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 The role and responsibility of entrepreneurs is changing as India changes. This is an important issue to think about, because the nature of entrepreneurship is different in India- it is more complex, complicated and more granular than the West.
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 List out business ideas and make your choice. Once you have identified your business idea, find out what you will require eg. Staff, inventory, storage space, communication network, stationary etc
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| SOHO - Checklist |
Background work
- Identify and assess your strengths and weaknesses
- Establish your business and personal goals
- Assess your financial resources
- Identify the financial risk factors
- Determine the start-up costs
- Decide on your business location
- Do market research
- Identify your customers
- Identify your competitors
- Develop a marketing plan
Business transactions
- Select a lawyer and maintain the relationship
- Choose a form of organisation (proprietorship, partnership, or corporation, for example)
- Create your business (register your name, incorporate the business, etc.)
- Select an accountant or auditor
- Prepare a business plan
- Select a banker
- Set up a business checking account
- Apply for business loans (if applicable)
- Establish a line of credit
- Select an insurance agent
- Obtain business insurance
- First steps
Get business cards
- Review local business rules (octroi, codes, etc.)
- Obtain a lease
- Line up suppliers (if applicable)
- Get furniture, equipment and fixtures
- Obtain a business licence or permit (if applicable)
- Join a professional organisation
- Set a starting date to commence business.
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