The Small Business Forum
Common Sources of Business Ideas (contd)
- Hobbies include activities one engages in for pleasure and indicate an area of interest. The challenge, then, is to find a need in the market that could be addressed by the goods or services and has long-term demand.
- One can go into business practising a skill one has, such as technical skills.
- Problems may include dissatisfaction with the present products — price, quality, or availability.
- Population demographics include targeting age group, gender, education, or geographic distribution.
- Trade may include opportunities for exports and imports.
- Natural resources endowment shows materials that could be exploited for business, either in manufacturing or trade.
- Government policies and regulations may point to possible opportunities for business start-ups or expansion.
Comments, Questions and Suggestions welcome.
drkibuka@thesmallbusinessforum.co.ke
+254-729524219
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