New Business Set-up

Starting your own business is very exciting and at time a challenging task.

A methodical plan of action is needed to fulfill your desire of starting your own business, growing it and making it a success.

At Ethics plus we help you to navigate smoothly with the tasks and avoid common pitfalls that small business owners encounter during the set-up.

We help you…

1. Prepare an initial business plan or a detailed feasibility study to expand your marketing, management, and financial plans.
2. Decide about requirements for start-up investment.
3. Identify means and sources of start-up capital.
4. Analyze your borrowing powers so you know how much money you can get your hands on if needed.
5. Selection of a business structure/ constitution that best fits your needs by evaluating tax advantages, legal aspects, ease of operation and running difficulties.
6. Get the set-up legally registered with the local departments and obtain a trading license.
7. Select the right accounting software by evaluating your budget, needs and hardware. These can either be bought from the shelf or can be custom tailored to suit your requirements.
8. Select a suitable accounting firm for out-sourcing your accounting and CFO needs.
9. Prepare a projected cash flow statement so you know exactly how much money you need to keep the business alive each month for the first few years. Establish billing and collection procedures to maximize your cash flow.
10. Establish procedures and internal controls to monitor and control costs, wherever possible.
11. Assist in obtaining all local licenses and permits.
12. Complete formalities with the immigration and labour departments so that the first employee can arrive smoothly.
13. Comply with all employment laws of the country such as WPS system of paying salaries and wages so you don’t get hit with hefty fines and unhappy employees.
14. Identify your business insurance needs to provide sufficient cover against perils such as fire, burglary, flood, accidents and employee infidelity.

Let us help you in getting your new business off to a good strong start.

– By Sunil Menon