The growth of e-commerce companies is on the rise. The credit goes to the growing use of the Internet and the growing market for smartphones. Therefore, even small retailers are launching their stores online. If you want to start your business on the web, we suggest you follow the tips given below.

Methods

Business conducted online is known as e-commerce. Today, you can use either of two methods to launch your store on the web: you can start an e-commerce site or join an online marketplace.

• Proprietary Ecommerce Website

Starting your own eCommerce website is a difficult option as you need to develop a website, a payment gateway and then you need to launch a marketing campaign to spread the word about your products. Also, you may want to keep in mind that starting an eCommerce business requires a long-term commitment on your part. Apart from this, you have to spend a lot of money if you really want to make your site a success.

• Join an established market

Joining an already established market is an easier way to go. All you have to do is get a bank account and a tax identification number. This will help you apply more easily. The eCommerce marketplace will take care of everything else like payment gateway, marketing, technology, web development, and web design just to name a few. For a new seller like you, the workload will be greatly reduced.

Here are the registration steps you may want to take when getting started:

Record

First of all, you may want to register your company. Once your company is registered, you can open a bank account in the name of the company. This will make it easier for you to obtain the tax identification number.

tax registration

To start selling online, you need to register for GST regardless of whether you are launching your website or selling through a marketplace. You have to do the tax registration.

Bank account

As soon as you have incorporated your company, your next step is to apply for a bank account in the name of the company. If you are going to start a property company, you will also need to obtain the tax certificate. You have to get this certificate or you won’t be able to get a bank account.

Payment gateway

If you own an e-commerce site, you must have a payment gateway to process payments via debit cards, credit cards, or internet banking, just to name a few. With a payment gateway, you can accept digital payments. With a digital payment gateway, the payment made by your customers will be transferred to your bank account without delay. The payment may take up to 24 hours to transfer to your bank account.

Remember: if you plan to sell through the marketplace, you don’t have to get a separate payment gateway. The marketplace gateway will be used to make payments.

Therefore, if you want to start a business, you will need to meet the legal requirements listed above, as well as all other requirements in your area.