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 factors affecting the
decision to start a business and explain 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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