Having a business would be a dream for many people. Unfortunately, starting a new business can be very difficult for a beginner. They need strong mental and courage to start, even if it’s just a small business. Often the shadows of the risk of failure or loss arise and make them hesitate to begin. If you ask how to start business in Indonesia, it would be better to read this article.
– Do Research
If you already have a business idea, it’s time to balance with a bit of reality. Does the idea have the potential for success? In order for a business to succeed, you must be able to solve problems, meet the needs, or offer something that the market wants.
– Create a Plan
You need a plan to make the business idea a reality. A business plan is a design made to steer your business from an early stage of an establishment to business growth, and this is a must for all new businesses. There are different types of business plans for various businesses.
– Plan for Finance
Starting a small business doesn’t need a lot of money, but it will involve some investment as well as initial ability to cover costs before making a profit. You need to plan your finances by building a spreadsheet that estimates the start-up costs of a business such as licenses, permits, equipment, legal fees, insurance, branding, market research, inventory, trademarks, bookkeeping, and so on.
– Select Business Structure
Your business can be a sole proprietorship, partnership, limited liability company or corporation. The business entity you choose will affect many factors. You can choose the initial business structure and then reevaluate and change the structure as your business growth and needs grow.
– Select and Register Business Name
Business names play a role in almost every aspect of the business. Make sure you think of all the potential implications when exploring options and choosing a business name. After choosing a name for the business, you need to check if the name is already a trademark of another business.
– Get License and Permission
Documents are part of the initial process when you want to start your own business. There are various licenses and business licenses that may apply in certain situations, depending on the type of business you start and where the business is located.