Business Revision

Which of the following business condition is controllable?

• Economics

• Politics

• Weather

• Training

Colleges and libraries can also give free advice

• Yes

• No

How can you fund a new business? Click all that apply

• Crowdfunding

• Grants

• Bank Loans

• Demon Investor

Where can you get reliable free advice for your business? Click all that apply

• Banks

• Citizen advice

• Charities

• Your competitor

The following are the main types of risks in business? Click all that apply

• Competitive risk

• Economic risk

• Program risk

• Prioritisation risk

When setting up a new business you should do all of the following

• Analyse the market

• Do a competitor analysis

• Weigh up the risks

• Ignore free advice

A risk mitigation plan includes the following

• Identify risks

• Act quickly

• Record events

• Get a strategy

• Speak to a friend

How do you justify a new business idea? Click all that apply

• Analyse the market

• Solve a problem for the customer

• Understand the scope and impact of your business

• Go with your gut ignoring everything else

When setting up a business should the impact on the environment be a concern?

• Yes

• No

How do you identify a good business idea? Click all that apply

• Find opportunities in your local community

• Draw on your personal experience

• Research get rich quick schemes