Business Start up in India
A business enterprise is an entity or an economic institution pursuing an economic activity. It is an entity engaged in the manufacturing and/or distribution of goods and services. The purpose of a business enterprise is also to earn profits and acquire wealth.
The term 'business' has a very wide scope involving a large number of activities that can broadly be classified into Industry and Commerce. While the term 'Industry' includes all activities related to the production of goods/services, the term 'Commerce' includes all activities related to the distribution of these goods and services.
Individuals or a group of enterprising individuals always seek opportunities to set up a profitable business and then building it into a successful concern. Starting a business needs careful planning in terms of choosing the product / service, resources required like workforce, materials, infrastructure, study of the market etc.
An individual or entrepreneur setting up a business has to consider the following for ensuring that he/she faces no problem while setting up a business. They are:
- Making a business plan
- Choice of product / service
- Infrastructural set up
- Business Registration
- Selection of form of organization
- Selecting business location
- Product pricing
- Business regulatory requirements
- Sourcing finance
- Sourcing infrastructural set up