For a business to succeed the right approach must be followed. Below is a suggested approach that can be followed:
i) Idea generation.
ii) Market survey:
– Define problem, target population, select sample, define survey instruments, collect data, analyse data, report findings
1. Business plan
- Business description
- Marketing
- Operation/production
- Management
- Finance
- Risks and assumption
2. Selection of a suitable location.
- Mobilisation of finance
- Business registration.
- Licensing
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