Home Business & FinanceBusinessStarting A Business Subscribe to RSS

What Are The Pre-requisites Of Starting A Business?

Answer Question

3 Answers - Sort by: Date | Rating

    Business may be of small or large size. Following factors must be kept in mind whenever we want to start a business.

    The most important factor to consider that what type of business will be carried on. Business maybe classified as trading, manufacturing and service oriented. Selection of business line requires full consideration, detailed investigation and proper care.

    A business man must know liking and disliking of customers. Hence before starting business it should be taken into account that which goods are in demand because business of such goods is profitable. Arrangement of capital is the back bone of any business. One the nature of business has been decided; know capital is required for the implementation of ideas. How much capital is required depends upon the following factors.

    Size of the business and the demand of the product in the market, various legal expenditures, and other fixed payments. Capital is required for the purchase of machinery, equipments, basic raw material, land and building etc. Size of the business means scale of the business it should be clear in the mind of business man that the business would start either on small, medium or large scale. Scale of the business depends upon the following factors:

    • The volume of capital and resources.
    • Demand of the product in the market.
    • Business ability of business man etc.
    1 0

    Ranajee82 

    answered 3 years ago

    Sometimes you will need business licenses, depending on your business activity as well as your location. These requirements vary from state to state, county to county, and city to city. For all your licensing questions you can call 1-800-679-3611 ext 113.
    Report
    Driven27

    Driven27

    commented 2 years ago

      The Biggest thing you must look at is location. Its no use opening a business where the demand for you product is nothing. also no use opening it where there are other business offering the same.
      After you got locations then the right time to advertise when there is a big demand then you advertise your business.
      But it also depends what type of business your going to open.
      0 0

      Sapaz85 

      answered 3 years ago

        You may want to try some of the online resources I found that will help you with all the answers to your questions. Starting a small business isn't tricky, but there are a lot of things you need to consider--particularly the legalities. Filing business licenses, DBA's, Tax-ID, State Seller's permit and that sort of thing. There are places you can visit on the web  that will help you get started.

        Business Licensing

        That's a good place to start.
        0 0

        Bizlic 

        answered 2 years ago

        More

         
         

        Ask a Question via Twitter

        Send a question to @askblurtit and we will publish it online and send you a reply everytime you receive an answer.

        Blurtit Store

        Get T-shirts, hoodies, caps and more at the Blurtit store

        Blurtit International