Why people decide to setup in Business?

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Marian Roberts

HSA

Unit 11- Task 1

Intro:

In this unit I will be looking at setting up my own business. In this task I will be looking at reasons why people want to have their own business, the problems they may face and how they can solve theses problems.

Reasons why people decide to set up in Business

  • To have more control of their working life.
  • Don’t like their job
  • Think they might earn more working for themselves
  • They think they have a great idea
  • See a gap in the market
  • Need to work
  • Government incentives
  • Following family and friends
  • To be successful

 

The reason why I personally would like to set up in business is to be successful. I want to know that if one day in life I decide I want my own business that I want that company to be very successful. It doesn’t have to be as big as Tesco but as long as it’s successful. Plus I want to be successful. I want to be able to say I have accomplished something worthwhile in my life. I think this is a very good reason why someone should decide to set up in business.

Another reason which may cause me to set up in business that I want to be my owe boss. I want to be my own boss because I have my way of doing certain things and I don’t really like people telling me differently. The thought of me doing something and someone is looking over my shoulder doesn’t go down well in my books. I will not be able to work like that anywhere.

Problems you may come encounter and how you may over come these problems

Poor choice of location

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You could locate your business in an area where there are poor transport links. If there are poor transport links customers wouldn’t be able to come to your business. You also will have to provide parking spaces for customers and be near buses stops for customers coming by public transport.

You can solve this problem by locating to an area where there are buses stops near you, parking for customers with cars and near a motorway for suppliers who are bringing deliveries to your business.

May not be able to fine right staff, cannot afford training

You may ...

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