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Amirah Chhadat B.S. Coursework




Business studies coursework.
INTRODUCTION


The idea for a business I have considered is a sweet shop. It will contain mostly sweets and some
chocolates and a few drinks. For a successful business I need to have a unique selling point which is going
to be: famous…

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Amirah Chhadat B.S. Coursework




I will open my business as a sole trader because then I would not have any quarrels that is possible to
have with a partner. I would also be able to make my own decisions and after paying all the bills and
wages, the profit would…

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RESEARCH
There are two types of research which will help me find out information from customers
themselves how to make a successful business.




PRIMARY RESEARCH SECONDARY RESEARCH



Primary research involves getting original data directly about the product and market. Primary
research data is data that did…

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The results are confidential. (no other business will have access to them)
The data can be obtained quite quickly (in online cases)
Can never be out of date like secondary research and more reliable(can't be bias but
secondary research could be)

The main disadvantages of primary…

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The general media

What are the advantages and disadvantages of using secondary data?

Firstly the disadvantages of primary research are the advantages of secondary
research e.g. it is: Easier to collect whereas primary research is hard to collect.

Secondary data sources should always be considered by…

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They are:

SOLE TRADER
A sole trader is a business that is owned and run by one person. The main reason to be a sole
trader is often independence. The main aim is usually survival and a modest profit. The owner
raises the finance him-or herself…

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partnership, but a written contract should be considered. In a partnership SLEEPING PARTNERS
may provide vitally needed money to help set up or expand the partnership.

A partnership requires:

Shared ownership
Shared decisions
Shared workload
Shared profit

ADVANTAGES OF A PARTNERSHIP:
As there is more than…

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-Each worker invest an equal amount of money


ADVANTAGES:

-Close ties with local people
-Well motivated work service
-Fosters good industrial relations



DISADVANTAGES:

-Expansion may be difficult-banks often reluctant to lend
-Possible internal disputes over decisions and financial rewards
-Often lack business knowledge

2. CONSUMERS' CO-OPERATIVES:…

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Franchisers charge a fee known as a royalty depending on the annual sales as well as the
initial payment.


PUBLIC LIMITED COMPANIES (PLC) AND PRIVATE LIMITED COMPANIES (LTD)


Private limited companies
Are usually medium sized companies. The shares are sold privately to family and friends and…

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I have only one competitor which is Somerfield.

The advantages of this shop are:

It is a franchise so better known.
It has been open for longer so people know the products well.


The disadvantages of this shop are:

It is a supermarket so they don't…

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