Start a Business
Creating a Business Plan
COWE at April 20, 2011 | 4:11 am | 0 Comment
Every new venture should have a business plan. A business plan is the formal written expression of the entrepreneurial vision, describing the strategy and operations of the proposed venture. The business plan also goes by other names, depending on its intended audience. Presented to a banker, it may be called a "loan proposal." A venture capital group might call it the more...
Making a Product Choice
COWE at April 20, 2011 | 4:22 am | 0 Comment
After choosing the form of the business organisation the next start up problem is the choice of the particular product or service to be manufactured by the firm. It is an important decision because rest of the challenges of setting up a business are based on the type of the product the firm wants to produce. This decision can be taken through a comparative analysis of the more...
Setting Up Infrastructure
COWE at April 20, 2011 | 4:26 am | 0 Comment
A new business enterprise after deciding upon the location of the industry, needs to set up the basic infrastructural facilities for commencing its operations. It includes, purchasing the land for the construction of the industry. The site must be well connected to the nearest transport network i.e. rail, road or port. Besides, the availability of the basic amenities more...
Naming and Registering a Business
COWE at April 20, 2011 | 4:41 am | 0 Comment
In India, incorporation of a company is governed by the Companies Act 1956. It is the most important piece of legislation that empowers the Central Government to regulate the formation, financing, functioning and winding up of companies. It applies to whole of India and to all types of companies, whether registered under this Act or an earlier Act. But it does not apply more...
Choosing a Form of Business Organisation
COWE at April 20, 2011 | 5:00 am | 0 Comment
A business enterprise can be owned and organized in several forms. Each form of organization has its own merits and demerits. The ultimate choice of the form of business depends upon the balancing of the advantages and disadvantages of the various forms of business. The right choice of the form of the business is very crucial because it determines the power, control, risk more...
Choosing the Location of the Industry
COWE at April 20, 2011 | 5:48 am | 0 Comment
Every entrepreneur is faced with the problem of deciding the location for his/her factory or plant. Location of the business is the most important factor influencing its success or failure. It is a long-term decision which should take into consideration not only the present requirements of the organisation but also its future expansion plans. Errors in location may be more...
Pricing your Product
COWE at April 20, 2011 | 6:16 am | 0 Comment
Fixing the right price for a product is the most difficult task as it affects the volume of sales of the product of the firm as well as the profits of the firm. Although non-price factors have become more important in recent decades, price remains one of the important elements in determining the market share and profitability. Prices are set by a firm by taking into more...
Regulatory Requirements
COWE at April 20, 2011 | 7:34 am | 0 Comment
Once an entrepreneur has taken all the important decisions relating to starting a business, he/she has to take into account the basic regulatory requirements which are to be followed for setting up the organisation. The most important regulation is the Companies Act,1956, which regulates all the affairs of a company. It contains provisions relating to the formation of a more...
Financing a Start Up Business
COWE at April 20, 2011 | 8:42 am | 0 Comment
One needs money to make money. Finance is the lifeline of business. A business firm requires finance to commence its operations, to continue its operations and for its expansion and growth. There must be continuous flow of funds in and out of business. Sound plans, efficient production and marketing are all dependent on smooth flow of finance. Hence, a financial plan more...
Sourcing Process, Raw Materials, Machineries and Equipments
COWE at April 20, 2011 | 9:25 am | 0 Comment
Once the firm has decided on the foremost issues of which product it wants to produce and the location of the industry, the next important step is to select appropriate technology and equipment to produce the same. In addition to this, the source of raw material has to be decided upon. The requirements of all these can either be met through domestic sources or can be more...