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The challenges of becoming an entrepreneur business essay

Tweet Starting a small business is the best way to gain freedom. Although this statement is disputable, it has sense.

  1. Small business is very important for the economy of every state.
  2. You do not need to listen to the instructions and threats of your boss when you are late.
  3. You should remember that independence is also responsibility. Several training facilities and conferences are held to improve the success of entrepreneurs in South Africa.
  4. It is possible to say that the complex of small and middle firms provides the country with the same profit as big business does.
  5. These aspects are one of the key factors to actually becoming an entrepreneur. Then, you will meet with such issues as revenue and expense.

Why do people decide to become entrepreneurs? They are longing for independence. Small business helps one manage his time in the way he wants.

The Challenges which Entrepreneurs face in South Africa Essay

He can produce the goods and services he likes. Finally, he is able to try to be responsible and creative. Small business is very important for the economy of every state. Small entrepreneurs contribute into the state budget a lot. It is possible to say that the complex of small and middle firms provides the country with the same profit as big business does.

In simple words, a prosperous state cannot survive without small business.

  • The entrepreneur needs to keep in mind the demand and supply of products to keep the business flowing;
  • Finally, you will meet the problem of rent, taxation, etc;
  • In simple words, a prosperous state cannot survive without small business.

It is impossible to defeat poverty without small business. Thus, if you have any genuine and uncommon ideas concerning the production of useful goods and services, establish your own small firm. Starting up is not easy Starting a small business is not an easy thing. You should be psychologically and financially prepared to numerous challenges. Moreover, it is vital to know something about business, management and marketing. To begin with, you should study the market in order to learn about the goods and services that are required by consumers.

This factor is the crucial one. When you discover that people demand an item but no one has produced it yet, you have the best chances to conquer the chosen sector of the market.

Secondly, you ought to think about the price and quality of your product. There are two options. The foremost one is the production of high-quality and expensive goods that will serve long. The second option is related to consumerism.

Essay on Starting a Small Business

You produce poor-quality cheap goods and attract clients with the help of the lowest prices. Sad to say but it is difficult to choose the best option. Many people are ready to pay a lot to possess a quality item. Others avoid paying a lot and prefer cheap products. Create a business plan Then, you should create your own business plan that will contain the entire information about the functioning of your firm. Think about the target groups of customers, production, logistics, storage and retail.

Apparently, you should produce and store your goods somewhere. Then, you will meet with such issues as revenue and expense.

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You will need to hire a few employees to run your business rewardingly. Without doubt, you will have to be selective, demanding and attentive in order to recruit the right people into your firm. Finally, you will meet the problem of rent, taxation, etc. A firm resembles a household.

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  2. Secondly, you ought to think about the price and quality of your product. When you discover that people demand an item but no one has produced it yet, you have the best chances to conquer the chosen sector of the market.
  3. The regulatory environment empowers individuals to start their own businesses. Challenges which entrepreneurs also face in South Africa is the regulation and the regulatory environment.

You should pay attention to the slightest problem, question and misunderstanding if you want to increase your income and develop your small firm into something bigger. The ups and downs As might be expected, starting a small business has many advantages and disadvantages. The most solid strong side is independence. You do not have to work for someone else. You work for your own profit. You possess the freedom of choice and actions. If you are not respected and appreciated at work, you can embody your original and amusing ideas in your own business.

Ambitious people always try to start a small business if they receive such an opportunity. You do not need to listen to the instructions and threats of your boss when you are late. At long last, you will earn more money. You are the boss and the entire profit is yours.

Nevertheless, there are many factors that cause problems to a novice entrepreneur. You should remember that independence is also responsibility. You are responsible for your firm, its prosperity and the wellbeing of your employees. Furthermore, you are responsible for the health and life of your customers who consume your products. You are expected to know how to develop and improve your small company beneficially.

You should know how to behave in case of crisis and unpredictable situations. You should be ready to wake up at night and spend the whole day at your firm in order to settle down all urgent problems and conflicts between employees. You should be a teacher, psychologist and negotiator who is able to resolve conflicts and motivate his staff practically. Takeaway Starting a small business is a challenging but beneficial idea. On the other hand, you should be ready to resist numerous challenges and work hard for the protection and development of your business.

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