Business 0450 · IGCSE · Enterprise, business growth and size
Enterprise, business growth and size — practice question
Nicky aims to become a successful entrepreneur. She intends to launch a travel business that specialises in walking holidays. Nicky will operate in a niche market. To support her decision-making, she is drawing up a business plan. She has been informed that government support is available for business start-ups. She also understands that developing customer relationships will be important.
(a)[2]
Identify two reasons why a government may assist business start-ups.
(b)[2]
Identify two ways a business can develop customer relationships.
(c)[4]
Outline one advantage and one disadvantage to Nicky’s business of operating in a niche market.
(d)[6]
Explain one way each of the following sections in the business plan could help Nicky.
Business objectives.
Data about the market.
(e)[6]
Explain two characteristics of a successful entrepreneur. Which characteristic is likely to matter most? Justify your answer.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Create jobs / lower unemployment” …