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Factors that one need to consider before setting up a business
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[QUOTE="Jasz, post: 287024, member: 61772"] There are many factors that one needs to consider before setting up a business. One of the most important factor is to know what type of business you want to start. You can either start a regular business or an online business. The type of business you want to start will depend upon your skills and experience. You have to have sufficient capital for starting up your own business. This capital can be obtained from family members, friends, banks etc. You should also consider obtaining loans from banks and other sources if required. Another factor that you need to consider is whether or not there is any competition in the market for your products or services that you intend to offer. If there is no competition then it will be easy for you to get customers as well as make profits from them. However, if there are several competitors in the market then it would be very difficult for you to do so without making any profit out of such activities. The third factor that one needs to consider before setting up a business is whether or not there is enough demand for products or services which you intend selling in the market place at present time? One should always check out this aspect before starting up a new venture because if there are no customers who need such goods, you might make little or no sale which is bad for a business. [/QUOTE]
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