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2 marksThe Nature and Characteristics of Entrepreneurship

CAPE Management of Business Unit 2 · 2021 · Paper 2 · Question 3(a)(ii)

Petal and Peter graduated high school, studied Home Economics, and started Quality and Affordable Draperies using personal loans from family and friends. The island drapery market is dominated by two overseas firms controlling 70%. The Small Business Association advised them to prepare a business plan.

Define the term 'entrepreneur'.

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Other parts of this question

  1. 3(a)(i)Define the term 'start-up costs'.[2 marks]
  2. 3(b)Explain THREE of the challenges that Petal and Peter will likely face as a small business.[9 marks]
  3. 3(c)Discuss the importance of THREE types of information that should be included in the 'competitor analysis' section of the business plan.[12 marks]

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