1. Planning and Legal Setup
Idea and Research: Identify a market need, conduct market research, and refine your business idea.
- Business Plan: Develop a comprehensive business plan covering your strategy, operations, and financials plan, market analysis, marketing and sales plan.
- Business Structure: Decide whether your business will be a sole proprietorship, partnership, or private limited company being a popular choice.
- Registration: Register your business with the Ministry of Commerce,Ministry of Labour and Vocational Training and the General Department of Taxation. Obtain any necessary licenses or permits for some particular business natures.