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Small Business and Entrepreneurship
Small businesses are usually family- and privately-owned establishments with a limited number of employees. Starting a small business is a form of entrepreneurship. It is like turning a ‘problem’ into a ‘profit’ or a ‘need’ into a ‘demand’.
6,973 Questions
What are the challenges to entrepreneurs in the light of the socalled borderless world?
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Which part of a business is the owner responsible for?
Everything, which is why owners need help, and leadership, management, delegation, and inspiration are good qualities for an entrepreneur to have.
Why does a small scale arable farmer in sindh want to have fields that are close to home?
A small-scale arable farmer in Sindh prefers fields close to home for several practical reasons. Proximity reduces the time and labor required for daily tasks such as planting, watering, and harvesting, allowing for more efficient management of resources. It also enhances accessibility during emergencies, such as extreme weather or pest infestations, enabling quicker response times. Additionally, being near home fosters a stronger connection to the land and simplifies the logistics of transporting produce to local markets.
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What is an advantage of partnerships over sole proprietorships?
partnerships generally have more money to invest in starting or expanding a business
Why is it important for an economy to encourage more people to start their own business?
A business venture means manufacturing, marketing, sale and profit. As the venture grows in size do does it needs manpower to move to higher notches of success. Employment and paying capacity helps other sectors also to grow, which in turn give the economy a boost. I think that's the primary reason why it is important for people to start up their own business venture.
How can small business owners find ways to raise investment capital they need to start a business?
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How does an entrepreneur earn a profit?
The entrepreneur purchase materials at one price and sells them at a higher price, he may also process the materials purchased, adding value to them before selling them.
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Khalifa AlJaziri is an Emirati entrepreneur, co-founder of e-Home AUTOMATION and a notable UAE young business leader.
What are 3 conditions to a franchise agreement?
The franchise agreement is the primary legal document that governs the franchisee and franchisor relationship. This report can vary from industry to industry, and because it is not regulated or there is no standard format for it, each franchise can have their unique franchise agreement.
Some of the things to look for in the franchise agreement include:
- Duration of the contract - this often last for about 10 years.
- Trademarks, patent, and signage use - this allows the franchisee to use all brand-related materials
- Renewal rights and termination policies - this states that a franchisee can, in fact, be terminated, as well as outlines all the information relating renewal policies
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