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welcome to our economic and business board STARTING YOUR OWN BUSINESS
before you starting your business you must first make a good search around in all way such as is there is a demand for your business in your area is there is a good market for your idea ,and sure financial support to support your business within at least first 6 month one main point you need to think about very carefully starting a business with 10k is totally different than starting a business with 1 million pounds in too many way why big business has much more potential to success than small business big business reach more and higher profit percentage than small business example small business start with 10k expecting a profit for 20-30% while large business starting with 1 million pounds reach at least 40% profit why and how this is one of the main reasons why large business all over the world joining together more powerful more experience more ability to understanding the international market and culture so if you are going to start small computer company you will simply buy the parts from the wholesalers who also bought it from the distribution who also bough from the manufacture so you buy the part after it has been add on it another to market profit from both wholesaler and distribution so will say each one has add 20% profit on item A which the original price was £10 seller D sell it to seller w for £12 and seller W sell it to you for £14.40 so you will to sell the part for at least £17 same as the other seller sell it with so you profit as well around 20% but if you are a large computers company you will buy the part direct from factory for £10 and then sell it even cheaper say for £16 then your profit is 60% this is a simple example as the other example may disappoint any small business ,
my advice
my advice to all small business ,
you will need to work far much harder than large business you will to look around for special offer and deals from suppliers to find your own way it will be far much better to find a partner rather than worker ,work from rather than renting a shop ,marketing your products online better, use all your effort to market your products through every available channel ,think about new marketing ideas that help your business grow ,try to sell your products locally if possible to avoid postage cost or damage on delivery ,look after your customers more than any thing else ,90% of customers go to where they feel welcome and remember your welcome and honesty with your customers will pay for it self by returning customers. good luck to every one .
if you do have a comment or would like to share an advice then please do so by clicking on the edite icon
Mohammed Rateb
wlc team
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