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Evaluate the problems facing a new business.
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| Submitted: Sun Oct 05 2003
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Evaluate the problems facing a new business When setting up a new business, the proprietor is taking a huge risk. With something like 400,000 businesses set up every year, there is bound to be some failure. There are numerous problems to face and, if you are to succeed, overcome to make the new business a success. Hopefully I will be able to show these problems to you and the conclude which I think are the most important. The first thing that all businesses should do is to discover if the market is sufficient enough to sustain the livelihood of the owner. This is achieved through market research. Businesses without this kind of research cannot succeed as they soon discover there was too much competition. Without market research, it is impossible to plan ahead as to your potential customers, and without a plan, it is difficult to get the financial backing due to...
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