The benefits of setting up in business on your own

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The benefits of setting up in business on your own

There are many reasons and advantages that the people see that make them want to set a business of their own such as: -

        Them wanting to have their own independence

  Some hated their boss which made them want to leave their job and start up                             their own business

                The benefit of having to keep all the money made

     

The risks of setting up in business on your own

There are also some disadvantages that owners have to think about before setting up in business

  If illness does occur then the company might have to be closed form the time of absences.

 It would be very difficult to raise capital when needed when you are own your own.  

 Success of the business will depend on the skills of the owner.

 If the skills are poor then it’s likely the company will not be successful.

 Long working hours

 Difficult to expand the business  

Task 4

Around the whole world it’s obvious that there must be some sort of competition whether it’s big or small.

Obsession has been located in the centre of the city.

In this area there is a high demand for a huge variety of different products.

Which means that there must be a lot of companies set up to full fill the customers demand.

There are quite a few advantages for the location of my company, there are a lot of tourist people who can to visit the city.

So that means that there is a high attraction of customers.

Due to the fact that the products in the city are really expensive then the products sold in the outer city area.

I have decided that I will be selling my product and service at a low price.

This will be very good for business as people likely to turn to obsession if they are looking for products that are a bargain prices compared to my competitors.

Task 6

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