Highlighting how to find the best opportunities, how to plan properly and how to register a business.
Starting a business in Tanzania involves four steps. First, find the best opportunity that has high potentials. Second, prepare lean plan for the business. Third, register the business. Fourth, get proper premise and operationalise the business.
1. Finding potential opportunities
List of business opportunities in Tanzania
Protected: Machines & Equipments Business in Tanzania – Food Processing Machines & Equipments
Hardware Business in Tanzania: How can a Foreign Company enter Tanzania’s Hardware Market
Mining Business in Tanzania: Sand mining in lakes, riverbeds and coastlines
College Business in Tanzania: Information, Communication & Technology College
College Business in Tanzania: Tourism College (Potentials and regulations)
College Business in Tanzania: Health College (market, regulations and feasibility)
After having identified a business that you can potentially pursue in Tanzania, you then need to prepare a lean plan for the business. The following part provides details on this.
2. Preparing lean plans
Key characteristics of a lean plan include:
- Simplicity: It is typically a one-page document or a very concise document that can be easily understood and updated.
- Core Elements: It covers the fundamental elements of a business plan, such as the business concept, target market, value proposition, key metrics, and financial projections.
- Flexibility: A lean plan is designed to adapt and evolve as new information, market changes, or feedback become available. It’s not set in stone but can be adjusted to reflect new insights and challenges.
- Focus on Key Priorities: It hones in on the most critical aspects of the business, allowing entrepreneurs to concentrate their efforts on what matters most.
- Communication Tool: It can serve as a communication tool within a business or for external stakeholders like investors, advisors, or lenders.
- Actionable: A lean plan is geared towards actionable steps and immediate implementation rather than extensive documentation.
The main purpose of a lean plan is to provide a clear and quick overview of a business idea or strategy. It’s especially useful in fast-paced and dynamic environments where traditional business plans might be too time-consuming and rigid. As the business evolves and grows, the lean plan can be expanded into a more detailed business plan if needed.
Samples of lean plans
How can a foreigner acquire a building materials (hardware) company in Tanzania
Hardware Business in Tanzania: How can a Foreign Company enter Tanzania’s Hardware Market
After preparing the lean business plan, the next step is to register the business. The following section provides details on this.
3. Registering the business
Articles related to business registration in Tanzania.
How to Apply for and Obtain TALA – Tourism License in Tanzania
How to register for OSHA in Tanzania using the OSHA Online Services System (WIMS)
How to apply and obtain a business license in Tanzania: Procedures
How to get NIDA Number (NIN) from National ID Authority Tanzania?
After registering the business as a company, proprietorship, or partnership, you need to find a suitable location and operationalize the business.
4. Getting proper premise and operationalising the idea
Kessy Juma is the founder of Miamia Trading Company (miamiatz). He is a Techpreneur with roots in accountancy. He believes that any business is good as long it caters the right market using the right strategy. |