Business GCSE
Setting up a new business
What Setting up a new business means in Business GCSE, as defined for AQA.
Definition of Setting up a new business
Check what you remember
Read the wording for your board, then hide it and explain Setting up a new business in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
A reason for planning because it forces the owner to test the idea, estimate costs, revenue and cash needs, and reduce the risk of failure.
Topics that use Setting up a new business
- Business planning (AQA GCSE)
Related terms
- Accuracy and limitations of forecasting
- Break-even
- Business plan
- Cash Flow
- Cash Flow Forecast
- Cost of sales
- Costs
- Fixed Costs
Using Setting up a new business in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Business questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Business GCSE termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge