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Business Studies - Business Activity (Market types (Services (Personal /…
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The aim of a market is to bring buyers and sellers together, so that an exchange of goods and services can take place
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An entrepreneur is someone who spots a business opportunity and decides to take the risk of running a business
A business plan is the intention and time frame for a business. Forecasts and targets for the main areas of the business
Liability is the responsibility for the debts of a business, whether only business assets (incorporated / limited) or also personal possessions are at risk (unincorporated / unlimited)
Both types of PLC require : Memorandum of Association, Articles of Association and must have a minimum of £50,000 in capital assetes to be issued a trading certificate