business 1
- Created by: Hazzerr
- Created on: 23-04-19 11:05
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- How do you setup a business?
- Why start a business?
- To keep profit
- To make your own decisions
- To use new technology
- To pursue an interest/ hobby
- To help people
- To give people job opportunities
- To escape an uninteresting job
- To be your own boss
- To have a big business one day
- The difference between a product and a service is that you can touch a product, e.g a pen, you can touch a, however a service is something that isn't tangible like your windows being cleaned.
- Where is the best place to set up a business?
- Factors affecting location.
- Costs
- Type of business
- Proximity to market
- Competitors
- Availability of raw materials(supplies)
- Availability and cost of labour( work force)
- Transport links
- Technology
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- A customer is someone/business who buys something off a company or business. Whereas a supplier is someone who sells a supply of something, hence the name "supplier", or raw materials such as wood or metal.
- Factors affecting location.
- What is a business plan?
- A business plan states what a business is trying to achieve over the next couple of years and how it plans to do it.
- What is usually found in a business plan?
- An analysis of the financial position of the business.
- Details of business objectives.
- Pricing and expected sales.
- Info on how the business will compete with its rivals.
- Background info on founders and investors.
- Info about the the market and customers.
- Why are business plans such a good idea?
- Helps to set up a business successfully.
- Helps to raise finance.
- Gives clear objectives.
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- Why start a business?
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