A business enterprise is an economic institution engaged in the production and/or distribution of goods and services in order to earn profits and acquire wealth. The scope of a business is very wide. It includes a large number of activities which may be classified into two broad categories i.e. Industry and Commerce. Production of goods is the domain of 'Industry' and distribution comes under 'Commerce'. Every entrepreneur aims at starting a business and building it into a successful enterprise. Innovation and risks are the two basic elements of a good entrepreneurship.
The whole process of starting a business begins with writing a business plan. A good business plan is the key to setting up a successful business. Once a plan is prepared, the entrepreneur faces various challenges while implementing the plan.
The Commissionerates or Directorates of Industries are the nodal agencies in different States which assist and guide new entrepreneurs in starting up an industrial unit in the concerned State. They provide an interface between industry and other agencies for industry inputs and enable the entrepreneur to get different industrial approvals and clearances from various departments at a single point-Single Window. They sanction incentives to eligible industrial undertakings and create a transparent and automatic system of allotment of scarce raw materials to industrial units. Hence, a new entrepreneur must approach the concerned Commissionerate while setting up a business firm.
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