How to start a business plan

The main idea of ​​the commercial project to be opened must be determined before starting to prepare for it, as it is preferable to choose an idea that is in line with the desires and talents that the individual possesses, and it is recommended to inquire about everything related to this idea, how to implement it, and the reasons that drive it to success, and the market study can also be viewed. 

Determine project operating costs

 Determining the financial costs necessary to start the project is an important matter, as many projects fail due to failure to observe this step, and the inability to secure the necessary costs. Continuity of business activity, and its price noting that private money insurance or bank finance may be obtained through loans.

Choose the form of ownership 

It is desirable to see the kind of possession of the business before beginning it, as individual ownership is one of the only types of ownership, because it needs just one tax number, and within the event of concern of carrying responsibility or having over one owner, alternative forms of ownership ought to be thought of. , such as: multiple ownership; Which means the presence of partners for the project, which is necessary to help distribute taxes, liability, and various commercial activities.

Organizing the project plan

Planning for a commercial project is one of the reasons for its success, so the project plan must be defined and written, as it contains its information, and can be summarized in the following elements: Cover page: Contains business information, managers' names, and speak to information. 

• Table of Contents: it's preferred to incorporate a table within the list of contents that shows the project setup sections.
• Government outline: A summary will be superimposed to point out the most points of the business plan at the top of the plan, and it is one to 2 pages. 
• The primary section: It contains an introduction regarding the company, an outline of its business, the company's outlook, its history, the merchandise and services that may be created and marketed, the company's location, and the range of hours required to work. 
• The second section: is the sales and selling department; i.e. trade analysis, listing shoppers and partners and therefore their profiles. 
• The third section: its management and operations, i.e. an outline of the project's progress, production team, staff, facilities, equipment, research, and different.
• Fourth Section: that is that the monetary statements; That is, deciding operational costs, future financial projections, sales and expenditure assumptions, and other financial matters. 
• Appendix: it's the lists and documents which will be enclosed for viewing by the persons who receive this plan, as these documents contain the non-public monetary statements of the company’s owners, tax decisions, resumes of managers, and get agreements.

Legal registration of the project 

The business project should be registered by the competent authorities to make sure its legality. The legal registration of the project also applies to all private and public companies, in addition to online businesses, where registration can be done by including a special name for the project, which is known as the trade name, and that registration requires For governmental and local taxes, and registration to obtain the necessary licenses for the location and type of the project, in addition to government registration to obtain a tax identification number, and taxes can be paid through a social security number.