Ramesh wants to start a business. Explain any four factors which he could consider before starting the business
Answers
1. capital
He should consider the fact of whether he has enough of capital in terms of savings in order to start the business. He should decide whether his savings will be enough or he needs to borrow money from family and friends. he can also see if he could use others sources of finance which are at his disposal such as crowd funding and micro finance.
2.place
he should consider the place where he wish to start the business.
also, he should consider whether the business is situated closely to its sources of raw material and customers.
3.costs
he should see if he will be able to cater for the costs associated with it in terms of rent and others expenses.
4. government help
he should inquire if he can get help from the government in terms of subsidy which can facilitate the opening of his business. as such , he can open his business more easily