Aim as to why one has to start a business.

KIP254

Member
A business is an economic activity carried out by individuals or organisations with an aim of making profits.

Why need to start a business?
A business activity generates goods and services that satisfy human wants. Examples of business activities are farming, manufacturing, banking, warehousing and provision of services such as hair dressing or tailoring.
Any business activity benefits the Owner with making profits as a reward therefore any business has to make a profit if not then its not a business. This helps the community by creating job opportunities and creating a market for the locally produced goods. It helps to raise the economy of the particular area.
 

Ephy

Active member
A business is an economic activity carried out by individuals or organisations with an aim of making profits.

Why need to start a business?
A business activity generates goods and services that satisfy human wants. Examples of business activities are farming, manufacturing, banking, warehousing and provision of services such as hair dressing or tailoring.
Any business activity benefits the Owner with making profits as a reward therefore any business has to make a profit if not then its not a business. This helps the community by creating job opportunities and creating a market for the locally produced goods. It helps to raise the economy of the particular area.
The following can make some to see the need or start a business :-
1. The main aim is to make a profit this is the reward for any business.
2. To cover any market gap or he or she has see a niche in the market and there is need for supply cause demand is high than the demand.
3. To make good use of the resources available in the particular area.
4. To be self employed and be your own boss to avoid all the dramas of being employed someone ruling you like he or she gave birth to you. Sometimes you want to avoid being mistreated by employers.
5. If there is need for competition in the market and able to provide substitute goods or come up with a new products in the market.
6. Need to reduce customer exploration by the one available in the market more so if someone enjoys monopoly.
 

Ralphjoe

Active member
The major aim for starting a business should always be the satisfaction of people's need and want, your business should seek to solve a problem in the society instead of you just focusing on making profits. Well we know that the primary aim for business is to make profits from the business but this shouldn't sideline one of the most pressing needs of the existence of a business which is to solve a societal problem.

Most people are just so fixed on making profits in business while the ignore the most important aspect of business which is to impact lives and the process of impacting lives, you will then get a reward for your efforts known as profit. A lot of Businesses fails due to this over focus on profit of a business.
 

Lyrrex

Member
Aside making money, the number one priority of starting up a business is to meet the demands of the people, to provide lasting solution to problems. The reason why many businesses failed is because the they are so carried away by their profit targets and unrealistic returns at the early stage of their business without knows how to bring solutions to people's problems in exchange for the money. Once we discover the problems in the environment and the solutions to them a money can be easily generated.
 

Seyesystem

Active member
The purpose of establishing a business is to make profit the more profit you make the more successful the business is. Since the
purpose of establishing a business is to make profit and it's expected to be in continuity, so if my business make a huge impact on the people in it business environment I will be very happy and be proud of my business. Profit and impact goes together when there is an impact in the business environment there will be also increase in profit to the business. Every business owner will always happy seeing his business performing well in it business environment and this will make the business owner to put more efforts and resources in the business. So the reason to establish a business to to generate profit and have impact in the business environment.
 
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