In 1992, two friends spent a winter skiing in the Alps In 1992, two friends spent a winter skiing in the Alps. To make some money, they started designing and selling T-shirts. One of the friends travelled regularly to and from London. He took the designs to manufacturers in London and brought the finished T-shirts back to the skiing resort. They did this for two years, then opened their first shop in London, called Fat Face. Now there are more than 100 Fat Face shops, selling mainly to young people who want to look sporty and fashionable. It has grown into a large and profitable limited company. Identify two problems any business is likely to face when starting up. i. Raising enough finance ii. Raising the capital to expand iii. Meeting the costs of starting an unlimited company iv. Coping with problems caused by falling interest rates v. Identifying a profitable gap in the market vi. Coping with high demand during a recession vii. Keeping the value added low enough to survive

In 1992, two friends spent a winter skiing in the Alps In 1992, two friends spent a winter skiing in the Alps. To make some money, they started designing and selling T-shirts. One of the friends travelled regularly to and from London. He took the designs to manufacturers in London and brought the finished T-shirts back to the skiing resort. They did this for two years, then opened their first shop in London, called Fat Face. Now there are more than 100 Fat Face shops, selling mainly to young people who want to look sporty and fashionable. It has grown into a large and profitable limited company. Identify two problems any business is likely to face when starting up. i. Raising enough finance ii. Raising the capital to expand iii. Meeting the costs of starting an unlimited company iv. Coping with problems caused by falling interest rates v. Identifying a profitable gap in the market vi. Coping with high demand during a recession vii. Keeping the value added low enough to survive