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.
    • 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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