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Creating a Business & capitalism Doubled spaced that equals five pages

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Types of capitalism include mercantilism, free-market economy, social-market economy, state capitalism where the state is in power of production and distribution of goods and services for profit-making purposes, corporate capitalism and mixed economy. There are other minor variants of capitalism including crony capitalism. Crony capitalism describes a type of economy in which the success of a business lies in the relationship between business owners and governmental officials. Crony capitalism results from favoritism in the distribution of governmental services such as legal permits and other forms of state interventionism. Crony capitalism typically benefits individuals other than the entire business industry.Capitalism is paramount and influential in the economic systems. It is usually characterized by an accumulation of capital, competitive markets and an increase in wage labor. Other benefits of capitalism include efficient control of the production process, increased variety availability due to non-governmental regulations and an improved quality of goods and services. Due to capitalism, there is a possibility that consumer’s choice is emphasized as production and distribution sectors experience a reduction in production cost as a result of efficient control (Pettinger, 2012). These factors can positively influence the economic state of the country.As a business owner, utilizing capitalism to make the earth a better place for other people is significant. The correct business plans and operations can benefit many people. Immediately after graduating from the university, I borrowed funds from my parents and added some dollars I had been saving to open up my beauty parlor business. The beauty salon provides hair services to both men and women; however, the majority of the clients are women. My staff and I provide coloring, haircuts, color-touch ups, frosting, washing, styling, eyebrow shaping, and perms. It is a walk-in beauty parlor and appointments are not needed; however, some customers always make bookings and inform us when they are coming so that we get everything that they need ready before their arrival. The salon is a simple business and does not accept credit cards. The parlor’s space allows for four helmet dryers, four salon stations and a washing area. It operates from Wednesday to Sunday from 9:00 am to 4:00 pm; however, on Saturday and Sunday it closes at 8:00 pm since there
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