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.


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