Content of Business Partnership Agreement. Business partnership is the relationship that exists between two or more persons (but no more than twenty) who come together to carry on a trade or business. People are attracted to business partnership because of the advantages it has over sole proprietorship. If you want to consider business Partnership, you should ensure that you involve people you can trust. Besides, it is always advisable to draw your business partnership agreement. The specific terms of the agreement will be determined by the partners. This agreement is called business partnership deed. The partnership agreement should contain the following information: Continue ReadingHow to Prepare Business Partnership Agreement
How Do You Price Your Product To Ensure Profitability? Pricing is one of the important decisions you have to make about your business. For you to be able to run your business profitably, you should know how to price your product or service appropriately. The pricing decision is so vital that it will determine whether you will report profit or loss at the end of the day. It is not enough to have your products sold to customers; they must be sold at the price that will guarantee profitability. If you sell too cheaply or on unfavourable terms you are Continue ReadingHow Do You Price Your Product?
Out of many options, you need to choose the right small business idea. Having gone though the list of various small business ideas we have earlier provided, you need to choose the one that is right for you. It is possible you are confused about which one to settle for. I am here to give you a guide on how to choose the right small business idea. Follow the steps below: Do what you love The mistake many people keep making is choosing a small business idea for the sole reason of making money. Those with this mindset usually end their Continue ReadingHow To Choose The Right Small Business Idea
Importance of a business plan to small businesses. A business plan is not just a piece of paper as some people erroneously believe. A business plan can be seen as a tool with which you can accomplish many things for your small business. Among the small business owners I have privileged to meet and discuss with, only few of them consider a business plan very important. For this reason, I deem it necessary for me to shed more light on the needs for a business plan for small businesses. Below are some of the things you can do with a business Continue Reading8 Reasons You Need a Business Plan for Your Small Business
Market research reduces risk and helps you make better decision. Market research is one of the vital things you must do before you launch your product. You must have thought of different business ideas. I want to believe that you have analyzed all the business ideas and found a particular business idea that is right for you. Or are you still finding it difficult to determine the business idea that is right for you, I recommend you read our article on how to choose the right small business idea. After you have found the right small business idea, there is tendency Continue ReadingWhy Market Research is Important to Small Business