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2 marksThe Nature and Characteristics of Entrepreneurship

CAPE Management of Business Unit 2 · 2007 · Paper 2 · Question 5(a)

Sandy and Shelley plan to establish S & S Enterprise, a partnership specializing in 'Dance-Hall Outfits' in the retirement community of Peaceville, seeking a loan from the local bank.

Explain what is meant by a 'partnership'.

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Other parts of this question

  1. 5(b)Suggest to Sandy and Shelley, FIVE main provisions that they could include in their partnership deed.[5 marks]
  2. 5(c)Outline TWO disadvantages of forming a partnership business.[4 marks]
  3. 5(d)Identify THREE major challenges that Sandy and Shelley may face as young entrepreneurs.[3 marks]
  4. 5(e)Outline ONE way in which market demand would affect S & S Enterprise.[2 marks]
  5. 5(f)Discuss THREE main reasons why it would be important for Sandy and Shelley to conduct market research before embarking on their new business venture.[9 marks]

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