The Benefits of Starting your Business;
You have little to no control over your tax burden when you work for someone else's paycheck. You can, however, change this by establishing a business. When you own a small business, you may deduct a lot of business costs, lowering your tax bill and putting more money in your pocket. When and if you start your business, you give yourself the gift of financial freedom, and your business can help you build huge wealth.
Starting your own business allows you to control your life's journey, define your goals, comprehend your beliefs, and then act on them. Small business ownership provides you with the necessary tools to build the life you choose. Creating jobs for the economy is one of the most empowering things a business owner can do.
What are the advantages of starting a business in Chhattisgarh?
Minerals in Chhattisgarh;
Chhattisgarh has the ideal geological setting to host a variety of lucrative mineral reserves, and the state has the highest mineral wealth in India. Diamond, coal, iron ore, limestone, dolomite, bauxite, and tin ore are among the important minerals in the state. Only Chhattisgarh is an Indian state that produces tin ore. The state also has atomic minerals and the valuable metal gold. Among the other minerals are corundum, clay, quartzite, base metals, fluorite, beryl, andalusite, kyanite, sillimanite, talc, soapstone, and garnet. The state also has vast amounts of granite in a variety of appealing shades that can be used as decorative stones.
Clays, quartzite, fluorite, andalusite, kyanite, sillimanite, talc, soapstone, steatite, marble, silica sand, and other minerals have also been discovered in various locations of the State. Steel production and electric power generation are also prevalent in Chhattisgarh. Chhattisgarh produces over 15% of the country's steel.
Agriculture in Chhattisgarh;
Agriculture employs almost 80% of the state's population, while the state's fertile land is cultivated to the tune of 43%. Paddy is the main crop, and Chhattisgarh's central plains are renowned as the "rice bowl" of central India. Coarse grains, wheat, maize, groundnut, pulses, and oilseeds are among the other significant crops. Mango, banana, guava, and other fruits, as well as a variety of vegetables, can be grown in the area. It contains one of the most diverse biodiversity areas in the country, with forests covering 44% of its land area. Tendu leaves, Sal seed, and other small forest products abound. Other possible revenue generators for the state include medicinal plants, bamboo, lac, and honey.
Chhattisgarh's Ease of Doing Business;
Investor-friendly policies exist in Chhattisgarh, such as the Industrial Policy, the Electronics and ITeS Policy, the Agro & Food Processing Policy, the Automotive Industry Policy, and the Solar Policy, among others. The state is ranked among India's top states for "Ease of Doing Business." To ensure that services are delivered on schedule, the Lok Sewa Guarantee Adhiniyam was established. State Investment Promotion Board (SIPB), Chhattisgarh State Industrial Development Corporation (CSIDC), Chhattisgarh Infotech Promotion Society (CHiPS), and Naya Raipur Development Authority are some of the high-level enabling institutions it has established.
A single-window facilitation centre for investment promotion in both industrial and infrastructure projects is being developed, as well as an online system for granting all forms of sanctions, approvals, and other documents. All state levies and taxes can be paid online. Annual filing of online returns, VAT refunds are simplified by paying directly into the firm's account within 60 days.
In place of manual registration, the state has implemented e-Registration. A common application form for VAT, CST, Entry Tax, Luxury Tax, and other taxes is being developed. The state grants presumed approval for land diversification, labour compliance, voluntary compliance, and other activities. The number of returns has been reduced from 32 to simply two. In place of 65, only one register should be kept for nonhazardous industries, A once-per-five-year inspection, online application for electricity connections.
Infrastructure;
The road network of Chhattisgarh is excellent. Good all-weather roads connect all district headquarters, tehsils, and development blocks. The existing road network is being improved. The state of Chhattisgarh shares boundaries with six other states. Several routes have been prioritised for an upgrade to ensure a smooth ride for interstate traffic. According to a survey by Coeus Age Consulting, Chhattisgarh has emerged as the top state in terms of policy and infrastructure readiness, as well as mission mode project performance. According to the Digital States of India latest study, Chhattisgarh was followed by Maharashtra, Haryana, Andhra Pradesh, and Madhya Pradesh in the top five states.
Railways in Chhattisgarh;
Railways play a crucial part in Chhattisgarh's industrial development since they help move vast amounts of coal, iron ore, and other commodities both within and outside the state. The Indian railways developed a new Railway Zone entitled 'South-East Central Railway' with its headquarters in Bilaspur, Chhattisgarh, in recognition of the potential for mining and metal industry-related traffic in the state.
Chhattisgarh's integration with the national railway system and the state's competitiveness will be strengthened through new projects. The Rajdhani Express connects Chhattisgarh to the national capital, New Delhi.
Chhattisgarh has the greatest freight loading in the country, and it accounts for one-sixth of Indian Railway revenue. The state's rail network spans 1,187 kilometres.
There are direct daily trains connecting Delhi, Kolkata, Chennai, and Mumbai from Raipur, which is located on the main Mumbai-Kolkata line. Many cities, including Ahmedabad, Allahabad, Varanasi, Bangalore, Cochin, Pune, and Hyderabad, have direct trains. In the state, PPP rail routes of about 452 kilometres in length are being developed.
Airports;
There are two airports in the state, one in Raipur and one in Bilaspur. Bhilai, Bilaspur, Korba, Raigarh, Jagdalpur, Ambikapur, Jashpur Nagar, and Sarangarh are the state's eight airstrips.
Raipur Airport has won the 'National Tourism Award 2012-13' for being the finest non-metro airport in India. Raipur is connected to New Delhi, Mumbai, Kolkata, Bhubaneswar, Nagpur, Bhopal, Indore, Ahmedabad, and Hyderabad via daily flights.
During the 2013-14 fiscal year, Raipur Airport received 839,534 passengers and handled 9,279 flights. The Airports Authority of India (AAI) has proposed building two additional airports in Raigarh and Bilaspur. Raigarh Airport has received AAI approval, with an estimated cost of US$ 48.8 million, and the state government is working on signing an MoU with AAI.
How to start a business in Chhattisgarh?
1. Begin with a sound Business Idea;
You must first ensure that you have a good idea. From there, you can create a product that meets consumer demand. However, before you get into anything, make sure you do your homework.
2. Do some research on your Business Idea?
Market research is essential, as is a thorough examination of your competitors. This will allow you to assess the level of interest in your audience and:
Recognize your consumers' demands;
Determine whether your product has any potential flaws.
Reduce financial losses by making more informed decisions
Discover niche markets you may not have been aware of.
Set objectives that will lead your firm.
Identify your target audience
Analyze the competition.
3. Develop a Business Plan;
Your business plan lays forth your present and long-term objectives. This is a resource that successful businesses use to structure their company's direction. A business plan is essential since it can assist you in making more strategic and efficient decisions. It also assists you in focusing on your objectives and tactics. Another advantage of a business plan is that it can assist you with:
Identifying potential flaws
Getting your ideas through to stakeholders
Organizing critical information regarding your company
Hiring candidates who are right for your company
4. Register your New Business;
It's time to take your business to the next level by making it official once you've spent enough time exploring your idea and determining that it has the potential to do well in the market.
You'll need to do the following to accomplish this:
Register your business
Reserve Unique Name
Apply Digital Signature Certificate
Prepare Supporting Documents
Submission of Documents
Obtain a certificate of incorporation
Obtain your Director Identification Number
Obtain TAN & PAN.
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