Understand you Start up Costs

Are you starting a business and confused about the amount of money that you will need to spend on it? Well, there is no reason to fret. You have to simply have an idea of the major expenses that you will have to take in your business.

The startup cost depends on the type of your business. For example, a furniture retailer will definitely need a shop where he can display his products and some staff to handle it. If you are into online retail business, then you might be operating from your house and you might need any physical office space at all. In such cases, you can depend on virtual office solutions which can increase the credibility of your business at really low costs.

Most of the startup expenses will comprise of the following.

Sales costs: You will need to stock your products in advance and in some case purchase the raw materials and manufacturing equipment.

Professional fees: You will also have some expenses for setting up a legal structure for your organization. You will also need money for stuff like trademarks, copyrights, patents and for drafting partnerships.

Administrative costs: Various licenses are required for setting up your business in India. You might also need expenses for shipping your products, utilities, phones and other office costs.

Technology costs: This is also a very important aspect as you will need to set up high speed internet for your business. Some businesses will also need several computer hardware and software which can be quite expensive. Website development also would come under this.

Wages and benefits: You will also have to put aside money for employee salaries, workers compensation taxes and other benefits.

Sales and marketing costs: Marketing costs and sales are also a requirement.

Calculate all your expenses well in advance so that you don’t run short of money and have to close down due to lack of funds. Having a clear idea of the expense requirements will always help businesses in the long run.

Bank Loan Application forms In Kerala for Business Finance

If you are looking for a business loan from a bank in Kerala and don’t know where to find the application forms, you are at the right place. Download Business Bank Loan Application forms for Kerala Banks here.

You can now easily access the bank loan forms for various banks in Kerala, India through this page. We have collected them for your easy reference. Please find the list of bank loan forms for almost every bank in India.

Bank of India: Application Form for MSE – upto 25 Lac: Application Form for MSE – upto 25 Lac

Bank of Baroda: Application Form for MSEs: Loan Application Form for MSEs

Bank of Maharashtra: Application Form For MSEs: Application Form For MSEs

Canara Bank: Application Form for MSEs: Application Form For Loans To Micro And Small Enterprises MSEs

DCB: Application Form for MSEs: Application Form for Micro & Small Enterprises

HSBC Bank: Application Form for MSEs: Application form for credit facilities for Micro and Small Enterprises

Indian Overseas Bank: Application Form For SME – upto 10 Lac: Small And Medium Enterprises Application Form For Credit Facilities Upto Rs.10 Lacs

Application Form For SME – 10 Lac to 50 Lac: Small And Medium Enterprises Application Form For Credit Facilities Over Rs.10 Lacs & Upto Rs.50 Lacs

Application Form For SME – 50 Lac to 2 Crore: Small And Medium Enterprises Application Form For Credit Facilities Over Rs.50 Lacs & Upto Rs.2 Crores

Application Form For SME – above 2 Crore: Small And Medium Enterprises Application Form For Credit Facilities Over Rs.2 Crores

IndusInd Bank: Common Application Form for MSMEs: Common Application Form for MSMEs

Karur Vyasa Bank: Common Application Form for MSMEs: Common Application Form for MSMEs with Checklist of Required Information

Punjab and Sind Bank: Common Application Form for MSMEs: Common Application Form for MSMEs with Checklist of Required Information

Punjab National Bank: Application Form – upto 10 Lac: Application Form – upto 10 Lac

Application Form – 10 Lac to 50 Lac:
Application from for SMEs for Loan Amount Above Rs. 1o Lakhs and Upto Rs. 50 Lakhs

Application Form – 50 Lac to 2 Crore: Application from for SMEs for Loan Amount Above Rs. 5o Lakhs and Upto Rs. 2 Crores

Dena Bank- Application Form for MSEs: Application Form for MSEs

State Bank of Bikaner and Jaipur- Application Form for MSEs: Application Form for MSEs

State Bank of Hyderabad – Application Form for MSEs: Application Form for MSEs

State Bank of India: Application Form for SSI – upto 10 Lac: Application Form for SSI – upto 10 Lac

