Friday, 11 May 2018

The 10 Best Small Business Ideas

1.Art Gallery

I see two routes to success in this business: 1) Focus on artists with well- established followings that you are comfortable that you can sell or 2) Take on less well-known artists on a consignment basis, meaning you don’t actually buy the painting from the artist until the day you sell it. This can be a finicky business–people’s tastes can change and a gallery that is successful one year can find itself struggling enough. So, keep your overhead manageable and watch for changing trends.
2.Bartending Service
Sign up for a bar-tending course at the local community college or adult education center, get a safety certificate if your state requires it, and then you’re ready to start serving. Usually the client will provide the booze and the glasses, you might bring a few mixing tools or even a service cart if you want to get fancy. Demand for this service will run strongest on the weekends, making it a great part time gig!

3.Boat Tours

You don’t need to own a big boat to take people on evening boat tours! You can lease the boat, market the tours and build a business without the overhead.To make it more fun, you can buy a few small drive-it-yourself speed boats and lead your customers around the local harbor. What could be more fun than that!

4.Cake Making

I can barely “cook” a frozen dinner, but you may have the cooking skills that I lack! People will pay good money for a really awesome cake for special occasions. Get some great cake pictures up on your website, promote your skills to event planners and build your clientele!

5.Clothing Boutique

My kids did an upscale sneaker and related goods boutique. This can be a lot of fun but it may be harder than you think to make money. First make absolutely sure your location has great foot traffic—stand there and count heads before you sign a lease! Then develop a distinctive plan for merchandising, and don’t be afraid to mark down what isn’t moving.

6.Clothing Line

Yes, you can start your own clothing line with just a few items, be successful and have a lot of fun along the way! Look at Ralph Lauren who started by selling a couple neck ties and then built that into a multi-billion-dollar empire. Contract out the manufacturing which is the really hard part of the work. Then focus on developing eye-stopping designs and talking it up with potential re-sellers, or sell the items yourself online!

7.Coffee Bar/Tea Salon

Yes, you can compete with the Starbucks and Dunkin Donuts of the world! However, these chains have raised the bar, so your coffee or tea must be not just good, but awesome! Your ambiance better be good too. Your location needs to be good as well. Plus, you need to be distinctive. One way to stand out is to compliment your world class beverages with some fabulous foods. So yes, you can compete, but you’ve gotta be firing on all cylinders in this competitive space!

8.Craft Beer Pub

A few years ago, I overheard a conversation in a gym about a fellow who was planning on starting an Irish pub, of which there are close to million (well almost a million) in Boston, but then changed his mind and opened a pub focusing on craft beers. It was wildly successful! In addition to being a unique idea at the time, he also chose an excellent location and developed a solid food menu. Unless your overhead is extremely low, you are probably going to need to serve food to make a go of this business, so yes you can be extremely successful–but it is no small undertaking.

9.Cupcake Business

There’s something magical about a cupcake that says fun and silliness and makes you feel good! You can cash in on that feeling and make others happy. But if you are specializing in cupcakes, people expect them to be excellent! And if you want to be remembered, they should be world class awesome!

10.Gift-Basket Design

Wouldn’t it be fun to make a gift-basket overflowing with a bunch of carefully selected and really attractive items? Of course, it would! You could have a lot of satisfaction putting together distinctive gift baskets that will delight your customers and bring in sales!

Thursday, 9 November 2017

E-Commerce


E-Commerce is a transaction of buying or selling goods online.
"Electronic commerce (e-commerce) is a type of business model, or segment of a larger business model,
that enables a firm or individual to conduct business over an electronic network typically the internet".
when you purchase a goods or service online, you are participating in e-commerce.

E-commerce is about doing business electronically. It is based on the electronic processing and transmission of the data including text, sound and video.

Electronic commerce involves performing commercial operations electronically. It has emerged as an important application of information technology in the modern society.
Traditionally, buyers and sellers used to meet physically to perform commercial activity, whereas in e-commerce the contact between buyers and sellers is completed through the use of information technology.

It encompasses diverse activities including electronic funds transfer, electronic share trading, electronic bill of lending, commercial auctions, collaborative design and engineering, online sourcing public procurement, direct consumer marketing and after sales service. It involves both, product (e.g. consumer goods, specialised medical equipment) and services e.g. (information service, financial and legal services.

From the above, it can be clear that e-commerce is not the mere buying and selling of goods but includes many commercial activities.

