| |
Market
I Supply
I Infrastructure
I Business
management
I Finance
Business
registration I
Taxes/Customs
I Tenders
I Training
I Summary
Summary
of information seeking [top]
|
Market
demand
-
Saturation
of existing demand by existing suppliers
-
Reliability
of supply for existing product/service
-
Expected
increase of demand for the product/service
-
Variety
of distribution channels and target clients
-
(low,
medium and high income group clients) and
market segment
-
Existing
sub-contracting and market linkage opportunities
-
Names
and prices of advertising enterprises
· Same/similar kind of goods/services (number,
price, concentration, quality) offered by
competitors
|
|
Availability
of qualified personnel and training
-
Availability
of different skills (conceptual, managerial,
technical, manual);
-
Steadiness
of supply of skills;
-
Cost
of labour;
-
Institutions
that provide business management training
and their fees;
-
Institutions
that provide skill up-grade training and their
fees.
|
|
Availability
of technology and equipment
-
Availability
of proven technology/tasted equipment;
-
Availability
of technology/equipment at reasonable prices;
-
Availability
of technology appropriates for the level of
production, level of investment and desired
product quality.
|
|
Availability of supply of raw materials
-
Availability
of adequate local/imported sources of raw
materials at reasonable
prices;
-
Reliability
of supply of raw material;
-
Seasonal
availability, quality and viability of raw
materials.
|
|
Competitors
|
|
Availability of utilities and infrastructure
-
Availability
of/access to electric power and water supplies;
-
Availability
of transportation at an affordable price;
-
Access
to work premises and related costs.
|
|
Finance
-
Alternative
sources of finance (micro finance institutions,
commercial banks, government funds, donor
funds);
-
General
loan conditions, terms and interest rates
of the various lending institutions including
government financial sources.
|
|
Legislation
-
Form
of business enterprise to establish and related
legal requirements and licensing procedures
(partnership, sole proprietorship, co-operative);
-
Tax
holidays and exemptions, types and rate of
payment;
-
Standards
and quality regulations;
-
Special
provisions and support from government;
-
Tender
procedures;
-
Business
laws and binding contractual agreements.
|
|
Business management
-
Organisational
form of the business
-
Availability
of different skills (conceptual, managerial,
technical, manual);
-
Steadiness
of supply of skills;
-
Cost
of labour;
-
Institutions
that provide business management training
and their fees;
-
Institutions
that provide basic accounting training and
their fees;
-
Auditing
services and their fees;
-
Institutions
that provide skill up-grade training and their
fees.
|
Check
your legal responsibilities
[top]
The
following table is presented to show you what decision
variables you should consider in order to start your
business. Please note that the crosses indicated in
the 'Yes' and 'No' columns of the table are presented
as examples only.
|
1.
Business
registration
-
Identify
concerned
institution for a license/work permit;
-
Check
procedures required to secure a license;
-
Check
how much time it takes to secure a license;
-
Check
how much it costs to secure a license;
-
Check
how much the annual license fee you
should pay;
-
Check
when you should renew your license.
2.
Taxes
-
What
type(s) of taxes you are required to pay?
(e.g. value added tax, income tax, profit
tax, turnover tax, sales and excise tax);
-
What
are the tax rates for each tax category?
-
Which
organisations are responsible for tax collection?
-
What
penalties are involved for untimely/missing
tax payments?
3.
Tenders
-
Check
existing tender procedures;
-
Check
existing legal conditions for tender participation;
-
Identify
potential sources of tenders.
|
Checklist
for final decision to start your business
[top]
|
Decision variables |
Yes |
No |
Remark |
|
Have
you decided what product/service to sell? |
x |
|
|
|
Have
you identified who your customers will be? |
x |
|
|
|
Do
you know who your competitors are? |
x |
|
|
|
Do
you know what price to charge for your product/service?
Is it competitive? |
x |
|
|
|
Have
you found a location for your business? |
x |
|
|
|
Have
you decided what kind of promotion to use
and have you calculated the related costs? |
x |
|
|
|
Have
you decided which legal form your business will
have and do you have all the relevant information
about licensing procedures? |
x |
|
|
|
Do
you know what kind of skilled labour you are going
to hire, their availability and the relevant costs? |
x |
|
|
|
Have
you calculated how much start-up capital you need
and from where to secure it? |
x |
|
|
|
Have
you decided what kind of record-keeping system
your business uses? |
|
x |
look
for assistance |
|
Have
you prepared a sales and costs plan for
at least six months? |
x |
|
|
|
Does
your sales and costs plan show profit for a reasonable
period of time, say at the end of the first year
of operation? |
|
x |
revise
your plan and strategy |
|
Have
you prepared a cash flow projection, for at least
6 months? |
x |
|
|
|
Does
your cash flow plan show your business will
not run out of cash during the first few months
i.e. 6 months? |
|
x |
revise
your cash flow plan |
|
Have
you found out what assistance you may get from
government and other development agencies? |
|
x |
look
for information from relevant offices |
|
Total |
11 |
4 |
|
Now
make your final decision based on the total sum of 'Yes'
and 'No' answers for the indicated decision variables.
[top]
Market
I Supply
I Infrastructure
I Business
management
I Finance
I
Business
registration I
Taxes/Customs
I Tenders
I Summary |
|
