Entrepreneuship_and_small_business

Successful businessman does everything possible to minimize the real picks associated with starting a company by studying, planning and organizing the information people and materials they will need to succeed. He manages risk by setting reasonable and obtainable goals- then work to achieve them.

One definition of an entrepreneur is someone who organizes, manages and assumes the risks of a business or enterprise.Other experts say an entrepreneur is a person who can "create out of nothing" a viable business.There are also a number of common traits successful entrepreneurs share:

ü a great deal of energy;

ü ability to establish priorities and make decisions;

ü ability to work with numbers;

ü ability to balance conflicts between business and personal goals:

ü awareness of personal strengths and weaknesses.

Becoming an entrepreneur is a way of looking at the world, seeing opportunity where others see problems.

Over the past decade, the role of small businesses in the economy of the leading Western countries has changed significantly. The contribution of small businesses in the GDP of developed countries over the past 30 years, reaching almost 70%.

There has been a huge boost in the number of small businesses and entrepreneurs in Belarus in recent years. At the last measurement, more than 4.800companies have been started in Belarus with foreign backing, with investors from more than 77 countries, choosing Belarus.

The Government plans to develop regional areas by attracting small business. Belarus' Deputy Economy Minister believes that small businesses should account for 22 percent of GDP.

Here are a few steps to take, and things to consider, before opening a business.

The first phase: Making a Personal Commitment. Successful businesses almost always start with a comprehensive business plan with special attention to accounting and finance.

Phase Two: Choosing the Form of the Business Entity.) Once one has an unshakable decision to start a business, the next step is to decide what type of business the entrepreneur should form.

Phase Three: Deciding on an Accounting Procedural Policy. After the new entrepreneur decides what form of a business entity to establish, he must decide on accounting methods and financial recording methods the company will utilize.

Phase Four: Begin the Formulations of the Business. With all the above decisions made, a business plan spelling them out, with financial projections, initial investments and so on.

One way to avoid some of the management headaches associated with starting a business is to invest in a franchise, an approach that enables you to use a larger company's trade name and sell its products and services in a specific territory. There are three basic types of franchises.:

a product franchise; a manufacturing franchise; a business-format franchise.

Today, franchises range from day-care centres and health clubs to dental clinics and video-tape rental outlets. The biggest winners are generally the franchisers, who are able to expand their businesses through franchised outlets without depleting their own capital. Investing in a franchise can also be good for the franchisee, because the risk is reasonably low.

Дата добавления: 2015-10-30