answersLogoWhite

0

🏢

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

Where do entrepreneur work?

Entrepreneurs work in their office, whether it is located in a business district, inside their home, or even an office-on-the-go (mobile).

What are the five steps to start a business?

In opening up a business it is best to get an opinion from other business owners who have been operating for a long time. You will need to have capital or some type of funding source, asset or fair credit in order to for lenders to provide you the funds. Most lending institutions will conduct a credit report.

1. Open up a merchant or business account.
2. Apply for a business license and indicate what type of business you plan to offer.
3. Advertise your business and use a professional printing company.
4. Get the word out in your local community or place an ad in a local new paper.
5. Network or partner up with other companies or sign up in affiliate programs.

What is the meaning of order of importance?

It means you complete the most important or urgent task first for example you have to go to the bank, get a haircut, and pick someone up from the airport what order u would do these in depends on whats important to you.

Identify at least three reasons why exclusivity is valuable?

There is only one reason here. The other reasons will depend on the context. That one reason is that exclusivity guarantees a market.

How has primary sector changed over time?

the primary sector has changed over the past 30 years because there is much less people working for them and the average yearly income has increased. High degree of competition like most countries produce primary sector products and the market contains many businesses. It's very difficult for one single business to control the market and set a price. Many primary products are non-renewable: metals and minerals like copper and stone are limited in supply and will eventually be completely used up.

What is the difference between a social entrepreneur and a regular entrepreneur?

A regular entrepreneur is someone who is willing to take risks to make a new venture for profit.. while a social entrepreneur has that in mind, but what makes him or her different is that he/she has a vision to make this venture not only a profitable one, but a venture that can help society for the good.

Few examples of medium scale industry?

Examples of medium scale industry includes different factors. It is the number of employees and the amounts of revenues that the company has. Medium scale industry could be franchises or factories.

How do entrepreneurship improve your life?

magnakaw lang sa mga tindahan tapos sa mga supermarket dun sa mga cashier tapos dun yayaman ka na agad yan ang marangal na trabaho !

By: WaffuSai

What makes an entrepreneur?

Risk may play an important role, but it's not the only one. Some other characteristics of entrepreneurs include:

· Creative

· Need to achieve

· Take initiatives

· Independent minded

  • Self-confident and optimistic

· Flexible

· Able to get along well with others

· Knowledgeable of markets

· Resourceful and persevering

· Can take calculated risk

Is Philippines a good place for business why?

Philippines is a great place for business if your interested in tax incentives offered by the government. Many businesses can register with certain government agencies like BoI and PEZA for income tax holiday and other great incentives used to attract business.

How does a break even analysis of diamond cutting and polishing business or business plan looks like?

A break even analysis of any business would identify the market, identify the source of the raw materials, account for expenses and determine how much to buy and how much to sell in order to break even.

Difference between batch costing and job costing?

Job Costing

Process Costing

1. A Job is carried out or a product is

produced by specific orders.

2. Costs are determined for each job.

3. Each job is separate and independent of

other jobs.

4. Each job or order has a number and costs

are collected against the same job

number.

5. Costs are computed when a job is

completed. The cost of a job may be

determined by adding all costs against the job.

6. As production is not continuous and each

job may be different, so more managerial

attention is required for effective control.

1. The process of producing the product has a

continuous flow and the product produced is

homogeneous.

2. Costs are compiled on time basis i.e., for

production of a given accounting period for each process or department.

3. Products lose their individual identity as they

are manufactured in a continuous flow.

4. The unit cost of process is an average cost for

the period.

5. Costs are calculated at the end of the cost

period. The unit cost of a process may be

computed by dividing the total cost for the

period by the output of the process during that period.

6. Process of production is usually standardized

and is therefore, quite stable. Hence control

here is comparatively easier.

What do entrepreneurial culture mean?

one motivation cited by many small business owners is the opportunity to be one's own boss. But that doesn't mean you're free to forget what it is like to be an employee.

Effects on clothes retailing of an aging population?

An aging population often has a fixed or limited income. They are willing to spend less on clothing than younger generations. They are less fashion conscious than younger clients and are more likely to replace clothing less frequently than younger customers.

What is decentralised purchasing?

This is a purchasing system where a purchasing resources are dispersed into local business units where all units do their own purchasing