HOW TO START A MICRO SMALL AND MEDIUM

ENTERPRISE

1) Decision to be self employed :

It is first step which every entrepreneur takes while
starting a small or medium enterprise. Self
employment is the state of working for oneself rather
than an employer. Self employment people generally
find their own work rather than being provided with
work by an employer.

2) Product identification :
It is second step which is product identification
which means broad category of labeling that
includes functions such as product traceability,
brand protection, and various information labels. By
improving supply chain efficiencies from the field to
the consumer helps ensure that the right product
gets to the right place at the right time ans right
price.

3) Preparation of preliminary project report:

Preliminary report means a report for the property
issued by title company in contemplation of the
issuance of the title policy accompanied by the best
available copies of all documents listed in schedule of
the report as exceptions to coverage under the
proposed title policy.

4) Deciding the form of ownership:

This is the forth step in which every entrepreneur
have to decide which form of entrepreneur they
want to persuade in their business I.e, sole prop
writorship , partnership or joint venture.
 5) Location of the enerprises:
It is one of the important step in which location of an
enterprise is being search. It very important to get a best
location while planning for an enterprise and while doing
that many factors is been taken into consideration I.e,
water ,electricity, labor etc.

6) Acquiring industrial plot:

After the location has been decided acquiring
industrial plot is selected.

7)Apply for registration:

after selecting the plot registration is Important.

8) fixing the bank:

fixing the bank is an important step because it will
help an enterprise by proving them financial need
which will help an enterprise in day to day
transaction, giving salary to labor ,paying necessary
bills etc.

9)Apply for loan:

After fixing the bank, apply for loan is the next
step which is to be taken by an enterprise.

10)follow up sanction loan:

There are certain procedure which is needed to be
taken which will help an enterprise in follow up sanction
of loan.

11)power connection and water supply:

power and water is the most important factor for every
business enterprises. without water and electricity day to
day work is not possible .

12) Inviting quotations for machinery:

 After other important process to start a business is
been done, inviting quotations for machinery is the
next step. Machinery helps an enterprise in
production.

13)Place order for machinery equipment:

Placing order for required equipment in an enterprise
which will hep in production function.

14)Installation of machinery:
Machine installation is a key part of putting the machine
into service. If installation is carried out carefully using
correct procedures,it is an investment in the machines
serviceability and reliability for its entire service life.
15) Procurement of raw material:
This encompasses all items that are part of finished
products such as raw material, components and parts.

16)Appointment of personnel:
personnel refers to the people who work for an
enterprises or may be the labor who help in production
function. It is very important to appoint personnel for an
enterprise by selecting right people.

17)Conduct trial production:

Trial production means prior to the pre - production in an
enterprises trial production is conducted by technical
personnel of a testing nature by using the material
procured and the equipment which passes testing
operation.

18)Plan commercial production:

Commercial production the process of bringing
hydrocarbons to the surface and making them ready for
processing. It is very Important to plan commercial
production for an enterprises.
 19)Preparation of detailed project report:
Detailed report includes all the necessary information of
production and other activities of business.

20)Apply for income tax & sales tax:

Applying for income tax and sales tax is important
because by applying this an enterprise will get a GST
number which will be applied in the product produced in
the production.

21)Marketing facilities:
This means a livestock market, stockyard, buying station,
auction, consignment, or other sale venue, or any other
premises where livestock from multiple owners are
commingled and assembled for sale.

22)maintenance & management of finished stock:

stock maintenance for s book store is to replace the
existing maintenance system which is in inefficient. This
will allow the employee to record information of the nooks
available in the book store and generate report based on
the amount of sales.

23)Avoiding sickness:
This is the more important step which every enterprise
should take which is to avoid sickness. Avoiding sickness
means trying to reduce the accident in an enterise. When
there will be less accident cost and expenditure will also
reduce.

24)Exploring export promotion opportunities:

Exploring export promotion will help to aware more no.
people and let them know about the enterprise product.
This will help in increasing sells and create brand name in
the market.
 25)Repayments of loans:
It means repaying the amount of loan which has taken to
start an enterprise and manage day to day transaction.
The loan amount is needed to pay by an enterprise after
some period of time with some interest depends upon the
bank. Bank also give credit loan to some reliable
customer in order to start their business.

26)Modernization & upgradation of technology:

When an enterprise is running perfectly, smoothly and all
its other function its financial condition is good it is
mandatory to modernize and upgrade its technology
which will further help in its smooth running function.

These all are the steps mentioned above which is needed

to take in consideration while start a micro small or
medium enterprise.