Geography & History Notes | KCSE, NECTA, ZIMSEC & GCSE

  There are many possibilities for one who wants to start a business. These include; 1. Retail or wholesale type of business Retail businesses sell goods directly to the consumers usually in small quantities. Wholesalers buy goods often in large quantities from manufacturers or importers and then sell them to retailers and other distributors. 2. Franchise or independent type of business Many established companies offer franchises which are basically copies of their companies. If one buys a franchise, he/she is buying the right to sell the parent company’s goods/services in a specific area. Besides paying a franchise fee, he/she will also have to pay royalties perhaps additional fees to the franchisor. An independent business on the other hand is the one that one creates and nurtures on his/her own. Starting an independent business gives one the control and freedom that one will not get from a franchise operation. 3. Product or service type of business If one is a trained profession...

 HERE ARE 7 INDICATORS OF GOOD BUSINESS OPPORTUNITIES 1. Availability of market/real demand. Market means people or institutions willing and able to buy goods and services of a business. 2. Availability of required resources. These refer to the means required for production of goods and services, for instance, capital, raw materials, labour, land, e.t.c. 3. Reasonable level of return on investment. The rewards/profits realized from the business should be acceptable depending on the level of investment by the entrepreneur in terms of risk and effort. 4. Availability of required technical skills. This refers to the machines and skilled manpower needed for production of goods and services. These should be available and affordable for a business idea to be feasible and viable. 5. Acceptability in community. For a business to be viable and feasible, it should conform to the social norms and be liked by society. For instance, a bar business would not be viable in a Muslim dominated commu...

 1. Good income potential. A good business opportunity is one which is capable of giving sufficient income to support oneself. It should be able to produce a good, steady and full-time income. 2. Sizeable market gap in terms of people or institutions willing and able to purchase goods and services of a business. 3. Low or moderate start up capital. A good business opportunity is the one which requires low capital investment. 4. Good growth potential. An attractive business opportunity is one which has the chance to survive for a long period of time while generating sufficient income to the owner. 5. Reasonable ease of entry into the market. It is advisable that one should enter into a business in which he/she has got the general background of it. This enables the entrepreneur to get started easily. For instance one can be able to use the contracts one already has and one’s reputation in the field could be valuable in running the business successfully. 6. Related to one’s skills and...