Notesale: Turn your study into money

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Entrepreneur - Someone who owns a business, taking a
calculated risk for a reward
Motives- Escape job, Follow hobby or interest, exploit gap
in market, be own manager, work from home, Have a big
business on day
Considerations- Enjoy taking risk, Reward for such risks
will result in a profit
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Government particularly want to support them, e
...
form of
grant and look to give money to helm innovation and
research and support training and business help and support
Ideas come from brainstorming,personal experience,
business experience, spotting a gap in the market
Sometimes they may want to be established under a
business name ie a franchise
...

Copyrights/Patents important many businesses adopt this
service to protect their USP
A patent is the right to produce/process product for a fixed
period of time

A trademark is a word image, slogan or smell that a
business uses to differentiate themselves from their
competitor
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Methods include advertising,branding,product
features,USP,levels of service
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Benefits of it - Allow for allocation, assess your business
ideas, enables request for funding assess,
Drawbacks, time consuming, estimation, based on expertise,
opportunity cost
Content- Idea, all about, type of ownership, unique selling
point, whose the completion?, primary and secondary
research, profits,loss,budgets etc
...
Expensive though and how reliable depends on
how good sampling is
Secondary Market research, research that's already been
collected, internet government publication, press etc
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Quota-focus on target groups and target markets then
they’re asked to partake
Stratified -put into sub groups and target groups then
they're randomly selected
Factors affecting choice of sampling method-amount of
finance,nature of product and target audience
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Quantative is numerical and Qualitative is feelings opinions
and attitudes
Markets- a place where buyers and sellers come together
Local,National,Electronic(On line)
Market Segmentation-Breaking it down into smaller

sections or segments that have different characteristics i
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age,gender,income,location,tastes
Market Size-How you measure the size of a market
typically volume of units sold or value of the sales
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Market growth is a measurement of the change of market
size usually expressed as a percentage
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partner, private limited,public
limited
Sole one owner all decisions all liabilities etc
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Access to wider range of skills,
raise more capital, share profits, unlimited liability again
more severe because its up to the owner to pay off the debt
e
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witch hunt on wealthiest partner
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Private only goes to chose people e
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LTD, limited liability

this means that debts belong to company after assets are
sold of company cant touch personal asset
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Dividends though, Tend to lack the capital of PLC as they
sell publicly and more expensive and complex
Types of businesses
PLC public limited shares,limited,largest sales eg
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Anybody can buy shares and that's dangerous as
somebody can buy majority of shares and therefore owns
most of company
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Green Peace
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Offers the best value for money,provides the
best technological resources, access to good infrastructure
-Roads connections, Closeness to market for a shop etc
does it meet the need of the organisation’s qualitative
factors
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Permanent skilled motivated trained
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Consultants and advisers get brought in to provide expertise
in specific areas However they can be expensive and lack
specific knowledge of the business and market and culture

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