The Start-Up Checklist is an essential instrument to enable entrepreneurs in measuring the financial robustness of a business idea and to contextualise the activity and its strategy in the competitive business world.
At this stage, a Start-Up Program has been introduced in view of offering a comprehensive support bundle to businesses covering areas such as developing of business plan and marketing strategies, training for managerial and networking skills, market research, access to market, among others.
Entrepreneurs may also leverage on the project profiles available at the SME Mauritius Documentation Centre.
The business plan remains undeniably the most important tool Entrepreneurs can be equipped with. A good business plan should be blueprint on how they have planned out their businesses while demonstrating the feasibility and viability of the project.
It is important to note that a business plan opens access to finance, negotiate collaborations or strategic partnerships, convey information to suppliers, clients and allows business owners to avail from the wide array of grants or incentives offered by the Government of Mauritius.
The following points must be taken into consideration before designing a business plan:
Tips on business plan preparation
Who prepares a Business Plan?
It is advised that the entrepreneur prepares the business plan based in his/her experience, and then obtains professional advice for improving the business plan.
SME Mauritius offers free guidance on the preparation of a business plan.
Purpose of a Business Plan
A business Plan in an extremely important document for any entrepreneur. It shows the motivation and the desire of the entrepreneur to start an enterprise.
The business plan also displays the way that the entrepreneur will execute business activities. For instance, the business plan reveals information about the location, key components of the business activities, profile of the entrepreneur the marketing and the financial plan of the entrepreneur.
Banks require well developed business plans as one of the key inputs to provide finance.
Business Plan formats
You may download a simple business plan template by clicking the following link. one of the key inputs to provide finance.
It is important to keep in mind that specific business activities in Mauritius require clearance by licensing authorities. The licensing framework in specific sectors provides clear sets of licensing criteria and requirements within a well-defined and consolidated framework.
Below is a list of sectors & activities that require operating licenses from relevant authorities in Mauritius:
- Non-bank financial sector such as Securities, Insurance & Pensions, Global Business and other NBFI & Supervisory Framework: Financial Services Commission
- Internet Service Providers: ICTA
- Freeport activities: EDB & MRA
- Tourism activities such as tourism accommodation, skipper’s license operation of pleasure craft, restaurant nightclub amongst others: Tourism Authority
- Tertiary Education: Higher Education Commission
- Training Institute: Mauritius Qualification Authority
- Pre-primary education: Early Childhood Care and Education
Businesses can choose the structure that best suits them. The Companies Act 2001 provides for a variety of options in terms of nature and type of company and each structure offers various benefits and considerations. The main types of business structures are as follows:
Business (Sole trader)
- No person shall carry on any business in Mauritius unless he is registered with the Corporate and Business Registration Department. The services are available electronically on their webpage.
- You will be required to pay an annual registration fee and an annual trade fees (not for all business activities) to the CBRD.
- Guidelines and instructions on how to register your business, incorporate your company and the relevant fees are available by clicking the following link.
Corporate and Business Registration Department
One Cathedral Square Building, Jules Koenig Street, Port Louis
Republic of Mauritius
Tel.: + (230) 202-0600 | Fax No: +(230) 212-4480
Some business activities require permits and clearances from the relevant authorities such as Building and Land Use Permit, Occupation Permit, Environment Impact Assessment (EIA) Licence, Excise License, Registration of Training Institution among others.
The National Electronic Licensing System (NELS) is an online platform where you can apply for certain licenses.
Once registered, a business can open a business bank account. The list of registered commercial and corporate banks operating in Mauritius is available on the website of the Bank of Mauritius.
The following documents are generally required by banks:
- Certificate of Incorporation.
- Business Registration Card.
- Certified copy of the company’s board minutes authorising the opening of the account(s).
- Latest annual return applicable for companies being incorporated at least 18 months of operations.
Business plan mentioning source of funds.
- Additional documents may be requested by banks on a case-by case basis. In addition, banks reserve the right to reject the business account application.
Taxes administered by MRA are all on a self-assessment system. Under that system, persons liable to pay the
relevant tax or duty have to submit declarations at the end of specified periods and pay the tax, if any in
accordance with the declarations. A guide on taxation applicable to SMEs.