Business UNIT 1 - Starting a business.

Give two reasons why someone might start up a business.
Financial reasons - making a good income Personal reasons - independence of being your own boss Ethical reasons - helping others such as charity.
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What is a social enterprise?
Social enterprises are defined as: "Businesses with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or community, rather than being driven by the need to maximise profit for shareholders and ow
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What is meant by a calculated risk?
A calculated risk is a risk that has both a good chance of success and weighs up the consequences of failure.
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List 5 qualities that an entrepreneur is likely to have
The ability to think ahead - identify opportunities for the future. Initiative - to seek out or seize business opportunities Drive and determination - to turn ideas into practice Decisiveness - so they dont shy away from making tough decisions Ne
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Other cards in this set

Card 2

Front

What is a social enterprise?

Back

Social enterprises are defined as: "Businesses with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or community, rather than being driven by the need to maximise profit for shareholders and ow

Card 3

Front

What is meant by a calculated risk?

Back

Preview of the front of card 3

Card 4

Front

List 5 qualities that an entrepreneur is likely to have

Back

Preview of the front of card 4

Card 5

Front

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Back

Preview of the front of card 5

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