STUDENT 911
profit.
Many young people more especially
students, think of starting their own
businesses to earn an income while
studying. Some of them want to do it
because they do not want to work
for someone else, while
others need to do it
because they have to earn
some money to pay for their fees or
provide for their families.
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Unemployment is
a big problem for
many South Africans.
There seem to be too many individuals for too few jobs that are
available. One of the best solutions
to reducing unemployment is selfemployment.
Self-employment is noble way to
earn money where there are not
enough jobs available. Thousands of
people have become entrepreneurs
by creating small businesses that
are incredibly successful.
What is an entrepreneur?
An entrepreneur is a person who
recognizes a business opportunity
and takes initiatives, and risks to
create a business venture of his
or her own with an aim of making
What is a business?
A business, also known as an enterprise is an organisation involving the
production of goods, the delivery of
service, or both, in order to satisfy
consumers’ needs.
Small Businesses
With very little allowances, every
business starts off as a small business. Some of them stay small;
others grow as time goes by. Small
businesses are normally privately
owned partnerships or sole proprietorship.
you need evaluate whether
you have the ability to handle
personnel, merchandising,
physical facilities, sales, accounting,
advertising, finance, risk, and daily
operations. If you do not have every
one of these skills, you can always
hire people who possess them.
2.
Beware that insufficient
capital is the major cause of small
business failure. The smaller the
capital you invest your business, as
the owner, the higher the risk of your
business failing. It is recommended
that owners provide at least twothird of the required capital.
3.
You must have a competitive edge! Special features
must differentiate your business
from bigger, older and experienced
business. Some of this features are:
good store layout, better advertising, higher quality at the same price,
better service and more attractive
packaging.
The truth is that managing a
small business demands the
same process as managing a
big business with less
available resources. This can
be a bit tough, but there are
three ways to balance out the
disadvantages of being small.
1.
As an entrepreneur,
Student 24/7 - 19