What kind of business venture would you choose – start a new business, buy a franchise, or buy an existing business? Identify three advantages to your choice and three pitfalls you may encounter?

Dq 1 & 2 | Enterprise & Finance homework assist

I might select to begin a brand new enterprise as my enterprise of selection as a result of it provides probably the most potential for progress. Benefits of beginning a brand new enterprise embody:
1. The power to create one thing from scratch and customise it in keeping with your personal imaginative and prescient and targets.
2. The potential for top returns on funding on account of elevated income because the enterprise grows.
3. Flexibility when it comes to location, hours, and merchandise/companies provided.

Nonetheless, there are additionally some pitfalls related to beginning a brand new enterprise that needs to be thought-about earlier than making the choice:
1. Lack of expertise or business information may result in errors and losses.
2. A scarcity of capital or funds could restrict the scope of what may be accomplished initially.
3. Poor market analysis may end in a misjudgment about demand for merchandise/companies resulting in difficulties in producing income rapidly sufficient to remain afloat.

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