Dear all,
Can anybody tell me what is the exact process to start a recruitment firm? Do we need to register a consultancy name? Or can I start a recruitment consultancy firm after opening a bank account?
Regards,
Aditya
From India, Mumbai
Can anybody tell me what is the exact process to start a recruitment firm? Do we need to register a consultancy name? Or can I start a recruitment consultancy firm after opening a bank account?
Regards,
Aditya
From India, Mumbai
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Hi Aditya,
I hope the information below may be of some use to you. For any further queries, please feel free to contact me at
.
I will be very straightforward and will write the points in steps for better understanding.
1. Decide on a name for your company: Deciding on a name for the company is very important as this is the brand with which you will be working for the rest of your life. You should like the name and be able to relate yourself to the company.
2. Buy a domain name: You should buy a domain name for your company. It's compulsory because nobody would trust a company that doesn't have a good website, and a domain name is essential for having a website. Domain names are inexpensive, around Rs. 450/year, and you can easily register a domain from this link. You can also check whether your company name is available or not by clicking this link.
3. Get your website designed and hosted: The next step is to get a professional website designed for your company. Designing could start from Rs. 7,000, but I would recommend investing a little more in website designing and hiring a professional website design company. Professional design could cost you starting from Rs. 15,000, and basic hosting for your website could cost around Rs. 1,000 per year.
4. Choose the type of company you want to open: Deciding which type of company you want to open is something you have to do. There are 4 types of companies you can form in India:
- Sole Proprietorship: A sole proprietorship, also known as a sole trader, is a business entity owned and run by one individual where there is no legal distinction between the owner and the business.
- Partnership: A partnership is a business entity in which partners share profits or losses of the business.
- Private Limited: A private company incorporated under India with shareholders having limited liability.
- Public Limited: A type of limited company in India permitted to offer its shares to the public.
5. Starting as a sole proprietorship firm: If you are starting alone, I recommend starting as a sole proprietor because it's easy to start and you have total control. There aren't many formalities for this kind of firm; you just need to get a current account in your name, and you are ready to do business. However, if your company turnover reaches 10 lakhs per year, you will have to register for service tax.
6. Open a current account in any bank: Opening a current account is crucial for business. If you are opening a sole proprietorship firm and have your service tax registration done, you can open an account in any bank. If you haven't applied for service tax registration, you can opt for government banks. IDBI bank is a good option for opening a current account. You will need a company letterhead, visiting card, and company stamp to open a current account.
7. Buy Naukri or Monster login: You need to buy Naukri or Monster login to supply candidates to your clients. This is a costly part of the consultancy business, but you need to buy it to get started. Naukri login costs around Rs. 60,000 for 3 months, and Monster is almost around Rs. 35,000 for 3 months. You can buy it anytime, but I recommend buying it once you get your first client. Don't forget to negotiate as you might get a better deal.
8. You are ready to do business. Go ahead and start searching for clients.
Cheers!
From India, Calcutta
I hope the information below may be of some use to you. For any further queries, please feel free to contact me at
I will be very straightforward and will write the points in steps for better understanding.
1. Decide on a name for your company: Deciding on a name for the company is very important as this is the brand with which you will be working for the rest of your life. You should like the name and be able to relate yourself to the company.
2. Buy a domain name: You should buy a domain name for your company. It's compulsory because nobody would trust a company that doesn't have a good website, and a domain name is essential for having a website. Domain names are inexpensive, around Rs. 450/year, and you can easily register a domain from this link. You can also check whether your company name is available or not by clicking this link.
3. Get your website designed and hosted: The next step is to get a professional website designed for your company. Designing could start from Rs. 7,000, but I would recommend investing a little more in website designing and hiring a professional website design company. Professional design could cost you starting from Rs. 15,000, and basic hosting for your website could cost around Rs. 1,000 per year.
4. Choose the type of company you want to open: Deciding which type of company you want to open is something you have to do. There are 4 types of companies you can form in India:
- Sole Proprietorship: A sole proprietorship, also known as a sole trader, is a business entity owned and run by one individual where there is no legal distinction between the owner and the business.
- Partnership: A partnership is a business entity in which partners share profits or losses of the business.
- Private Limited: A private company incorporated under India with shareholders having limited liability.
- Public Limited: A type of limited company in India permitted to offer its shares to the public.
5. Starting as a sole proprietorship firm: If you are starting alone, I recommend starting as a sole proprietor because it's easy to start and you have total control. There aren't many formalities for this kind of firm; you just need to get a current account in your name, and you are ready to do business. However, if your company turnover reaches 10 lakhs per year, you will have to register for service tax.
6. Open a current account in any bank: Opening a current account is crucial for business. If you are opening a sole proprietorship firm and have your service tax registration done, you can open an account in any bank. If you haven't applied for service tax registration, you can opt for government banks. IDBI bank is a good option for opening a current account. You will need a company letterhead, visiting card, and company stamp to open a current account.
7. Buy Naukri or Monster login: You need to buy Naukri or Monster login to supply candidates to your clients. This is a costly part of the consultancy business, but you need to buy it to get started. Naukri login costs around Rs. 60,000 for 3 months, and Monster is almost around Rs. 35,000 for 3 months. You can buy it anytime, but I recommend buying it once you get your first client. Don't forget to negotiate as you might get a better deal.
8. You are ready to do business. Go ahead and start searching for clients.
Cheers!
From India, Calcutta
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