State Bank of Mysore: Application Form for MSEs – upto 25 Lac: Application Form for MSEs – upto 25 Lac

Syndicate Bank – Application Form for MSME – upto 2 Crore: Application Form for MSME – upto 2 Crore

Union Bank of India – Application Form for SSI – 25 Thousand to 2 Lac: Application Form for SSI – 25 Thousand to 2 Lac

United Bank of India – Application Form for MSE: Application Form for MSE

Indian Bank – Application Form for MSE: Application Form for MSE

Axis Bank – Link to bank website

HDFC Bank – Contact Details of the Bank

ICICI Bank – Leave Your Contact Details to ICICI

IDBI Bank – Loan Application for SME: Online Loan Application Form

ING Vyasa Bank: Loan Application for SME: Online Application Form

State Bank of Travancore: Loan Application for SME: Online Application Form

Vijaya Bank – Loan Application for SME: Online Application Form

Why do Small Businesses Fail?

There are so many small businesses starting up in India now. However, it is a sad fact that most of these businesses do not flourish due to several reasons. Several such new and small businesses had to close down due to improper planning and strategy. Some of the main reasons why small businesses fail are as follows.
Lack of a business plan: This is among the most common reasons why some small businesses have to shut down very soon. After you have decided to start a business, there are so many things that you have to plan. You must make a proper business plan based on careful analysis of the market.


Running out of money before you start making profits: This is another major reason why businesses are often forced to close down. Lack of operating funds is a huge problem that is faced by small ventures. Quit being over optimistic. Plan for some extra cash, you will mostly need it.


Lack of strategic planning: you have to remember that businesses can face competition from several areas. The owner of the business must have a clear cut idea of the market, its direction and the profitable opportunities available in the market.

Lack of financial analysis: Small businesses should be careful not to do too many things. You are only in the beginning of your business and you have to do things step by step.

Lack of expertise: this is also a major reason why some businesses don’t flourish. It is true that no individual can have expertise in all areas. Business however needs expertise in Marketing, Selling, Finance, Purchasing, Production, Hiring, Motivating and Managing. So, you might need to look for outside help.


Incorrect business location: This is also an important choice to make. Location is a very important aspect. Several factors like customer convenience, Subsidies, Taxation, Manpower Availability, Cost of Raw Material, Customer Traffic, Ease of Parking, Availability of Electricity, Water and Transportation are all dependent on where your business location is.
Business expansion without putting systems in place: Expansion of business is definitely a requirement. However, small businesses have to make sure they have all their systems in place before they make a venture into business expansion.


No professional website: For a business to succeed today, it is very important to have a professional website. A website has now become one of the most important requirements of customer acquisition. A carefully designed website can in fact reduce your workload by automating several tasks.
Now, these are some of the common mistakes that small businesses make. But, do not fret. Most of the big businesses today have flourished from small beginnings. It is not an impossible task, but make sure you tread your steps carefully.

How to register your company as Private Limited Company in Kerala

After you have decided to start your own business, the next question is How to Register a company in Kerala. Which one should I choose? Sole Proprietary, Partnership, Private Limited Company, One Person Company (OPC), Limited Liability Partnership (LLP) or Public Limited Company. There are option to register your company as a public/private limited company. But its confusing to a new entrepreneur.

All new business coming up would find it really helpful to get the details of how to get the company registered as public/private limited. Here are the steps for your reference.

1. Name Your Business: You have to first decide a name for your company. The name of the business should be unique and memorable. You must provide at least one (maximum 6) name(s) to the registrar of companies. The availability of names will be checked by the registrar. The name should contain and object. You cannot just name “ABC Private Limited”. It will be rejected. Instead you should consider naming it “ABC Software Solutions Private Limited” or “ABC Travel and Tours Private Limited” etc. You can also directly check the availability of names here.

2. Register For e-Filing at MCA Portal: This is the next step that you have to take as the business owner. You have to first register as a user at the Ministry of Corporate Affairs (MCA) website.

