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Questions and Answers
What is the purpose of a business idea?
What is the purpose of a business idea?
- To provide a brief description of the intended business operation (correct)
- To identify potential competitors in the market
- To determine the target market for the business
- To calculate the initial investment required
Why is it important to have a clear idea of the sort of business you want to run?
Why is it important to have a clear idea of the sort of business you want to run?
- To attract potential investors
- To secure government permits and licenses
- To minimize the risk of failure in business operations (correct)
- To negotiate favorable terms with suppliers
