Why start a business?
- Challenge: Some people will become restless working for someone else, want more of a challenge
- Profit: Setting up the business offers the chance of earning profits
- New Ideas/Inventions:
- Circumstances: People can be forced to set up their business due to unforeseeable circumstances e.g A redundant worker with a sum of money
Problems in setting up a business:
- Right Product: getting the right product that will satisfy the needs for the customer fully e.g. Value for money
- Cash Flow: new starts ups often fail because cash flow issues i.e. run out of cash
- Premises: finding the... (More)