Company Registration Steps India

3. Apply for Director Identification Number (DIN): All the existing or intending directors of the company must obtain a Director Identification Number (DIN). You can download the form online and it must be signed by the promoters.

4. Get a Digital Signature Certificate (DSC): The Digital Signature is required on all documents that are submitted in the electronic form. This is to ensure security and authenticity of the documents.

5. Register DSC at MCA Website: The DSC obtained has to be registered at the Ministry of Corporate Affairs (MCA) Website.

6. Apply for the approval of your company name: Now you have to get approval for your company name from the registrar of companies. The name approval is sought by filing eForm-1A. This form requires a Digital Signature of one of the Promoters. Some of the details that are required on the form are as follows:

a. Authorized capital for the proposed company

b. Main objectives of the proposed company

c. Location of the proposed company

d. Copy of trademark application/certificate (if applicable)

e. In case, there is a logo associated with trademark then image of logo

f. Balance sheet (if applicable) and Income tax returns for last 2 years

g. If, the Registrar of Companies approves the proposed name, a letter stating the acceptance of the proposed name is issued. If name is rejected then candidate has to reapply for the approval of name of the company.

7. Formulate Memorandum of Association: this is the next step where you have to form the Memorandum of Association which is the purpose of forming the company.

8. Formulate Article of Association: This (AOA) can be easily prepared under guidance of any Lawyer or Chartered Accountant.

9. Verify, Stamp & Sign AOA: After careful examination of the MOA and AOA, the Registrar of Companies must verify them.

10. Additional steps for Formation of Public Limited Company: Some additional forms have to be submitted to the Ministry of Corporate Affairs and Registrar of Secretaries for incorporating a public limited company. They are:

a. eForm-20, to be filled and submitted by the director or company secretary.

b. Statement in lieu of Prospectus to be submitted to the Registrar of Companies

c. Affidavit from each director stating that the Company has not commenced its Business to Registrar of Companies

d. Board resolution for approval of preliminary expenses, appointment of first auditors (also enclose their consent letter) to Registrar of Companies

10. Registered Office Address: You need a registered office address for your company. You should produce rent agreement, NOC from Owner of the building, Utility Bill etc. to show as proof of occupancy. You may also use Virtual Address for Company Registration in Kerala. Spacelance Offers Virtual Office in Kerala for Company Registration from Rs. 1000/month. Please call 94000 31100 for details.

The Registrar of Companies thereafter shall process the documents and if all the documents are in order then it will issue a Certificate for Commencement of Business.

Find details on how to Register a business in Kerala.

How to get PAN number for your start-up business in Kerala

You must have definitely heard about obtaining a PAN number for your business. So what is PAN? PAN or Permanent Account Number is a ten-digit alphanumeric number which is issued to all businesses in the form of a laminated card, by the Income Tax Department. The owner of the business must apply with the IT department to get a PAN number allotted to their business.


This PAN number is what helps the department to link all transactions like tax payments, TDS/TCS credits with the company. PAN is therefore an identifier for the business with the tax department.

A PAN card is important for all documents pertaining to most of the financial transactions.

A PAN card is a must for all tax payers and any business holder in the country.

How to apply for PAN?

Download the PAN Application form from the Income Tax department website.

Find your nearest PAN center in Kerala.

Submit the filled application form with all the documents that are required to the nearest PAN center.
The documents required are as follows.

For a company: Copy of Certificate of Registration issued by Registrar of Companies

For firms: Copy of Certificate of Registration issued by Registrar of Firms or Copy of Partnership Deed.

For trusts: Copy of Trust Deed or Copy of Certificate of Registration issued by Charity Commissioner.

For individuals: Proof of identity and proof of address

If you are planning to start a business in Cochin, make sure you apply for your PAN card beforehand as you will need this for all kinds of business transactions.

Marketing tips for Social Media

You live in a really competitive business world now. It is important to utilize all the available means of marketing or you are sure to be left behind. Social Media is something that is now ranking high on the marketing charts of all businesses, small or big.

The main aim of using social media in your business is to connect with your existing and potential clients. You must therefore focus more on engaging your members rather than selling them something.

