Step2Skills: Starting a business
Thinking of setting up a business? Take this fun quiz to see how ready you are and discover key insights. At the end, we'll guide you to our 'employability' course to help you get started!
Q1. What does 'start-up costs' mean?
The money you pay an accountant
The money needed to create a new business
The money you earn from your business in the first month of trading
Q2. What characteristics do most successful entrepreneurs have in common?
Risk takers who surround themselves with good advisers
Excellent levels of English and maths
Good at following rules and controlling others
Q3. When starting up a new business, what should you prioritise?
Paying yourself a good salary
Having the latest equipment
Covering your operating costs until you begin to make a profit
Q4. What does APR stand for?
Average percentage rate
Annual percentage rate
Average percentage ratio
Q5. How old do you have to be to take out a loan?
16
18
21
Q6. What is the best way to promote your product or service?
Word of mouth
PR
Paid advertising
Q7. How important is it, to take out business liability insurance?
Not important at all
Quite important
Very important
Q8. Who is most likely to need to see your business plan?
A parent or partner
Your bank
Any staff member
Q9. What is the most expensive outlay?
Set up and maintain a website
Social media presence
Create business cards
Q10. Which is the best app to create social media posts, company graphics and business cards for free?
Vanca
Cava
Canva
Get your score
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