Four steps to plan a company formation

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The steps which are necessary to plan for a company formation are:-

  1. What is the company structure - This identifies the type of business the company will run as well as the sectors they will serve (education, finance, legal, automobile, etc.).
  2. Knowledge about the service and its market - This indicates whether or not the services that the company will provide to its target customers have been filled by other competitors. If yes, they should make an alternative way for the execution of the services to reach their terget customers.
  3. Proper planning of Companies Income & Expenditure -  This means that every company should properly plan its business activities and the types of expenses it will incur in order to turn a profit.
  4. Business Forecasting - Here, the company learns what its market position will be after a few years, based on its services and customers.

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