busines planning

Question 1

definition of SMEs

Answer 1

number of quantities and qualitative measurements used to determine size

number of employees
type of ownership
sources of finance
legal structure 
market share

Question 2

reasons for SME failure

Answer 2

lack of planning
leadership crisis
not enough sales
poor location

Question 3

Person qualities

Answer 3

Qualification - persons education/level of training

Skills - persons ability relevant to work

Motivation - intrinsic and extrinsic

cultural background - beliefs

Gender - men/ women different ideas, women in small business make up 1/3

entrepreneurship - ability to utilise business inputs in leader to innovate and be successful, take risks, confident