Starting a business online is one of the best decisions a person can make. To begin at one’s platform and earn is the best way to be financially independent. In the present generation, it is almost inevitable for anyone to survive in a comfortable stage unless they have multiple sources of income. Starting an online business always comes to their rescue. Here’s a guide to start data entry business in India below.
The increasing exposure to digital information and social media has brought the world together, and the reach of any individual has the scope to spread worldwide, even to remote locations all across the globe. Data entry is a widely popular medium people opt for as freelancers to make money online. This is the base to start providing opportunities for curious data entry seekers by starting a data entry business.
This will benefit the provider to make a profit and the data entering person to make money. Data entry is the work of entering data or information available or provided by the work provider in the form of a document, printed paper copies, or any other source of data. The data can be a spreadsheet, the responses to any survey, or any random document that needs to be completed.
The data entry employee is given a target to complete entering the given data within a certain period. Data entry is an integral part of almost every other company, and professional employees will not be willing to deal with paperwork like data entry. Hence, starting a data entry business is an evergreen side hustle. The workers can be working either part-time or full-time.
A guide to start data entry business in India
Starting any business in India requires a set of permissions to be taken for the business to be legalized and to have support from the governmental bodies in case of any illegal activity. Every business would be registered with the government, either big or small. Likewise, data entry businesses must also possess legal registration and other proceedings.
Planning of data entry business
The data entry business must be appropriately planned based on various factors like what kind of data to deal with, what data works are trending in the market, and what resources are available to collect the data. This analysis is done, and according to the current scenario of the investor and other contributing elements, one kind of data entry business is chosen.
Registering the business as a legal entity
The decided data entry business is then registered as a legal entity, usually a Limited Liability Company. Still, it can also be registered as a sole proprietorship or a business partnership based on the number of people involved and their business strategies. The registration is done by paying the registration fee known as LLC costs in the case of a Limited Liability Company.
Registering the business for various taxes
There used to be a lot of taxes that a company or a business owner must pay as permission to run the business without any disturbance, increasing government income. But recently, the government has decided to have only GST for businesses whose income is higher than the stipulated level. The company needs to apply for a GST number by providing its details, like the registration number. Once the GST number is obtained, the tax must be paid yearly per the income range obtained.
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Opening a business bank account and obtaining a credit card
The business needs to make transactions, which would happen from a dedicated bank account created to make monetary transactions. This account is kept different from the owner’s account, based on the business entity concept, which shows the business and its owners are two separate entities.
Set up accounting for the company
The company as a whole would undergo various transactions and can be of various kinds like debt, in-flows, or outflows. These transactions are to be recorded in the financial book of records to be further classified into required categories so that final balance sheets and financial statements can be prepared accurately. For the business to progress well, the accounting activities must be dealt with carefully so that analysis is done without errors.
Obtaining necessary permits and licenses
Though the business is registered legally, some licenses and permits are required for the business to start proceedings. They can be local and state licensing requirements, a service agreement, and a Certificate of Occupancy. The certificate of occupancy is a final document obtained after checking all the building requirements and infrastructure have met the government regulations.
Insurance the data entry business
The business is also an entity like any other entity, which justifies that the business needs to be insured. This ensures that undesired activities and factors can lead to the death or end of the business. The issuing of insurance is again dependent on their pre-determined conditions.
Giving the business a brand name
The business must be given a unique name. The brand’s name must be unique, catchy, and easy to remember, which can be a factor for brand recognition. Not just a name, the brand involves a way of culture and the way people look up to the company. Adding a logo and a unique brand name adds up to the value of the company.
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Creating a business website
Everything is being done online, and business transactions and discussions are feasible on a website. The domain name selected must be chosen in a manner that has validity all over the country and represents the company’s brand.
Starting a data entry business at home
Businesses like data entry have mostly been side hustles and ideas of individuals. Hence, the data entry business is often seen as beginning from home. To start a data entry business from home, the procedure can be followed:
- Finding a good and trustworthy platform, usually for freelancing, like Fiverr, Flexjobs, etc., and creating an account. Placing bids for data entry-related works on a large basis, relatively at lesser prices than competitors.
- Gather works that accept the bid and distribute them to contacts or circle willing to write data entry at a lower price so that one has a margin over the actual bid placed. Then, get the works done at a lower price and submit them, obtaining a profit.
