START BUSINESS Meaning and
Definition
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"Start business" refers to the act of establishing or launching a new venture with the intention to make a profit. It involves the process of initiating and setting up a commercial enterprise or organization, typically driven by an individual or a group of individuals known as entrepreneurs. Starting a business entails a sequence of steps that vary depending on the nature and scale of the proposed enterprise.
The process may involve conducting market research, identifying a target audience, formulating a business plan, securing financing or investment, obtaining necessary licenses and permits, establishing legal entities, acquiring essential resources such as premises, equipment, and technology, recruiting and hiring personnel, creating products or services, implementing marketing and promotional strategies, and commencing operations.
Starting a business often requires the entrepreneur to bear risks associated with uncertainties in market demand, competition, economic conditions, and numerous operational challenges. Successful business startups typically exhibit qualities such as innovation, strategic vision, adaptability, strong leadership, sound decision-making, financial prudence, and effective marketing tactics.
For many individuals, starting a business represents an opportunity to pursue their own ideas, achieve financial independence, create employment opportunities, contribute to economic growth, and fulfill their entrepreneurial aspirations. It serves as a crucial foundation for driving economic development, fostering innovation, and enhancing the overall socio-economic fabric of a region or country.
Etymology of START BUSINESS
The word "start business" does not have a specific etymology. However, we can examine the origins of each individual word.
1. Start: The word "start" has Middle English and Old English roots. It comes from the Old English word "styrtan", which means "to leap up, jump up, or arise". Over time, the meaning extended to "beginning an activity or process".
2. Business: The word "business" has its origins in Middle English and Old English as well. It comes from the Old English word "bisignes" or "bisig", which means "anxiety" or "occupation". It further developed to mean "task" or "purpose".
When these two words, "start" and "business", are combined, "start business" refers to the act of commencing or initiating an activity, trade, or occupation with a specific task or purpose in mind.
