ABSTRACT

Businesses have been known to evolve from a hobby or pastime and are often driven by consumer demand for an underdeveloped product or service. If unemployment occurs unexpectedly, and without the benefit of redundancy benefits, there is often the will to set up a business, but also the lack of capital with which to do so. There are still endless possibilities for new businesses as the 21st century has brought with it a number of challenges and opportunities. There are opportunities to develop new and cleaner sources of power, make our cities more sustainable and improve our communities with the latest technological developments. There is nothing wrong with dreaming that run own business and become rich in the process, but there is a lot of hard work involved and many sacrifices to be made. With regard to 'what the business is going to do', many businesses look for a unique selling point that will distinguish them from the competition.