The most important aspect of social media marketing is creating and sharing interesting content. Social media should be used by businesses as a means to make their customer stay with them for long. Long gone is the time when you needed only an email account to market your products. Now people expect to see you on other media like Facebook, Twitter and so on.

Some of the major benefits of using social media for marketing are as follows.

1. You can connect with a huge audience of more than 4.5 billion people.

2. Increased traffic to such sites is another reason for its popularity.

3. You can give more exposure to your brand via Facebook and Twitter.

4. Such social media sites also have better search engine rankings.

5. The best reason is that using social media for your business marketing is often very cost effective.

The objectives of your social media marketing campaign should be as follows.

1. Increasing your site traffic

2. Increasing business trust

3. Learning more about the target audience

4. Keeping your customers informed of your products

5. Promoting your company culture

6. Improving customer service by getting any customer feedback

7. Monitoring any bad feedback from your customers

You must share interesting news, pictures, stories, videos, discussions, facts and statistics with your members via social media. You must also encourage their opinion on matters and hold exclusive competitions on social media like Facebook. It would also be a nice idea to use some special promotional codes on your social media page. This would encourage more members to get engaged with your pages.

You must also track your progress with social media campaigning by using tools like Google Analytics, BrandWatch, Radian6, Twitter Counter and Facebook Insights.

Social media marketing is not just about creating a lot of followers and members. It is more about building relationships with customers and getting to know your audience better.

How to open a Company Bank Account in Kerala

Starting a business in Kerala has now become an easier process. After you have created your business plan and defined the objectives and strategies of your business, you can go about and finish the procedures that are required to legalize your business and its transactions.

One of the first steps that you have to complete when you are starting a company is starting a company bank account. There are so many kinds of accounts available and it is important to do a research before you go to the bank to open an account. You must open an account that will aptly satisfy your business needs.

If your transactions are going to be fairly simple, then you can just go ahead and create a simple deposit account. If you need something more like trade via ecommerce online, then you will need a more sophisticated account.

Here are the steps to open a current account in India.

Get an account opening form from the banks site and get all the signatories to sign on the form as required.

Every applicant has to sign a declaration which states that he/she has read and accepted the current account rules of the bank.

The bank will also require a recent passport size photograph of all the partners/directors/office bearers/trustees and other officials who is authorized to use this account.

This account has to be introduced by an existing current/cash account holder with an account not less than six months old.

Basic documents that are required are as follows.

Identity Proof: PAN Card, Voter Id Card, Passport, Driving License
Address Proof: Latest Telephone Bill or Electricity Bill
For Public or Private Limited Companies, the following documents are required.

1. Certificate of Incorporation and Commencement of Business

2. Memorandum and Articles of Association

3. Board resolution authorizing the opening and operation of the account

4. PAN or GIR No. or completed Form 60

5. List of Directors with residential addresses

For partnership firms the documents required are as follows:

1. Partnership Deed and Registration Certificate

2. Shop and Establishment Certificate

3. Letter from all the partners approving the persons concerned to open and operate the account

For Trusts, please ensure the following documents:

1. Copy of the trust deed

2. Copy of the registration certificate

3. Copy of the resolution by the trustees that authorize the members concerned to open and operate the account

4. List of Trustees with their residential addresses

5. Photographs of the members operating the account

6. Bye-laws of the association or club

Virtual Conference and Meeting Rooms in Kochi

It is very important to market your business. Along with offering the best products, your business also requires meeting with clients and partners every now and then. This is not a problem if your business is already big. However for a small business or entrepreneur, renting hotel conference rooms and meeting rooms in the city would be expensive.

The best option for a small business is to use virtual office solutions as they also offer shared meeting room and conference room facilities.

Reserve your meeting room: You must reserve the shared meeting room well in advance. A shared meeting room could be booked by other companies and it is important that your book the room as soon as you see a requirement. It is also better to reserve the room for more number of hours than you think you require. There are so many chances that your meeting can get extended. In this case, it would give your company a bad image if you have leave the meeting room in midst of the meeting.

