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Financial record keeping
Entrepreneurs need to keep records of their business financial transactions.
Financial record keeping is simply keeping records of all the financial transactions of the business. For example, records of sales, bills, purchases and many more. Basically, an entrepreneur will be tracking all movements of money both in and out flows. Business owners should have basic knowledge on financial record keeping.

Diversification in business.
The business environment is changing everyday and it calls for business owners to diversify.
These changes could be political, economical,social, technological, environmental and legal.
These factors affect the way a business operates.
Diversification is the process of a business enlarging or varying it's range of products or field of operation. Thus, companies need to be innovative and creative by developing new goods and services.

Factors that make people to start a business.
Types
~ push factors: these are factors resulting from negative situations such as hunger, being a dropout, unsatisfied income, unemployment, unplanned retirement and many more.
~ pull factors
These are inner factors coming from an ambitious person . For example the desire to be your own boss, create employment, contribute to national development, earn extra income and many more.