MSME stands for Micro, Small and Medium Enterprise
Some always say that one should become Ltd. Company after a certain period of time but I am not in favor of this now because it increases lot of formalities and unwanted responsibilities of any company and even its like giving control more to public. You can always see that Grand Pa of all companies IBM is still Pvt. Ltd. in India – its either IBM India Pvt. Ltd. or IBM Pvt. Ltd. Rather best option to start these days as a startup in India is to get registered under a simple MSME program like I have done for my new brand Rusty Fashions (rustyfashions.com) to be started and one should even not go for Ltd. or Pvt. Ltd as a Startup. Its the most easy process to start business and just focus on work than on to setups. Its like more the small vehicle more you can speed up even on busy lanes to reach your destinations too quickly. It has become very easy to start with your own business these days. After being a professional all your work matters more than your names and the formalities you need to do.
Now you will say that why even register with MSME program and not to work as a freelancer and the simple reason is that it will help you establish as a business name and you can open current accounts in the banks which over the time once you will grow will help you get loans and funding which are for MSMEs on the time when you will need to speed up for more growth depending upon your current account PL(Profit Loss) statements.
And always remember go for Manufacturing certificate than for service category to be on higher side in which you can do both manufacturing and the service as well as it will be helpful to you later and even you do not need to worry for GSTs in your initial years because obviously you will take to some years to understand the business and become on that much profit mode.
And still if you want to be under a Boss then your luck and earnings will depend on him because in any case being at same place you cannot grow more than him unless he is so talented to leave his seat for you first by getting another big position somewhere else for himself 😁
Let us know if you want to register a MSME and my business associates will help you in that process.
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