p.2 Flashcards
Enterpise definition
spotting an opportunity to provide a product or service
Business Plan includes (6)
Business idea
people who are running
market research
competitors
finance
objective of business
target market
Analysis one reason of sole trader
The owner is able to keep all the profit this could lead the the owner re investing it into the company
Analyze partnership over sole trader
partnerships allow partners to share liability based on their agreed contributions in the partnership agreement
Disadvantage of business plan
time and effort
analyze one reason of making a business plan
understand your competitors this would lead to you being able to have a new usp
3 risks of entrepreneur
financial risk
legal
2 draw backs of partnerships
profit has to be shared
unlimited liability - person possession loss
advantages of entprise
fist one to be there usp
Disadvantages of llp
registered which cost lots of money
what features does an entrepreneur have ______?
sees opportunity
hard working
creative
never give up
