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Finance
Business Ecosystem
Decision to be an Entrepreneur
Information Desk
The overriding reason for anyone to think of establishing a SSI unit can be summarised in one word - opportunity. An opportunity to
be your own boss, to provide a product or service, to implement your ideas, which can generate sufficient surplus, is reason to
think of starting up a SSI unit.
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Starting a small business takes a lot of courage. To be successful - to stay in business - you need a combination of hard work,
skill and perseverance.
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Location of Industry
After deciding the issues of product, the next important question is, where to set up the unit ? For many tiny units and service-based
units, the home is perhaps the best starting point. But not all type of SSI can be set up in home either due to size or due to nature of
the industry. Then the entrepreneurs may like to locate their business in industrial estates, areas, parks, complexes developed by
concerned state government organisation or private bodies or in a privately leased land subject to approvals by various state and
municipal bodies.
State level Government agencies like DSIDC, HPSIDC, GIDC, TIDCO, UPSIDC assist entrepreneurs in identifying suitable
locations/sites for the project, besides helping in the process of getting all the necessary clearances for the project.
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factory. Design of factory building has to be in consonance with the type of industry. Have an appropriate plant layout. If you are
setting business in home, plan the area, which is to be used as your production centre or office judiciously. You may like to take
help of a professional to ensure that the area is utilised optimally.
An architect's estimate of building construction is essential for loan applications. Further, architect's certificate for money spent on
building is needed for disbursement of loan.
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Legal Aspects
Few simple steps to take care of legal aspects of setting business are to Register your unit with relevant organisation, check out
the labour laws that would be applicable to you, pay your commercial taxes and taking care of environmental aspects. Each of
these aspects is discussed in details.
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Human Resource
Human Resource is an important element to be kept in consideration while setting up an business. Though, projections for
manpower and staffing are made in the project report, however it is necessary to time the induction of manpower in a planned
manner. For example: The engineers and operatives must be available before the installation of the machinery. While planning for
manpower following points should be kept in consideration.
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Production
Today's competitive market, it is difficult to maintain stable relationships with suppliers, customers, brokers, distributors, and even
your own company personnel. Competitors are stealing your best customers. To maintain the edge entrepreneurs need to
synchronies their production process, capacity, and delivery schedule.
Plan out your work area keeping in mind the requirement of your business. More often than not the area available to small
businesses is limited and within that area all the work needs to be carried out, right from storing the raw materials to the final
product. The space for each of these should be clearly chalked out.
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Pricing
In India, price is often affected by excise duty, sales tax and local taxes like octroi, thereby making it difficult to maintain a uniform
price throughout the country. You may opt for any of the following policies or modify and combine them depending upon your
objective or you can have your own pricing policy.
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Marketing
Marketing is an important tool to be used while setting up your business. Study, but don't necessarily copy your competitor's
moves. Visit their businesses, watch their ads, figure out their strategies, and keep your eyes open. You may not be able to keep
up with your competitor's strategy move by move. You should, however, be ready and able to blunt or block the impact of their
moves through effective marketing. Then, later, you can make your own offensive move at your own pace.
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Contact
There are 28 SISI's and 30 Branch SISI's set up in State capitals and other industrial cities all over the country.
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