What A Small Business Can Open

Before deciding which small business could be opened, it should be learned what was meant by " small business " and what forms of organization could be attributed to it. Under current legislation, small persons may be considered as a legal person or an individual entrepreneurial entity with a total of not more than 100 persons per year (for microenterprises up to 15 persons) and whose earnings from activities without VAT were less than 400 million roubles (60 million roubles, respectively). This depends on taxation and available options for small businesses.

According to statistics, about half of the small business is engaged in trade and services. Retail and wholesale trade, car service, repair of domestic and other equipment and products are the most popular. However, it can be bold to say that among such small businesses, competition is the highest.

The next segment on the number of active small businesses and entrepreneurs is the real estate sector, with 11 to 21 per cent of the small business in the real estate. Transport and communications services, small business in the housing-community area, construction, agriculture and forestry are further provided.

What kind of business to choose?

By choosing which to open a mini-business, competition can be based, financial opportunities, experience and skills, but some recommendations should also be taken into account:

• The case must be loved, or at least be liked, or it would be difficult to make itself do it over time;
• There should be a clear picture of the business that is planned to be done, and at the level of experience and skills, not just knowledge, that is, it is not necessary to start a completely unfamiliar business;
• should be an appropriate amount of start-up capital in the form of its own funds. There is no need to start a loan case, as very few projects are actually being purchased fast, and credit has to be returned from the next month;
• Business must be competitive in the chosen area. Ideally, the offer should be unique, no matter what you sell. If the business cannot boast with originality, then study the area of future location for serious competition.

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