Sometimes the hardest part of starting a business is coming up with a business idea, whether a small business is a part-time one person operation run out of someone’s home or a muilti-million dollar company with dozens of employees. This unit gives learners the opportunity to consider their business idea within structured business parameters, such as the type of business, the attractiveness of the business idea, the target market and the need to balance personal and business needs.
My personal weakness is I do not have much experience in running a business organization and because it’s my first business organization I will have to take risks which might make my business to lose profit or even worse make my business organization bankrupt.
This lax enforcement has led to cases where the small business in question is actually a subsidiary of a much larger company, where businesses have outgrown their small business status, where big business misrepresents itself as a small business and where government procurement offices, such as with the military, simply disregard the rules and do business with who they like.
The business organization need to make sure that they got a potential demand for their business, if the business does not have a demand they will not make a good profit because customers will get services from competitors, as a business I have to remember when I’m completely new in the market I have to do primary research and secondary research in order to make the chances of getting more successful higher.
Social also got a big impact on how well my business is doing, my business depends on the way people live their lifestyle in today’s society if the peoples lifestyle is bad and they got addiction and the percentage of does people live near my business premises it’s the right place for them to get rehabilitated.