1.5 - Entrepreneurship 0.0 / 5 ? Business StudiesEntrepreneurshipA2/A-levelEdexcel Created by: EiliyaJCreated on: 03-03-22 22:58 They start a business regardless of risks and hire others to work for them. Entrepreneur 1 of 20 These are financial loss, lack of security, business failure. Barriers of entreprenuership 2 of 20 An entrepreneur's motive as they are their own boss. Independence 3 of 20 Profits and Income are the main two financial motives 4 of 20 A key quality of an entrepreneur as it is hard to predict the market Risk taker 5 of 20 A quality of an entrepreneur apart from their skillset Lucky 6 of 20 This can lead to difficulty for business survival Inappropriate financing 7 of 20 These are profit, market share, sales, financial security Financial objectives 8 of 20 These are Challenge, Control, Business survival, Social objectives non-Financial objectives 9 of 20 They have private shares and limited liability LTD 10 of 20 They have public shares and limited liability PLC 11 of 20 Only one owner and unlimited liability Sole trader 12 of 20 2-20 owners and unlimited liability Partnership 13 of 20 The ability to sell under another brand's name Franchise 14 of 20 The brand giving permission for a franchise Franchisor 15 of 20 The brand paying to sell under a franchisor Franchisee 16 of 20 When a business is insolvent, the owner is responsible for all debts Unlimited liability 17 of 20 When a business is insolvent, the owner is not responsible for all debts Limited liability 18 of 20 These are the benefits of the option/ decision you didn't pick Opportunity cost 19 of 20 When more of an option means less of the other Trade-Off 20 of 20
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