Starting a business enterprise is not a small task. It requires perseverance, patience and intelligence to start a business. Every business needs a selling idea to launch a profitable enterprise whether a company for profit, or an organization for non-profit. The selling idea must have the potential to undertake a business activity that generates financial transactions with the aim of producing profit or service that generates some financial volume.

The starting of a business goes through some steps that are mentioned below-

Get familiar with business plan

• 1. Write down a business plan that focuses on your product or service, the people who are going to buy the product or make use of the service and finally the plan must be based on the markets where you are going to sell your products.
• 2. Conduct business research concentrating on the viability of generating a sufficient amount in any currency for qualifying for the status of an operable business. The market research should be based on qualified data that supports the business idea.
• 3. Look for the funds to help your business grow. You should draw in enough capital to sustain the business for a long-time venture. Don’t concentrate on short term goals. You should have enough money to give the business a decent time to prove its viability.
• 4. The next important thing in starting your business is to pick a location. The location has to be ideal which helps in the growth of your business where the people come often to buy products. Though in the days of the internet, the physical location is of little consequence but still, it is important to have an operating office.
• 5. Get the legal structure so that you could fulfill all the business requirements as to taxation and the other uses. The structure should define your personal assets and provide you with a plan to protect and safeguard them.
• 6. Decide on your business structure as to whether you’re going alone or in partnership and whether you are planning a public limited liability company or privately owned.
• 7. The basic business structures, ownership and other data are given below

Business Structures Defines the type of organization	Ownership	Liability	Taxes
Individual	One person enters into the business contract	Unlimited personal responsibility and accountability	Self-employment taxation and personal employment
Partnership	Two or more people enter into a contract to provide the assets	Unlimited personal accountability unless structured as limited corporation or	Self-employment and personal ideas and enmotion served well searched and meaningful content
Limited Liability Company	One or more partners	Owners are not personally liable	Self-employment tax or corporate tax
Corporation	One or more partners	Owners are not personally liabl
Corporation Non -Profit	One or more people	Owners are not personally liable	Tax-exempt, but corporate profits can't be district