The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. This chart is from 2017 statistics.Small business vendors at a public market
A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liabilitycompany. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. (Full article...)
The Austrian school of economics is a school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest. Austrian-school theorists hold that economic theory should be exclusively derived from basic axioms of human action, known as praxeology, rather than primarily from statistical analysis. In more conventional terms, they have developed their theory by deducing conclusions from fundamental principles of human action rather than relying primarily on statistical analysis.
In commerce, a hypermarket is a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. In theory, hypermarkets allow customers to satisfy all their routine shopping needs in one trip.
Although oil revenues contributed 2/3 of state revenues, oil only contributes about 9% to the GDP. Nigeria produces about 2.7% of the world's oil supply. The largely subsistence agricultural sector has not kept up with the country's rapid population growth. It was once a large net exporter of food, but currently imports some of its food products. Mechanization has led to a manufacturing resurgence and food export and there was consequently a move towards food sufficiency. (Full article...)
"In a plant where required numbers actually dictate production, I like to point out that the slower but consistent tortoise causes less waste and is much more desirable than the speedy hare who races ahead and then stops occasionally to doze. The Toyota production system can be realized only when all the workers become tortoises.
High-performance machines were in demand for a long time before the term "high performance" was thoroughly examined. When we say high performance, we may mean high-precision finishing, low energy consumption, or even high-precision finishing, low energy consumption, or even trouble-free machines. Each can be correct. However, a frequent mistake is to regard high-productivity and high-speed machines as being the same.
If we can raise the speed without lowering the operable rate or shortening the life of the equipment, if a higher speed will not change the manpower requirements or produce more products than we can sell - then we can say high speed means high productivity.
Speed is meaningless without continuity. Just remember the tortoise and the hare. Moreover, we cannot fail to notice that machines not designed for endurance at high speeds will have shortened lifespans if we speed them up."
1930 - Francis Newall, 2nd Baron Newall, which served as a soldier, staff officer, diplomat, politician, legislator, businessman, and representative of the Crown in a variety of capacities, was born on this day.
Image 2Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 4Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)
Image 5In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)
Image 9"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844 (from Corporation)
Image 11Small business vendors at a public market (from Business)
Image 12Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 13Time required to start a business in 2017 (from Business)
...that, according to historical legend, Laissez-faire stems from a meeting in about 1681 between the powerful French finance minister Jean-Baptiste Colbert and a group of French businessmen led by a certain M. Le Gendre?
...that Antoine Augustin Cournot derived the first formula for the rule of supply and demand as a function of price and in fact was the first to draw supply and demand curves on a graph in his Researches on the Mathematical Principles of the Theory of Wealth?
...that the Toyota Production System (TPS) developed by Toyota, that comprises its management philosophy and practices, organizes manufacturing and logistics for the automobile manufacturer, including interaction with suppliers and customers?
