Business Ideas, Business Opportunities and Market Assessment

These notes from Trinity College Nabbingo explore the business environment and how entrepreneurs identify possible business activities. They explain sources of business ideas, including personal skills, customer needs, available resources, observation and innovation. The document outlines indicators of a viable opportunity, such as market availability, access to production inputs, community acceptance, legality and expected profits. It also introduces market assessment, covering target customers, product characteristics, competition and market trends. Examples illustrate possible small businesses, while the final section explains how market information supports decisions about whether to start a business.