Start your Business
Why do you need us?
Entrepreneurs need outside experts who have both the expertise and experience to advise you what to do and execute your plan into action saving you money, time, and aggravation. Entrepreneurs need outside experts who can do the work and at the same time provide guidance on what needs to be done. HBF Direct ensures and helps entrepreneurs from day 1 to achieve their goals in the future. Idea validation is the process of testing and validating an idea prior to the launch of your business name, product, service, or website. HBF understands and analyzes the idea of the entrepreneur. Accordingly, this includes Market research which includes competitor analysis, analyzing growth prospects, understanding future outlook, target market analysis, swot analysis, and so on.
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HBF Direct limited helps companies to start a business , We help companies on every step.
10 steps to start your business
Starting a business involves planning, making key financial decisions, and completing a series of legal activities. Scroll down to learn about each step.
1. Conduct Market Research
Market research will tell you whether there is a chance to transform your idea into a profitable company. It is a method of gathering information about potential customers and existing businesses in your field. Use the data to gain a competitive advantage for your business.
2. Write Business Plan
Your business plan serves as a basis. It is a road map for structuring, running, and growing your new company. You'll use it to persuade people that working with you — or investing in your business — is a wise investment.
3. Fund Your Business
Your business plan will assist you in determining how much money you will need to launch your venture. If you do not have that amount on hand, you will need to collect or borrow the money. Fortunately, there are more options than ever before for obtaining the capital you want.
4. Business Location
One of the most important decisions you can make is the location of your company. If you're starting a physical store or an online store, the decisions you make will have an impact on your taxes, legal obligations, and revenue.
5.Choose a business structure
The legal framework you chose for your company will affect your business registration requirements, tax liability, and personal liability. Anything from day-to-day activities to taxes and how much of your personal assets are at risk is influenced by the company structure you select. You should choose a business arrangement that provides you with the appropriate combination of legal rights and benefits.
6.Choose a Business Name
It's not easy to come up with the right name. You'll want one that embodies your brand and expresses your personality. You'll also want to ensure that the company name isn't already in use by anyone else. With a little imagination and market analysis, you will come up with the perfect business name. If you've decided on a name, you can secure it by registering it with the appropriate authorities.
After you've decided on the ideal business name, it's time to make it legal and protect your brand. If you do business under a name other than your own, you must register with the federal government and, possibly, your state government as well. It depends on location and business structure.
8. Tax Registration
Your employer identification number (EIN)(CIN) will be required for important steps in starting and growing your company, such as opening a bank account and paying taxes. It functions similarly to a social security number for your business. Some jurisdictions, but not all, require you to obtain a tax ID as well.
GST or VAT depend on country
9.Apply all other Licences
Stay legally compliant to keep the company going smoothly. The licenses and permits required for your company will differ depending on the industry, state, venue, and other factors.
10. Open Business Account
A small business checking account will assist you with legal, tax, and day-to-day operations. The good news is that if you have the required registrations and documentation, it is simple to set one up.
Before Start Process
- Market survey
- Demand & Supply
- Major players & competitors Study
- Permissions & Licences/ Approvals
- Investment needed
- Technology requirement
- Team required
- Company Incorporation
- Building Bylaws
- Building Policies & SOPs
- Start Hiring
- KRA Assign for team
- Quarterly Goal Sheet check
- Sales Audit
- HR Audit
- Finance Audit
- Operations Audit
Process to Start a Business Business after Idea Validation
- We then check the skill of the entrepreneurs and see if they are capable of running the business successfully.
- We also provide advice on the type of company that the entrepreneur should get registered, licenses required, approvals
- We also help the entrepreneur to select a favorable location to start his/her business. We provide services all over the world and after proper market research, we advise the entrepreneur on the best place in the world where he/she should set up the business.
- We create a list of the resources that are required to start the business and also help the entrepreneur with sourcing these things.
- We also help with other tasks like website development, website impression, and so on.
- We also create the policies required to run his/her company so that the entrepreneur can focus on the core of the business.
- We create all the above-mentioned things according to the budget of the entrepreneur.