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 apply it, and the reasons that drive it to success, as can be found in the market study.
Determine project operating costs
Determining the financial costs necessary to start the project is important, as many projects fail due to failure to observe this step, and the inability to secure the necessary costs, which is called hitting the financial ceiling (in English: hitting a financial wall), and for this it is preferable to secure sources of cash to maintain Continuity of business activity, and it is worth noting that personal financial insurance or bank financing can be obtained through loans.
Choose the form of ownership
It is preferable to determine the type of ownership of the business before starting it, as individual ownership is one of the simplest forms of ownership, as it requires only one tax number, and in the event of fear of carrying responsibility, or having more than one owner, other forms of ownership should be considered. , such as: multiple ownership; Which means the presence of partners for the project, which is necessary to help distribute taxes, liability, and various business activities.
Project planning is considered to be 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 contact information.
Table of Contents: It is preferable to include a table in the list of contents that shows the sections of the project plan.
Executive summary: A summary can be added to show the main points of the business plan at the end of the plan, and it is one to two pages.
The first section: contains an introduction to the company, a description of its business, the company’s outlook, its history, the products and services that will be produced and marketed, the company’s location, and the number of hours needed to work.
The first section: contains an introduction to the company, a description of its business, the company’s outlook, its history, the products and services that will be produced and marketed, the company’s location, and the number of hours needed to work.
The second section: the sales and marketing department; i.e. industry analysis, listing clients and partners and their profiles.
Section Three: Management and Operations, i.e. a description of the project’s progress, production team, staff, facilities, equipment, research, and others.
Fourth Section: which is the financial statements; That is, determining operating costs, future financial projections, sales and expenses assumptions, and other financial matters.
Appendix: It is the lists and documents that can be included for viewing by the persons who receive this plan, as these documents contain the personal financial statements of the company’s owners, tax decisions, resumes of managers, and purchase agreements.
Legal registration of the project The commercial project must be registered by the competent authorities to ensure 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 through the inclusion of a special name for the project, which is known as the trade name.
This requires registration for government and local taxes, 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 also be paid through a social security number.
