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Starting a Small Industry

 Phases involved in starting a new venture

 Steps for starting a new business

 Aspects to be studied
Phases involved in starting a new
1. Project selection phase

3. Information phase

5. Creative phase

7. Evaluation phase

9. Recommendation phase

11. Implementation phase

13. Follow up phase

Steps for starting a new business

 Analyse objectives
 Search for new ideas
 Consult agencies, DICs etc
 Decide on the line of business
 Decide form of ownership
 Decide on setting up new enterprise or purchase existing
 Plan on location, site, building, machinery, man power,
 Prepare project report
 Study laws, regulations affecting the business
 Obtain clearance from state, central and local authorities,
registration no.
 Obtain finance from banks, institutions
 Purchase/rent land and building, place order for machinery,
material, recruit man power
 Install machinery, set up plant
 Trial run
 Decide on pricing, marketing measures, record keeping
 Start commercial production
 Sales
 Plough back profits
 Plan expansion/diversification
 Compete with other players
Aspects to be studied

 Setting up, development and expansion of business

 Financial Management

 Human Resource Management

 Production Management

 Marketing Management