If you’ve got a great idea on starting a new business but are actually confused on what to do and what not to do and also feel the task of setting up a business complicated then you’ve arrived at the right spot at GFCS Nepal we’ve got you covered up. Before you start the process let’s talk about something very important which is startup business planning
Although startups are a great thing, many startups in Nepal turn out to be a failure not because of the business idea but due to lack of proper business plan. At GFCS Nepal we’ve helped many emerging entrepreneurs turn their ideas into structured successful business. And now we’re looking forward to helping you as well.
Why does business planning matter in Nepal?
To be precise, starting a business is not only about ideas but a structured foundation and even better planning. It’s about turning the dream into a sustainable reality.
Benefits of having a proper business plan:
- Secured loans and funding
- Realistic goals
- Having proper knowledge of the market
- Managing finances well
- Assigning the budget on what’s important
- Avoiding the mistakes that beginners tend to make
Key elements of a startup business plan
1.Business idea and vision
Identification of the service that you are going to provide is quite clearly the most important thing of all. You should know which market to target and who your target audience are. It helps you to stay on track and motivated.
2.Market research
Study the market, where are its major scope of implementation, who are your competitors, what are consumers seeking from a business like yours, what are the pricing that others provide having similar business to yours and what are actually required in the market.
3.Business structure and registration
Choosing the business structure is the key you can register as:
- Solo ownership
- Partnership
- Private limited firm
- Public limited company
4. Financial planning
You must plan for your finances and work accordingly as without proper financing and economics planning your business may go on a loan and you may never realize it which has majorly been the main problem in Nepal
You need to estimate:
- Startup costs
- Operation cost
- Expected income
- Finding requirement
GFCS provides planning that helps you to manage your finances from day one.
5. Taxation and legal matters
- Income tax filing and audit
- VAT and TDS
- Tax return filing
6.Marketing and Branding
- Choosing a good name and logo
- Choosing the best location
- Creating social media pages
- Promotion through both online and offline medium
GFCS Can help you by providing digital marketing support targeting the Nepali audience.
7.Building your team
Startup is built by skilled individuals that work together in building your business you can consider:
- What people can fit in which sort of role
- Good team culture
- Whether you require full time or part time members
If you’re unsure about of who can be a perfect match for your team GFCS Nepal can provide assistance in hiring and selecting the exact individual you will require for setting up a great business
Common Mistakes Nepali Startups Make
Some mistakes that tend to prove the dreams of aspiring entrepreneurs as a headache:
- No proper financial plan
- Ignoring legal issues
- Miscalculating profits
- No proper expense monitoring
- Being too self oriented
Well good news, guess what with the help of GFCS you can possibly eradicate all the mistakes and build your dream business
How can GFCS help?
Well we here at GFCS believe in empowering new entrepreneurs with the right tools and guidance to turn their ideas to successful businesses. From business registration to market research, legal compliance, digital marketing and a structured business plan we provide it all. So we are a one stop solution to all the problems and difficulties that new startups may face.
Contact Us:
We are here to make your time very efficient. We will provide suggestions and offer experienced professionals that will help you to step up your business from scratch. We are going to help in every step of setting up a business and make the process of setting up a business as simple and easy as possible for you so that your ideas don’t go in vain. If you have queries or need any kind of help or consultation we are always at your service and our team is always eager to work and coordinate with you to make your work easier. For someone who needs our assistance you can contact us through
Phone: 9802360825
Email: [email protected]
Website:https://gfcsnepal.com/
Location: https://g.co/kgs/J6pufPG
You can also reach us through social media, we have our services available on facebook, Instagram and twitter. You can leave in a msg or a call and our team of experts will reach you as soon as possible. We look forward to working with you and helping you with the process of startup business planning.