Business is fun. It can be difficult. It is most certainly rewarding.

You're going to run a design agency, I presume? There is no need to worry about any 'bureaucracy'.

Pay your taxes, network well, sell yourself. Nothing too difficult, because in such fields your work speaks for itself, and if you're not skilled you won't get anywhere irrespective of 'pohoch kitni hai'. Respect the craft and set your own standards.

If you're working alone, no need to register any company etc. Just create a website, a decent portfolio, print a few business cards and you're good to go.

But I would HIGHLY recommend that you work for a few months with some agency to learn how they operate (and what you can do better). Plus it is easier to develop contacts this way.

Unspoken rules... You are young, you have nothing to show as yet. People WILL make you work at exploitative prices or even for free for your first few projects. It is up to you to develop good negotiation skills. Please read 'Influence' by Robert Cialdini. You will often be treated as a kid, especially if you're short, skinny, bespectacled etc. Conduct yourself exactly how a professional of 30 years experience would. If you are introverted, you need to work extra hard.

Remember to treat their business as if it were your own business. This is the ONLY way to run a small business successfully and over many years. Be interested in your client/business partner's success. Your own success will follow. Everything you do should be mutually beneficial for both parties. Only then they will become repeat customers and spread goodwill about you.

Source: Working in uncle's factory since 9th standard. I run it these days.

PS: If you are gujju/marwadi/jain/shetty/parsi/bohri muslim, you are playing on easy mode :P enjoy