Question 1: Define the term 'enterprise' in your own words.

Answer: An enterprise is a business or company that offers goods or services to customers with the aim of making a profit.

Question 2: List three important things to consider when planning a new business venture.

Answer: Target customers, start-up costs, and location.

Question 3: Imagine you want to open a new bakery. Name two supplies you would need to start.

Answer: Ovens and baking ingredients.

Question 4: Describe a simple process you would follow to plan a small business.

Answer: First, decide what to sell. Next, identify who your customers are. Then, find a suitable location. Finally, work out how much money you will need and how to get it.

Question 5: Sketch a basic layout for a small shop or stall. Use the large blank space provided.

Answer: A correct sketch shows a simple rectangular shop layout with areas for products, a counter, and a cash register. It should be clear and organized.

Question 6: Explain why it is important to research your target customers before starting a business.

Answer: Researching your target customers helps you understand what they want to buy, how much they are willing to pay, and how to advertise your products effectively.

Question 7: Identify two potential challenges you might face when planning a new business.

Answer: Finding enough customers and managing start-up costs.

Question 8: Write a brief plan for how you would advertise your new business to attract customers.

Answer: I would create posters, tell friends and family, and use social media to let people know about my business.

Question 9: Imagine you are planning a small craft stall. What are two items you could sell?

Answer: Handmade jewellery and painted picture frames.

Question 10: Describe the importance of budgeting in enterprise planning.

Answer: Budgeting helps you plan your spending so you do not run out of money and ensures you have enough to cover all costs.