Setting up Enterprise NextEnd. Introduction Setting of an enterprise is a complex process. Various institutions and organizations are providing training.

Slides:



Advertisements
Similar presentations
Institutional Support for Entrepreneurs
Advertisements

3.03 Starting a Business Objective 3.03 Understand the procedures and requirements for starting a business.
CHALLENGES FOR SMALL ENTERPRISES AUTHOR: ALPANA TREHAN CHAPTER-9 © 2011, Dreamtech Press :: Chapter 9 1.
1 Growth of Micro, Small & Medium Enterprises in India.
The Business Plan.
Institutional Support for Small Enterprises
Prof Parameshwar P Iyer Indian Institute of Science1 Entrepreneurship and Business Management Mega Bucks Workshop Indian Institute of Technology Kanpur.
The Nature & Importance of Entrepreneurship
Standard 4: Analyze the Concept of Entrepreneurship EQ 4.01 Research characteristics of successful entrepreneurs.
Saturday, 7th September 2013 Women And SMEs In Brunei Darussalam STATEMENT BY HER EXCELLENCY DATIN PADUKA HAJAH ADINA OTHMAN DEPUTY MINISTER OF CULTURE,
MBA (Trimester) Term V Module Title : Project Finance and Management
1 Sources of Finance Special thanks to Geoff Leese.
The Business Plan : Creating and Starting The Venture.
The Business Plan: Creating & Starting the Venture
NextEnd. Preparation of Business Plan for Setting up Enterprise Business Plan.. The business plan is a written document prepared by the entrepreneur that.
The Business Plan : Creating and Starting The Venture
How To Set Up Your Own Business By Faith Wilkinson.
MICRO, SMALL AND MEDIUM ENTERPRISE PRESENTED BY SAVI ARORA PGDM
Small enterprise as a seedbed of entrepreneurship
©2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Lakshman Wijeyewardena Director General Industrial Services Bureau Role of Business Development Service Providers – Implementation of Technology.
Merchant Banking.
MSME Sector Micro, Small & Medium Enterprises Government of India, New Delhi
 Cluster development as an approach to industrial development has been successful in countries like China, India, South Korea, Malaysia  In at least.
Role of RBI, SFC, SIDC, SSIDC
TECHNOPRENEURSHIP (EM604) Session 6 20 Principles for Creating Successful Technology Ventures Dr. Winarno.
 Definition  Features  Importance T Government of India enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of.
Creating and Starting the Venture
BZUPAGES.COM. Presentation Chapter#7 The Business plan: Creating & Starting the Venture Presented to: Sir Ghulam Abbas.
ENTREPRENEURSHIP Chapter # 07 The Business Plan: Creating and Starting the Venture.
Module - III Project Planning Mrs. Gracy D'souza, Assistant Professor J. M. Patel College of Commerce 1.
Merchant Banking A set of financial institutions that are engaged in providing specialist services, which generally include the acceptance of bills of.
MiniGrid Group NEP Off Grid Electrification Breakout session.
Chapter 3 Concept & Development of Entrepreneurship Entrepreneurial Decision Process Types of Start-up Ventures Entrepreneurship & Economic Development.
Preparing for negotiation  Understand client’s business intention and goals  Measure positioning of your client and the opposite party: the purpose.
Dr. Mohamed Riyazh Khan DoMS
C. VIJAYAN DEPUTY DIRECTOR/ MANAGER DIC, KANNUR Mob:
Training and Entrepreneurship Development Programme in India
ED - UNIT III BUSINESS PLAN PREPARATION. Business Idea Generation Techniques.
1 Teaching Innovation - Entrepreneurial - Global The Centre for Technology enabled Teaching & Learning, N Y S S, India DTEL DTEL (Department for Technology.
Productivity and Quality Management Fifth Lecture.
MICRO, SMALL AND MEDIUM ENTERPRISE PRESENTED BY SAVI ARORA PGDM
Registrations | Subsidies | Loans. Introduction Yashika Enterprises is a well-known name in Thane District (Mumbai). Established in 2011 We offer a very.
BUSINESS AND PROFESSION. Business S.2 (13) defines the term business as “business includes any trade, commerce, or manufacture or any adventure or concern.
Preparation and Analysis of Project Report. What is a Project Report?  A Project Report is a detailed description of the Project  The Project Report.
Creating Small Enterprises through Entrepreneurship Development By Dr. Hashim Hussein Head, UNIDO-ITPO Bahrain.
IBOD Programs and Services Department of Science and Technology Technology Application and Promotion Institute.
How to write a business plan for government small business start-up loans(ebrand8116vs)
How to start an Industry
Entrepreneurship and Business Management
Starting a Business Understand the procedures and requirements for starting a business.
MAJOR ECONOMIC ACTIVITIES
3.03 Starting a Business Objective 3.03 Understand the procedures and requirements for starting a business.
FEASIBILITY ANALYSIS, PROJECT REPORT AND BUSINESS PLAN
Setting up Enterprise End Next.
CHAPTER 5 TECHNICAL ANALYSIS.
Module-5.
Entrepreneurial Finance
Finance Management End Next.
Managing Entrepreneurship: Small & Medium Scale Business
Chapter 5 :The Business Plan (Creating and Starting The) Venture
Starting a Business Understand the procedures and requirements for starting a business.
3.03 Starting a Business Objective 3.03 Understand the procedures and requirements for starting a business.
Transfer of Medical Devices Manufacturing Technology
PROJECT REPORT PREPARATION
UNIT 1 B ROLE OF ENTREPRENEUR.
INNOVATION, ETHICS & ENTERPRISE LAUNCHING
MANUFACTURING ENTERPRISES
DEVELOPMENT AND MANAGEMENT
MANAGEMENT SCOPE IN DIFFERENT AREAS
Presentation transcript:

