This document provides guidance for becoming an entrepreneur by starting a trading company. It outlines key questions to consider regarding confidence, money, and knowledge. For those lacking in these, it recommends gaining experience before starting a business. It then discusses registering as a proprietorship or partnership, selecting an industry, obtaining dealerships, registering land, and complying with relevant laws around taxation, labor, and ethics. The overall process involves assessing readiness, selecting a business structure and industry, obtaining necessary approvals, registering land and the business, and ensuring legal and ethical compliance.

1. Do You Want to be an Entrepreneur ?

2. You need an Idea Don’t have an idea The be a Franchise or a Dealer for a company

3. You need to ask these questions in you Do you have the confidence ? Do you have money to start a business? Do you have the knowledge?

4. Don’t have confidence You cannot be an entrepreneur Join some company as an employee to gain some experience and knowledge

5. Don’t have money Approach banks for loan or Venture capitalists Prepare a project report with the working of how you will be able to return the loan and feasibility analysis Along with the report submit NOC and approval from the head of the region and various departments relating to your project. After submitting the above your proposal will be processed further .

6. Don’t have knowledge Gain knowledge by interacting with Entrepreneur’s in yours specific field of interest

7. You have got all the above What type of organization Proprietorship: One owner, Free to make all decisions ,Need not be registered under organization act. Partnership: Min 2 –Max 10 for trading , Min 2 –Max 20 for Financial , Registered under organization act. Private limited: Min 2- Max 50, controlled by Indian companies act and organisation act. Public limited: Min 50 – Any number

8. Considering that you start a Proprietorship What Industry are you going to start? A manufacturing company A service provider A trading organisation

9. For starting a trading company(Dealership) Approach the company which has called for dealerships Fulfill their basic requirements such as working capital ,infrastructure ,bank guarantee , manpower, location etc. Receive an LOI(Letter Of Indend) ,this is an appointment and an agreement between you and that company under some conditions for a period of 2 to 3 years

10. Registration Purchase land for where house ,showroom. based on the region of operation. Land to be registered under registration act. Construction to be done on the basis of town plan.

11. Laws that apply to trading Sales tax registration , TIN(Tax Identification Number) number to be used to do transactions, service tax. C Forms should be used buy goods from other states With more than 20 employees in your organisation, you have to pay ESI(Employee State Insurance),PF(Provident Fund)

12. Laws Professional tax to the municipality Labor laws have to be followed strictly Shop and establishment act Factories act Minimum wages act ,minimum Rs 4250(inclusive of PF & ESI) Bonus act ,payment of wages act Child labor act

13. Traders ethics Maintain a high level of credit worthiness Maintain network with the suppliers Maintain a database of the customers Maintain stock at least for 5 days Motivate the employees to increase your profits Systems to be implemented so that work is done even in your absence

14. Thus you become an entrepreneur