The general perception to start business as a new startup for entrepreneurs is not clear and there is need to enumerate precisely the essential requirements as under:
1. Name of Business (different from person's own name) e.g. Haseeb & Sons, Moiz & Brothers, Wasay Enterprises, Impex, Gourmet, Bata, Services etc.
2. NTN Certificate (with name of owner and business)
3. Address of Business (if different from residential), it is recommended that it should be commercial place either in personal name or supported with rent agreement.
4. Valid CNIC
5. Business Letterhead
6. Business stamp (name of business and logo optional)
7. Trademark (logo and slogan) it is optional but recommended to have one and get it registered with IPO to protect the trademark and goodwill.
8. Bank Account in the name of business name (You can also give authority to one very close family trusted person so he/she can operate the account in case or urgency or inability due to any accident or disease etc.
9. If you want to export or import goods or services, you need to join membership of local Chamber of Commerce & Industry.
10. Register with relevant Labour Department under the Shop and Establishment Act/Ordinance and display registration certificate. (Mandatory)
11. Register and annually pay Professional Tax as applicable (Mandatory)
12. File Tax Return Annually (mandatory)
13. Register for General Sales Tax with FBR and/or Services Sales Tax with Provincial Revenue Authority as applicable
13. Website in the name of business (optional on need basis)
14. Visiting Card (optional on need basis)
15. Company Profile (optional but it is appropriate to have this)
16. Membership with business sector Association e.g. if you are cement distributor, join cement distributor association, if sugar mill, join sugar mills association etc.etc. (This is not mandatory but very relevant to remain connected and aware of policies)
BUSINESS STARTUP
