Chapter 8, Problem 12AA

To determine

To ascertain the things that requires starting a small business.

Explanation of Solution

Enterprises are founded by entrepreneurs are cable of maintaining risks. An entrepreneur is the one those starting his or her own company. People typically decide to start a company to make money by doing it alone or by becoming their own boss. Upon making the decision to start a company, entrepreneurs need to gather relevant development factors to manufacture their goods and services and decide on the kinds of business structure that best fits their purpose, which is also required to learn about the rules, legislation, tax codes that will apply to the business. Businessmen will consider future competition, too.

Economics Concept Introduction

Introduction: Person that want to start a small business, there are many sources of information available and some may provide funding as well. Investigating to all these sources will help in the beginning stages of planning .