Starting a business
everythijng you need to know :)
- Created by: charxbw
- Created on: 11-11-14 18:11
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- Starting a business...
- finding a gap in the market.
- business opportunity which is either completely new or adds to an existing product/ service.
- Of course it is hard to find a completely new idea.
- market mapping.
- A way to find a gap in the market.
- Finding business oppurtunities that aren't currently being persued.
- A business is an organisation set up to provide goods or a service to customers, this is in return of money.
- Social enterprise.
- entrepreneurs who want to make more than a profit, such as the belief that they are doing something fo the community or society.
- An example of a social enterprise is Jamie Oliver's fifteen restaurant.
- Entrepreneur.
- A person who sets up a business or businesses, taking on financial risks in the hope of profit.
- Franchises.
- A franchise is where a large company allows a smaller business to use their name.
- franchisee is someone who invests into the business.
- franchisor is the owner of the bigger business.
- franchisor provides training, materials and advice.
- franchisee must proved the money to start the business.
- Business plan.
- formal statement of a set of business goals.
- like a road map, provides directions so a business can plan its future.
- legal structure.
- first decision an entrepreneur will make.
- sole trader
- simplest form of business.
- usually an individual.
- partnership.
- 2 or more people.
- private limited company.
- incorporated (exist legally)
- Debt belongs to the company.
- finding a gap in the market.
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