Buiness managment : personal motivation for starting a buiness

Question 1

list 5 personal motivations for starting a business?

Answer 1

1. Personal independence
2. financial independence
3. to make a profit
4. to fulfil a market need
5. to fulfil a social need

Question 2

What is financial independence

Answer 2

is the ability to fund a desired lifestyle without relying on income from another individual.

Question 3

what is personal independence

Answer 3

is being in control of your own decisions and actions.

Question 4

what is fulfilling a market need

Answer 4

products or services that are not yet available

or a gap in the market

Question 5

what is fulfilling a social need

Answer 5

to help the community, something that the community needs

Question 6

what is making a profit

Answer 6

is the remaining amount of revenue left over after expenses have been deducted