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Factors that determine business success.
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[QUOTE="btaliat, post: 220546, member: 26390"] The factors that determine the success of a business most time do depend on the type of business in question but most time there are some factors that are generally responsible for the success of a business. Those factors may include the following. Location will always play a vital role in determining the success of a business. In the eve of starting a business, there must be much consideration on where to situate a business. The location of a business is a great factor in determining the success of a business. Am intending business owner needs to know the targeted audience first before he decides to situate his business lest he many not make much profit. No one can successful remove the importance of capital in determining the success of business. Most time, ceteris paribus, the more capital you put in a business will always detemine the success of a business. There is tendency for a business to crumble when there is no much capital to fund it. Basically, there is always need to have enough capital if not much to power our business. There is need for realistic feasibility study. When6we want to start a business, we need to make sure we study the weakness and the strength. This will prepare is ahead of whatever we may encounter in the process of running the business. There is need to put into consideration the effects of competitors, advertisment and many more . [/QUOTE]
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