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3 Cards in this Set

  • Front
  • Back
  • 3rd side (hint)
Reasons to Start a Business
Growth - capital growth (assets like land), appreciation in value
Earnings - returns > costs
Transfer - passing on assets
Challenge
Autonomy - own boss, independence
Security - no risk of dismissal, personal wealth, early retirement
Hobbies - passion
GETCASH
Problems with Starting a Business
Lack of Finance
Cash Flow Problems
Marketing Problems
No established Customer Base
Legalities
Production Problems
Production Cost
Poor Location
External Influences
Three Most Important for Business Success (Starting up)
Managing Incompetence
Lack of Cash
Poor Cost Control