Describe a Small Business You Want to Start

Describe a small business you want to start. You should say:

  • what business it would be?
  • when do you want to start it?
  • why have not you started it yet?
  • and explain why you want to start this business.

Sample 1 Describe a Small Business You Want to Start

I have not given a thought to any small business at the moment. However, if I had to set up a small business, it would be selling off my artwork or hand-made paintings to interior designers or home decor companies.

I will consider starting the business in parallel as I am not in favour of leaving my job because I am always concerned about financial stability. Job secures the finances, and business would just be an additional income of source, so I might start after some years when I feel I am settled with my job.

Currently, I have lots of ongoing learnings from my work. Hence, I am highly occupied, so I did not consider it. Currently, I am very content with my job, so I have no motivation to start some business at side anytime soon.

However, even if I felt like doing so, it would surely be with an intention to create more artwork and paintings as I love doing it and can never get bored with it. Plus, additional income is always beneficial, so I might think about this.

Sample 2 Describe a Small Business You Want to Start

Before covid 19, I never wanted to do any business and was satisfied with my job. However, in lockdown, I have realized that one should not rely on a single source of income.

One should have at least two sources of earning. In a lockdown, I developed an interest in baking. I made different cakes by watching tutorials on youtube.

Sometimes cakes turned out perfect, while sometimes, errors happened, and I learned through trial and error. I wanted to learn more about the bakery business. So I searched for any certification courses related to this, and I did a short two months course in which I learned about fondant cake, anti-gravity cake, marble cake and many more.

I also understood how to decide on pricing and take proper measurements to make 500 gm and 1 kg cakes. I did not want to open a business alone, so I asked my brother if he would like to be my business partner.

He agreed, and we started searching for places. We didn’t want any investment from our father, so we started saving. Now, everything is ready, and we are starting a bakery next month, and I’m super excited about this.

Part 3 Questions Describe a Small Business You Want to Start

Question 1:- In your opinion, do business people have to work long hours?

Answer 1:- In my opinion, business working hours are highly unpredictable. Sometimes there are long hours during a peak period of sales, or if there is any advance requirement by the consumer or the vendor collaborating with the business, sometimes there are fewer working hours due to less market value. While working long hours may be essential for business growth, however, I feel it can also lead to several health implications in the long run.

Answer 2:- Initially, when a business is in the start-up phase, they definitely have to work hard. However, once the business is established, then businessmen can assign people to work for them and then they can relax.

Question 2:- How do business people relax?

Answer 1:- Owning a business is a huge responsibility. It can put lots of stress. Every business owner should take time to relax their body and mind, and Nature can be the best therapy. Mind. But, it is not necessary to spend time going out of town to enjoy Nature. Simply walking to the nearest park and sun rays can help relax and have a great calming effect. Change in the environment reduces stress.

Answer 2:- It depends on the individual. Most individuals like to travel, especially overseas. They also like to do outdoor activities to relax.

Question 3:- Let’s move on to the topic of small businesses. How can a small business grow big?

Answer 1:- I think two very effective growth channels can be mergers and acquisitions. A merger is where two small business organizations can come together and form a single unit. In contrast, an acquisition is when one business completely takes over the ownership of the other small business. Other than this, even the online presence can be helpful to grow the small business, social media shout-outs to publicize this small business or the opening of a new product line or a store near the prime location can also exhibit the growth of the business.

Answer 2:- Small businesses can focus on marketing. As to increase reach to people, marketing is a must. The most important thing they should focus on is quality. If the quality is good, then customers are going to come back.

Question 4:- In your opinion, what kind of small businesses will young people have in the future?

Answer 1:- Young people can run small cafes for Vegan food, and nowadays, turning vegan has brought changes in the lifestyle of many people; likewise, having a food chain, especially for Vegan food, can prove to be hyped up by the youth.

Answer 2:- Most youngsters like to follow trends these days, so they like to enter the fashion business as everyone today likes to wear trendy clothes and accessories. Other businesses which they love to follow are restaurants and the tourism industry.

Question 5:- In your opinion, what skills are required to start a small business?’

Answer 1:- First and foremost, research marketing skill and analysis is required to gauge the other marketing product line, critical thinking for starting another product line, promotion & publicity can help grab the consumer’s attention. Accounting helps in order to acknowledge the profit & loss and also to keep track of the growing income. Networking skills to expand the business diversely.

Answer 2:- The most crucial skill is communication skill to start any business. One should know how to talk and satisfy their customers’ needs. Other skills required are management and financial skills.

Question 6:- Finally, let’s talk about globalization. What are the impacts of globalization on small and large businesses?

Answer 1:- The positive impact could be through Globalization, countries and companies have access to a bigger consumer base. Instead of only selling products in their country, a business can expand to other regions boosting sales and, in the process, making more money. The negative aspect can be that globalization has led to increased production for businesses to meet global demand. Increased production means more natural resources are used, and this can be used up before they are regenerated

Answer 2:- I think globalization positively impacts both small and large businesses. Because of it, small businesses can reach any corner of the world. For instance, now, traditional Indian items are also available outside India. Big businesses can sell their franchise globally and earn money.

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