Starting a Business Essays

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Introduction

More and more people are beginning to open their minds to new business ventures. It seems like it is becoming the popular move. By opening a business there could be huge profit to be made, depending on the market. On the other hand, there are risks and losses that may occur as well. It is said that there are two reasons why people start a business. The first reason is because they have inspiration for what they believe would be a great idea and the second is from desperation. People have a need to make money and there are no jobs out there, which they found, that suites them or their needs. There are various different ways to start a business. Not all entrepreneurs begin their business by the thought of an idea.
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The most important step in starting a business is the business plan. If the business plan is not completed then the business is more likely to fail, lenders are less likely to lend money to the business, there could be a loss of investment or other bad things could happen. Most of all the preparation for the business is not there and the owner(s) may not be prepared for most of the situations they will face.

In order to find out a way in which to figure out the needs and the wants of potential clients, a good idea would be to do a survey. This will allow the business owner(s) a chance to get a reflection or thought of the people that will be using the services of the company. This may increase the sales or services of the business as well. Another survey that could be completed is to find out with other companies in the same market are heading toward. Also by doing this it can enable the business to redesign the business before it is too late, to adapt to the needs of the consumers. Keeping in touch with the public needs will help the business in the short and long term periods. This step should be done before the business plan to capitalize on the survey done. To be able to get this done correctly, there are people who work for the Governments that are trained for this kind of thing. The places known off hand is the Business Service Center, and ACOA (Atlantic Canada Opportunities Agencies). These are Federal

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