IGCSE, A Level Business Student Forum

(KN) Diversification of the economy
(AN) as by supporting a diverse range of start-ups the government can reduce dependence on a few industries, which can make the economy more resilient to economic shocks.
(AN+) Hence, this also gives consumers more choices for what product to buy and they wont have to pay large prices for it too.

(KN) Leads to economic growth
(AN) By supporting business startups, the government can hope to achieve greater productivity as well as employment opportunities within the country,
(AN+) from which, all of this combined can lead towards economic growth of the country.

[kn] increase competition
[an] as more businesses enter the market, firms will become more efficient as they want to be ahead of other businesses
[an+] leading to improved quality of products that satisfy customers
[kn] new ideas and innovation
[an] which would help diversify the economy and reduce dependency on a few industries
[an+] leading to a more productively active economy and larger range of products for customers to choose from

khuram khan wrote: ↑Sun Oct 29, 2023 11:56 pm [KN] Diversification of the Economy
[AN] Supporting a diverse range of start-ups can reduce dependence on a few key industries. This can make the economy more resilient to economic shocks.
[AN+] This also gives consumers more choices and wont have to pay large prices

[KN] Economic Growth and Job Creation
[AN] This is a result of more investment being put in the business
[AN+] Which ends up requiring more workers this increases employment in the economy

COPIED from SALMAN Disappointed

Abbas17 wrote: ↑Mon Nov 06, 2023 8:17 pm (KN) Diversification of the economy
(AN) as by supporting a diverse range of start-ups the government can reduce dependence on a few industries, which can make the economy more resilient to economic shocks.
(AN+) Hence, this also gives consumers more choices for what product to buy and they wont have to pay large prices for it too.

(KN) Leads to economic growth
(AN) By supporting business startups, the government can hope to achieve greater productivity as well as employment opportunities within the country,
(AN+) from which, all of this combined can lead towards economic growth of the country.

The whole first point COPIED from KHURRAM who COPIED it from SALMAN. Tried to change the wordings a bit in both points but generally COPIED.

[KN] This will help smaller businesses to increase their efficiency
[AN] making the market more competitive
[AN+] thus improving the quality of products and competitive pricing being charged

[KN] Lowering costs of small businesses
[AN] helping them focus more on innovation than covering up their costs
[AN+] Increasing creativity

Q8 Analyse the reasons, why governments shall support business start-ups [6]

Possible Structure:
[KN]startups could lead to future eco growth
[AN]due to new businesses entering the market, job opportunities increase, along with output and productivity
[AN+]thus, innovation is fostered, resulting in expansion, increased GDP, increased tax revenue, further leading to economic growth.

[KN]employment opportunities increase.
[AN]due to startups being major job creators, employment increases/unemployment falls
[AN+]this results in a fall in poverty, rise/improvement in purchasing powers, and a further improvement in standard of living (SoL's)

[KN]Job Creation
[AN]Supporting startups can help reduce unemployment
[AN+] creating diversity in the labour force

[KN] reduce monopolies
[AN] Existing businesses are also motivated to innovate and enhance their offerings to remain competitive in the marketplace
[AN+]which can lead to improved products and services