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MOTIVES: MONEY, OWN BOSS, IN CHARGE OF HOURS, HOBBY

DOWNSIDES: EXPENSIVE TO START-UP, HARD WORK AT BEGINNING, EASY TO FAIL

RISKS: LOOSE MONEY AND MORE, STRESSFUL

REWARD; CAN EARN A LOT, OWN HOURS, OWN BOSS



SOURCES OF BUSINESS IDEAS: WEBSITES ( BUSINESS LINKS, BUSINESS ANGELS ), BANKS,
GOVERNMENT PROGRAMMES



INPUTS…

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MANAGEMENT TEAM

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SOURCES OF INFORMATION AND GUIDANCE-

SMALL BUSINESS ADVISORS, ACCOUNTANTS, BANK MANAGERS, GOVERNMENT AGENCIES



PRIMARY & SECONDARY DATA-

PRIMARY- DATA THAT IS COLLECTED FIRST HAND EG QUESTIONNAIRES

STRENGTHS- RELIABLE, DATA IS UP TO DATE, DATA IS TAKEN DIRECTLY FROM THE POPULATION

WEAKNESSES- TIME CONSUMING, COSTLY

SECONDARY- SECOND HAND DATA EG OLD…

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DEFINING LEGAL STRUCTURES-

SOUL TRADER- OWN THEIR OWN BUSINESS FUNDED THROUGH PERSONAL FINANCE OR
BORROWING FROM LENDERS EG BANKS

A PARTNERSHIP- BUSINESS FUNDED THROUGH PERSONAL FINANCE OR BORROWING
FROM LENDERS EG BANKS

A (LTD) LIMITED COMPANY- OWNED BY SHAREHOLDERS, FUNDED BY SHARE HOLDERS OR
LENDERS EG BANKS

A PUBLIC LIMITED…

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