How to Start a Small Business - Desklib

How to Start a Small Business
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Table of contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
4. Aim..........................................................................................................................................3
5. Objectives................................................................................................................................3
6. How the objectives will be achieved.......................................................................................3
7. Time scale................................................................................................................................4
8. Brief background of the problem/topic....................................................................................5
9. Background Search..................................................................................................................5
10. Marketing strategy or market entry strategy..........................................................................6
11. Impact analysis......................................................................................................................7
12. Constraints.............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
Small business is business which functions on small level and involves less capital, less
machinery and less labour (Julien, 2018).
The report will analyse aim and objectives to achieve them effectively and efficiently and
how objectives will be achieved will also be denoted. Time scale will be framed in a proper
manner. Brief background of problem will also be described along with examples which will
help in making report more clear and precise on significant terms. Literature review will be done
which will explain in detail by comparing other available information. Marketing strategy will be
described which will constitute market segmentation, market existence and competitive
advantage factors on scale. Impact analysis will be also done which will help in analyzing impact
of small business on employees, business, environment, society. Various constraints will be
determined and explained which were – arranging of finance, finding a location, government
approval, resistance from local business, resistance from local people.
MAIN BODY
4. Aim
Aim of this project is to develop strong understanding of how to start a small business and
different elements associated with small business.
5. Objectives
 To find and understand information about small business
 To gather information about how to start a small business
 To understand marketing and market entry strategies of small business
 To identify and understand impact of different factors on the business
6. How the objectives will be achieved
Objectives of this project will be achieved through identifying resources that are valid
and reliable and collecting information through these sources. It is important to gain information
from valid and reliable sources for reaching to appropriate and right conclusion (Aguinis and
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et.al., 2020). Once information have been collected from different sources, information will be
analyzed and evaluated for developing understanding about small business and how to start small
business. For this process of starting business will also be considered so that individual can
develop understanding of how to start small business. Later information about marketing and
market entry strategies will also be evaluated to gain understanding of practical implementation
and application of knowledge and understanding gained from the project. In order to achieve
objectives an important element is considering objectives in every step and considering time
limit associated with the objectives. For the purpose of achieving goals in a given time a
timeframe is very important. Time scale will be developed for this project and different activities
of this project and this will enable to achieve objectives of this project (Nwodo, Ozor and
Okekpa, 2017). Completion of different activities within given time will also help in
achievement of objectives efficiently.
7. Time scale
Description of Work Start and End Date
Task 1 Determination of project topic based on interest and
relevant search about topic. For this some initial
online research will be done and importance will also
be considered.
5/7/2021 - 10/7/2021
Task 2 Developing aim and objectives for the project. This
will be done to ensure that work in project is in line
with aim and objectives of project.
11/7/2021 – 13/7/2021
Task 3 Reviewing literature 14/7/2021 – 19/7/2021
Task 4 Completing research about different areas covered in
topic.
20/7/2021 – 23/7/2021
Task 5 Writing report on the basis of data gathered 23/7/2021 – 26/7/2021
Task 6 Creating final report 27/7/2021 – 27/7/2021
8. Brief background of the problem/topic
Small business can be defined as any privately owned business, partnership business that
is started through small investment in business capital and business also starts with limited
number of people involved in and associated with business. Countries also have definition for
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