Which two of the following factors would be important for a sole trader when starting up a hairdressing business?
Select two answers - Edexcel - GCSE Business - Question 2 - 2016 - Paper 1
Question 2
Which two of the following factors would be important for a sole trader when starting up a hairdressing business?
Select two answers.
A) Ability to raise share cap... show full transcript
Worked Solution & Example Answer:Which two of the following factors would be important for a sole trader when starting up a hairdressing business?
Select two answers - Edexcel - GCSE Business - Question 2 - 2016 - Paper 1
Step 1
How to finance the business
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Answer
Financing the business is crucial for a sole trader. It determines how the initial capital will be funded, affects operational costs, and influences overall business sustainability.
Step 2
The legal aspects
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Answer
Understanding the legal aspects is essential for compliance with regulations and ensuring the business operates within the law. This includes licenses, permits, and knowledge of relevant laws.