Thursday, 19 October 2017

Import-Export Trade

Import:-
An import is a good brought into a jurisdiction, especially across a national border, from an external source. The party bringing in the good is called an importer. An import in the receiving country is an export from the sending country. Importation and exportation are the defining financial transactions of international trade.
In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions.

Export:-
The term export means sending of goods or services produced in one country to another country. The seller of such goods and services is referred to as an exporter, the foreign buyer is referred to as an importer.
Export of goods often requires involvement of customs authorities. An export's counterpart is an import.


Wednesday, 18 October 2017

Domestic Trade

Domestic trade, also known as internal trade or home trade, is the exchange of domestic goods within the boundaries of a country. This may be sub-divided into two categories, wholesale and retail.

1.Wholesale Trade:- The wholesaler is one who purchases goods in large quantities from manufacturers and sells to retailers in smaller quantities. Wholesaling may be defined as "as a process of distributing goods from producers to retailers". Generally, manufacturers sell their goods to the wholesalers in large quantities. Wholesalers can specialise in a particular line of goods. They also deal in few allied lines of goods.

Generally, the persons of firm carrying on wholesale trade are mainly concerned with the distribution of different varieties of goods; for example, in 1] Conventional goods required for specific purposes such as drugs, medicines, stationery etc. 2] Goods like food grains, wheat, rice and edible oils etc. 3] Speciality goods such as electric products, gold, garments, fancy goods etc.

2.Retail Trade:- Retail trade is a part of home trade and is mainly concerned with the sale of goods in small quantities to the final consumers. The trader who provides goods in small quantities to the consumers is known as a retailer. The retailer is the last link in the chain of distribution.

People buy things for their daily need at retails shops, which are common in every locality. Retail trade cannot be operated on a uniform basis. A retailer carries on his trade in the local market.

The Main Factors Affecting Location Are

Market:-
The nearness of the market and the cost of delivering the goods are likely to be important factors.

Raw Materials:-
If the raw materials are bulky and expensive to transport it will clearly be in the entrepreneur's interest to locate near to them.

Transport Costs:-
The two major influences are the pull of the market and the pull of the raw materials and these are determined by whether or not the industry is bulk-increasing or bulk-decreasing.

Land:-
Land costs vary considerably nationally and some firms, e.g. wholesalers, might need a large square-footage. They might, therefore, be influenced by the cheaper rents and property prices found in some areas.

Labour:-
The availability of labour might well attract firms to an area, particularly if that labour force has the skills they require.

Safety:-
Some industries have to locate their premises well away from high density population levels and their choice of location is limited.

Waste Disposal:-
Certain industries produce considerable waste and the costs associated with the disposal of this might affect their location.

Government:-
Government provides special assistance to areas of high unemployment. This takes place within the UK, and is also a feature of wider European Union regional policy.

Location Of Business

The location of a business is the place where it is situated. There are a number of factors that need to be considered in choosing a location for a business. One of the earliest decisions any entrepreneur has to make is where to locate his or her business. In order to do this, he or she has to make a careful assessment of costs. The ideal location would be one where costs are minimised. The entrepreneur would need to look at the benefits which each area had to offer as well as any government help which might be available.

A number of businesses have set up close to Heathrow Airport because of its location. For example, companies engaging in importing and exporting find this a convenient location. In addition there is a range of hotels, and taxi firms who benefit from the international flow of passengers. Additionally security and aircraft maintenance firms have located there.

Monday, 16 October 2017

Business Size


In the industry, there are business units of varying sizes. Some are small, and some are big, and many of giant sizes. The costs of production in these firms of different sizes vary. A businessman must determine the size of his business unit i.e the scale of its organisation and operations because of the size determines efficiency and profitability of his business unit. With a view to make the most economical use of the available resources, the businessman has to select the most ideal size which economist term it as "optimum firm".

The problem of size is related with the laws of returns as well as the principle of division of labour. For the purpose of selectivity ideal size of the firm or business unit, the businessman has to assess the financial and other facilities he can command. Finance and the managerial capacity will determine the actual size of the business-small or big. Adequate provisions should be made for horizontal and vertical expansion.

The U.S. Small Business Administration counts companies with as much as $35.5 million in sales and 1,500 employees as "small businesses", depending on the industry. Outside government, companies with less than $7 million in sales and fewer than five hundred employees are widely considered smal businesses.

The 10 Best Small Business Ideas

1.Art Gallery I see two routes to success in this business: 1) Focus on artists with well- established followings that you are comfortab...