Procedure for Starting a Small Enterprise

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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