A-Level AQA Business Revision Unit 1(Part 1) :Enterprise
Starting a business is difficult. 80% of businesses fail in the first 5 years in the UK. There are vital parts of a business and are needed for the firm to get up and running. In an order to start a business, an entrepeneur must :
- Raise finance - Have a skilled workforce - Choose the right legal structure - Understand the market - Conduct market research - Develop a business plan
- Have a USP - Generate & protect and idea
- Have enterprise - Locate the business
Starting a business can be difficult because the factors in red are difficult to have/find/obtain. This can be a huge setback for the entrepeneur
