PROBLEMS BEFORE ESTABLISHING A NEW BUSINESS

By establishing a business means to start a new bsiness. Before the industrial revolution, the goods were generally produced for local markets. If was, therefore, easy to establish and operate the business. The conditions are now entirely changed. The goods are produced by machines. The rate of production has gone up. There is stiff competition for the sale of goods in the market. Goods are produced in inticipation of demand. The risk in business has increased manifold. The entrepreneur, therefore, has to be very careful before undertaking any new business. The main factors are problems which are to be examined before establishing a new business are as follows.