public private third

primary secondary tertiary

finance, human, technology

political , economic , social, technological , environmental , competitive

PESTEC

owners savings, family/friends loan, bank loan, overdraft, government grant, selling shares, mortgage, hire purchase

social or environmental

1person running a business, local, small business , ✅can choose working hours, ✅full control , ❎no one to share ideas with, ❎long hours

owned by min 2 max 20, trades locally, trades nationally , can be small, can be medium, ✅workload is shared, ✅more ideas, ❎profit shared, ❎disagreements

employees manager

customer, suppliers, local community

individual groups of people , have interest in business, have an influence on business

let customers know how they should be treated, ensure staff are trained

social media, feedback cards , online reviews, look at figures

tech and machinery

extracting raw materials

workforce into busines

essentials to stay alive

luxuries to make life comfortable

purchase, haircut, dry cleaning

clothes, shoe, table, food

see and touch, touch and see

long lasting , lasts long

use once , 1 use, one use

support a cause, raise awareness

provide a service, make good use of taxpayers money

make a profit

fishing, farming, oil extraction

car manufacturers , computer manufacturers , manufacturers of white goods like fridges and washing machines

hairdresser, bank, travel agents , schools

sales, strategies , marketing, objectives

business idea