Vanust has some qualitative characteristics
It is independently owned and operated.
For instance, Mia and John were in their early thirties and had previously each operated their own restaurants, where they enjoyed the sense of freedom and control that comes with being the decision maker, so they were keen to become business owners again.
It means that they can enjoy the sense of freedom to decide or suggest what the idea and decisions that they have is because they are the owners, and are not answerable to anyone else for the decision that they make. They can do that is because they had previously each operated their own restaurants, so they would have some knowledge about how to manage a small business.
The owners contribute most, if not all, of the operating capital.
For instance, by using their own funds, they are getting some help from their families, and utilizing finance leasing for kitchen equipment, restaurant tables and chairs, they were able to self-finance the full amount of capital needed to establish the business. Although a small overdraft had been set up with purchase of the business, trade credit was used in preference to the overdraft for any short-term cash flow issues. This was easily obtained because of the good relationship fostered by John and Mia with their supplies.
It is means that they can take the responsibility of funding the business idea such as for getting some help from their families, utilizing finance, even had some small overdraft because it is easily obtained because of the good relationship fostered by John and Mia with their supplies. So it can conclude that they can resolve or cover all the financial or funding to organize their small business.
The main decision-making function rest with the owners, who usually also work full time in the firm; thus, they are often referred to as owner-managers.
For instance, three floor staff, including Mia, were needed to wait on tables. Mia had completed one year of...