Explain 2 characteristics of successful entrepreneurs
any acceptable answer
What is business plan ?
A detailed written document outlining the purpose and aims of a business
State a purpose of business plan
Use to persuade lenders or investors to finance a business proposal
List three contents in a business plan
financial forecast, objectives, market
State 2 reasons why government support business start-ups
Job creation, bring new ideas
How government support business start-ups?
low-interest loans
State 3 ways to measure business size
capital employed, number of employee, market share
State 2 reason why owners may want to expand their business
increase profit, increase in market share
What is capital employed
the value of all long-term finance invested in a business
