Bussines Planning Flashcards
1
Q
Bussiness aims are…
A
Bussiness aims are the overall goals of the bussines
2
Q
What are bussiness objectives
A
Business objectives are measurable targets to achieve bussiness aims
3
Q
What does a business plan help do
A
Attain finance (loan from bank)
Measure progress
4
Q
Reasons for a business plan
A
Achieve maximum profits
Loan from bank
Focused and organised
Helps to measure performance
5
Q
Problems of a business plan
A
Poor quality or inaccurate
Requires time and effort
Constant updating needed
6
Q
What is a sole trader?
A
Someone who runs a bussiness on their own.
7
Q
Advantages of being a sole trader
A
You keep all the profits to yourself
8
Q
Disadvantages of being a sole trader …
A
No continuity
Shortage of capital
Unlimited liability
