1. UNIT 1 ASSIGNMENT 3 – ASSESSMENT CRITERIA

2. BUSINESS FORMATS On the next five slides you need to research what each format is and explain advantages and disadvantages for each. P5

3. SOLE TRADER Provide a definition along with advantages and disadvantages

4. PARTNERSHIP Provide a definition along with advantages and disadvantages

5. LIMITED COMPANY (LTD) Provide a definition along with advantages and disadvantages

6. PUBLIC LIMITED COMPANY (PLC) Provide a definition along with advantages and disadvantages

7. SOCIAL ENTERPRISE Provide a definition along with advantages and disadvantages

8. MY CHOSEN FORMAT Which one of the formats will you choose for your business? Explain why you have chosen this format for your business

9. BUSINESS MODEL Define a business model P6

10. MARKET RESEARCH Summarise the findings from your research Explain how they support your idea Remember to say where you got your research from

11. MY PRODUCT Is your product a good or service? Describe it

12. BUSINESS AIMS AND OBJECTIVES What long-term aims does you business have Make sure they are realistic What SMART objectives will you set in the first year to help you meet the aims

13. STAKEHOLDERS What stakeholders does your business have and what is their influence on the business?

14. START-UP COSTS List the costs of starting your business. Be realistic and detailed

15. FINANCE PREDICTIONS Draw a simple cash-flow for the first year of your business

16. CONCLUSION Why do you think your business will succeed?

17. USING MY BUSINESS MODEL Analyse how your business model will help you succeed and carry out your activities M5

18. MY CHANCES OF SUCCESS Now you need to provide a conclusion of your chances of succeeding overall based on your chosen format and everything else. This section should be a long explanation using your presentation notes. A distinction will not be gained easily D3