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You are here: Home > Educators > Level 2 Business and Economics Education > Business Success and Failure 1 |
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Level 2 business and economics activities are designed to be used with a wide range of courses, including GCSE Business courses, Applied Business at GCSE, BTEC First Diploma in Business, GCSE Economics courses and the GCSE Business and Economics (Nuffield) course. Business Success and Failure 1: IntroductionMany people start out with the intention of setting up a business to make it a success. There may be a variety of reasons for starting a new business - making some money might be one, but there are other reasons as well such as the challenge, the desire to take responsibility and control of your own future and so on. You can refresh your memory about this by looking at the Biz/ed resource, The Aims and Objectives of a Business. 
Business closures can occur at any time and for many reasons. Success is not always as easy to achieve as many would like to think! Copyright: Hilary Quinn, from stock.xchng. The reality is that many businesses do not survive for any length of time. In 2005, 18,122 business closed, according to company data firm Experian. Small business failure rates can be anything from 20-30% within the first year. The factors that influence the success or failure of a business can be very varied. This resource will outline some of the factors that lead to success and in the second in this series will look at some of the factors that can cause failure. We will also look at what we mean by 'business success' - it can mean different things to different people. Activity Pages
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