Before you start this unit you need to have a business idea.  This is not a product that you are inventing but a small business that  you can run.  Some ideas are:

It's ok to use a small family business in this unit e.g. if someone you know runs a hairdresser's, corner shop  or other small business you can interview them and find out costs etc.

Here is a success story to give you an idea.

Task 1

Think of a small business that you could research for this unit. 

            Search the internet to find out the following:

                        What competition do you have in your local area?

                        What do your competitor's charge and how much would you charge for your product/service

                        Who would your customers be?

Write a paragraph to briefly describe your business idea and explain where you would locate it, what competition there is, and some information about prices.

Ask your teacher to look at this work so that he/she can check that your idea is too complicated or too simple.  This will help you achieve the grade you need.