SMEs
A business with 5 - 199 employees
What is a SME
An establishment option where a business buys a business idea from another, e.g. McDonalds
What is a franchise
Strengths, Weaknesses, Opportunities, Threats
What is a SWOT analysis
People working together - what you are doing now!
What is teams
What is nature of business
The number of employees hired by SME owners
What is around 8 million people
A legal issue that needs to be sorted - Is this a residential area? Or is it an industrial area?
What is zoning
Where outflows are equal to inflows
What is break-even
What you did for task 2
What is a business plan
PTY LTD means this
What is proprietary limited
The term for the total money value of all goods
What is GDP
The extra costs in hiring an employee
What are on-costs
A break down of expected sales in a year
What is a sales forecast
What a business needs to do to stay ahead of its competitors
What is competitive advantage
This should always be the first heading in your business report
What is executive summary
Items that are sent overseas (made in Aust.)
What is exports
A pricing method based on whatever consumers are willing to pay
Key business function - money
What is finance
A business needs to use this to ensure the most current resources are being used - good on ya Coles!
What is technology
Any person, group, or organization that influences or has an interest in a business's actions and decisions
Stakeholder
The percentage of SMEs that fail within the first 5 years
What is 70%
Tax for all companies in Australia at 30%
What is company tax
A plan for expenses. Maybe I should do one this afternoon?
What is a budget
Using past experiences to determine the future course of the business
What is trend analysis
What are the four P's
Product, Price, Placement, Promotion.