How to start a Business



Abstract

Starting a business requires a great deal of study before actually getting in to the deal. What and how the basic questions are need to be answered before hand. The real concern is what is required before the business is started, the prerequisites! What will be required once the business is started! Designing a business plan and getting to know the legalities is imperative for starting a business.

How to start a Business

Introduction

By the term business, we mean a group that is engaged in the deal of products or services or both to clients. In capitalist economies business is the leading factor, mostly owned and run by the private sector for the purpose of generating profits. Other than private sector business may also be in the form of Non-governmental organizations (not-for-profit) or owned by the Public Sector (Government owned). /www.tpegypt.gov.

The term "business" is usually taken as the condition of being busy / occupied, it can referred to an individual or a group of individuals (society), working to generate money as well as being commercialized. Business can be described in 3 ways: a respective organization, a market segment and multifaceted industry like manufacturing and finally all the activities done by the society of product and services providers. Nevertheless, the precise definition of the term business is subject to debate and degree of significance.

According to Stephenson, "The regular production or purchase and sale of goods undertaken with an objective of earning profit and acquiring wealth through the satisfaction of human wants." http://kalyan-city.blogspot.com/2011/03

Dicksee defines business as “A form of activity conducted with an aim of earning profits for the benefit of those on whose behalf the activity is conducted.” (http://kalyan-city.blogspot.com/2011/03)

Lewis Henry defines business as, "Human activity directed towards producing or acquiring wealth through buying and selling of goods." http://kalyan-city.blogspot.com/2011/03

In short, business refers to constant creation and supply of goods and services with the aim of earning profits under uncertain market conditions.

Discussion

The real question is how to start a business, the steps involve in initiating and starting the business. These steps comprise of planning, financial decisions and a list of legal actions. The first step in starting any business is preparing a business plan that explains the entire process of starting and running the business successfully.

Not one business plan can work in every sector but, certain points will be constant in every business plan. Common elements of a business plan must ...