ENTREPRENEURSHIP

This is generally the simplest way to set up a business. It is owned by a single individual who is singly responsible for running the business and is accountable for all debts and obligations related to the business.

(a)  

When it occurs, it is expected that buyers will switch to alternatives in case of price increases.

(a)  

is an agreement in which two or more persons combine their resources in a business with a view to making a profit.

(a)  

• Intensifying competition from established chain restaurants

• Uncertain economic environment

Are types of?

(a)  

Two types of partnership

(a)  

When investors see that a market is profitable, they will desire to join the bandwagon and get a share of the profits

(a)  

It is a legal entity that is separate from its owners, the shareholders.

(a)  

• Higher costs than comparable chain restaurants

• Single location means limited reach

• Modest advertising budget

• Not currently using food delivery apps/technology

Are types of?

(a)  

This factor is about the resources and experiences readily available to the business proponent.

(a)  

an entity organized by people with similar needs to provide themselves with goods or services or to jointly use available resources to improve their income.

(a)