Which business resources are required for starting a new venture?

Which business resources are required for starting a new venture?

Before starting a business there is lot many things which we need to manage and maintain but the most important thing is resources and their sources because all the resources contribute in the production and productivity of the business equally so those business resources which are must and needed to be maintained are:

1)   Financial resources: Financial resource refers to the things which one have to buy while starting a new venture and the business owner have to manage the expenses on it.

  • Bank
  • Financial institutions
  • External agency
  • Private money lenders
  • Friends, relatives, Family
  • Government (please refer government schemes)

2)   Human resource: Administrative Staff are calculated under the Human Resource required for the company and it is must to manage people and all the things and resources they need to deal while working with you.

  • Clerical staff
  • Labor class
  • Technical staff
  • Supervisor
  • Manager
  • The only  way is recruitment to mobilize human resources
  • Recruitment can be done only in two  ways
  • Internal recruitment
  • External recruitment
  • There are some external agency also who deal with recruitment process

3)  Physical resources: Land is the mainly physical resource firstly required to start anew venture after that all these are required to maintain.

  • Machine
  • Technology
  • Government agency
  • Either purchase or lease

4) Knowledge resources: The most important this knowledge about all such things to manage your business and to get beat output.

  • About technology
  • Market
  • Laws
  • Can be procuring from seminars, workshops that are organized by government, via MSME, external agency or any other institutions.

Need any help?

If you require any business related help or other guidance than read our business blog on  www.cutevamp.com

Or contact us on: +919587406557 (India)

Email:  Cutevamp911@gmail.com