About Us

WHO WE ARE

Who We Are at FWEAN - Our Vision and Mission

FWEAN has been supporting women entrepreneurs in various ways. It was time for FWEAN to explore the ways of sustainability and continue its business support services to women entrepreneurs even if they didn’t have donor-funded projects in the pipeline. In 2016, the Business Development Center (BDC) was conceptualized to support entrepreneurs, particularly those in the informal sector, by providing them with resources, training, and guidance to help them grow and formalize their businesses. This center will offer services such as business counseling, training programs, access to finance, and networking opportunities to accelerate the businesses of women entrepreneurs. This is when FWEAN decided to start with its e-commerce platform. With support from the International Labor Organization (ILO) in 2016, as part of the Way Out of Informality project, FWEAN created an e-commerce platform called WinBiz (www.winbiz.com.np), which was launched in conjunction with FWEAN’s first International Women’s Trade Expo in Nepal. This initiative supported women entrepreneurs have access to digital shop and access to mass market.

FWEAN came up with a solution that aims to hold hands and help women entrepreneurs work on their business sustainability. FWEAN’s Business Development Centre (BDC) is a one-stop hub that will serve women entrepreneurs to access business-related services that will guide them to run a sustainable business. Whether it’s a new business or a business looking to grow, all the needed guidance will be accessible through the Business Development Center.

The Significance of Business Registration

Legal Recognition and Credibility

Business registration grants legal recognition to your enterprise, separating personal and business liabilities. This legal identity enhances your credibility, instilling trust among customers, investors, and partners.

Access to Funding Opportunities

Many funding sources, including banks and investors, require businesses to be registered before providing financial assistance. Registration opens doors to a plethora of funding opportunities crucial for growth and sustainability.

Obtain an Employer Identification Number (EIN)

An EIN is essential for tax purposes and is required if your business has employees or operates as a corporation or partnership. Apply for an EIN through the Internal Revenue Service (IRS).

Register with State Authorities

Depending on your location, register your business with the relevant state authorities. This may involve filing articles of incorporation, articles of organization, or similar documents.

Obtain Necessary Licenses and Permits

Research and acquire any licenses or permits required to operate legally in your industry and location. Failure to comply with regulatory requirements can lead to fines or closure.

Open a Business Bank Account

Separate your personal and business finances by opening a dedicated business bank account. This not only simplifies accounting but also reinforces the legal distinction between you and your business.

Set Up Record-Keeping Systems

Establish robust record-keeping systems to track financial transactions, contracts, and other important documents. This not only ensures compliance but also facilitates informed decision-making.

Comply with Employment Laws

If your business involves hiring employees, familiarize yourself with and adhere to employment laws. This includes proper documentation, payroll processing, and compliance with labor regulations.
Embarking on the entrepreneurial journey is exhilarating, but ensuring the longevity and success of your business requires careful consideration of legal formalities. Business registration is not just a bureaucratic requirement; it is the cornerstone of a solid foundation for your venture. By navigating the process diligently, you not only secure legal recognition but also position your business for growth, credibility, and long-term success. Remember, the investment of time and effort in proper registration pays dividends in the form of a stable and thriving enterprise. Happy business birthday!