How to Start a Small Business in Nepal? 10 Important Steps
Starting business isn’t as easy as you think. To be a good businessman you must be careful in these three things, planning, financial decisions and continuous labor. Without absent of one element, it will be tough enough to reach to the success as a good businessman. You can go through these important steps to start a small business from zero to hero.
10 key steps to start a small business
- Business plan
The main thing before running the business you must have a business plan. You must have to be strong in the plans you have made. You can also discuss the plan with your partner in order to correct the errors in your plans.
- Get business assistance and training
Take some training related to your small business. Do counseling about your business with some of the other established business persons, so that they will provide you the market status, securing financial ideas.
- Choose a business location
The location is also the main factor that helps to lead the business. Starting your business in Antarctica is meaningless so look the appropriate location for your business.
- Finance your business
For every business, finance plays the most important role. So, apply the government loans to be secured and for back up. Find government-backed loans, venture capital, and research grants to help you get started.
- Register your business
It is smart enough to register your business with the governmental business matter related offices. Ask for the PAN or Vat identification number for your form.
- Business licenses and permits
For every business, you must take the permission to start to form the government agencies. They provide the Licenses and Permits which will make you more efficiency to run the business.
- Employer responsibilities
It’s impossible to handle the business alone so you must hire employees. Before hiring them to study the Employer Responsibilities towards the employees. Make the agreement salary, health policies, insurance and other matters related to them.
- Financial decisions
You must have to make right financial decisions at the right time so that it will be easy enough to run the business for the managers and staffs.
- Local assistance
You may face problems instantly, so to get rid of these type of problems stay connected with local authorities or with the senior persons of the locality.
- Continuous labor
If your business will be down, never give up. If you continuous labor finding its weakness surely you will be a good businessman.
Check also: 10 Worst Business Decisions Of All Time
