12. Zainab, Shelly &Ravina are friends. They have just completed a fashion designing course. They wish to
start a business together. They have Rs.10,00,000 savings put together and are planning to take a bank
loan of additional _ 10 lakhs. They have found a prime location in KarolBagh where they can set their
boutique. They decide that they will initially not take very big orders. Based on this information, quote
the lines associated with factorsaffecting the decision to start a business and classify them.
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Factors affecting the decision to start a business
Explanation:
1. Availability of resources:
Zainab, Shelly &Ravinan should have adequate skills and resources to start a business.
2.Risk factors
They should have the capability to handle the risk factors like financial risks.
3.Customer perspective
They should know the customer perspective so that the business will become profitable and sustainable over a period of time.
4.Financial needs
They have to manage the working capital while operating the business.
5.Market location
We have to study the market which has the strong regulatory framework to protect our new venture.
To know more:
factors affecting the decision to start a business and explain them.
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