Setting up Enterprise NextEnd

Introduction Setting of an enterprise is a complex process. Various institutions and organizations are providing training to young people to understand the process of setting up enterprise unit. The entrepreneur should have complete knowledge of men, material, machinery, market, and products. A number of formalities like approval and clearance from government departments are to be completed before setting up an enterprise. The setting of an enterprise involves the study of business opportunities, developments of a feasible business plan and identification, determination and arrangement of men, materials, machinery and market for products. This learning object explain the detail procedure to setup a business enterprise. NextEndPrevious Setting up Enterprise

Entrepreneurial development The process of starting a new business venture is embodied in the entrepreneurial development process. The process can be classified into four phases. NextEndPrevious Setting up Enterprise

NextEndPrevious Identification and evaluation of the opportunity: Develop a business Plan Determine the Resources Required Implementation and management of the enterprises: Entrepreneurial development Setting up Enterprise

NextEndPrevious Business idea/opportunity must be carefully screened and evaluated for market potential, financial viability and technical feasibility. Entrepreneur should understand the cause of opportunity. It may be technological change, market shift, government regulation or competition. Setting up Enterprise Indemnification and evaluation of the opportunity:

Develop a business Plan A good business plan develops in order to catch the defined opportunity. Business plan helps the entrepreneur in developing framework of activities, arranging finance and other inputs, selecting appropriate production technology, and securing clearance from the government and successfully managing the resulting venture. NextEndPrevious Setting up Enterprise

Determine the Resources Required This process stars with an appraisal of the entrepreneur’s available resources. Types of resources: Financial: this includes money, shares and other assets Physical: refers to tangible property such as equipment and office space Human resources: includes the knowledge, training, experience, as well as the time of the business owner and employees Technological: are embodied in a process, system or physical transformation, eg. unique software products and tailored information system architecture Reputation: encompasses the perceptions that people in the business' environment have of the business Organizational: include the business' structure, routines and systems NextEndPrevious Setting up Enterprise

Implementation and management of the enterprises After resources are identified, the entrepreneur set the business venture, employs the resources through the implementation of the business plan, manages the enterprise, creates and looks for growth. NextEndPrevious Setting up Enterprise

