Business start

International Journal of Managerial Studies and Research(IJMSR), 2018

Abstract:There exist an acute want of information on the challenges and prospects for entrepreneurial ventures in many developing countries. This paper therefore seeks to show some light in this sector, by examining the challenges and prospects facing trading entrepreneurial ventures in Cameroon the case of some selected trading enterprises in Buea Municipality. The research was based on three objectives which where: (1)to examine the nature and characteristics of entrepreneurial trading ventures in Buea Municipality,(2) to assess the internal challenges facing these entrepreneurial ventures and lastly, (3) to identify opportunities to enhance these entrepreneurial ventures. To achieve these objectives, the study made use of the descriptive survey design and employed a sample of 115 respondents that were drawn conveniently from the study population. Data was collected principally using a close ended questionnaire. The quantitative data were analysed using descriptive and inferential statistics with the aid of the Statistical Package for Social Science (SPSS) version 21 and Microsoft Excel 2013. The findings showed that, 80% of the trading entrepreneurs in Buea deal mostly in cosmetic, electronic, fashion etc. These traders possess at least two characteristics of entrepreneurship with small sizes, few numbers of employees, very few number of branches established etc. Also, the Results revealed that, internal challenges like; lack of business plan, strategy, skills, staff, structure, finances, style, system were the most prominent amongst the ventures examined. The findings equally showed that, 57% of traders would prefer attaining workshops and seminars rather than constitute themselves into group which could helpthem grows the businesses at a faster rate. 75% of them also agreed that, taxes levied by the Government are too heavy on them hence preventing their growth. The research therefore recommended that, taxes should be reduced, all businesses should have a plan on how to operate starting from the supplier to the consumer.Keywords:Entrepreneur, Entrepreneurial Venture, Prospects and Challenges

Journal of business management and accounting, 2018

Many small businesses start with sole proprietorship or partnership. When the business grows or the entrepreneurs intend to expand their businesses to a larger area or export to overseas markets, the current setup might not be suitable anymore. The entrepreneurs might need to transform into another form of business organization, a small and medium enterprise (SME) with an incorporated company status might be more suitable, have better corporate perceptions, ability to raise fund for business expansion, tax planning opportunity, business continuity. This article is aimed at looking at the transformation process that took place in a company from partnership based to an incorporated company. Transformation of businesses for small business owners might not be a big challenge for them, since they know how to run their business and the use of the latest marketing trend. However, transformation in terms of forms of business organizations and corporate compliance requirements would be a challenge for those who are not aware of the requirements. This article provides an understanding of common forms of business organizations in Malaysia, outline the factors to consider, reasons and benefits to convert business from a partnership to an incorporated company, and ensure compliance requirements after incorporation. This article serves as a guideline for a partnership company which is expanding to transform into an incorporated company form of business organization in Malaysia.

International Journal of Small and Medium Enterprises

In most developing countries, majority of the family businesses are started with the support of networks on a small scale in the informal sector because the families and entrepreneurs are poor. Moreover, in areas where they are actively involved in networks, the benefits of such network relationships are rarely harnessed. In South Eastern Nigeria, the state of informality among family businesses has become a source of worry to both the State governments and owner-managers of family businesses. This is coming on the heels of the country’s economic recession and the need for the governments to increase their internally generated revenue. And the quest by the family business owner-managers to evade tax so as to increase their income. This is evident from the increasing number of family businesses that are operating outside government system of regulation in the zone. Based on these scenarios this study seeks to assess the effect of intra-industry network on family business formalizatio...

