Research on the problems of small scale business and the practical solutions to them. This will be an excellent research topic that your professor will definitely love alot because research are to solves societal problem.
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As a businessman one research that you must conduct he is the target audience that is the people who you are producing for you have to know what they need in order for you to know what to produce.As for me and a business man you really have to do the research properly but right now I can't think of anything of such businesses and moreover there are lots of business you can think off and also do