A Falmouth-based circuit board manufacturer will create five new jobs over the next year thanks in part to European funding. Sellectronics, founded in 2008, has received a £50,000 match-funded grant from the Business Investment for Growth (BIG) programme, which has been spent on new equipment worth around £200,000. Read more…
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Makeup of a business opportunity
A business opportunity consists of four integrated elements all of which are to be present within the same timeframe (window of opportunity) and most often within the same domain or geographical location, before it can be claimed as a business opportunity. These four elements are:
- A need
- The means to fulfill the need
- A method to apply the means to fulfill the need and;
- A method to benefit
With anyone of the elements missing, a business opportunity may be developed, by finding the missing element. The more unique the combination of the elements, the more unique the business opportunity. The more control an institution (or individual) has over the elements, the better they are positioned to exploit the opportunity and become a niche market leader.
Business opportunity. (2011, December 26). In Wikipedia, The Free Encyclopedia. Retrieved 10:05, January 3, 2012, from http://en.wikipedia.org/w/index.php?title=Business_opportunity&oldid=467761064
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