SME's
x amount of all people in the private sector
68%
Is gender an influence for establishing an SME?
Yes
Fill the blank
A ...... helps a business grow and gives them something to aim for in the future and gives the business a purpose.
Vision
Why are SME failure rates so high?
Insufficient leadership and management
Inadequate market research
Poor financial management
Average Number Of people in an Australian Household
3
What is a term that refers to the record of a country's trade and financial transactions with the rest of the world?
Exports
What does PAYG stand for?
Pay As You Go
In the planning process, how many subheadings are under the point of monitoring and evaluation?
3
How many Critical issues relate to an SME's success or failure?
7
How many nations are part of the Commonwealth?
56
What is an SME
small business that employs less then 20 people
What is a franchisee?
an individual or business that purchases a franchise.
What is the formula for Break Even Analysis
Quantity = Total Fixed Costs
Unit Price - Variable Costs Per Unit
What is the purpose of a business plan?
guides you through each stage of starting and managing your business
Who played the protagonist in Inception?
Leonardo DiCaprio
what % of SMEs will fail within the 1st ten years
60%
What is Goodwill?
The momentary value attached to the reputation of a particular business.
What is the formula for Total Revenue?
Price x Quantity = Total Revenue
What is a Skills Audit?
A skills audit assesses an employee's capabilities concerning their overall role.
Red Dog
SME's are the .......... For the Australian Economy
Engine Room
What are the 3 establishment options?
Setting up a new business from scratch
Purchasing an existing business
Purchasing a franchise.
What is the Formula for total costs?
FC + VC = TC
TECTOMB is an acronym. what does it mean?
Trend Analysis
Economic Conditions
Competitive Advantage
Technology
Over Extension of Resource
Management
Business plan
At what age did Heath Ledger die?
28