1 Business Revision

• Computing
• Upper Secondary (Key Stage 4)
• GCSE

KS4 Revision

What is an entrepreneur?

Entrepreneur

A person who starts/owns a business or businesses. Takes

financial risks to try make a profit. Could bring new ideas to the market.​

​

What is a sole trader?

An employee is someone who works for your business

1. True
2. False

Can a sole trader have employees?

1. Yes
2. No

What is a partnership?

Partnership

What is a private limited company?

Limited Liability

Shareholders are not responsible for the company's debts. ​

​

Shareholders may only lose the money they have invested in the

company to help pay off any outstanding debts or liabilities. This

means that the liability of shareholders is limited to the value of their

investment into the company’s shares. 

What is the difference between private limited and public limited businesses?

Private vs Public

Private Limited Companies can raise funds from investors, such as friends and family, but not from the general public, as its shares are not listed on the stock exchange. ​

Public Limited Companies are complicated and expensive to set up, but this type of company can raise large sums of money through listing its shares on the stock exchange.

What is a business plan?

Business Plan

Why would you write a business plan?

Why write a business plan?

What is a business aim?

Business Aims

What is a customer?

Purpose of a business

Purpose of a business

Business exists to produce goods and/or services and sell to customers at a profit.​

What is a good?
What is a service?

Goods/Services