When one goes for entrepreneurship, there are several factors that affect business in a good or bad way. These factors also decide the run of a business. Some of these factors are –
It is always advised to study market trends because it gives you the ideas about customer’s expectations & demand for the products. One might develop a good product but if it has no demand in market, such products do not contribute in growth of business.
Ability to seize opportunities –
Due to variations & trends in market, many opportunities are created everyday. Due to internet, ideas & trends spread fast so it increases the competition and one might lose a good opportunity. Thus, an entrepreneur must be smart & competent enough to seize the opportunity which can lead to development of business.
We know that for any business, capital is the driving force. If the investors are unable to provide the constant capital, it can affect the business adversely. The non-availability of capital may shut down the business permanently.
Every businessman, entrepreneur knows the consequences of recession. It causes loss of demand and decrease in revenue without which it is almost impossible to survive in market