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WalesBusinessQuick questions
Business Opportunities (AS Unit 1)
Quick questions on Business plans and sources of guidance - WJEC A-Level Business
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the purposes of a business plan?Show answer
A plan does two main jobs. First, it raises finance: a bank or investor will not provide a loan or capital without a plan that shows the idea is researched, the figures are realistic and the money can be repaid. Second, it guides and controls the business: writing the plan forces the entrepreneur to research the market and forecast finances before committing money, which exposes weak assumptions early, and it sets objectives and forecasts that actual performance can later be measured against.
What is q1?Show answer
State two items you would expect to find in a business plan. [2 marks]
What is q2?Show answer
Explain one limitation of a business plan. [3 marks]
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