what are the basic goods necessities for setting up factories
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There are three basic resources or factors of production: land, labour and capital. The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods".
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Important factors to consider before starting a manufacturing business.
Demand for your product. ...
Setup costs. ...
Competition from other manufacturers. ...
Previous experience, knowledge and qualifications. ...
Finance available and finance options. ...
Business location. ...
Rules and regulations.
Demand for your product. ...
Setup costs. ...
Competition from other manufacturers. ...
Previous experience, knowledge and qualifications. ...
Finance available and finance options. ...
Business location. ...
Rules and regulations.
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