Question 1: List three key factors you should consider when choosing a business idea.

Answer: Market demand, start-up costs, and personal interests or skills.

Question 2: Explain why it is important to identify your target customers before starting a business.

Answer: Knowing your target customers helps to tailor products or services to meet their needs and increases the chances of business success.

Question 3: Describe what a simple business plan should include.

Answer: An outline of the product or service, target market, marketing strategies, start-up costs, and expected profits.

Question 4: Identify two sources where you could gather information about your potential competitors.

Answer: Online research (websites, social media), and visiting their shops or locations.

Question 5: Draw a basic layout for a small bakery shop. Include areas for customer seating, baking area, and checkout counter.

Answer: A sketch showing a rectangular shop with designated zones: one for customer seating, a separate baking area at the back or side, and a checkout counter near the entrance/exits.

Question 6: List three different types of costs you need to consider when planning your enterprise.

Answer: Start-up costs (equipment, licenses), running costs (supplies, wages), and marketing costs.

Question 7: Explain the importance of setting a budget for your business.

Answer: A budget helps to control spending, ensure funds are available for essential expenses, and plan for profit.

Question 8: Describe two ways you can promote your new business to attract customers.

Answer: Using social media advertising and offering special opening discounts.

Question 9: Identify what a ‘market research’ involves and why it is useful.

Answer: Market research involves gathering information about potential customers and competitors, which helps in making informed decisions for the business.

Question 10: Sketch a simple logo for a new eco-friendly cleaning service. Use symbols or text to represent the eco-friendly aspect.

Answer: A clean, simple design incorporating elements like a leaf, water droplet, or the words 'Eco Clean' in a natural font.

Question 11: Explain what a SWOT analysis is and how it helps in planning a business.

Answer: A SWOT analysis identifies Strengths, Weaknesses, Opportunities, and Threats, helping entrepreneurs understand internal and external factors affecting their business.