Starting A Business and Types of businesses

Every year, thousands of people in the UK set up their own businesses.

Reasons for starting a business

People who start up in nusiness are called entrepreneurs. Entrepreneurs are willing to take risks to set up on their own. They see an opportunity and have the determination, motivation and focus to start their businesses rather than working for someone else. There are many reasons why people might start up in business for themselves. For example:

• They want to be their own boss and make their own decisions (rather than being employed by and reporting to someone else).
• They want to keep all the profits of a business for themselves (rather than working for owners who keep the profits).
• They need a job and starting their own business is one way of making sure that they are employed and, hopefully, that they earn money.
• They have an interest or hobby and this grows into a business.
• They want to prove something to themselves (and possibly others) by showing they can start a business for themselves. This may give them a sense of satisfaction.
• They want to provide a service for others. Some…