BTEC Business Level 3 Quiz

Research the financial feasibility of the enterprise. Determine amount of finance needed. Projected profit/loss over period of development and maturity. Break-even and margin of safety.

Develop a plan for the enterprise. Executive summary – vision, purpose, proposition summary, and rewards outline. Legal structure and operation – sole trader, business partnership, limited partnership, limited liability partnership, limited company.

Finance – requirements, potential sources of finance.

Summary of market(s) and competition – local, national and international business environment, market research, competitor analysis.

Measures of success – financial and non-financial key performance measures: financial – market share, sales turnover, profit and profit margins.

Measures of success – non-financial – performance analysis against business vision, mission, aims and objectives, customer satisfaction, and product reliability.

Appendices – any other evidence to support the business plan, e.g. personal profile of the owner, decision-making and reporting structures within the business, and advisers.