Biz Chat: Tips for establishing a start-up (part 3)

PHUKET: When it comes to starting your own business, it’s easy to get lost in the details. However, there are a few necessary steps you can’t let fall between the cracks. These are the last three crucial steps (see part 1 here and part 2 here).

As a business owner (or prospective owner), you have to obtain the appropriate licences and permits. Different fields in every country are different when it comes to licensing requirements. But it’s your job to figure out which one is specific to your business. To that end, enlist the help of the local business community and small business agencies – people love talking about their business and themselves.

Ultimately, it’s up to you to find out what the necessary certifications really are. These can vary based on your visa type, country of origin, proprietary conditions and the amount of money you are willing to invest into your new enterprise.

As an employer, you’ll have certain responsibilities. Firstly, you need to hire employees and give them insurance and, obviously, you need to pay your taxes. Eventually, you’ll have to pay them, and it’s your job as the head honcho to put the appropriate systems into place. Hiring agreements, tax returns, medical and accident insurance contracts all need to be laid out and followed through in order to avoid the wrath of ‘The Man’ if something unfortunate happens.

Lastly, get help. Local government agencies are all there to help you get through this, whether you know about them or not. They will give you advice on what is and isn’t allowed in the country, and not just to help you make profits. Hopefully, they’ll help you figure out the dos and don’ts of getting your business off the ground, and to avoid unnecessary headaches in the future.

Zohaib Sikander is the Business Editor at the Phuket Gazette. He has a degree in entrepreneurship and operations management. Drop him a line, ask questions and/or suggest ideas for articles at zo@phuketgazette.net.

— Zohaib Sikander