Thrift and business skill

A thrift regime means getting much product while using little raw material, material, fuel, electricity and working time. It starts with simple things: switching off the light when it is not needed, not running a machine for nothing, checking and repairing equipment on time, recycling shavings and offcuts. Labour productivity is the amount of product made in a unit of time: productivity = number of products : working time; it depends on new equipment, good organisation, discipline and the worker’s skill. Entrepreneurship is activity based on independent initiative and responsibility and aimed at profit; an entrepreneur considers market demand and supply, looks for ways to cut expenses and is ready for an uncertain result. In attracting the buyer the novelty, quality, price and appearance of the goods, conformity with standards, after-sales service and advertising are taken into account. Small business and private entrepreneurship create jobs, raise people’s incomes and are supported by the state; because laws and benefits change, the current rules should be checked in an official source.