Starting An Enterprise Flashcards
1
Q
Why are businesses set up?
A
Money Pride Be your own boss Help people Employment
2
Q
What are the different types of businesses?
A
Sole trader Partnership Ltd (private limited company) Plc (public limited company) Franchise Social enterprise
3
Q
Where do businesses ideas come from
A
They try and think of a unique product
Try and make money out of a popular idea
4
Q
How do businesses look for gaps in the market?
A
Find flaws in other businesses and see how you can improve from that.
5
Q
What is a franchise?
A
An already made company
6
Q
Advantages of setting up a franchise?
A
People already known the business so you could make more money. Also employment is easier because people already know the business.
7
Q
Disadvantages of a franchise?
A
A disadvantage is that your not make a name for yourself. Also it costs a lot of money to start the shop up.
