5 Running the business: some choices
We will now look at some of the options and choices businesses face in how they operate.
In this activity formulate your first thoughts, you can then see if your views change after reading the rest of the section.
Activity 4
Timing: Allow about 15 minutes
Consider these three options and how they might apply to a small business, what are the benefits and concerns of:
- do it yourself (in-house)
- buy the service from someone else (outsource)
- employ staff part or full time
- use external people such as associates or sub-contractors
- buy equipment outright
- lease equipment.
Now for each of these six options give your immediate reaction to the benefits and concerns.
| Option | Benefits | Concerns |
| Do it yourself | ||
| Outsource | ||
| Employ staff | ||
| Use external people | ||
| Buy equipment | ||
| Lease equipment |
Interactive feature not available in single page view (see it in standard view).
We will not give our comments here, rather we will discuss some of the decisions that could be made by our five businesses and then let you see if your views have changed.
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4 Taking money out of a business