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Starting a business
Business Studies Unit 1
Revision Guide
By Lauren…read more

Slide 2

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Transforming Resources into goods and services
Generating and Protecting Business Ideas
Example Exam Questions
Developing Business Plans
Conducting Start up market research
Understanding Markets
Example Exam Questions
Choosing the right legal structure
Raising Finance
Locating the business
Employing People
Example Exam Questions…read more

Slide 3

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Chapter 1: Enterprise
Each section will have a checklist based on the chapter of the AQA Business Studies AS
Distinguish between enterprise and entrepreneurs
Explain the main motives for becoming an entrepreneur (including
notions of risk, reward and opportunity cost)
Understand the important role of small businesses in the UK economy
Describe the help entrepreneurs can get from the government…read more

Slide 4

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Enterprise and Entrepreneurs
Enterprise Definition: The ability to handle
uncertainty and deal effectively with change.
Land Labour
Entrepreneur Definition: Someone who starts there
own business, they are responsible for the risks involved, they
must also manage the four factors of production Capital Enterprise
· Land
· Labour
· Capital
· Enterprise
Factors of production…read more

Slide 5

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Motives for becoming an Entrepreneur
· I can pursue my
· I am fed up with working in a
business hierarchy structure
· I can exploit a gap in the
market with my new ideas
· I have more control over my
working life
· I want to be my own boss…read more

Slide 6

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Risks and Rewards for starting your
own business
· Period of time where you are earning little or nothing
· Investing personal assets
· Stigma of failure
· Stress on personal relationships
· Satisfaction of building a business
· Freedom of decision making
· Flexibility…read more

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