Practical Steps In Setting Up A Small Enterprise

Practical Steps In Setting Up A Small Enterprise Assignment Help | Practical Steps In Setting Up A Small Enterprise Homework Help

Practical Steps In Setting UP A Small Enterprise

As a project champion, an entrepreneur has to arrange for human resources, materials and finance and false other practical steps to get the new enterprise registered with the District Indentures Centre (DIC). The stages involved have been shown.

Setting up a small scale enterprise

1.    Project Report

The project report is a written document which involve course of action devised to achieve the specified objective within a specified period. It bears all detail of the project under via ours heads like history, manufacturing process, machinery etc.

2.    No Objection Certificate

No objection certificate is not necessary for small units. But in case of manufacturing certain chemical products, use of certain minerals or forest products, etc., permission is required from the Pollution Control Board. For example, paper manufacturing units, tanneries, auto service centers, etc. require. No objection certificate from the Pollution Control Board.

3.    Formal Sanction of Loan

Finance is the life blood of any enterprise. Before taking steps to create the enterprise, the entrepreneur must make sure that necessary finance would be able. If he has applied for loans to some bank or financial institution, he should obtain formal sanction of loan.

4.    Construction of Building And Installation of Machinery

An entrepreneur can start ahs unit in an industrial shed available at an industrial estate or can acquire an industrial plot for construction of building. he should also obtain power and water connections. After this, he has to work for installation of machinery with the expects in the area. The installation of the machinery must follow the plan layout determined by the entrepreneur. A test run of the machinery has to be carried out in the presence of the supplier’s representatives who will also taint he workers in running the machine.

5.    Detailing Human Resources

After the machinery is made operational, the workers should be allotted their work and a trial production run should beinitiated. If the product is ound to be as per quality standards, the entrepreneur can start commercial production i.e.e, manufacture fo products for sale.

6.    Distribution Network

After commercial production has started, arrangements must be made for marketing of goods. The entrepreneur must establish linkage with different distributors and sellers by shown them the sample of product manufactured. This will facilitate smooth marketing of the product which is necessary for the survival and growth of the enterprise.

7.    Obtaining Permanent Registration

when the commercial production has started, the entrepreneur will apply to the District Industries Centre for obtaining permanent registration of the unit. This will help him in getting incentives provided by the government and in clearing excise and other regulatory requirements.

For more help in Practical Steps In Setting UP A Small Enterprise click the button below to submit your homework assignment