GCSE Edexcel Business: Investigating Small Business - Paper 1 Walkthrough

Introduction

• Welcome to the walkthrough of Paper 1, GCSE Edexcel Business: Investigating Small Business.
• Structure of paper:
  • Total time: 1.5 hours
  • Total marks: 90
  • Divided into Sections A, B, and C.
• Suggestion: Start with Sections B and C (case studies) before Section A.

Paper Structure

• Section A:
  • No case study, approx. 25 minutes.
  • Start with multiple-choice questions.
  • Example questions:
    • Short-term sources of finance: Answer is trade credit.
    • Definition of exchange rate: Answer is the value of one currency in terms of another.
  • Three Mark Questions: Explain using a benefit and two strands.
    • Example: Benefit of buying a franchise.
• Section B and C:
  • Case studies involved.
  • Include application in answers.
  • Example approach: Read questions first, then case study.

Key Topics in Section A

• Market Segmentation: Target customers using gender, demographics.
• Marketing Mix: Identify elements such as price and product.
• Employment Law: Covers discrimination and health & safety.
• Financial Calculations: Total cost, profit calculations.
• Non-financial aims and qualitative data disadvantages.

Key Topics in Section B

• Case Study Approach: Application is crucial.
• Business Structure: Impact of operating as a private limited company.
• Financial Calculations: Break-even analysis, impact of cost changes.
• Market Trends: Analyze the impact of consumer income changes.
• Nine Mark Questions: Justify decisions using structured points and evaluation.

Key Topics in Section C

• Social Media Use: Ways for marketing and customer engagement.
• Stock Range Advantage: Unique selling propositions.
• Finance Options: Comparing bank loans and crowdfunding.
• E-commerce Impact: Evaluate e-commerce on marketing mix.

Exam Tips

• Section Prioritization: Start with sections requiring more analytical and application skills (B and C).
• Time Management: Ensure time for all sections, especially the 12-mark question.
• Application: Always relate answers back to the case study.

Conclusion

• Practice past papers for exam success.
• Rewatch specific sections as needed for better understanding and practice.
• Best of luck in your studies!