HOW TO START A

GOOD BUSINESS
Presented By: M Arslan Akram
Types Of Business:
■ Sole Trader:
A sole trader is the simplest form of business structure and is relatively easy
and inexpensive to set up. As a sole trader you will be legally responsible for all aspects of
the business. You’ll generally make all the decisions about starting and running your
business and you can employ people.
■ Partnership:
A partnership involves two or more people (up to 20, with some
exceptions) going into business together with a view to making a profit.
There are two types of partnership – “general and limited”.
■ A general partnership is where all partners participate to some extent in the day-to-day
management of the business.
■ A limited partnership is one formed by up to 20 people. It has at least one general
partner who controls the company’s day-to-day operations and is personally liable for
business debts, and passive partners called limited partners.
Company:
■ A company is a separate legal entity and can incur debt, sue and be
sued. The company’s shareholders (the owners) can limit their
personal liability and are generally not responsible for company debts
.A company is a complex business structure and has high set-up and
reporting costs. You can form a company as either a private (also
known as proprietary) or public entity.
Write a Business Plan…
A good business plan guides you through each stage of starting and
managing your business. You'll use your business plan as a roadmap
for how to structure, run, and grow your new business. It's a way to
think through the key elements of your business.
Components Of Business Plan:
■ Company Description. ...
■ Market Analysis. ...
■ Competitive Analysis. ...
■ Description of Management and Organization. ...
■ Breakdown of Your Products and Services. ...
■ Marketing Plan. ...
■ Sales Strategy.
Business Location:
When starting a new business choosing the location is most important and essential.
There are a number of factors that need to be considered in choosing a location for
a business. One of the earliest decisions any entrepreneur has to make is where to
locate his or her business.
Register a Business name:

■ To be identified for legal & business purposes

(i.e. “Ltd”, “Pvt Ltd”).
■ The name should not be similar to existing for
the company but In Sole Ownership there is no
such procedure is needed.
Thank-You 