Journal of economics, finance and management studies, 2023

The informal economy is an integral part of a larger economic landscape. Micro Small and Medium Enterprises (MSMEs) informality is attributed to government regulation, a lack of finance, and a lack of access to land, so they do not see the need to formalize. The primary goal of the study was to assess the informal sector's business registration patterns: nature and size among MSMEs in Lusaka. The study's objectives were: to describe the size and nature of businesses in the informal sector not registered with PACRA, to assess the efficacy of the policy framework designed by the Ministry of Small and Medium Enterprises to stir the growth of entrepreneurship in Zambia and to determine the business registration patterns and reason (s) why some of those MSME's have registered their businesses. A descriptive study was conducted with a sample size of 153. The sampling techniques used were purposive and snowball methods. A structured questionnaire was used to collect data and the questionnaire return rate was 82%. The study findings were that out of the 125 respondents, 58% were registered with PACRA and only 42% were not. The high number of MSMEs' reflect the size of informality. Most businesses that were not registered mainly operated in non-specialized wholesale and retail trade. The study findings also revealed that the Ministry of Medium and Small-Scale Enterprise Development had not completed the process of finalizing policy frameworks aimed at strengthening the growth of entrepreneurship in Zambia. The other study findings were that most MSME's registered their businesses mainly because it was a legal requirement. This was attributed to increased public awareness as a result of the passage of the Business Regulatory Act No. 3 of 2014. Lastly, the study was also able to identify a significant trend in the registration pattern of MSME's in Lusaka. There has been an increase in the number of registrations in the transport sector, while the wholesale and retail trade, agriculture, fishing and construction continue to top the trends. MSME registration helps to access business support services, meeting legal requirements, and promoting business growth. The MCTI should use the findings of this study to map formally registered businesses, track their growth, and enroll them in business accelerator programs.

2021

The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.

This study presents and discusses a methodology for identifying and characterizing family businesses. Its main research question searched to what extent the family name in the legal corporate name may be taken as a reliable indicator of family business. Data were collected by semi-structured interviews with business owners of a sample comprised of 143 firms. A flowchart was also developed to identify some characteristics related to the generation in charge of the company. The results led to helpful tools for the research purposes. In the one hand the results showed that the family name in the legal corporate name is not as reliable indicator of family business as it could be expected. Additional efforts must be done in this sense. On the other hand, among the benefits of this study there is the possibility of identifying the business in one of a range of five strata.

Challenges of the Knowledge Society, 2013

The present study intends to point out the different designations used to indicate business identifiers and verify whether they facilitate the minimization of the two types of transaction costs usually mitigated by such identifiers. Even when the Paris Convention for the Protection of Industrial Property was being drafted in the 19th century there were ample debates regarding the need for an international protection for trade names. And even then the reports presented to the Congress then mentioned the fact that national protection for trade names was provided for under various designations and with different scope in the countries that were analyzed. Since the determination of the various designations used has as its starting point the provisions of the Paris Convention an analysis starting from the designations used in France is necessary. A comparison with the terms used in Germany and France is then provided so as to offer a wide array of models for business identifiers that are...

Alaska Law Review, 2016

Forty-five years ago, the Alaska Native Claims Settlement Act resolved outstanding land claims between the federal and state government and Alaska Natives. The fund created by the settlement was used as seed money to establish the Alaska Native Corporations. The Native corporations have particular features which make them distinct from other business entities, these differences have been lauded by some shareholders but have simultaneously drawn ire from others. In 2015 the Alaska legislature introduced H.B. 49, a benefit corporation bill that would allow entrepreneurs to pursue both profits and social ends. This note traces the rise of the modern Alaska Native Corporation. It then weighs the merits of each business entity and assesses which is best aligned to improve the lives of Alaska Natives.

The aim of this paper is to contribute to an understanding of the entrepreneurship process in Africa by evaluating the link between starting up unregistered and future firm performance. The widespread assumption has been that firms starting up unregistered in the informal economy suffer from poor performance compared to those starting up registered and in the formal economy. To test this poorer performance thesis, World Bank Enterprise Survey (WBES) data is evaluated from across 41 African countries covering the period from 2006 to 2013. Controlling for a comprehensive set of other determinants of firm performance, the finding is that formal enterprises with five or more employees that started up unregistered have significantly higher annual sales, employment and productivity growth rates compared with those firms that registered their operations at startup. The paper concludes by discussing the theoretical and policy implications of this finding.