Reliable existing data References

Secondary Sources Of
Business Ideas and
Opportunities
 Information obtained from annual • Published information from the library, internet
report of companies and paid database services which provide
information on market growth overall industry
perspective and customer profiles.

Mass media and electronic media

 Mass media and electronic media advertisement

and information in the newspaper, magazines and

the internets are examples of secondary sources.

 Process of Recognizing, Analyzing
and Choosing Business Opportunity
Recognizing customer Demographics such as population
needs and wants structure, income and taste
Is a study on the
characteristic of people in
a population
Needs and wants are based
Sensitive in identifying the needs and on the structure, income
wants of customers in order to and taste of the
recognize business opportunities. population.
Data on import and
export
The continuous
increase in the
value and
quantity of
imported and
Mass media and electronic
Development projects
by public and private
sectors
Technological breakthrough
Can create new
markets and
opportunities for
Analyzing or
scanning the
environment
Local resources
That is untapped
and has the
potential to be
investment
opportunities.
New government
policies and regulations.
Industrial linkages
This will develop an
interaction or linkage
among industries of
the same sector or of
different sectors
media
Advertisements and
information in daily
newspaper, magazines,
and the internet can be
sources for generating
business ideas.