The new edition of this compact text continues to serve as an essential guide to students and entrepreneurs for establishing a new venture. The book shows the reader, in an easy to understand style, how to mobilize resources, how to tap market opportunities, how to conduct feasibility studies and how to promote new ventures. Besides, the book discusses in detail the various techniques of product and process development and the method of product pricing. The book is intended primarily as a text for undergraduate students of commerce and undergraduate and postgraduate students of management. It would equally be useful for students pursuing diploma courses in entrepreneurial development. In addition, the book should prove extremely valuable and handy to anyone who wishes to launch his career as an entrepreneur. New to This Edition One exclusive chapter (Chapter 10) on Business Location and its importance.New sections added in Chapter 1.Salient FeaturesProvides study questions at the end of each chapter.Gives in, Appendices, detailed information on venture capital funds, offices of Small Industries Services Institute (SISI) as well as patent offices, trademark offices, etc., in various states.Acquaints the reader with global organizations, e.g. World Trade Organization (WTO) and World Intellectual Property Organization (WIPO).