The course of a new business rarely runs smoothly, and indeed the failure rate of new entreprises is so high that many would-be entrepreneurs prefer not to take the risk. But with the right background knowledge, planning and preparation, a new enterprise can survive.

The course of a new business rarely runs smoothly, and indeed the failure rate of new entreprises is so high that many would-be entrepreneurs prefer not to take the risk. But with the right background knowledge, planning and preparation, a new enterprise can survive. This title gives you practical guidelines on how to develop your business ideas and establish your own successful enterprise. The process of developing ideas and starting your own business can be divided into four phases - analyse your personal skills and attributes and those of successful entrepreneurs, and look at the business environment in which the enterprise will operate. Focus on the creative thinking, the development of business ideas and the feasibility study needed to evaluate all these ideas. Test the viability of the idea and then develop a practical business plan. Consider the legal and other requirements for the establishment of the enterprise. These phases are covered in the chapter content of this important title, which includes - Basic business concepts; identifying feasible business ideas; drawing up a business plan; setting up a business; franchisors and franchisees.