Today, youths are advised to consider entrepreneurship for their career instead of looking for a job, but many of us do not know what are the steps to be taken to start a business. The Small and Medium Enterprises Development Authority (SMEDA) is a parastatal body under the aegis of the Ministry of Business Enterprises and Cooperatives, which promote and develop entrepreneurship in Mauritius.
Below are 10 steps identified by SMEDA to launch your own business in Mauritius:
Step 1: Conception of project/Business idea
Project profiles are available at the SMEDA Documentation centre
Step 2: Preparation of business plan
Format of business plan is available at SMEDA
Step 3: Deciding on form of business
Sole trader/ Partnership/ Company/ Co-operative Society
Step 4: Choosing the right location
Home based business/ Rent/ Purchase/ land lease
Step 5: Registering the business
The business should be registered with:
Registrar of Businesses
c/o Registrar of Company
One Cathedral Square Building
Jules Koenig Street, Port-Louis
Tel: 211-4460 Fax: 208-7263
Step 6: Apply for Registration with SMEDA
Small Enterprise Certificate: Enterprise having an annual Turnover not exceeding Rs 10 M
Medium Enterprise Certificate: Enterprise having an annual Turnover of more than Rs 10 M but less than Rs 50 M.
Note: A registered enterprise with SMEDA may obtain a Building & Land Use permit (see in next step) with local authority within 3 Days after the “effective date” given to the application once the relevant officer is satisfied with all relevent documents (newspaper publications, certificate of notification, legal notice) have been submitted together with the application.
Step 7: Apply for Building and Land Use Permit (BLP) with local authority
Check with Planning Department of Municipality (urban area) or District Council (rural area) whether a Building and Land Use Permit (formerly Development permit & Building permit) is required to start your proposed business.
- Check which guidelines would be applicable
- What is the zoning and policies applicable to your site as per provisions of the outline scheme.
Step 8: Financing the project
- Banks (Development Bank of Mauritius Ltd- DBM, Commercial banks etc.) / Leasing companies
- Venture Capital (Quasi-Equity, SME Partnership Fund Ltd)
Step 9: Implementing the project
- Pay trade fee with local authority
- Recruit people/ purchase equipment, raw materials, accessories etc.
- Install machinery, equipment and furniture/ Verify systems in place to ensure safety
Step 10: Planning and Organising Business Activity
- Procurement/ stores/ Production
- Sales/ Advertising and Marketing
- Finance/ Human Resources
- Office and Administrative Work
For more information contact SMEDA
Source: Personal Contact with officer from SMEDA