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Steps to start an HR Consultancy firm in India
read & do this in 4 steps:
Step 1: A good website
Get clients who you want to serve is very important and for getting their trust, getting yourself a website is must. Decide to get a appropriate Domain name and a decent looking website in your firm's name. Website designing starts from Rs. 5000 and domain registration will cost you only Rs.500.
Step 2: Decide on Business entity
There are several options for registering your company from which you can select the most appropriate one. Four major types are Sole proprietor ship, Partnership, Private or Public limited. If you decide to work with your own name, then none of these entities are required.
If you are starting alone and don't want any registration headaches then go for sole proprietorship, as it is very easy to start and you can control everything. You just have to get a current account ready in your name and you are ready to do the business. However, Your company reaches annual turnover 10 Lacs, you will have to register for service tax.
If you want to open a partnership firm for a HR consultancy,you will be needing a copy of partnership deed. In partnership firm all the partners will be the owners of the company.
If you want to start a Private Limited Company, you will be needing 2 persons as board of directors and you will need one auditor. Along with this you will be needing a copy of memorandum of association.
Step 3: Start a Current account in a Bank
This is not an mandatory you can choose to do business in your name also but it makes things simple if you have separate personal and business bank account. To get an current account in bank you will need to show your company letter head, Visiting card, ID and Address proof. Some banks may make it difficult to get it, in that case you can try in with nationalized banks.
Step 4: Get Business Tools
By business tools I mean, your rubber stamps, letter heads, Visiting cards Noukri/Monster(where you can post job requirements and find candidates) log in accounts etc., You can get a database of resumes from one of the many job sites, but the difficult part is trying up with companies and get their requirements and satisfy them with your results.
Trademark: If you want to safeguard the name of your firm or the logo for long term business, then you can get trademark registration done for your firm or your companies logo.
Other option:
Do it as part time with your current employment
If you want to do job/Placement consultancy with your current job, then you have make sure what your employers terms of employment are.
As a consultant you can work for many clients but as an employee you can work for one employer. There are no statutory restrictions on engaging yourself in any other activity or trade while simultaneously working as an employee. But, usually as per the terms and conditions of employment contract(appointment letter), employees are barred from undertaking any business, profession vocation directly or indirectly without prior permission of the employer.
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