A business is an organisation whose purpose is to produce goods and services to meet the needs of customers. A business might produce its own goods or buy them from a supplier and sell them to customers.
Things to think about:
- Is there a business opportunity?
- How will the business be financed?
- Whis is required to get the buesiness up and runnung?
- What legal aspects have to be considered?
- What products or services will be sold and to whom?
Supplier: A business who suppliess products to another business
Production: Using raw materials, labour and machinery to make products
Customer: A person or organisation that buys the product or service
Consumer: The person that uses the product