E-commerce Portal Registration : Process & Benefits
E-commerce or electronic commerce or internet commerce refers to buying and selling of goods or services using the internet or Web portal.
Nowadays, Online Shopping has become one of the common thing. As it is a convenient way to buy goods or even services and with the help of just one click you can get the job done without actually going to the market. Today, most of the customers do not visit the retail shops and also they are not at the mercy of the traders selling particular merchandise. The current scenario of online shopping has truly transformed the market and has become a customer-centric market from a seller-centric.
Benefits of e-commerce business:
Different ways to start your own e-commerce platform
Basically, it depends on your business model and requirement that how would you like to set up your new e-commerce business. Simply there are two ways to choose from when setting up your online business:
Building your own e-commerce website
To start your own e-commerce venture is rather a complicated option to choose as it would require a website development, payment gateway integration, online marketing set-up, logistics implementation, and many more requirements.
Also, one big concern lies in the case of its own platform that would be a logistic facility that would involve or require a huge cost to make goods available from the warehouse to the place of customer or consumer. However, having your own online store would help you build a brand name and image for yourself and it’s a very successful business strategy in the long-term.
Joining an established e-commerce Marketplace
Being a part of an established e-commerce marketplace (such as Flipkart, Amazon, E-bay, etc.) is comparatively an easy option as compared to building your own e-commerce website and an easy way to get online with no time. To become a part of an e-commerce marketplace, all you need to have is a bank account and a Tax registration number so that you can apply easily.
The marketplace will take care of everything, i.e. website design, website development, technology, marketing, payment gateway, a logistic facility which would involve the movement of goods from the place of the seller to the place of customer or consumer, etc. thus reducing the workload for new sellers. Also, a seller can join multiple e-commerce marketplaces at the same time to mark their presence online, thus making it easier to cover a wider group of customers or consumers.
Choosing the Legal Structure
Licenses Required for starting as an e-commerce business:
Documents required for getting registered as a sole proprietor:
Documents required for getting registered as a Company or LLP:
Step 1: It involves deciding whether to set up a private company or a one-person company or limited liability partnership, etc.
Step 2: It involves an application for PAN (Permanent Account Number) in the name of the company or LLP which has been as set up in step 1.
Step 3: Application of opening of Bank Account in the name of the company or LLP as set up in step 1.
Step 4: Rent agreement, electricity bill, and No objection certification (NOC) to the property where the business will be conducted by the company or LLP as set up in step 1.
Step 5: Set up payment gateway which allows the processing of credit card, debit card, net banking, and cash card transactions through the e-commerce business.
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