can manage it online.

Here are some innovative online business ideas in India that you can make use of to take your career next level:

  1. Content Writing

Writing is an excellent way to start earning online by putting your creativity to its best use. If you are looking to start your business with low or zero investment become a writer. From huge companies to mid-level companies, content is in demand everywhere.

You can become a proofreader, article writer, copywriter, content writer, blogger, and e-book writer. If you love creating heartwarming brand stories then you can get promotions and collaborations and earn a good amount monthly.

  1. Web Designer

Becoming a web designer is one of the best online business ideas. Over the year, how a business makes its impression and establishes itself amongst its niche market has become important. Hence, every company needs a website, logo, and attractive pictures to increase its brand awareness.

You can become a logo designer, website mockup designer, photo editor, icon design, photo retouching, cartoon artist, and poster designer. All you need to do is design a portfolio to showcase your best work to potential clients.

  1. Digital Marketing

‘Success is not changing reality; it is changing the mentality behind the reality’. The year 2020 has channeled our focus into finding more productive ways to earn money.

Digital Marketing is an excellent small business idea that requires no initial funding. .  It has thrown the traditional methods of marketing out of the window and showed us that businesses can operate digitally as well.

Search Engine Optimization, Search Engine Marketing, Social Media Marketing, Affiliated Marketing, Pay per click, advertising, E-mail marketing, and content marketing are all branches of Digital marketing. You can increase monthly income to manifolds. Every company needs a digital marketer to boost their reach, and you can help them achieve their business goals.

Whether you are a student or a professional, with our small business ideas you can start your business that will do well in the coming year. Stay updated with our latest blog posts and subscribe to our YouTube videos to get more business ideas.

 

 

Categories
Startup

Business Ideas For 2021: Here Are 4 Business Ideas Which You Can Start Next Year

Business Ideas
Business Ideas (Photo Credits: Picpedia)

Mumbai, December 11: If you are thinking of starting a  new business in 2021, then you need to do the planning to go ahead with it. It is very important to finalise a great business idea if you want to become an entrepreneur.

The COVID-19 pandemic has changed a lot of things, from the way people consume products and services to several other things.  An idea which might have looked attractive in 2020, may not be profitable in 2021 because of the changing landscape. Creative Businesses: 5 Viable & Budget-Friendly Start-Up Ideas for People With Creative Mind.

We have listed 4 small businesses ideas which you can start in the coming year.

  1. Online Teacher: Due to the lockdown, schools shut and they were forced to go online to impart education. There was no other way for people to get knowledge. The pandemic still continues to rage and there is no certainty on the reopening of schools. Therefore, online teaching business is surely a profitable idea which you can start in 2021. All you need is a knack for teaching and basic knowledge of technology.
  2. Digital Marketing: Due to the pandemic, brands have strengthened their presence in the online domain. Therefore, digital marketing is a great line, which is growing and has a great future in the days to come.
  3. Freelance editor, copywriter: Whether you write blogs, web content or press releases, there are plenty of companies who will pay for your services. You can use this knowledge and bring to the table of your clients, and help them to craft a strategy to attack specific keywords that their target audience is already using in their online searches.
  4. Home Chef: This is another business which you can explore in 2021. The business doesn’t entail a big investment and can be done from their own kitchen. All you need to do is cook great food and market well on the social media channels.