 Learning Intention: To understand why businesses are important to the Australian Economy.

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Presentation transcript:

 Learning Intention: To understand why businesses are important to the Australian Economy.

Firstly access the PDF on the share drive and listen as we read it carefully. (or read it independently) Then complete the following questions…

1. Roughly how many new small businesses start up in Australia each year? 2. Roughly how many small businesses close down in Australia each year? 3. Why do small businesses close down? 4. What is a primary industry? 5. What is a secondary industry? 6. What is a tertiary industry? 7. What is a private sector business? 8. What is a public sector business? 9. What is a franchise? 10. What is an entrepreneur?

 Go to: Go to:   What do you notice about this list?  Add some of these names to your categories and comment on why they might be important to the Australian economy.

Learning Intention  To understand what is involved in starting a business. Success Criteria Describe the personal skills required to start a business. Explain the differences between primary, secondary and tertiary industries. Evaluate the advantages of starting a business from scratch, buying an existing business and buying a franchise. Evaluate the advantages of incorporated and unincorporated businesses. Explain how location affects the success of businesses.

Personal Skills List the three most important skills and explain why they are important for this business. Type of business Explain what your business does. Will it be a primary, secondary or tertiary business? Explain. What is going to set your business apart from other businesses? Establishing the business Will you start the business from scratch, buy an existing business, or buy a franchise? Explain your choice. Explain why the other two models are less appropriate. Ownership structure Will your business be incorporated or unincorporated? Explain why. Explain why the other option is less appropriate. Location Where will your business be located? Explain your choice. Work (by yourselves or) in your groups to develop a business plan. You are to divide the tasks up amongst yourselves. Make sure everyone does a fair share of the work. Your website link is due to be posted on EDMODO by 7/3/15. Create a Weebly website for all of this information. You will also need to write a reflection on how well each member of your team contributed.

 Weebly 