Answer to Question #188504 in Economics for Beauty Magadlela

Question

Kate wants to start a small catering business in her area . she has already established that she has the necessary skills and abilities as well as the required resources to start the new venture .

Which is the next step in the entrepreneurial process that she needs to follow?

1 Kate needs to complile a business plan .

2 Kate needs to assess the opportunity in a realistic and objective way

3 Kate needs to conduct a feasibility study

4 Kate needs to launch and manage the new business

Answer 1

If she has already established that she has the necessary skills and abilities as well as the required resources to start the new venture, then the next step in the entrepreneurial process that she needs to follow is to assess the opportunity in a realistic and objective way.

So, the correct answer is 2.