Day: October 21, 2020

Certain psychological and physical barriers between people may distort the communication process and cause misunderstanding and confusion. Hierarchical barriers Communication between superiors and subordinates tend to be rather cautious. The superior wishing to maintain authority and the subordinate protecting himself Read More …

There is no standard approach in preparing a business plan. There are many variations on the theme of what exactly goes into a successful business plan. All the variations however have the same basic elements. These are; A brief description Read More …

To be successful, every business will need to have a business plan. To communicate with other stakeholders, the entrepreneur will definitely need a business plan. This will enable him share his ideas with the people who will have an influence Read More …

A business plan is a detailed account of the conversion of the entrepreneur’s ideas and vision into a real, functioning business. It is a document that sets out how the entrepreneur intends to execute the ideas he has thought of Read More …

Entrepreneurs would really do with a bit of encouragement for them to succeed in their businesses. This comes in the form of incentives from the local and the central authorities. The incentives could come in a form that enables them Read More …

There are various theories that have been put forward by various scholars regarding entrepreneurship development. Discussing these theories will help us understand better the nature of entrepreneurship. The emergence of entrepreneurship has brought with it immense insights that we need Read More …

Business amalgamation refers to the process where, by mutual agreement, the owners of two or more business combine resources to operate as one legal entity. This can take any of the following forms. Merger Acquisition Take over Franchise. These are Read More …

Businesses can acquire finances from various sources. These include; Owner’s Capital This is often the only source of capital available for the sole trader starting in business. The same often applies with partnerships, but in this case there are more Read More …

An entrepreneur needs to be well versant with the law of the land, at least to the extent to which his firm will be affected. Ignorance of the law can be very detrimental to the survival of the firm and Read More …

The Government has a huge role to play in creating a conducive environment for the growth and development of enterprises. There are things that the entrepreneur will not be able to accomplish without the support of the government. On this Read More …