about the 30-day credit. We had consumed a majority of our capital‚ leaving us in money being owed to the bank. We therefore decided to apply for an overdraft to allow us a margin for error. Also as a reassurance as well as necessity‚ we needed to raise capital‚ so we borrowed surplus from friends and family. Customers continued not to pay money owed to us‚ leading in Microvault going in to debts of thousands of pounds. This was not acceptable so we set up credit control to regain money owed to us. We
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more companies competing for our business and offering similar high quality products for lower prices. Our company has been forced to find alternatives to continue to provide the same quality in our products and compete in offering the lowest prices in our industry. It is therefore that I recommend that our company consider expanding our production to Honduras‚ where the cost for labor is considerably less than our current cost here in the United States and in doing so will offer us the opportunity
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Small businesses in the United States are on the rise‚ and Presidential Candidate‚ Hillary Clinton‚ has taken this opportunity to win over the hearts of small business owners and entrepreneurs across the United States by expounding on her proposal to help small businesses succeed. According to the Augusta Press in the article “Hillary Clinton Releases Small Business Plan” (Graham‚ 2016)‚ Clintons devotion to implement change for small businesses derives from her childhood when her father ran a drapery
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there wasn’t not only small or middle business‚ there was not any business at all‚ everything was public and there was no owners; so all countries of ex-Soviet Union have to develop their small enterprises intensively. For Kazakhstan‚ it was very difficult‚ mainly because Kazakhstan had more mineral industry and a little of agriculture‚ for the most part - grain. Processing industry was very weak. When USSR broke up and young Kazakhstan had to care about itself‚ enterprises needed huge amounts of money
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Assignment 6: Ideas and Opportunities (20.0 points) In Section 6‚ you learned about recognizing business opportunities and finding business ideas. Now you’ll start developing an idea for your own company. 1. Describe 3 trends that you’ve noticed‚ and explain how each one might generate a small business opportunity. (3-6 sentences. 3.0 points)Figure out who the potential customers for your business are‚ and then talk to them. Find out if they would be interested in buying your product and service
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THE ROLE OF SMALL SCALE INDUSTRY IN NATIONAL DEVELOPMENT IN NIGERIA Ayozie Daniel Ogechukwu‚ Delta State University‚ Abraka‚ Delta State‚ Nigeria‚ The Federal Polytechnic‚ Ogun State‚ Nigeria Abstract A business whether small or big‚ simple of complex‚ private or public is created to provide competitive prices. Business in Nigeria has been classified as small‚ medium and large. In both the developed and developing countries‚ the government is turning to small and medium scale industries‚ as a means
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The small business I would like to start would be a candy store. This paper will define strategic management‚ planning and explain why a strategic plan is important to the success of this business‚ and explain the four functions of management relative to creating and implementing a strategic plan. Strategic Management is the groundwork for a company ’s vision and allows a company to be ready to capitalize on opportunities. Strategic management is a process of evaluating a company ’s mission‚ establishing
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should start to acquaint themselves to the penalties of copying from sources and/or from their fellow students. They should understand that any plagiarised and/or copied assignment will result in a heavy market deduction. Small Business Plan The purpose of this TMA is to set up a small business plan through the attempt of the following questions: 1. Using external references discuss the advantages and the disadvantages of small business. 2. State the purpose of the business you intend
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Ryan Feemster University Of Phoenix Ms. Kessel Acct 561 Small Business Idea Paper Week 2 12/24/2012 Small Business Idea Paper A business can create large sums of income for an entrepreneur or entrepreneurs. Most future business owners have an idea of what type of service or product to offer. Deciding the type of business organization to become can be a tough decision. Whether the it be a sole proprietorship‚ partnership‚ C- Corporation‚ S- Corporation‚ or a Limited Liability Corporation
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Introduction Long ago people viewed “risk” as the inevitability of chance which occurred beyond the control of humans. In today’s world the concept of “risk” has turned into riches‚ as risky ventures have become the norm in the business world. “Risk” therefore applies to decisions that can have a bad or good outcome. The different types of “risk” can include financial‚ legal‚ ethical‚ information technology‚ or even human resource since it can exist everywhere and at any time in our lives.
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