For this unit you need to have a business idea and research it
to see if it is possible.
P1 Recognition of the benefits of setting up in business (M1/D1)
P2 That you have sought and acted upon advice
P3 Suitable market analysis into your business and product idea
P4 That you can identify potential competition
P5 You can recognise the distinctive features of your product and that you can recommend a suitable price
P6 A list of the main resources that the business would need before it could start producing and selling (M2/D2)
P7 Details of the type of business ownership chosen for the business and how this affects profits, liability and
the way the business must be registered (M3/D3)
P8 An outline of the legal requirements that a business must meet before it can start trading (M4/D3)
P9 Details of suitable sources of finance for your business (M2)
P10 Clearly presented work in a suitable format. (M5/D4)