From my standpoint, I think that between the two localities the one that has 30 small businesses has

improved economic activities because if there are more business venture in a community, the more job
opportunities will be applicable for the people. Then, if there are many businesses in a locality they will
develop new markets and introduces innovation. Also, if an owner of a business will enhance and
promote a new product they will generate new sources of materials, for example, native materials that
can help improve the quality of life of indigenous people. Besides, building more business in a
community could provide social benefits to the people because entrepreneurs pay for permits, licenses,
and taxes for every product or service sold in the market. And, the taxes being collected goes to the
government projects such as road widening and street light post. Similar to a local community who have
5 small business it can only provide fewer opportunities and benefits to the people. Generally speaking,
those are the reasons why I wanted to live in a locality that has a bigger number of businesses present
because it seems to me that it will have a big impact on the economic rating of a community and it will
develop the people’s living standards.

From my standpoint, I believe that between the two localities, the one that has 30 small businesses has
improved financial exercises, in such a case that if there are more business venture in a community, the
more open positions will be appropriate for the people. At that point, if there are numerous business in
a locality they will develop new business sectors and presents development. Additionally, if a proprietor
of a business will upgrade and advance another item they will create new wellsprings of materials, for
instance, local materials that can help improve the personal satisfaction of native individuals.
Constructing more business locally could give social advantages to individuals since business visionaries
pay for grants, licenses, and assessments for each item or administration sold in the market.
Furthermore, the charges being gathered goes to the public authority projects, for example, street
extending and streetlamp post. Just like a nearby local area who have 5 small businesses it can only give
less freedoms and advantages to individuals. In general, those are the reasons why I needed to live in an
area that has a greater number of business present since I can't help thinking that it will immensely
affect the financial rating of a local area and it will build up individuals' expectations for everyday
comforts.
If you're an aspiring entrepreneur, you need to truly investigate yourself prior to leaving that standard
check. The great and the awful news is that as a entrepreneur, you will not have a chief accused of
coordinating your endeavors or friends encouraging you to execute, and your new group will rush to
disclose to you just what you need to hear. In this way the weight is on you to profit by your qualities,
discover prime supporters and colleagues to fill the holes and discover coaches and counsels you trust.

If you know your strengths and what you enjoy, you are more likely to tackle a business problem that is
best suited to your skills and interests and is less sensitive to your shortcomings. Too many people fail
working on someone else’s problem. You won’t be happy in the wrong business. You need to surround
yourself with the best people to complement your strengths and fill your gaps, so together you will be
able to see the real opportunity, set the right objectives and execute to success. Many entrepreneurs fail
because they seek out the wrong team. As an entrepreneur, you will have no place and no one to hide
behind. Knowledge of yourself is the key to confidence, and confidence builds leadership. Building a new
business requires good leadership to develop the market, attract customers, motivate the team and
conquer the unknowns. Capitalize on your strengths, and accept input from advisors and the team on
decisions outside your range. Everyone will see you as a better listener and a stronger leader who is not
autocratic, and knows how to tackle the many unknowns of a new business. Every entrepreneur and
every business needs continuous improvement. Understanding yourself will help you set the right
priorities for self-improvement, including working on your health, balancing family life, changing bad
habits and joining business peer groups.,If these observations make no sense to you, it may not yet be
the time for you to start down the path of an entrepreneurial lifestyle. Many people are happier to stick
with the familiar, even if not totally satisfied and happy, rather than deal with the stress and likely
failures of starting their own businesses.

 Know what motivates you

You want to spend your time on—and earn your money from—something you care
about. If social justice gets you moving, you’d probably be happiest at the helm of a
relevant enterprise. If your dream involves speaking to crowds, you might drag your feet
if you try to found a one-on-one consulting business. Entrepreneurship requires a lot of
energy, so you want to design a business that will meet your needs and feeds your
passion. Taking some time to reflect on what motivates you can help you create your
best-fit business.

2: Know your strengths

Having a good sense of your strengths can tip you off to the type of work that’s best
suited to you. If you’re great at building relationships with people, let that permeate your
business, whether through direct client work or B2B marketing. If you’re gifted at
working with your hands, you can use that ability even if you’re in a seemingly unrelated
field—how about sending beautifully crafted thank-you cards to valued customers?
Incorporate your strengths into your marketing and your message. Once you have a
good sense of how and where you bring the most value, you can play up those skills to
make your business stand out!

3: Know your challenges

Honest self-examination reveals ways we can grow, and also points to our limits. Most
businesses require skills beyond what we’re immediately able to provide. It’s in our best
interest to develop some of these skills—especially when they represent areas we can
grow as a person as well as an entrepreneur. Other times, it’s unrealistic, or simply not
worth the time and effort. Knowing our challenges can help in making smart hiring and
partnership decisions, and in structuring our business intelligently.