A new business selling computer software has just opened in your town. Explain 3 needs that this business will have if it is to be successful.
Location:
The location should be affordable and close to the city center, where it is more convenient for customers.
Finance:
With sufficient finance, the firm would be able to avoid cash flow problems. The firm will need start-up capital to pay for equipment's needed as they set up the store. Working capital is also needed to pay for day-to-day operations and maintain liquidity.
Management:
The business will need a professional manager in order to make strategic decisions that are effective and efficient, motivate workers, and keep records.