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  • Location Selection for Starting a Business

    Selecting a proper location is one of the major factors to be considered when starting a business. When a location is selected it should observe the long-term perspective of the business. Location selection involves a big investment. Choosing the right place at initial stage will avoid costs of relocation in the future. Improper location selection also results in loss of sales and in turn low revenue and profit. In order to select the right site we need to consider some factors. Here below are some factors you should consider when selecting your business site.

    Customers: When you select a site consider the availability customers around your location. This is considered when you intend to sale products and services around the site. Check the closeness of the market around your business and select the site accordingly. If the plan is to sale products and services in other location or online you do not need to worry for this point.

    Competitors: Assess the availability of competitors around the site. If there are many competitors in one place it is a sign of the existence of huge market but there is also strong competition. If you get considerable amount of revenue you can proceed with the site which has strong competition. Nil competition means there is a high market or no market at all. So the existence and non-existence of competitors around your site will show you how much market is available.

    Transportation: When you select a business location take in to account the existence of public transportation service. Customers come and purchase products and services if there is convenient transportation service. Study also how much does it cost to reach your location. If transportation cost is too high people may prefer to go to other places. So consider the availability and cost of public transport while selecting a site.

    Supply and Inventory: When you start a business you sale products and services. These products and services require inputs to be processed or to be resold without any processing. When you select a business site consider the existence and cost of supply and inventory. Sometimes there might be supply and inventory in the location but if the cost is too high you need to be cost effective in selecting.

    Utilities: Utilities are the major input to run the day to day business activities. A site must have utilities in place to be considered as a business location. Check the existence of electric power, water, communication and transportation services while selecting a site.

    Workforce: The engine of any business is the workforce. The availability of workforce is unquestionable for the success of a business. You cannot run a business alone especially when it grows. You have to consider the existence and cost of workforce while selecting a business location.

    Physical Plants: You are not required to build your own plants at initial stage of starting a business due to various reasons. The reasons could be not all business requires a new plant, lack of finance or you are not interested to have your own plant. You need to check the cost of leasing a physical plant and consider it for your site selection.

    Future Expansion: A business started today will grow and expand in the future. The expansion requires additional space around the existing location. Consider the availability of space for future expansion when you select a business site.

    Parking Facilities: You sell products and services to your customers when they visit your site.  When customers visit your site they need parking services. Give careful consideration for the accessibility of parking facilities when you select a business location.

    Traffic Flow: You need to consider the general situation of the traffic flow around the location you are going to select. The traffic flow should be as convenient as possible to get the required number of customers. Customers may not frequently visit your site in overcrowded traffic flow areas.

    Points to Remember: you need to consider the cumulative effects of the above factors while selecting a business location.

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  • House approves second national human rights action plan

     The House of People's Representatives (HPR) on Tuesday (December 27) approved the second national human rights action plan. Tabled to the House by the Legal, Justice and Administrative Affairs Standing Committee, the amendment made its focus on civil, political, socio-economic, cultural, environmental and developmental rights. According to the Chairman of the Committee, Petros Woldesillasie, the newly included and amended human rights laws are believed to ensure the human and democratic rights of the people. 

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  • Ethiopian Takes Delivery of Ninth B787 Dubbed Great Wall of China

    Ethiopian Airlines, the largest airline in Africa, is pleased to announce that it has received its ninth 787 Dreamliner, dubbed "Great Wall of China", on 3 August 2014.

    Ethiopian, an aircraft technology leader in Africa, was the first outside Japan to receive the ultramodern aircraft back in August 2012 and currently operates the largest 787 fleet in the continent.

    "For almost seven decades, Ethiopian has been playing a pioneering role in African aviation by providing its esteemed customers the most technologically advanced aircraft the industry has to offer. The 787 is our core fleet on our fast expanding mid and long range routes. In China alone, we operate this aircraft in our daily flights to Beijing in combination with the 777, Shanghai and now to Hong Kong with the delivery of this 9th 787. In addition to China, Ethiopian 787 flies to India, Europe, the US, Brazil and Africa. Going forward, we will continue to expand our 787 destinations with the aim of providing to our esteemed customers the ultimate on-board comfort", said Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airlines Group.

    Ethiopian 787 offers unique features, which enhance passenger comfort such as greatly reduced noise, higher cabin humidity, biggest windows in the sky, lighting adaptable to the outside environment, wider aisles, more headroom and more seating flexibility.

    Ethiopian is a Pan-African global carrier with the youngest fleet in the continent with an average age of less than 7 years and currently serves 82 international destinations across 5 continents with over 200 daily departures.

    source: ethiopianairlines.com

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  • Advantages of Starting a Business at Home

    There are mainly three places where you can start your business. These are leased space, virtual office and your home. Leased site is where you rent a room or building to start your business. You use virtual office when doing online jobs. Online jobs do not require a certain location. You can do it anywhere if you have computer and internet connection. You can take your office anywhere. You will have flexible working place.

    You can use your home for starting a business if you have ample space. Most small businesses are started at home. This is because it involves less cost and is free of hassles.  There a number of advantages of starting a business at home. In the following section we are going to see the advantages of starting a business at home.  

    Friendly Environment: Your home is the place where you spent most of your time. You like staying at home because your home is more or less equipped with the necessary resources. You get comfort in doing a business at home as same is environmentally friendly.

    Family Time:  When starting your business at home you will get more time for your family. You will be in close contact with your kids as there is no distance between your home and work. By doing at home you will have the opportunity to take care those who need your help. You will also have enough time for your personal issues.

    Proximity: There is no place gap between your work and home. You are free to contact your family at any time due to short physical proximity. This gives you comfort for child care and elderly care. You will be easily accessible to your kids when working at home.

    Business Attire: You do not need to have formal office clothing. This saves money on clothing and dry cleaning. When you work at home you are free to wear anything you like.

    Cost Saving:You will also spend less for automotive maintenance and spare part. You also save cost for fuel, car wear and tear, road taxes and parking fee. This is because of there is no or less travel to work.

    Stress Free: When working at home you will have less stress. This is because your work does not require travel. If you do not travel then you will not have traffic stress and tiredness even before starting your work.

    Improved Health: You will have enhanced health by working at home. This is because you eliminate the stress and tiredness that arise due to long travel. You will get improved mental and physical health by working at home.

    Working Hours: When you start a business at your home you are free to work long hours. You can do even in the late evening. You will not have any travel problem in the evening. You just can go to your bed when you are tired.

    Proper Eating: When working at home you will eat at your home. You will have healthy eating. Eating proper diet will make you free from diseases. If you are free from diseases you will save your medical expenses.

    Watch Your Home: When starting a business at home you will have the opportunity to look at your home. You do not need to employee anybody to care your premise.

    Concentration: Your home is quieter than the downtown. In downtown there are many people working in one building or place. There will be huge chaos when working at crowded place. This will diminish your concentration and focus and in turn your productivity. By working at home you will have full concentration and focus. This will result in increased productivity.

    Less Investment: When starting a business at home you will require less investment than doing in a leased site. This is because you will not have office rent expense. In addition to this you may not require additional office furniture as you are going to use your personal items.

    Long Travel: There will not be any long travel when working at home. This will save your time and travel expense. You will not face any traffic problem.

    Work-Home Balance: Working at home gives you the benefits of work-life balance.  

    Increased Productivity: You will have increased productivity due to less travel and stress. You will not have tiredness due to long travel. You do not waste your time for traveling.

    Therefore, consider the above points as advantage when starting a business at your home.

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