E-commerce in India

In 2017-18, e-commerce industry of about 2 lakh 20 thousand crores will do more than 2 lakh 60 thousand crores business in the coming years.

With the growth of 17%, the e-commerce industry is giving young entrepreneurs a chance to enter into e-commerce.

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The young entrepreneurs, who are in dilemma about the growth of the e-commerce business, does not have much to worry about as the positive growth of the Indian e-commerce industry continues. If you enter the e-commerce industry with the right business strategy and trading service or product, then this is the best opportunity. A review of the IT and Business Process Management of the National Association of Software and Service Companies has revealed that the growth of the e-commerce industry in India will be 17% in the year 2018-19. In the year 2017-18, e-commerce industry of about 2 lakh 20 thousand crores will do the business of more than 2 lakh 60 thousand crores. Whether it is B2B or B2C, both industries are offering good opportunities for a young entrepreneur.

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 Name, Logo and Company formation:

Alibaba founder Jack Ma, one of the world's top e-commerce companies, says he named the company Alibaba because he was looking at Alibaba as a global company. Therefore the importance of what the name of the business should be understood. The name should be small and easy to remember as well as unique. Another thing that should be kept in mind most these days is that your company name should not have any other meaning in other languages. Apart from this, the logo of the company is also required. In India, you can form Sole proprietorship, One Person Company, LLP and Private Limited Company from your company.

E-commerce website:

According to Business Expert, the website promotes you 24 hours, no such employee can do this. So pay more attention to designing the website which is the face of your business. You have two options for this. One is a pre-built platform while the other is a customized website. The number of templates present in the Pre-built platform is increasing. 

How to attract customers?

The number of startups in India is currently around 50,000, but the failure rate of startups is around 80%. The main reason for this is the lack of customer interaction with the business. Therefore, you must have a marketing plan ready for new business success. In the e-commerce business, you need to focus more on online marketing. In which your preparation for  SEO marketing, social media usage, promotion etc. should be completed.

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E-commerce business model:

In the e-commerce industry, entrepreneurs looking for a future need to understand its model. The business model here is of two types. One is a single vendor system, the other is a multi-vendor e-commerce store. In a single vendor system, you can sell your own product or any other vendor through its online platform. There is no limit of vendors in the multi-vendor system. The most successful business model in the global e-commerce industry is considered to be multi-vendor e-commerce. This business model gives you customer security. Like if one of your vendors fails to provide the product then you can run your business with the help of other vendor but a single vendor system does not offer this option. 

E-commerce rules India/How to register? 

In India business needs to be registered for legal recognition. First of all,  you need a Director Identification Number. You can apply for this number through the DIN application form. Apart from the PAN number, you also need a Digital Signature Certificate. After the DIN number, you can apply to the Registrar of Companies for the availability of your chosen name. You can create a company within 6 months after name confirmation. If you want to change the name, you can do so by paying a fixed fee. At the same time, GST certification, shop establishment license is also legally required.

80 per cent of startups fails due to sudden arrival in the market without any preparation. Significantly, the number of startups in India currently is around 50 thousand.

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