From the 40 respondents that the researchers were able to survey, all agreed that in money is one of the factors needed to starting up a business. As a follow up to this result, the graphs below (Graph1 and Graph 2) shows that all of the financial students agreed that starting a new business requires every entrepreneur to exert money, effort and time. Though the researchers’ respondents have different Year level and Genders they all agreed that money, effort and time are required in starting a business.
Another statement, although optional, included in the survey was “A busy shopping center will be an ideal place to locate a business.”
As what shown in the graphs below (Graph 3 and Graph 4) ...view middle of the document...
As shown in the graphs below (Graph 7 and Graph 8) many of the researchers are aware that technology is another important to consider in starting up a business. As what Fuller, stated that “Entrepreneurs should be aware of the presence of technology, particularly new technology”. Technology is one of the things to be considered in starting up a business. It makes the production of the goods and services of the business to be faster than producing it without technology. Technology is also a way to operate the business easily and no hassle.
Another statement is that “Market research is the first and most important task you need to accomplish before you start your business”. As shown in the graphs below (Graph 9 and Graph 10) it shows that all of the researchers agreed that in starting up a business, business person should examine the market for he will know what will be the product that will attract many consumers. These will make the business person know if the business that he will be going to take on will be productive to the community where he will put his business. All of the Financial Management students are aware that in starting up a business, business person should first examines what are the product needed by the community and the product that will make the business successful. It will figure out the market potential for the business, about the prospects for success and the direction of the business will take.
Another statement is the “Money is the most important factors to consider in starting up a business”. As shown in graphs below (Graph 11 and Graph 12) it shows that all of the 40 respondents agreed that money matters in starting up a business. It is used to support the finances and expenses of the business. Money makes the business operate and to be successful.
In the statement “It is very important in any business to know who your competitors are and what your competitors are doing” as shown in the graphs below (Graph 13 and Graph 14) like the other statements many respondents also agreed that you should have knowledge about your competitors. Having knowledge about your competitors makes a person use to evaluate one’s business and its success. Then ones can explain things differently by looking for products or things a person’s competitors don`t have in order to have a competitive advantage or stronger hold on the market.
As shown in...