Sample Business Plan

Starting a business in Bangladesh involves several steps, including planning, registration, and compliance with local regulations. Here is a comprehensive guide to creating a business plan and the necessary steps to start a business in Bangladesh:

1. Business Plan Development

A robust business plan is crucial for outlining your business idea and attracting investors or securing loans. Here are the key components:

Executive Summary

• Overview of the business concept.
• Mission statement.
• Summary of the product/service offerings.
• Financial highlights.
• Business goals.

Business Description

• Detailed description of the business.
• Market need and solution provided.
• Unique selling proposition (USP).

Market Analysis

• Industry analysis.
• Target market and customer segmentation.
• Competitive analysis.
• Market trends and growth potential.

Organization and Management

• Business structure (e.g., sole proprietorship, partnership, limited company).
• Organizational chart.
• Profiles of the management team and key employees.

Products or Services

• Description of products or services offered.
• Benefits to customers.
• Product lifecycle.
• Research and development (if applicable).

Marketing and Sales Strategy

• Marketing plan.
• Sales strategy.
• Pricing model.
• Distribution channels.

Financial Projections

• Income statement.
• Cash flow statement.
• Balance sheet.
• Break-even analysis.
• Funding requirements and use of funds.

Appendices

• Resumes of the management team.
• Product images.
• Additional market research data.

2. Business Registration and Licensing

Choose a Business Structure

• Sole Proprietorship
• Partnership
• Private Limited Company (Ltd)
• Public Limited Company (PLC)

Register the Business

1. Name Clearance: Obtain name clearance from the Registrar of Joint Stock Companies and Firms (RJSC).
2. Draft Documents: Prepare the Memorandum of Association (MoA) and Articles of Association (AoA).
3. File with RJSC: Submit the necessary documents, including MoA, AoA, and Form I (Declaration on Registration).
4. Obtain Certificate of Incorporation: Once approved, you will receive the Certificate of Incorporation.

Trade License

• Apply for a trade license from the local City Corporation or Municipality.

Tax Identification Number (TIN)

• Obtain a TIN from the National Board of Revenue (NBR).

Value Added Tax (VAT) Registration

• If applicable, register for VAT with the NBR.

Other Licenses and Permits

• Depending on the industry, additional licenses or permits may be required (e.g., environmental clearance, industry-specific permits).

3. Setting Up Operations

Open a Business Bank Account

• Open a corporate bank account to handle business transactions.

Set Up Office Space

• Choose a suitable location for your business operations.
• Obtain necessary office equipment and supplies.

Hire Employees

• Recruit and hire employees.
• Comply with labor laws and regulations.

Develop IT Infrastructure

• Set up the necessary IT infrastructure, including computers, software, and internet connectivity.

4. Marketing and Launch

Branding

• Develop a brand identity (logo, business cards, website).

Marketing Campaigns

• Plan and execute marketing campaigns to promote your business.

Launch Event

• Organize a launch event to introduce your business to potential customers and stakeholders.

5. Compliance and Ongoing Management

Accounting and Bookkeeping

• Implement an accounting system to track finances.
• Ensure regular financial reporting and audits.

Legal Compliance

• Stay compliant with local laws and regulations.
• File annual returns and tax documents.

Continuous Improvement

• Monitor business performance.
• Adjust strategies based on market feedback and performance metrics.

By following these steps, you can establish a solid foundation for your business in Bangladesh and navigate the regulatory landscape effectively.

Click here for a Sample Business Plan Format