Introduction:
A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not for profit or owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning.
Business is already part of our life. I small capital you can establish small business in different ways and kinds. As a single or sole proprietorship it is easy to establish a business by him/herself. Many business can individual established like loading or extreme loading business, small grocery business, computer shop and etc. thus, the owner receives all profit, absorbs all losses and is solely responsible for all debts of the business.
Business is already part of our life. I small capital you can establish small business in different ways and kinds. As a single or sole proprietorship it is easy to establish a business by him/herself. Many business can individual established like loading or extreme loading business, small grocery business, computer shop and etc. thus, the owner receives all profit, absorbs all losses and is solely responsible for all debts of the business.
Me, as an example of single ownership of a business it is easy for me to earned profit because of in demand wants of the people. Texting is want of the hobbies and interest of the people and considered that this is part of our life. That’s why I preferred to choose “negosyo and loading station or extreme loading” to be my business. In Php 300 capital I earned Php50-60 and that capital is good only for two days. In continuously doing this business I earned more profit and I can buy now all things that I want. Business is for all people, no age limit but you must have a good plan and choose the best business.
Tips for the future single proprietorship or businessman
1. Have enough capital.
2. Choose he best business and services that is fit and in demand and affordable.
3. Make an inventory for the issued stocks especially of your products.
4. Make a personal financial records.
5. Have a good communication to your customers.
This tips can help a person who will be plan to have a business. With having a capital and choose the best business or services. It is important to check the stocks so that he or she knows what are the problems or possible problems about their business especially if they continuously earned profit o they are not in bankruptcy. Having a good relationship or good attitude between the sellers and customers is the important to know. You can get many customers if you are good approacher.
Problems encountered in establishing business
Continue or discontinue? Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios. Every decision making process produces a final choice. The output can be an action or an opinion of choice.This type of business decision problem is sometimes encountered by some businesses engaged in producing and/ or selling products. One or more products or profit centers may show losses or unsatisfactory result of operation in which case the businessman would have to decide whether to continue or discontinue producing or selling the products.
The business is very successful when many customers avail o buy this or it is I demand for them. Increasing profit without any increasing of capital is also good on this way, it will be established more business that can also help to increase their income.
If the business got into bankruptcy the business decide to discontinue his/ her business. Another one if he or she increasing her or his capital without knowing that he or she already earned profit. Other businessman depend on borrowing their capital like in lending company that instead of having a good profit, it is goes for the paying of debts. Lastly, the business is discontinue if no customers avail and buy the products
Importance of business Business is considered as a source of income. It is very useful especially to the people who want to be rich and sustain their basic needs.The importance of business is that it provides products or services to customers. These products or services in the present day world are provided by entrepreneurs who organize, manage and assume the risk of starting businesses mainly for earning profit. Business makes the best possible use of scarce resources such as men, machines and materials for the production of goods. The importance of business can be judged from the following activities undertaken by the business. Services occupy an important place is in business life. Though the service organizations do not contribute directly in the production of goods but they facilitate in the production and distribution of goods to the customer. But what is the important of business in our society? The exchange of goods and services can benefit all. Consumers can obtain goods and services that can't grow, raise, manufacture themselves or do for themselves. Providers can make reasonable return and thing can be mutually good for all till these events happen: consumer becomes too dependent or non self-sufficient, advertising becomes as bad as Marx predicted, Government takes more than services provided or pass laws to aid few..
