Give two reasons why someone might start a business

Do charities aim to make a profit

What is a social enterprise

What is meant by calculated risk

List 5 qualities that an entrepreneur is likely to have

Which two of these are problems if you area sole trader-long hours -unlimited liability- smelly fish

What does a sole trader gain and lose if it becomes a partnership

If you own part of a business and the business goes bankrupt , would you rather have limited or unlimited liability ? Why?

Limited companies have a separate legal identity, what does this mean ?

What is a franchise?

Describe two benefits of franchising for the franchisee

Describe two disadvantages of franchising for the franchisee

List seven types of business aim

Explain the difference between a business aim and a business objective

Describe one use of business objectives

Describe how a business could use numerical targets to assess its performance over a year

Describe how a business could determine whether its met its objectives for being ethical

What is a stakeholder

Name two internal stakeholders

Name two external stakeholders

Explain why the shareholders of a business and consumers might have different opinions about how successful a business is

Who are the most important stakeholders and why

Describe the purpose of a business plan

Describe the things that should be included in a business plan

Why isn't a good business plan a guarantee of success

Why might some firms choose to locate production closer to their raw materials than their customers?

List four other factors that need to be considered when choosing a business location