Introduction to unit Learning aim A

Starting a business People starting businesses need: sources of information information that is reliable and up to date. What factors may influence business decisions? Decisions made by government. State of the economy (when people have less money, some industries suffer, e.g. leisure). Regional resource issues (e.g. location, access to labour). Factors influence particular groups (e.g. high unemployment amongst young people).

Trends that affect business Social, for example: education travel population change. Technology, for example: web developments telephony.

Trends that affect business Environmental: recycling sustainability legislation. Ethical concerns of potential customers, e.g. child labour animal welfare community.

Types of business Terminology that defines business size and type: Micro business SMEs Large business Start-ups and existing businesses

Learning aim A – assessment You will show that you can identify factors that impact on a start-up business. You will show that you can identify trends that impact on a start-up business. You will compare how two trends have impacted on a start-up business. Assess the current risks, opportunities and trends in the business environment for a start-up business.