1.3 Putting a business idea into practice L1

Financial aims and objectives typically relate to money. When a business starts trading, often its aim is

Most businesses aim to maximise profit, some businesses aim to increase the volume of

Other businesses wish to increase the percentage of sales held by a business in a particular market. This is called increasing their

Some entrepreneurs begin a business to provide them with personal wealth and

Aims and objectives that relate to goals which are not money related are what types?

A social enterprise is an organisation that raises what for good causes by using traditional business techniques

Break-even is a chart is a visual way of showing where total revenue meets

Any change in the selling price or total costs will have an effect on the break-even point, for example if the selling price increases fewer products will need to be

Variable costs change with the level of

Net cash-flow is the difference between cash inflows and cash