business resources

• Essential resources for every business


  • Land
  • Labour
  • Capital
  • Enterprise
• Land

  The land on which to place the business premises, houses, roads and farms. It can also include the surface of the land, the oceans and all the raw materials which are contained above or below the ground e.g. oil, coal, gas, trees, water, fish, minerals and metals.
• Labour


  The human resource of the business, the workers employed to manufacture the product or provide the service. The labour used may be physical labour or mental labour, depending on the nature of the firm's final product.
• Capital


  The money to set up and maintain the business. It also refers to the items which were bought with the original investment, such as premises and machinery.
• Enterprise


  Contributed by people called entrepreneurs. They are people with successful business ideas plus the drive, energy and vision to make their idea work. It is the role of the entrepreneur to organise the factors of production land, labour and capital in the right proportions to run the business successfully.