You have been employed at Small Enterprise Finance Agency (Sefa) as a mentor for up-and-coming entrepreneurs. The client comes to you requiring to be mentored in starting his business. However, he has no idea where to start. As a mentor of prospective entrepreneur provide and advice about all the aspects the client has to take into consideration when starting a business venture

You have been employed at Small Enterprise Finance Agency (Sefa) as a mentor for up-and-coming entrepreneurs. The client comes to you requiring to be mentored in starting his business. However, he has no idea where to start. As a mentor of prospective entrepreneur provide and advice about all the aspects the client has to take into consideration when starting a business venture

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Think of a feasible business that you plan to startup in your area. Commence in formulating the name of your projected business down to its target market, explain why you plan to venture such trade. (You can draw your ideal business venture
Cathy wants to open her own accounting firm. She requires your help with the business plan. Advise Cathy on reasons for an entrepreneur to write a business plan.
The process of starting a new business can be difficult, especially when you are trying to break through the fear and confusion. We live in a world where we have an endless amount of opportunities, and it can be quite overwhelming to start looking at all the different options that are available to you. You may also feel like all business ideas have been done before and that you’ll never be able to come up with something that is unique and that would be successful. From the above scenario, we realized the challenge and opportunity in creating a new business venture in UNITEN. Using your own words, justify the following QUESTIONS: 1. Justify TWO (2) challenges to be considered when coming up with a new business idea in UNITEN. 2. Provide your own VISION and MISSION to start a new venture. 3. Describe ONE (1) passion in starting the new entrepreneurship
Explain the different stages of your business development funding. How much money would you fund, and from where would you source it for each stage? What would be your area of expenditure for each stage?
Starting up and managing a business requires one to act responsibly and ethically at all times. It is also imperative that one carefully considers the management team and the opportunities that franchising presents to a business to create a bigger brand name and increased market share You may consider franchising your business at some point. Discuss with justification, the type and model of franchise that your business will enter into.
You are considering buying an operating business. What are the most important issues you will look at before deciding on the purchase? Why?
Assuming you are a young man who want to be sponsored, identify any viable and feasible business idea of your choice and draft a comprehensive business plan for your potential business highlighting on the key features.
If you will be starting a business based on your own idea, answer this question: In selecting your business idea, were you able to find something you love to do and are good at doing? How did you determine that your idea would fill a need in the marketplace?
Being a franchisee is an opportunity for those who lack business experience, the chance to own and operate a profitable business. What is your understanding of this statement?
your group are into the shoe business, last january you started manufacturing 100,000 pieces of school shoes in preparation for the incoming school year, but due to covid-19 the orders and distribution were being canceled. as a business owner what will you do? what strategies will you be able to come up so that your company will not get affected that much?
I have to write a grant for the Lasting Legacy Wildlife Museum (link to website below) for a family member. They have not been able to work since his heart problems. I need help writing a grant to keep their business alive. I have no idea where to start or how grants work. If you could help me I would really appreciate it. This business means a lot to my family members. https://thelastinglegacywildlifemuseum.centurylinksite.net
Imagine a small business that has long bought its office supplies fromStaples. It reads about Lendio and considers whether to solicit a loan.What kind of buying situation has this small business entered?