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Chapter 1: Enterprise - Coggle Diagram

- - - - The next best oppurtunity lost when making a choice
- - - - From:
        
        Own skills or hobbies
        
        Previous employment experience
        
        Franchising conferences and exhibitions
        
        Small-budget market research
    - - Lack of sufficient own finance
      - Lack of awareness of the financial support and grants available
      - Lack of any trading record
      - A poorly produced business plan
    - - Operating from home
        
        Not close to the are with biggest market potential
        
        Lacks status
        
        May cause family tensions
        
        Difficult to separate private life from working life
    - - A newly created business will often experience competition from older, established businesses
      - The business may have to offer better customer service to overcome the cost and pricing advantages that bigger businesses can usually offer
    - - Personal customer service
      - Knowledgeable pre- and after-sales services
      - Providing one-pff customer requests
- - - - Make a profit to reinvest into the business and provide some return to owners
    - - Provide jobs or support for the local, often disadvantaged, communities
    - - To protect the environment