Factors to consider going into business

[nimzy]

The factors to consider before going into any form of business is to first of all consider your financial strength your ability to fund the business yourself without the act of borrowing and also your readiness to stand for the business in all challenges.

 

[Mentor]

Some factor to put into consideration when going into business

• A Business Idea.
• Knowledge or Expertise.
• Market or Demand.
• Start-up Costs.
• Capital and Finance.
• Competition.
• Location
• Staff.

 

[nimzy]

There are alot of factors which are needed to be considered at all time most especially the knowledge the availability of yiu knowledge and skills on a particular business determine the level of success of which an individual will experience while carrying out the operation of the business.

 

[07Trinity]

The following factors should be consider before venture into any business,basic infrastructural development needed for the day to day running of the business ,such as electricity, good road network,.
.Nearness to raw material needed for the business.
.Nearness to market.
.customers needs.
.strength of the business.
.threat to the business.
.opportunities for the business to excel.
.weakness of the business.
.competition.and
Financial strength

Nearness to market, opportunities for business excellence and customer needs are the prevailing importance for every consistent business that want to spark into the lime light.

 

[Tislad]

I believe the first factor to consider owing to a business is who are you client or who your client are or would be, then the second thing is your transportation, how to move your goods, those are yhe two major i feel.

 

[Ezekiel]

There is nothing as important as industrialization in business,the purpose of business is very important,what problem is the business going to solve

 

[skyliequiz]

There is no business in the world that can function without money. You'll know how much cash you'll need to start your business based on the sort of business you're establishing and the first expenditures you'll have to pay. Whatever means you use to finance your firm, you must ensure that you have enough cash to go through the beginning period.

 

[Senator]

You can actually try and predict what weaknesses and strengths you think you can perceive in such business if you venture into it. What are the extent one need to go to get the required funds needed to commence activities for the business?

 

[Elfinito]

For me I would say the first step into starting a business is acquiring a good knowledge of the business you wish to start, learn from other business individuals and you can also ask questions about the business before you get started

 

[Lucy ID]

Starting a business requires a whole lot of proper research, many fail at the early start of their business of proper research. Before starting a business you have to consider the environment, the power supply in the environment, if the services or goods you want to render are urgently needs, the transportation system and many others

 

[Heatman]

The business customers that you're having the business set up are the most important variety needed for your business survival because without them, your business is dead even before it started.

 

[Kaffyfolla]

To my own perspectives, capital need to be considered first, then the location that welcome the nature of the business where you could easily get raw material and nearest to the where the product to be sold

 

[Blessingedidiong]

Factors to be considered when going into business are much. Some of them include targeted customer, location, availability of raw materials, transportation,nearness to market,required labour and available capital.

 

[Suzzy001]

financial strength of your business is highly important, if you are financially strong, it will help you overcome all possible competitors and also boost your business productivity. So financial strength of your business should never be underestimated

 

[YERUS]

The following factors should be consider before venture into any business,basic infrastructural development needed for the day to day running of the business ,such as electricity, good road network,.
.Nearness to raw material needed for the business.
.Nearness to market.
.customers needs.
.strength of the business.
.threat to the business.
.opportunities for the business to excel.
.weakness of the business.
.competition.and
Financial strength

You intend starting up a business, you have to understand all that the business entails.
You have to be sure that it is located in a thriving environment, a location where you have a huge number of target clients.
You have to be aware of the funds required for the business on a long term.

 

[Seno inyang]

A business idea is very necessary.
Location.
Market or demand.
Start-up costs.
Capital and finance.
Staff.
Competition.
Knowledge or expertise.

 

[Abigael]

Some factor to put into consideration when going into business

• A Business Idea.
• Knowledge or Expertise.
• Market or Demand.
• Start-up Costs.
• Capital and Finance.
• Competition.
• Location
• Staff.

You have mentioned all the requirements needed when starting a business. Indeed all of them have very good importance. When starting a business, it is best to consider all of them.

 

[eLdavis]

A business idea is very necessary.
Location.
Market or demand.
Start-up costs.
Capital and finance.
Staff.
Competition.
Knowledge or expertise.

Am glad you placed location as number one. Location is a very important factor when creating or starting up a business. The location determines the success or failure of the business, it can make and destroy the business if not at the right location.

 

[Skysaint]

First you need to be financially buoyant atleast to an extent of providing the required startup capital for the business and also having a reserve for the business maintenance. Secondly, you need to examine oneself to know the kind of business you can handle
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We need to know that business isn't really for everyone, there are qualities you need to posses and develop on before venturing into a business. Anyway we need to check if the business we are planning to go into is really lucrative and find out ways to fight off competitors

 

[Adebayonle7]

You have said it all. One has to prepare an effective business plan to guide the business. A strategic location is necessary, a populated area with less competitors, deal in quality products and services, make sure to have an online platform for the business, keep very good inventory, keep effective financial records as well. Make sure to plan for effective customer services and have strategic sales and marketing techniques.