Developing Business Plans

Question 0

Business Objectives

Answer 0

Specific targets that a business wants to achieve within a set period of time

Question 1

Business Plan

Answer 1

A document that describes how an entrepreneur proposes to set up a new business. It includes nature of the product/service, objectives, ownership, research findings, functional activities and financial forecasts

Question 2

Small Business Advisor

Answer 2

A person with a specialism who can offer support and information to a new enterprise

Question 3

Government Incentives

Answer 3

Government policies aimed at influencing the behaviour of organisations eg. grants to locate in a certain area or tax breaks to encourage R&D spending

Question 4

Government grant

Answer 4

A sum of money given to a business for a specific purpose/project which does not have to be repaid

Question 5

Government agencies

Answer 5

Publicly funded organisations who support entrepreneurs and enterprising behaviour by offering advice, information or access to grants

Question 6

Enterprise Zone

Answer 6

Area (usually with high unemployment levels) where businesses can attract grants and incentives if they locate there