- Alternatively, one can buy a domain, create a website, and register as a sole proprietor business. This can involve a lot of initial investment for the infrastructure and other requirements.
- Get a license for running the business at home and place bids for companies to obtain data entry gigs from companies having requirements.
- An individual wanting to start a business from home can also collaborate with a company, learn how the culture is going on in the company, and try to replicate such a culture within the home vicinity.
- If there is enough capital, renovating one’s own home to have a private office and a couple of systems for workers to work on multiple projects at a time would be more beneficiary.
Getting clients for data entry business
- Data entry businesses mostly have various big companies that require record maintaining or tedious data work as their clients. For this, maintaining healthy relationships with people from corporate companies is helpful.
- Even though potential clients can be obtained from circle and connections, the reputation of the services is always a key factor for gaining clients.
- Maintaining an ethical brand value and image is the foremost requirement for obtaining clients for a data entry business. The brand logo, brand name, image, and people’s reviews contribute to the company’s marketing.
- Another critical factor is maintaining a good website with proper aesthetics and design. The company’s website must be presentable, authentic, and professional.
- Data entry businesses also get clients by word-of-mouth, where one company or client who has previously taken service would suggest the service to others in similar need.
- Apart from this, other factors like timely delivery of projects, quality service, errorless work, having a good management staff at the office, offering discounted prices, and valuing customer satisfaction are critical for data entry businesses to get clients.
- Promoting the business properly
However best the services might be, without proper marketing, one cannot expect customers to give gigs or aspiring writers to approach you for work. Therefore, organizing profitable and potential marketing campaigns is suggestible to get quality clients.
Profitability of data entry jobs
- data entry jobs are pretty profitable. They offer to pay you to enter what is already present in another document, and there is no mental stress or work involved. Everything required is present with our consciousness towards the work given and delivered within the stipulated deadline.
- The working hours are mostly flexible, with most opportunities being offered to work from home, demanding to deliver within the deadline. It is one of the most accessible niches to work on for earning more money with minor efforts.
- The average amount a person can earn from data entry works annually is estimated as 1.2 lakhs according to studies, ranging from 0.9 lakhs to even 3.1 lakhs if done professionally on a large scale. The amount earnt depends upon the platform and type of data entry involved.
Finding proper data entry jobs
- Data entry job is always in demand, and many malicious websites with fake websites encash this. They provide fake proof of payment, mentioning them as payouts to previous workers. They lure the data entry aspirants to work, get work done from them, and ghost them without any warning or intimation, falsely accusing them of making mistakes in their work.
- Hence, learning to differentiate between fake websites that can be an actual loss of time and trustworthy websites is essential. For this, surfing online on public forum groups like Quora is suggestible. Almost answers are available for everything from people who have experienced similar situations.
- Reputed platforms like Revv.com are an excellent option if one wants to go for data entry of subtitles and closed captions.
- The best way to find a genuine opportunity always remains in freelancing platforms like Truelancer, Upwork, Fiverr, etc., where people in requirement of data writers place gigs and writers need to bid for the work. Whoever pays the lowest bid will be selected.
- Some websites dedicatedly work to provide data entry opportunities, but they need to be found through thorough internet research. Another way can be finding an opportunity from public marketing on roads and areas where these works are famous.
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Doing data entry job on mobile
- Data entry can also be done on mobile, thanks to the advancements in technology and softwares made. Typing is mainly done in word or document formats which are very well available on mobiles, with the latest customization features.
- Data entry works like captcha entry can be done easily through mobile. Other similar options like using Office365 and WPS Office make data entry work from mobile comparatively easy.
- One can type better on mobile and use speech typing with a speech-to-text feature. This can help in doing data entry on mobile.
The best site for data entry jobs
- There are a lot of data entry jobs on many famous sites, depending on the type of data entry done. For caption writing, websites like Rev.com are the best suitable.
- For typing jobs, MegaTypers, Scribble, etc., are best suitable and are rated the best, alongside onlinetypingjobs.com, etc.
- There are always adequate opportunities for data entry roles on platforms like Internshala, Upwork, Fiverr, Truelancer.com, etc.
- Though many sites are coming up every other day, these are some reputed websites that pay genuinely without being fake.
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