How to rent the best meeting room: You have to choose the meeting room according to the number of guests you are expecting. If you are meeting only one or two clients, then a shared meeting room would suffice. However, if you are meeting up with more clients or partners, then you will need access to a conference room. This is also offered by the best virtual office providers in Kochi.

Do you need modern conference facilities? Yes you do. You need to provide a professional image to your clients and for this you must rent a conference room in Kochi that has all the modern facilities like video conferencing and so on.

How to choose a meeting room: You must choose a meeting room that fits your style. You must not keep a casual approach in formal meetings. This can often kill the credibility of your business. So, before you decide the virtual office solution, you must check out the meeting rooms and conference rooms that they offer.

A virtual office offers you all the solutions that you require at a very affordable rate. Most of the virtual office solutions offer monthly contracts so that you can easily change your plan if requires. Make sure you choose a plan that suits your business well.

How can Virtual Receptionists help your Business?

How nice would it be if all your customer calls could be handled promptly and personally? Such a service is offered by virtual office receptionists by virtual office providers. The best part of using virtual receptionist is that you don’t have to pay for the salary of the receptionist.

Hiring a virtual receptionist for your company would help your business get a professional image at a fraction of the cost. Personal contact and direct interaction with your clients is very important for the growth of your business. This is why so many new and upcoming companies are now using virtual receptionist services now.


When you opt for a virtual office solution with receptionist services, your customers get greeted professionally by a receptionist and the call is forwarded to you if she cannot handle the call.

Such trained receptionists are also backed by the latest technologies and superior phone systems. Receptionist services are perfect for all kinds of businesses which are trying to build a professional image.

Your virtual office receptionist can also make appointments with your clients and let you know about it as and when you are available.

Your virtual office must also have other facilities like meeting rooms where you can met with your clients. Some of them also offer fully sophisticated shared conference rooms in the city. This is often very useful for a small business or entrepreneurs who cannot afford to rent hotel conference rooms which are too expensive.


Starting a business in the city is becoming a high budget affair nowadays and the best solution to this is to use virtual office providers who offer you all the office solutions at really affordable rates. Check online to find the best virtual office providers in Kochi now.

How to Choose the Best Virtual Office Provider?

The concept of Virtual Office is fairly new to Malayalees until couple of years back. But now many young entrepreneurs are finding this to be a very viable option to kick off their business in Cochin, Kerala’s business capital, at very nominal rates. There are many virtual office providers in Cochin, however not everyone is reliable. Check out for the best service, client reviews. See how long they are in the market. Choose the one which provides value-added services like meeting rooms and conference rooms.

There are several points that you have to consider when you choose your virtual office provider. One of the first points that you have to check is the address they are providing. The address that is offered by the virtual office provider must be placed in a prestigious location of the city, preferably the business center of the city. The address itself should be professional.

The next thing that you have to look for is whether the virtual office provider offers a dedicated telephone number for your company with all cool features. The telephone number allotted to you must only for your company and should not be shared. Ensure this with the virtual office provider before you sign up. The additional features should be IVR, Welcome Greeting, Call forwarding, Call history, set up Business hours etc.

If you are constantly traveling with regard to your business and need someone to handle your customer calls, then you will need a live receptionist service in Cochin for your clients. There are only some virtual office providers that offer professional trained female receptionists where your customer calls will be answered with your company’s name and transfer it to you if needed.

You also need to check if they offer shared meeting rooms and conference rooms for your clients. Remember that you will need to meet up with at least your most important clients or partners once in a while. It would be important to have a smart office for such requirements with all facilities like Wifi, high speed internet, projector and so on.

Another important thing that you have to look at is the price of the virtual office solutions offered. The cost of virtual office solutions should be much lesser than how much you would need to rent an office in Cochin. Some of the best virtual office providers offers solutions for as less as Rs. 500 but still not compromising the quality of service.

Instead of using a receptionist, you can also have the calls rerouted to your personal number. So many successful entrepreneurs now agree that having a virtual office is one of the best cost saving measures to help make a startup business seem more professional.

Why you wait? sign up for a virtual office today and start saving!