The Most Profitable Industries
The industry in which you decide to enter can have a strong bearing on the profitability of your entrepreneurial venture. Knowing which industries generate the greatest profitability and how and why those profits are generated can help you determine which industries are the most attractive to enter based on your skills and knowledge.
How Elastic is Your Business?
Elasticity measures the change in demand of your product in response to the change in the price of your product. As competition increases in a given market, understanding how elastic your firm and its products are can help you better understand how to improve your competitive advantage and keep your customers loyal to your product.
Improvements to the Small Business Sector
To improve the small enterprise sector a favorable climate must be created via a number of interventions. The required solutions are not simple applications but the general idea is to minimize the items of policy that tend to favor industries and discriminate against small enterprises.
The Law of Demand
As an entrepreneur, you probably spent some time trying to figure out how demand works. Lucky for you, economists have already done some of the thinking for you. This article will help you understand the law of demand by introducing the law of diminishing marginal utility, the income effect, and the substitution effect.
Entrepreneurs to the Economic Rescue
Entrepreneurs are the only pool of businesses currently adding new jobs to their payroll, yet our political and economic leaders have yet to even consider using stimulus money to incentivize entrepreneurs for taking the risks that they are taking in seeking to create new economical and social value.
Reviewing the Benefits of Small Enterprises to the Economy
Thanks to their unique organizational and economic traits, small enterprises are well placed to bring about positive gradual changes to any economy. It is for this reason that small enterprises must be promoted as a matter of necessity in the implementation of national development plans.