For starting an industrial project, an entrepreneur must normally follow the following process:
- Know the project or products to be manufactured
- Get a project profile which must provide brief information on the project or products to be manufactured
- Decide location where the entrepreneur is likely to put up the project
- Understand the procedures and formalities which are required to be completed before taking up the project for implementation
Get a detailed project report prepared. It must indicate:
- market potential of the products to be manufactured
- technology aspect
- plant and machinery requirement and availability
- raw materials with specifications
- land and building requirement
- utility requirement namely power, water, steam and others
- manpower requirement
- financial arrangement and profitability
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