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Richard Branson

How to start a business with $7

20 Jan, 2014

Branson answers a question for Entrepreneur from a Ugandan person looking to start a business with 18,000 Ugandan shillings, around $7:

If you’re looking to set up a stall to sell goods, the market research may be as straightforward as asking people in your community what they’d like to buy but are having trouble finding in local shops and stalls. As you prepare for launch day, you must ensure that you’re going to be nimble enough to cope with unforeseen problems and to take advantage of any valuable opportunities that arise. A stall or cart offers some advantages in terms of flexibility, because if you notice that a particular type of product is doing especially well, you can more easily transfer your energy and funds to developing that area of the business than a large company ever could. This may mean modifying your original idea.