How to start a business from scratch: 10 winning tips

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asimd23
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Joined: Mon Dec 23, 2024 3:24 am

How to start a business from scratch: 10 winning tips

Post by asimd23 »

If one of your goals is to know how to start a business once and for all, here are some basic but winning tips that will help you start a business from scratch with solid foundations to make it a success.

Remember that the most important thing will always be to put passion into what you do and work for a clear reason, but a little help with these steps won't hurt. Keep reading!


What do I need to start a business?
In order to start a business in Latin America, you will phone library need to meet certain tax requirements. Here we mention the main ones so that you do not have any problems.

Register with the corresponding institution: you can do this online and you will have to choose a tax regime according to your activity. In Mexico it is the SAT and in Argentina it is the AFIP, for example.
Issue electronic invoices: in order to keep your accounting records with these agencies, you must issue receipts containing your tax information.
Land use permit or authorization for your premises: if your business is a physical establishment, you need to issue this permit.
Notice of opening of your establishment: this is also done on the SAT portal in Mexico, while in Argentina form 960/D must be submitted to AFIP.
An online store with a payment gateway included: if your business will be online, then use a platform that allows you to choose between several payment gateways so you can better manage your accounting.
What is the most profitable business for 2024?
E-commerce in Latin America is a business that continues to grow, unlike other geographies such as the European market, and in the coming years its value is expected to increase due to new consumer habits.

According to the data we collected in NubeCommerce , our annual e-commerce report, there was a 73% increase in turnover corresponding to online sales when comparing the first half of 2022 with that of 2021.

According to the most recent AMVO report on HotSale 2024, the most sold items in Mexico through e-commerce were:

Fashion (40%)
Beauty and personal care (24%)
Computers, tablets and cell phones (23%)
Audio, television and video (20%)
Household appliances (17%)
Consoles and video games (16%)
Large appliances and white goods (14%)
Furniture and home (14%)
Toys (13%)
Home care (13%)
The best-selling categories (per unit) in Argentina in e-commerce were:

Food and Drinks
Home, furniture and garden
Accessories for Motorcycles and Cars
Cosmetics and Beauty
Hygiene and Personal Care
By looking at these categories, you can get an idea of ​​the type of business you could start by 2024 by creating your own online store and starting a profitable business that will also continue to grow in the coming years.
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