Business activites

Question 1

What is a business plan?

Answer 1

A document that outlines a companies goals and how to achieve them. They should include Planning, Price, Costs, Where, Target market, Budgets, staffing

Question 2

Name a problem with not having a business plan?

Answer 2

Not getting the finance e.g. Bank loan

You also may trade for the wrong price.

Question 3

Name 2 advantages with a business plan?

Answer 3

You can identify potential problems, and the bank are more likely to trust you and grant you your loans you may need.