• What are the potential sectors for business opportunities todIy in
the
global
village?
FORMALITIES
FOR
SETIING
UP
OF
A SMAll
BUSINESS
ENTERPRISE
The
formalities for setting up
of
a Small Business Enterprise is gi
ve
n in Fig. 5.1.
1.
Selection of a Project
A strong entrepreneur is the
mo
st vital aspect of every successful projec
t.
In order to
sel up a small-scale industry, a suitable project
ha
s to
be
decided upon.
Thi
s involves
se
lecting a product
or
service,
and
a l
oca
lion for the unit. Based on these selectio
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