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Planning a New Business (GCSE)

Last updated 22 Mar 2021

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What is a business plan?

A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts.

The business plan has many functions, from securing external funding to measuring success within the business.

Benefits of business planning to a start-up

The main reasons why a start-up should produce a business plan are:

• Provides a focus on the business idea - is it really a good one, and why?
• Producing a document helps clarify thoughts and identify gaps in information
• The plan provides a logical structure to thinking about the business
• It encourages the entrepreneur to focus on what the business is really about and how customers and finance-providers can be convinced
• It helps test the financial viability of the idea - can the business achieve the required level of profitability and not run out of cash?
• The plan provides something which can be used to measure actual performance
• A business plan is essential to raising finance from outside providers - particular investors and banks

Questions a start-up business plan should answer

A business plan needs to address the issues of interest to the reader and user.

Assuming that the plan is meant to be read by potential finance providers (e.g. a bank, business angel or venture capitalist) then it ought to provide convincing and realistic answers to questions such as:

• What is the business idea or opportunity?
• What is the product and how is it different or unique?
• What is the target market segment and who are the potential competitors?
• How large is the target market and is it growing?
• Who are the customers; how much will they buy and at what price?
• What will it cost to produce and sell the product?
• Can the product be made and/or sold profitably?
• At what stage will the business break-even and what are the likely profits?
• What investment is required to launch and establish the business?
• Where will the money come from and what type of finance is required?
• What are the main risks facing the business and how to handle them?
• Business plan

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Catch Up Online A-Level Business

This online course provides students studying A-Level Business qualification with a structured, self-paced study programme to cover key A-Level Business concepts from Year 12. The course is specifically designed to support AQA & Edexcel students, but is also suitable for OCR, eduqas and WJEC students.

• 40-50 hours learning time
• 94 course steps

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Save 10% when your order includes 5 or more full-price Student On-Demand courses or seats. Whether you’re purchasing access to multiple courses or buying 5+ spots for students in one course, you’ll qualify for the savings.

About this course

The course is intended to provide students entering the final year (Year 13) of study with a strong grasp of the most important A-Level Business concepts from Year 12.

The course is organised into a series of "Weeks" each of which contains sequenced, guided videos designed and recorded by A-Level Business experts, supported by interactive revision activities and resource downloads.

Whilst the course is designed to be completed in sequence (week-by-week), it is also ideal as a support resource for "flipped" or "blended" learning throughout the academic year, particular as it covers core topics which need to be revisited and reinforced as students complete their A-Level Business qualification.

Who it's for

All students taking an A-Level Business qualification.

Course series

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Course outline

• Introduction
• Sales Volume and Sales Revenue
• Fixed Costs
• Variable Costs
• Fixed and Variable Costs - MCQ Activity
• Total Costs and Profit
• Contribution and the Break-Even Point
• Calculating the Break-Even Point
• Interpretation of the Break-Even Point
• Break-Even: Uses and Limitations
• Costs, Profit and Break Even - Clear the Deck Activity
• Limited and Unlimited Liability
• Limited and Unlimited Liability - Trapdoor Activity
• Sole Traders
• Private Limited Companies
• Public Limited Companies
• Forms of Business - Concentration Game Activity
• Cash Flow Forecasts
• Improving Cash Flow and the Difference between Cash Flow and Profit
• Introduction to Sources of Finance
• Loans and Overdrafts
• Share Capital and Venture Capital
• Markets, Mass Markets and Niche Markets
• Market Size and Growth
• Market Share
• Market Size, Growth and Share - MCQ Activity
• Market Research - Primary and Secondary
• Market Research - Qualitative and Quantitative
• Market and Market Research - Match Up Activity
• Market Segmentation
• Market Mapping
• Price Elasticity of Demand
• Price Elasticity of Demand - Why is it Important?
• Price Elasticity of Demand Practice Activities
• Income Elasticity of Demand
• Income Elasticity of Demand - Practice Activities
• Price Elasticity of Demand and Revenue - Calculation Activity
• Understanding Markets - Clear the Deck Activity
• Understanding Markets - MCQ Activity
• Product Design and Development
• Pricing and Pricing Strategies
• Marketing, Pricing and Promotion - Categorise Activity
• Marketing, Pricing and Promotion - Clear the Deck Activity
• The Product Life Cycle
• Boston Matrix and Product Portfolio
• Boston Matrix - MCQ Activity
• Boston Matrix - Match Up Activity
• Marketing Strategies - Connection Wall Activity
• Productivity and Efficiency
• Capacity and Capacity Utilisation
• Implications of Low/Under-Utilisation of Capacity
• Implications of High/Over-Utilisation of Capacity and Ways of Improving Capacity Utilisation
• Capacity - MCQ Activity
• Organisational Design
• Motivational Theories
• Financial and Non-Financial Methods/Incentives to Improve Employee Performance/Motivation
• Motivational Theories - File Away Activity
• Financial and Non-financial Motivators - Impossible 5 Activity
• Organisational Structure - Clear the Deck Activity
• Organisational Structures - Categorise Activity
• Knowledge and Understanding
• Application and Writing in Context
• Application and Applying the Data
• Ratios, Averages and Fractions
• Percentages and Percentage Changes
• Index Numbers
• Standard Graphical Forms
• Revision Blast Activity 1 - Bubble Quiz
• Revision Blast Activity 2 - True or False
• Revision Blast Activity 3 - 30 Second Challenge
• Revision Blast Activity 4 - 3 2 1
• Revision Blast Activity 5 - Conundrums
• Revision Blast Activity 6 - 60 Second Challenge
• Revision Blast Activity 7 - True or False
• Revision Blast Activity 8 - Calculating Variances
• Revision Blast Activity 9 - Break-Even Calculations
• Revision Blast Activity 10 - Exam Style Question: Secondary Market Research
• Revision Blast Activity 11 - Cash Flow Forecast Calculations
• Revision Blast Activity 12 - Capacity and Capacity Utilisation Calculations
• Revision Blast 13 - 5 4 3 2 1

Graham Prior

Graham is Subject Lead for Business at tutor2u. He is an experienced Business teacher and HOD, a senior examiner, a seasoned presenter and conference speaker and an educational author.

Mike is an experienced Head of Department, teacher and A-level Business examiner. Mike is also a popular presenter on tutor2u CPD courses and student workshops.

Peter McGinn

Peter is an experienced Business & Economics HOD, teacher and examiner.

Jim Riley is the co-Founder and CEO of tutor2u. He is an experienced Business teacher, presenter and author.

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