Among the factors considered when you are starting a business is capital, the location (place of business), the type and size of business, competition, laws and regulations, sources of supply and so on.
Capital
Entrepreneurs must have sufficient capital to start and run a business.
Total capital required depends on the size and type of business, business location, and amount of credit to be given to the customer.
Capital can come from their own savings or loans from friends or relatives or from the bank. In order to obtain bank loans, the paper should be prepared to convince the bank's ability to repay the loan.
Location (Place of Business)
Entrepreneurs must wisely choose a strategic location or appropriate to ensure business success. Business must be placed at a higher power purchasing power and lack of competition.
The selection of locations can also be influenced by other factors such as capital, rental costs, competition, infrastructure, law and others.
Interest, knowledge and experience
Entrepreneurs must have business interests. Interest must be sustained and not just temporary. If not, the business difficult to run.
Entrepreneurs also need to have knowledge and experience in the business to be diceburinya. For example, if he wants to open a clothing store, he must know where to get the clothing catalog.
Entrepreneurs should acquire the knowledge and experience on the ins-outs of management, manage money, stocks, time, serve customers, keep records and accounts, and others.
Experience may be obtained by working as assistants in the areas of business.
Knowledge can be obtained by studying in school, college or university, read the books in question, according to the course of business, ask, talk and watch other traders conduct their business.
The type and size of business
Entrepreneurs must determine the type and size of business to be conducted. Type of business shall be in accordance with the abilities, knowledge and experience.
Size of business shall also be in line with available capital, ability, experience and knowledge to control and manage the business. Size small businesses started and managed easily. Business on a large scale requires substantial capital and not so easily handled.
Competition
Entrepreneurs also must think about the competition that will be exposed. Study should be made to identify the competitors, number, size of their business, their strengths and weaknesses of the response of customers to their business.
Opening a business in which many would not have the competition will attract many customers at first. But if the entrepreneur can provide better service, wide range of goods, reasonable price and satisfactory after sales service that many customers will be attracted to kekedainya.
However, entrepreneurs need to make plans and rigorous and thoughtful effort to rise above the competition.
Laws and regulations
Entrepreneurs must know the laws, regulations and acts governing the conduct of the business in a country that does not violate any law, regulation, or act that could hinder business.
Local authorities such as Local Council, Town Council or the City Council has determined the type of business can be conducted in certain areas as well as the type of license required. Entrepreneurs must follow rules set by local authorities.
In addition, all businesses must be registered with the relevant parties except the hawkers bergerai yanng hawk just need to get a license from local authorities.
Entrepreneurs also must comply with the sharing of different acts such as the Trade Descriptions Act, Price Control Act, the Control of Supply and others.
Supply
Entrepreneurs need to know the places where they get the supply of goods as cheap and easy.
Entrepreneurs need to know which providers can offer discounts and credit better.
Starting Own
A person can start their own businesses if they have the confidence and ability of course it will be successful. To start own business, it is necessary to ensure the existence of the following: -
Experience and knowledge
• Interest in continuing
• Adequate Capital
• source of supply
• Regulations and local laws
• Types of businesses that want to run
• Location of business
Many customers and a successful entrepreneur today has started his own business activities.
Take Move
Another way to start a business is acquired or merged. It means a business that is being developed to buy or merge with the other business and took over its management. Here, business development happen quickly.
When a dealer to take over or merge with a business, it should use the experience and knowledge to: -
* Negotiate the best price
* For the conditions of joining or taking over the good from the seller.
Factors to consider when taking over the business: -
Business Finance
In essence the process of taking over other businesses should take into account measures such as a preliminary study to assess the financial position and profitability as well as examine and inspect each of the financial details provided by the owner. It aims to ensure that its acquisition finance business is strong. The study also included reviewing existing business assets such as premises, equipment and furniture that are well worth the time. In addition, business liabilities such as loans and creditors also need to know in order not to incur high debt load.
Benefits enjoyed
The study of the benefits that can be obtained if the acquired business will also be considered, for example, can have the technology and expertise available. Similarly, assets such as land and buildings that could be developed for future expansion. Market share that has dominated business customers also can be enjoyed and controlled.
Problems faced
The problems faced by the business that caused the owner to sell should also be considered for review. The aim is that we can solve problems and make it a profitable business. For example, if the business is facing stiff competition, identify and study weaknesses of these competitors have to overcome competition.
Potential to grow
The future of the business should be reviewed whether it had the potential to grow further. Future studies can be done by looking at the statistics-statistics and current market conditions. For example, mini bus services in the Shah Alam held based on the number of residential and industrial areas that have been established in which there is much demand for these services. Several years ago it was not held due to the growth and development is still in the planning.
Will face competition
Competition to be faced are also considered. Do your homework and identify the existing competitors. Study the weaknesses and strengths of the competitors so that we can arrange plans or strategies to overcome them. For example, if a competitor has a particular expertise, trying to learn skills or get the expertise of others as a partner or be a partner or employed.
Interest and that there
Interest and should have a natural tendency to take over the business. Without this interest and, of course what will not to the extent required. Interest and is the basis for starting a business, so make sure it exists in our hearts.
Heritage
There is also a business that is inherited from parents, ancestors, or family heritage. Kind of business is usually strong and has long existed in the business.
Invited
Invited mean business and have remained there invite a @ a company to partner with @ merged with its parent company. Individual @ company invited him as the potential and individual performance is very good @ company.
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Thanks to : http://tec.uthm.edu.my/index.php/mengetahui-cara-memulakan-perniagaan
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