When starting a business the biggest factor that determines the success of your business is in fact money, and how much you have of it. The financial aspects are worked on the most on any business, because the whole purpose of the business is all around finance and how to deal with it. Let’s take into consideration the whole idea of starting a business is to increase your personal finances, so having said that it makes it a little bit easier to understand to why the financial aspect of a business is the biggest department working towards to success. Enterprising individuals with time, money and ideas can convert the three production factors of land, capital and labor into a profitable enterprise. In economic terms, land is not just real estate but also includes natural resources like minerals, plants and animals as well. Capital is not money only but a resource that produces wealth. Labor refers to human endeavors that produce wealth. Land, capital and labor create value, but are not the sole contributors to wealth. The fourth factor of production, missed by many, is business. It makes the connection between the three to create something that had not existed before. This insight and creativity makes the other three factors productive and turns an idea into a profitable reality.
