Something About Sole Proprietorship Business You Need To Know

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Here I must first recognize that business is very important to that extent , in which it happens to be the main stream to every nation economies.

Obvious is that business has lot of area of specialization and categories. Basically I want to focus within my country state of economies, in which the whole world might likely know that we are in the middle of developing economics. In which people are exposing to serious economy hardship due to , scarcity of national currency , fuel subsidy removal and the high price on petroleum products mainly fuel . Also with serious high prices on most of the consumer goods in fact high prices on everything.

In essence , due to the base knowledge touching the nature of national economies and kind of economy hardship that citizens and everyone around is being facing on daily basis. Even the government themselves after like getting recognized and acknowledged within themselves , that they can't provide job opportunities for like millions of youths and an unemployed middle age.

So , the government themselves are given business grant beyond level in which they gave last year

The loan grant are actually meant for the beneficiaries to use them to start small businesses.

Then , my personal concerns basically on such fact that not even close to half of those beneficiaries. Are like being into business before , touching having needed skills and experience on small business outlet running.

Thing is most of them were like good employees , in which most of them might likely already have wealth of experienced on other fields which they did work . Due to the terrible economics so many things is happening here.

For me starting small scale business isn't a problems at all , but knowing that . Small scale business isn't like working in the bank or being an employee in the company or factory of any kind or nature.

That , because most of the film out there do very much observe every single public holidays. And also do allow their staff to get on sick vocation once they are sick , so as to get themselves treated and fits before resumes and get back to work.

To be very much honest , I case that is not how the small scale business actually works. Because once you get set up and running or managing your small business. There once you get unfortunately sick and get yourself sick vocation and fold up , seriously there would be no profits nor pay for such a one. So goes to joining up with others to get observe public holidays.

So due to all of those stuff I want to bring on board the following five (05) factors in which those set of people need know before , getting on to start and run their own small scale businesses .

Festive Projection

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Business can be very interesting and while making lot of profits that , can get to be more like fun associated to active business running. So , while managing your set up business and perhaps . Time for festive get knocking , or at times other nature of celebration which might get last more than 24hrs to a week. Seen once you locked up your business and get on to festive celebration or other kind of celebration, it then entails that your business would remain there waiting for you. And unfortunate is that most of your customer might find others and patronize them.

Underhealth Challenge

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Here is being widely talking about long enough before I was born , that prevention is better than core. So as sole proprietor who is into small scale business, it's best to also get pay close attention onto your own health. You do need to understand that , you don't have to wait and get kind of health drained and also unfortunately get knocked down. Before you get yourself drag down to the hospital for treatment.

So as an entrepreneur who is into small scale business, you do have to take your health very serious. Once you sense any unlikely symptoms , you do need to tackle it before it get your health drained up and knock you down. With such base knowledge that health is wealth , so you just ought to give your health a priority.

Capital Initiative

Another important thing is the capital, since here like seriously everyone knows how bad the nation economies happen to be. So , those who access the fund would try out their very best to keep themselves busy and mainly focus on their business. Truth also is such that most of them won't actually care about the worth of the grant , as their business start up. Since the 💰 money get from the government. And few of them might so think this their turn to eat from the national 🍰🍩 🍮 cake . So those category might get start the business and also get fold up at any time possible , because they likely think is their own cut from the national cake . And the state of the nation economies never meant hurt or hard on them , after all others around us are making wealth despites the terrible states of the nation economies.

Cost Projection

This where the skill , experience and nerves comes in . Because price of everything is very , very high so as a fresh entrepreneur who just start up. If you are not very calculative it unfortunate that your own capital would get sliced up. So , now those who truly meant business are into business . Because the states of economy is very terrible.

Work Simulation

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Touching real work simulation is quite plain that working as an employee is not as same working your own small scale business more as an entrepreneur.

The beauty of an employee is most of them work in team more as team work. And once month finishes their salary get paid to them.

So , you as entrepreneur it's not longer same once you get your own shop outlet open. So , you are your own team and you have to work your own and pay your very self. Once you get busy up interacting with peers or friends outside your shop premise , that means you are closed and won't able to attend to your customers for such while as long as that moments last. If you do that most often you can jeopardize you small scale business.