Run a Business in Sri Lanka
Learning run a business in Sri Lanka can be complicated. You can usually expect a lot of red tape associated with setting up a business in third world countries, and you should do your homework before deciding to run a business in Sri Lanka. However, Sri Lanka is a country that appeals to many businesses. Its economy is booming, and it offers great opportunities for new businesses.
Instructions
1. Locate a local business consultant to help you run a business in Sri Lanka. A consultant can be invaluable to help you navigate the registration and licensing process of starting your own business.
2. Submit your company name with the Registrar of companies. The process takes around two days to complete to reserve the name for 3 months while you complete the rest of your business startup process.
3. Register your business with the Registrar at the Company Registry. You will submit your company's articles of association and the names of the people who will serve on your board if you incorporate.
4. Obtain your taxpayer identification number. You must be present at the Inland Revenue Department to receive and complete your application.
5. Contact the Department of Labor to get an Employees Provident Fund and Employees Trust Fund. Each fund is government run and owned by the Central Bank. Businesses must pay gratuities to any employee that works for them for five or more years if you have more than 15 employees.
6. Advertise and market your business locally using Sri Lanka's print and electronic media sources.
7. Set up a website for your business and establish an Internet marketing strategy to promote your products or services globally. Track your marketing and profit progress as your business thrives.
