228k views
4 votes
Miriam Njunge wants to start a small business importing some products from her native Kenya. Before she starts, some good advice to Miriam would be:

a) talk to others who have been or are in the import business.
b) get a loan from a bank right away.
c) find a business to buy as soon as possible.
d) incorporate the business immediately.

1 Answer

4 votes

Final answer:

When starting a small business importing products, it is advisable to talk to others in the import business for guidance. Getting a loan and incorporating the business may not be necessary right away, and finding a business to buy is not suitable.

Step-by-step explanation:

When starting a small business, it is important to consider several factors. For Miriam, who wants to import products from Kenya, talking to others who have been or are in the import business would be good advice (option a). These individuals can provide valuable insights and guidance based on their own experiences. This can help Miriam navigate the challenges and potential pitfalls associated with importing products.

Getting a loan from a bank right away (option b) might not be the best approach. Before taking on debt, Miriam should thoroughly evaluate the market demand for her products and develop a solid business plan. This will help her determine if a loan is necessary and how much is needed.

Finding a business to buy as soon as possible (option c) may not be appropriate in this case since Miriam wants to start her own business. Incorporating the business immediately (option d) may also not be necessary at the initial stage. It is important for Miriam to first understand the legal and financial implications of incorporation and make an informed decision based on her specific circumstances.

User Pastillman
by
8.2k points