How to register software company in Chennai
Basic Business Registration : Proprietor ship registration / Partner ship registration / Private limited company registration.
GST Registration: optional at the initial stage and mandatory if you cross Rs.20 lakhs in a financial year. But required when you are dealing with international clients.
Import-export code registration: Apply for import export code registration if you are working in overseas projects and receive international payments. You will also need ie code digital signature which also referred as class 2 digital signature for Import Export code registration.
Starting your new software company business.
Software development, web development, apps development business had become one of the top-earning business sectors in the country, this business requires a lot of innovation and technical expertise. A person with the good innovative capability and technical background have very good chances of successful business.
Advantages of software company
1. Easy setup.
2. The scope of quick expansion of business across borders of the country.
3. Successful product or app can make you richer in overnight.
4. The minimum cost of setup.
1. Techincal Background.
2. Lack of innovative products.
Why it is a business with good fortune.
A single app with good user benefits and features can make you super rich in overnight, it is all about how you reach your potential users and make them understand its benefits, some of the examples are whats app, Instagram, Facebook. So think about how to start a software business company in Chennaiquickly if you are having all other prerequisites.
1. Develop your own product – Developing your own software products give good strength for survival and future growth, an application like became successful because of aggressive launch pricing and reaching potential customers.
You can develop billing application, accounting package, order management system, customer management systems. The only drawback in this strategy is a heavy initial investment.
2. Traditional service provider – Those who are having limited desire to earn profits and satisfied with earning according to time they spend can with this method it is the safest method to the software business. You cannot become richer in overnight or month this is like any other business on how you market and how many customers you have.
Operational challenges and how to overcome
Salary – Salary is one of the main aspects to consider in software development business, a good software developer will always cost very high and will be a major portion of your monthly expenses, sometime you will be able to earn money only for paying your staff salary at initial stages. It is always recommended to start a software development in a partnership or to get external funding, we always recommend to have a good practical business plan before starting any business.
Project exceeding expected development time – This is one of the reasons for losses and poor customer experience, have well-documented requirement before giving a quote, stick to the requirement document, when project cannot be quoted appropriately, you should be bold enough to mention this thing before commencement of the project and have a well-documented agreement.
Marketing – Every business suffers in this competative environment, identify your target customers and design your marketing policy. There are a lot of lead genaration service provider providing affordable services which can be relied on for startups but this cannot be used for a long time.
Location – Co-working space is the perfect place to start your software business it gives your customers good impression and you can wipe off freelancer thought among your customers.