skip to Main Content

Welcome

Eugmark Industries Limited is a Fast Moving Consumer Goods Company, with over 30 years of experience we are most noted for our customer satisfaction, delivering quality products with speed and ease. We partner with big names in the Industry, dealing and distributing over 50 brands.

Get In Touch

Email: admin@eugmark.com
Phone: +234 90 6000 0876
Address: 11 Obudu Street, Mile 1, Diobu Port Harcourt, Rivers State

Our Location

+234 90 6000 0876 admin@eugmark.com
STARTING A SMALL BUSINESS

STARTING A SMALL BUSINESS

So many people want to open their own company or start a business, it is best advisable you start small and gradually it would grow into bigger businesses.First, you have to master how small businesses works by doing a critical planning. He who fails to plan, plans to fail.Planning has to do with shaping the future of the business or organisation. Planning encompasses the following;

  • Setting of Organisational goals.
  • Developing strategies to reach those goals.
  • Determining the-resources needed
  • Setting precise standards.
  • The relative size of the business
  • Sales Volume.
  • Number of Employees
  • Type of customers
  • Asset size and capital requirement

WHY YOU SHOULD VENTURE INTO SMALL BUSINESS.

      Small scale enterprises are generally advantageous for economic and social wellbeing of a Nation. Some reasons you should first try small scale.

  1. ENTERPRENEURSHIP DEVELOPMENT.

A small scale enterprise gives room for entrepreneurship development. Most small enterprises metamorphosed into medium and large scale enterprise.

  • NON REQUIREMENT OF HIGH-LEVEL TECHNOLOGY.

In most large scale enterprises the cost of maintenance alone is enough for local entrepreneurs to commerce Business.

  • IT REQUIRES LITTLE OR NO CAPITAL.

Small business is labour intensive. This enables local entrepreneurs to easily commence business with little or no capital. This requires creativity and innovation.

  • JOB CREATION.

Involvement in small scale business enables Individuals to create Job for themselves and others, thereby reducing the level of unemployment.

  • IT DOES NOT REQUIRE HEAVY INFRASTRUCTURE.

Infrastructures such as building, water and power supply are not highly needed.

CAUSES OF FAILURES OF SMALL BUSINESS

He who cannot manage a small business cannot manage a large scale business. These are some reasons businesses fail. VacaHumrichouse( 2008:162-163) stated some of the causes of small business failure.

  • Plunging in without first testing the waters on a small scale.
  • Under-pricing or Overpricing goods or services.
  • Underestimating how much time it will take to build a market.
  • Starting with too little capital
  • Starting with too much capital and being careless in its use.
  • Going into business with little or no experience and without first learning something about the industry or market.
  • Borrowing money without planning just how and when to pay it back.
  • Attempting to do too much business with little capital.
  • Buying too much on credit
  • Extending credit too freely
  • Expanding credit too rapidly
  • Failing to keep complete, accurate records.
  • Carrying habits if Extravagance into the business
  • Not understanding business cycles
  • Forgetting about taxes, insurance and other cost of doing business.
Back To Top