Starting an HR Consultancy: What Skills and Legal Steps Do I Need to Know?

Dear All,

I am Chidananda L R. I want to know about what knowledge, skills, legal procedures, and services are required to open a new HR consultancy.

Waiting for your precious suggestions.

With Regards,
Chidananda L R

Hi,

You can open a consultancy in HR by investing a small amount of money, but you need to have good networking in industries like IT, pharma, and office automation. Regarding the legal procedures, you need to register under the Indian Companies Act as a sole proprietor, partnership, or private company. Then, infrastructure, computers, broadband, and telephones are essential. First, you need to estimate your budget.

I hope your queries are clear now.

Regards,
Gauri Tomar

Hi,

To open a consulting firm, first, you need to register with the government and then obtain a service tax number and PAN. These are legal formalities.

For starting and running a consulting firm, you first need to determine the areas in which you would like to offer your services (IT, ITeS, or Non-IT). My suggestion would be to allocate 50% to IT, 30% to Non-IT, and 20% to ITeS (excluding BPO) as this mix can lead to a successful business. You will also need to invest a small amount as capital and ensure a working capital of at least 5 lakhs.

In terms of skills, you should possess patience in the initial six months, have a good network or be capable of making new connections, demonstrate leadership skills, selling abilities, and some business knowledge. Additionally, you should have recruitment expertise or hire individuals with strong recruitment backgrounds (I recommend hiring individuals experienced in both IT and Non-IT recruitment). For any inquiries or further information, feel free to contact me at bala.ermba@gmail.com. Best of luck.

Regards,
Bala.S

Hi,

Is it compulsory to register your company and obtain the service tax number and PAN number? What should be your total annual turnover to go through all these formalities?

Hi,

Please help me with how to register with the government regarding opening a new HR consultancy for service tax. Please suggest the process and formalities.

Regards,
Biswajit