Factors to consider before choosing a business

[Augusta]

You shouldn’t go into a business because your neighbor is doing same. You need to take into consideration some factors before choosing a business to start. You need to consider these important, they are outlined below:

• You need to consider the risk involved in the business
• Check to know the cost of start-up, you need to be sure you have the needed capital
• Consider all the taxations involved, would be up to the high taxation if it is needed
• How would be able to periodically finance the business, remember cost can increase as the day passes by
• Consider your entrepreneurship skills, would it be up to managing and controlling your chosen business

What other factors need to be considered here?

 

[btaliat]

You have highlighted some if not all the factors needed to be considered before a business is set up. I only need to add some tips. We need to make sure we study the market and our area first. This will give us ample opportunity to know the kind of things that will be salable in our areas easily. Also, there is need to consider the future of the business before embarking on it.

 

[Mataracy]

You shouldn’t go into a business because your neighbor is doing same. You need to take into consideration some factors before choosing a business to start. You need to consider these important, they are outlined below:

• You need to consider the risk involved in the business
• Check to know the cost of start-up, you need to be sure you have the needed capital
• Consider all the taxations involved, would be up to the high taxation if it is needed
• How would be able to periodically finance the business, remember cost can increase as the day passes by
• Consider your entrepreneurship skills, would it be up to managing and controlling your chosen business

What other factors need to be considered here?

One should also consider environmental factor. This is very necessary and important to because business can not atandvon it own alone without the influence or interact with its environ. One needed to check may be there is competitors around which can hinder or affct the growth of the business. Most people don't used to do that and latter fail in the business because thos customers might not patronized its business since its new to the environment.

 

[Segat]

There are a lot of factors to be considered before choosing a business to do. One of them is the factor of who are the targeted or potential customers; where can they be found and what's their taste, this will really help in the choice of business. In addition you really also need to consider the knowledge you have about that particular business or how accessible is the enough knowledge to start and succeed in it. It is also important to give consideration to the available finance,this will give one an idea what business and how big one will start.

 

[Wisdom01]

Before investing in any business I think one factor you should consider and check mate is the government policy regarding the business , because there are some policies that the government may make and the policy would suit the business and help develop the business more ,while some policy may be too strict for the business to grow

 

[Chibson]

These you highlighted is very important for anyone who wants to venture into any business because if they are not put into consideration you may definitely make a mistake in your business sojourn. People need to consider the cost of startup and also evaluate their idea house on how to get the business running.

 

[Augusta]

You have highlighted some if not all the factors needed to be considered before a business is set up. I only need to add some tips. We need to make sure we study the market and our area first. This will give us ample opportunity to know the kind of things that will be salable in our areas easily. Also, there is need to consider the future of the business before embarking on it.

Definitely your.points are valid. If we need to choose a business wisely then knowing about the future prospect of the business is very important. You need to consider that you can actually hold the business up even in the future to avoid failure. Everything that is done now should be towards good success of the business

 

[Augusta]

These you highlighted is very important for anyone who wants to venture into any business because if they are not put into consideration you may definitely make a mistake in your business sojourn. People need to consider the cost of startup and also evaluate their idea house on how to get the business running.

Exactly it is pertinent to evaluate the business idea you have in your head already and be sure that other factors that will be put in place will really help make the business be as viable as we have thought.iy it is all encompassing so we need to bring in all it takes

 

[Augusta]

One should also consider environmental factor. This is very necessary and important to because business can not atandvon it own alone without the influence or interact with its environ. One needed to check may be there is competitors around which can hinder or affct the growth of the business. Most people don't used to do that and latter fail in the business because thos customers might not patronized its business since its new to the environment.

Sure the environment plays a vital role when it comes to choosing a business to start of course the business wouldn't exist in a vacuum it is in an environment as such such environment must be taken in to consideration and looked at properly to be sure it will help make a success of the business

 

[Augusta]

There are a lot of factors to be considered before choosing a business to do. One of them is the factor of who are the targeted or potential customers; where can they be found and what's their taste, this will really help in the choice of business. In addition you really also need to consider the knowledge you have about that particular business or how accessible is the enough knowledge to start and succeed in it. It is also important to give consideration to the available finance,this will give one an idea what business and how big one will start.

I totally agree with you a business above every other thing first is a profit making venture and the number one thing to consider is if the business will bring the needed profit. How will one get the targeted audience to make the profit all of these need to be considered before choosing a business

 

[Mika]

I have been saying this on a lot of forums and sometimes I feel that I am too much repeating but I m saying this again. The only thing you need to consider before you choose a business is to see if the market is saturated or not. If you want to sell the same product that a lot of businesses are selling, you do not have any chance.

 

[Augusta]

I have been saying this on a lot of forums and sometimes I feel that I am too much repeating but I m saying this again. The only thing you need to consider before you choose a business is to see if the market is saturated or not. If you want to sell the same product that a lot of businesses are selling, you do not have any chance.

Yeah this is one very important factor to consider to avoid being redundant in the market. A market that is already saturated is always difficult to penetrate unless is coming with a never seen style and format. So it is a factor if not checked properly can ruin a business

 

[Alexandoy]

In any business that you plan to make a start up the financial details would be very important. Sometimes the computation of the capital is not accurate particularly with the incidental expenses like the ordered product is not delivered on time so you have to hire a transport vehicle because the business cannot wait for the delivery.

 

[Augusta]

In any business that you plan to make a start up the financial details would be very important. Sometimes the computation of the capital is not accurate particularly with the incidental expenses like the ordered product is not delivered on time so you have to hire a transport vehicle because the business cannot wait for the delivery.

Sure the finance which is like the capital of the business must be taken into consideration when starting a business. One thing business starters fail to understand is that one shouldn't think about profit at least for the first three months. Channel the energy first in.generating more profit to run the business adequately

 

[kayode10]

It is very important to do market research before you can said you want to start building a business. Market research will give you the opportunity to discover some of the weaknesses of your competitors and how to exploit them. A well written and detailed business plan is also needed for you to succeed in building business.

 

[Skysaint]

One of the many things I do think that needs to be considered before going into a business is for one to take a research to ascertain the number of people who already in the business and how competitive they are because they will eventually turn up to be our competitors in future, if they are just too many then I wouldn't recommend it. You should sort for lucrative businesses with lesser rivals.