Articles
Business and its factors
by Finway FSC Empowering People FinanciallyWhat is a Business?
We all know in a way what a business is. It is an undertaking by
a group or individual that work towards a common aim of gaining and making profits.
This is done by selling either the services or the products.
Factors involved in a business?
A business is not a one man show. A team together is responsible
for running a business. Based on the needs, certain factors are categorized.
Let us understand these factors:
Idea: An ideation of thought
and then implementing the same into a tangible form is a pre-requisite of any
business. Unless you know what you want to do, even the money you have goes in
vain. It is vital to know the audience and the idea alignment well.
Finance: Each business
requires finance not just in the beginning but as it progresses. The initial
finance is referred to as the capital. Some have them and others take a loan against property or an unsecured loan. The other way that people prefer is
by converting a part of their homes into an office. This helps them save on
some finances. An arrangement like this is successful for a service-based
business. In such cases, loan
against property is also not needed as you are not paying rents and
can manage from your savings.
Employees: Recruiting the right
set of people who will become your workforce is the most daunting task. Trust
is what you must build along with being foresighted. So recruiting someone to
work with you, you must have your terms clear and conspicuous.
Space: Office space creates
an impression. For example, if you are starting up a service-based
business in Delhi, you will need a reasonable space that you can
call your office. This creates an image of you in the market. Sometimes, due to
lack of funds, business loan in Delhi is also available so you can have a competent place to work.
Technical Structure:
The online aspect of every business has now become preemptive. For any business
to be launched, an online portal or E-commerce is launched in parallel to the
physical office. This takes up a lot of cost as maintaining a website is rather
expensive. A part of your business
loan in Delhi that you take can be used for this purpose too.
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About Finway FSC 
Empowering People Financially
24 connections, 0 recommendations, 99 honor points.Joined APSense since, September 25th, 2018, From New Delhi, India.
Created on Sep 23rd 2019 03:55. Viewed 184 times.
