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The steps involving in setting up a new business are:

1. Seek the opportunities and for this, must have some personal observation, contacts, surveys etc.
2. Have some idea and choose the product you want to manufacture.
3. Feasibility is important to check whether an idea is good or not.
4. Identify and collect resources.
5. Launch your project by purchasing equipment's.
6. Must keep your eye on the competition and try to manage the business for development.