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Essentials Of Small Business

By Ryan Fisher

Small business is the life blood of the country. Small shops are situated in the locality to reach the local customers easily. Products are sold on local demand.

Before starting your business you have to become familiar with the demand of the local customers. You have to study the market and local competition. You have to decide first which place will be suitable for your shop and product. Then you have to make arrangements for capital. You can get loan from bank and private investors. You should go for low rate of interest. You can also get help from your friends and relatives.

You can choose sole proprietorship or partnership structure of the business. In sole proprietorship you are the entrepreneur of your business. You have to take the burden of all risk and responsibilities of your business. In partnership you can share every risk, responsibilities and capital among the partners. Than you have to make trade license which gives permission to start your business. Then you have to open a bank current account which is entitled to the name of your business.

Your main motto is to sell the quality product at minimum price so as to win the competition of the market. You have to do market survey in order to get accurate data of the sale price. It will help you to sell product at optimum profit. You have to provide quality service to your consumers to build the reputation of your shop. You can provide many schemes and discounts to promote your product. You can put up advertisement through brochures, leaflets and Internet. If the business is service and trading oriented it needs well decoration of your shop. You may sometimes need accountant and other workers in your shop. The trucks are always the commercial pickup type which helps you to transfer goods.

You have to put maximum effort and energy to make your business successful. You should build the goodwill of your product and service to reach your consumers.

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Article Citation
MLA Style Citation:
Fisher, Ryan "Essentials Of Small Business." Essentials Of Small Business. 5 Jul. 2010. 18 Dec 2014 <>.

APA Style Citation:
Fisher, R (2010, July 5). Essentials Of Small Business. Retrieved December 18, 2014, from

Chicago Style Citation:
Fisher, Ryan "Essentials Of Small Business"

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