Steps to Starting a Business
Starting a business in Rwanda requires an entrepreneur to plan, make decisions in relation to location, Size, investment required, supportive institutions,  and if you don’t want to remain in the informal sector, then ensuring that you are registered at the Business Registration Office, Rwanda Development Board.

Step1: Market Research (Market Needs Identification)
Most businesses don’t conduct a market research, but this is a very essential part of business that wants to provide goods or services that are market driven and satisfy the needs in the market.
It also provides relevant information during your business planning process.

Step 2: Business planning
Old school Rwandan entrepreneurs have their business plans in sketchy notes or in their minds. Modern entrepreneurs develop a business plan or feasibility study depending on the size of the Business.
The written and clearly elaborated business plan will help you map out how you will start and run your business successfully in a given period of time. Remember a business plan is a dynamic document.

Step 3: Business Location
Choose a business location that is conducive to your business category, in terms of your business daily operations and target market or shipping facilities to the target market. Consult local leaders and environmental experts to learn about key issues to consider before stating your business in that specific locality.

Step 4: Financing your business
Identify reliable sources of finance i.e. your own money or use financial institutions. Find out if there are any sector specific financial schemes that can support your business.


Step 5: Registering your business

Business registration takes 24 hours at Rwanda Development Board and you have your trading license. A photocopy of your ID is required, go with it.
Here you will have to decide on the type of company you want to run, you will get TIN No. And all issues relating to the Social Security of your employees are solved from this one stop center office.

Step 6: Decentralized taxes

Depending on the location of your business in terms of the district and Sector, find out how much is the local taxes and make sure you make payments for what we normally refer to as “IPATANTE” in Kinyarwanda.

Step 7: Other obligations from the local authority
In the sector where you have decided to locate the operations of your business, inquire if there are no special payments made to the local authority. These payments may be payments for garbage collection, security among others

Step 8: Becoming an entrepreneur at your own level
At this stage you are probably thinking about hiring competent employees and harmonizing earlier developed business plan with the changes that have taken place while you were busy establishing your business. It is important to check the following information again:
•    Determination of adequate inventory to keep
•    Your raw materials suppliers,
•    The production process,
•    The cost of products or services and the price,
•    Delivery of your products or services to the target markets,


Indigo Int. wishes you a very successful business venture;
For more information about how to start a business, contact Indigo Int. Head Offices
 

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