Discussion
Arrange in correct sequence the steps to be followed for self employment :
I. Draft a business plan
II. Analysis the business
III. Personal evaluation
IV. Make it legal
V. Set up shop
VI. Get financed
VII. Trial and Error
Codes :
Answer: B
The key gives III, II, IV, I, VI, V, VII.
The steps start with personal evaluation, then analysis of the business idea, making it legal, drafting the business plan, getting finance, setting up the shop, and trial and error to improve it.
The other options start with analysis or the plan before the person has judged his or her own fitness, or set up the shop before getting finance.
Legal formalities, such as registration and licences, come before finance because lenders usually ask for them.
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