Indiamart is a popular online marketplace where you can find every product on the website. Basically B2B business is where a company is purchasing products from other companies or from small businesses for e.g. a car company is purchasing tire from other company so they can use tire in their cars. Indiamart is a B2B business and if you want to start your own B2B business like Indiamart then you have to take care of legal registration so in future you don’t have to face any legal trouble.
What is B2B Business?
B2B means business to business, it is a model that focuses on selling products and services to other companies for e.g. a car company is purchasing tires, battery from other companies so they can use these products in their cars. Nowadays Amazon, PayTm, Flipkart is very popular for online B2B business because many sellers are selling their products on this website or selling to this website.
How to start a B2B business
First, you have to do market research and then you have to make plans for your products and you have to decide where you want to sell your products. You need to do market research so you will find about the competitors, and their selling prices so you can sell your products on better prices so the customer will be attracted to your products.
If you want to create a website like Indiamart then you have to create a unique website for your business where you can sell your products. A unique website is required because there are many websites are available on the market and you need to be different from other competitors.
After making the website you can list your products on the website and also you can invite another seller on your website so they can sell their products on your website.
Business registration is very important for your B2B business, you can make your own company or you can incorporate your business as an LLP firm. Other legal registration like Udyog Aadhar registration, GST registration, Trademark registration, LLP Registration will protect your business.
Business registration is the most important and mandatory for business because without registration you may have to face legal trouble and registration of your business will give your protection under the laws. If there are two or more partners in your business then you can start your Limited Liability Partnership (LLP) firm. LLP is a separate legal entity from its partner because of a partner not personally liable for other partner’s actions. It is very to form an LLP. If you want to form an LLP then you have to register your LLP under the Ministry of corporate affairs.
LLP registration can be done through online mode for which you have to visit the official website of ministry of corporate affairs. The process of LLP registration is very easy first you have to fill the incorporation form and then have to submit the form online along with registration fee. LLP is much easy to form as compared to forming of private limited company and LLP does not require many compliances. Every year you have to comply with the rules and regulation of the Ministry of corporate affairs, you have to file your annual financial statement to the MCA.
After incorporation of your business, you have to file your income tax return every year because it is mandatory to file an income tax return every year. In case of failure of income tax filing, you may have to face legal consequences. Nowadays it is very to filing an income tax return because now income tax efiling is available you can file your income tax return online for which you have to visit the official website of income tax e-filing.
If you are thinking of starting a business like Indiamart then you have to take care of many things like you have to make proper planning and have to invest smartly in your business. Legal registration is a most important thing for a business and you can incorporate your business as LLP firm and LLP registration is very easy you can apply through online mode. As above mentioned income tax filing is also important and mandatory and you can now income tax e-filing can be done through online mode which is less time to consume. So if you are thinking of starting a B2B business then you should take care of above-given points.