Mauritius

February 26, 2013

The Obsession of Entrepreneurship

For many Mauritians, opening his own business often means living the good life. For some, being your own boss is a no-brainer, for others however, it is a dream that will never succeed.

Who does not dream of being your own boss? More Mauritians choose to make their own account. However, being an entrepreneur is not easy. It is a heavy responsibility that many people do not realize before embarking in business. According to figures from the Registrar of Companies and Businesses, hundreds of companies are emerging daily. And about two years, the trend is to restore. 

It is 11 o'clock the Registrar of Companies and Businesses in Port Louis. The reception is invaded by those from their record company. In half an hour away, about twenty people showed up to start the paperwork. Nowadays, everyone, regardless of the situation finanière and age, wants to get into the business world. What surprised us the most is that the number of women exceeds that of men. 

Any aspiring entrepreneur must necessarily record the nature of its business, according to the Business Registration Act. Whether the sale of food, clothing or accessories! Among those who were interviewed, much seems to have a great knowledge of the business world. But they decided, nevertheless, to cross the Rubicon. 

For most, this form is a real puzzle. Not being accustomed to the English or are illiterate, many struggle to get out and seek help from other applicants. 

Sultana (pseudonym) is a Pakistani married to a Mauritian. Complete the paperwork for it is an insurmountable task. After trying in vain to speak to the receptionist, she approached us for help with hand in a pile of paperwork. "I do not understand what I write in these forms. I asked the receptionist earlier, but I still do not understand, "she says. 

Sultana, housewife, wants to start importing rice. While initially it was thought that the paperwork would be an easy step, but it has hit a real wall. "There are technical terms that are unfamiliar to me. I'm in an awkward situation and I do not know how I could complete all the paperwork, "she said. 

Sonia, a young university, accompanied her mother. "I knew she would struggle to cope with the paperwork. This is why I came. Fortunately I accompanied, otherwise it would be lost. We want to open a small business specializing in the manufacture of 'mines'. Knowing that, now, it is mandatory to register his business, we wanted to do things according to the 
rules ", says the young woman. 

Success does not always go 
Being your own boss is not child's play. Entrepreneurship has huge challenges and requires considerable expertise in trade. Many people have after a few years, put the key under the mat and declare bankruptcy. From 2006 to January 2013, 5,456 businesses have closed their doors. 

This is the case of Moosabye Rossan, 59. In 1995, he decided to open a company specializing in the production of underwear. For this, it employs four people and develops a small factory at home. In 1997 to expand his business, Moosabye Rossan approach a bank for a loan of several hundred thousand rupees. 

"Some time after that I was ready, I got sick. At the same time, business has stopped working. I could not pay my credit. In 1999, I had to close shop. And as the bank had mortgaged my house in December of the same year, it was seized and sold at the bar. My son has had to borrow to turn to buy the house. Since I live in such an ordeal that I am followed by a hospital psychiatrist Brown-Sequard, "says Moosabye Rossan. 

Our interlocutor is, however, convinced that a flair for business. Most recently, he went to the Development Bank of Mauritius for a loan to open another business, but his request was rejected. Today, he finds himself on the straw and no income. 

Advice and guidance - The SMEDA to listen 
In Mauritius, the authorities have implemented several programs to encourage entrepreneurship. This is the case of the Small and Medium Enterprise Development Authority (SMEDA). In order to provide all necessary support to aspiring entrepreneurs, advisors of SMEDA are available to them. Their mission is to explain all the steps to create a business and direct them to other institutions such as the Development Bank of Mauritius for loans. 
Training sessions on a professional as well as financial management are proposed. It should be noted that the business must be registered with the Registrar of Business and must approach the municipality for an operating permit. 

Procedures 
For registration of a company, the identity card of the applicant must be produced at the time of registration, and the application. A 'Business Registration Card is issued to the person immediately after payment from Rs 125 to Rs 1500, depending on the number of employees in the company. 
Booking a business name, which costs Rs 200, is not required. 
The incorporation of companies can be made online or by submitting the required documents to the Registrar of Companies. 

