When creating a new business,the first step is to
A) write a business case or plan.
B) acquire financing needed to make the business successful.
C) investigate all existing opportunities.
D) identify a consumer or business need that is not presently being met.

Question

Quizplus · Accepted Answer

Identifying a need that is not being fulfilled is the first step in creating a new business. This will help to ensure that there is a market for the business and that it has the potential to be successful. Without a need, there is no demand and no business. Writing a business plan and acquiring financing come later in the process. Investigating existing opportunities may be useful, but it is not the first step.

When Creating a New Business,the First Step Is to