Steps in setting up an enterprise Ministry of Micro, Small and Medium Enterprises (MSME) has defined 8 distinct steps for setting up micro, small and medium level enterprises. These steps have been given in details at NextEndPrevious Setting up Enterprise

Steps in setting up an enterprise 8 Steps Project Selection Technology and machinery Arranging Finance Unit Development Filing of Entrepreneurs’ Memorandum Approvals Clearances Quality Certification NextEndPrevious

Project Selection After emergence of viable business opportunity, project has to be conceptualised in all dimension of 4 Ps of Project (i) Product (shape, size and nature), (ii) Process (technology to produce the product), (iii) Place (Location of plant), and (iv) Partner (Technological or Financial Collaborator). The factors like marketing strategy availability of raw- material, Process Technology, accessibility to the market and incentive and support from Government are considered in making choice of a product. NextEndPrevious Setting up Enterprise

Project Selection (Contd….) After emergence of viable business opportunity, project has to be conceptualised in all dimension of 4 Ps of Project (i) Product (shape, size and nature), (ii) Process (technology to produce the product), (iii) Place (Location of plant), and (iv) Partner (Technological or Financial Collaborator). The factors like marketing strategy availability of raw- material, Process Technology, accessibility to the market and incentive and support from Government are considered in making choice of a product. NextEndPrevious Setting up Enterprise

Technology and machinery After selection of product, process technology is selected for production/manufacturing of product. In selecting the process technology, following point should be keep in mind: Requirement of level of skills and complexity of machines. Requirement of large quantities of water and/or power- Issue related to product patent if any Any special pollution or environmental regulations. Appropriateness to the local environment and conditions. Next EndPrevious Setting up Enterprise

Arranging Finance Monetary support is necessary to take off small enterprises. The monetary support is required as seed capital, short, medium and long term loans and for mitigating risk. The important institutions provide credits to business enterprises are commercial/Regional Rural/Co-operative Banks, Small Industries Development Bank of India (SIDBI) and State Financial Corporations, etc. NextEndPrevious Setting up Enterprise

Unit Development Setting up an establishment requires negotiating a favourable plot or shed purchase, organising for proper construction of building, design of interiors and finding good deals for equipment and machinery. Getting power connection causes delay in setting up of plant. Projections for manpower and staffing, machinery and materials are made in the business plan. Selection of proper manpower and procurement of right machinery and materials are very important and critical in establishment of plant to success. Next EndPrevious Setting up Enterprise

Filing of Entrepreneurs’ Memorandum Filling of memorandum by a Micro, Small or Medium Enterprise Section 8 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 is necessary. The memorandum may be filed by all three categories of enterprises with the District Industries Centre in the jurisdiction of which the enterprise is (or, is proposed to be) located. The File Format for Entrepreneurs Memorandum and the detail procedure for filing it are available at NextEndPrevious Setting up Enterprise

Approvals These include regulatory, taxation, environmental and certain product specific clearances. Virtually, no small scale industries require a license from the Govt. of India. The units are, of course, subject to the location / land use and zoning restrictions in force under the local laws. NextEndPrevious Setting up Enterprise

Clearances: An entrepreneur has to obtain several clearances or permissions depending upon the nature of his unit and products manufactured. Regulatory or Taxation related, product specific and environment & pollution related are mainly required. NextEndPrevious Setting up Enterprise

Quality Certification Quality certification is very important in competitive markets and especially in international markets. To avail the quality certification like ISO-9000, a significant cost has to be borne. A scheme has been launched to give financial incentive to those SSI units who acquire ISO-9000 certification, by reimbursing 75% of their costs of obtaining certification, subject to a maximum of Rs lacs per unit. NextEndPrevious Setting up Enterprise

Let Us Sum Up Setting of an enterprise is complex process. This can be divided in four distinct phases (i) Identification and evaluation of the opportunity, (ii) development of business plan, (iii) determination of resource required, and (iv) Implementation and management of the enterprises. Ministry of Micro, Small and medium Enterprise has also prepared 8 distinct steps to be followed in setting of enterprises which explain also clearly explain the regulatory and other requirement required for setting up a business enterprise. End Previous Setting up Enterprise