The following documents must be submitted together with the application form: 
(1) Original certificate of reservation 
(2) Photocopy of passport for non-resident or ID Cards for Mauritians 
(3) Copy of residence permit if the sole director is abroad 
(4) Proof of residence of the Director (Ex: Utility Bill)-CWA, CEB, MT 
(5) Proof of address recognized by a secretariat in the case of an individual business 
A 'Certificate of Incorporation' comes after a payment 
Rs 3000 for a private company, Rs 13,500 for a public company and Rs 13,500 for a foreign company. 

Vishal Ragoobur Economist: "No good or bad time to start" 
The Economist Vishal Ragoobur believes that the current economic situation is difficult for business. Nevertheless, he said, "those who aspire to make their own business will do everything to realize their dreams, no matter the economic climate." 
He emphasizes, however, that engage in entrepreneurship involves risk. "There is no good or bad time to launch his business. It is true that the risks are higher now, given the global economic situation. Some, before undertaking anything, studied the market and preferred to refer their project later. 

Others, however, rush headlong. Which in some cases has paid off, "says the economist. He argues that the success of a project depends primarily on good planning and a good strategy. "A crisis does not mean that the business will not work. It is, however, important to know what it starts. The service sector, such as nursing homes, nursery schools, kindergartens, work well even in times of crisis. Trades such as mechanics, plumbing, painting also resistant. By cons, it is advisable to open a shop or smoking. The crafts and textiles are two sectors that do not work very well at the moment. On the other hand, because of the competition, in times of crisis, small businesses are less profitable, "said Vishal Ragoobur. 

Why do so many Mauritians want to be their own boss? To this question, Vishal Ragoobur responds to Mauritius, there is a certain culture of entrepreneurship. "This may be because they are not satisfied with their current life or they need a source of additional income. Some have good ideas and capital to invest, "said the economist. 

Prabha Chinien, the Registrar of Companies: "Without 'business plan' is bankrupt insured" 
> Entrepreneurship seems to be popular at the moment ... 
Interest in entrepreneurship has increased dramatically. We record over 70 'individual businesses businessman, and a thirty companies every day. From 2006 to January 2013, 125,316 companies and 46,911 individual companies have emerged. We encourage entrepreneurs to register as a 'Company' because a company is subject to a legal framework. Entrepreneurs who have registered their business under the company status are less at risk to large losses in case of bankruptcy. The 'craze' is a reality of business and on 'individual businesses businessman', we note that the majority is engaged in food. Companies, for their part, often turn to the import and export. 

> What are the registration procedures for 'individual business' and a company?
 
I want to emphasize that we are the starting point regarding the recordings. We are available to entrepreneurs to propose solutions. The companies are registered under the Business Registration Act. This law applies to any person engaged in Mauritius and Rodrigues. Registration can also be done on the Internet and forms are available and can be downloaded from our website: http://companies.gov.mu. 

> How is it that some 'individual businesses businessman, close their doors after a few years of existence?
 
For the period 2006-2013, 3,473 individual companies have ceased operations. Various reasons for this. We noticed that some of these companies have not developed a 'business plan'. And without 'business plan is provided bankruptcy. Some, however, were able to brilliantly head out of the water. When their company began to falter, they have made changes or completely changed direction. 

Pursad hull: "I do this job with pleasure" 
Despite the ups and downs that may arise in the management of a company, in 2003, Carina Pursad, 31, began the business of slippers lycra. Today, she says does not regret his decision. "At first, like any novice, I asked myself a lot of questions such as: Where to find the money? How to advise me? 

What type of business I run? However, the National Empowerment Foundation has been of great help. Through this organization, I was able to follow a course in Business Management and received counseling to manage my budget. I created my company alone and I recorded a few years later. I have to pay Rs 1500 each year for license renewal. After recording, I received a Booster Loan of Rs 150,000, "she says. 

However, the only concern, according Pursad Carene, for rent for a location. "The authorities do not organize enough fairs. I earn quite a good living and I do this job with pleasure. 

I have not accountable to anyone. However, proper planning is required. I have three children and, therefore, I have to organize myself to not go bankrupt. I spend a lot of time marketing and customer service, "she said. 

 

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