A software company is one that writes and sells software. If you have skills in computer languages and required amount of knowledge in this area or have business course degrees in Accounting, Finance, Marketing and Human Resources or have worked with a software company and now want to open one for yourself, these are those steps you would have to go through to achieve the same:
Product idea or business plan: Product idea generation is the first step in order to start a software company in India. The idea should be one that has potential in the market and it should be analysed as per the current required and discussed with the market regulators and experts with a caution that they would not disclose that idea outside, usually as per the non-disclosure clause of the agreement made between you two. Test your idea with the software developers and take their suggestions.
- Product idea protection: The idea has to be secured by a non-disclosure agreement, copyright, patents and trademarks. These steps are mandatory to protect your idea from getting misused without your permission.
- Choosing the right legal structure: This step shall determine the management and administration of your company and also affect how you pay your taxes. The structure can vary from sole proprietorship, partnership, corporation or a limited liability company.
- 4. Launch and promotion: A website should be made and social media platforms like facebook, twitter and other places where an online demo of the software should be given with the available offers and feedback. The promotional steps have to be taken after the launch of the product.
- Obtaining STPI licenses: STPI (Software Technology Parks of India) License is one that has to be exclusively attained by all the people that start a software company in India. These license holders can also obtain office spaces at lower rates .It also provides several benefits like zero tax payments for the initial 5 years of establishment and no import export duty for software products in India.
- Office spaces: In order to start Software Company a suitable office space has to be obtained ensuring the best possibilities and convenience for running your company.
- Advisory boards: For successful operation of a software company one has to collaborate with technology enthusiasts, marketing professionals, design persons and other team members.
- Recruitment of beta testers: A software company should have a team of beta testers for fixing errors, checking bugs and ensuring effectiveness and conduct a final test for accuracy.
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