CONSIDERATIONS BEFORE STARTING A NEW BUSINESS

To start a business means to engage oneself in business activity and work. Every work performed before starting a new business is a part of its promotional activities. Promotional work begins with the origin of an idea till the business begins to function as a going concern. The aim of every business is to earn profit through service. As scope of competition has become wider, risk in business has increased considerably. The complexities of business have increased manifold. Thus, before starting a new business promoters must consider the following factors in order to survive and earn profits.
(1) Selection of Business
(2) Detailed Investigation
(3) Form of Business Organization
(4) Provision of Capital
(5) Location of Business
(6) Selection of Staffs
(7) Office Equipment
(8) Government Policy