1: Employ People Provide people with : • income for living expenses • source of satisfaction and achievement • sense of identity and pride.
2: Technological change and innovation • Competition delivers products which are better, cheaper or more convenient • Technology is the key to – lower costs – improved quality or – the delivery of goods/services more quickly
3: Choice • offered to consumers when business sector is healthy and diverse • where you work, eat, shop and what you buy • allows people to specialise in what they do and interests pursued
4: Entrepreneurship • many aspire to run own business • offers a sense of independence and control • can achieve dramatic success and build substantial wealth
5: Social Role • a place where people meet, interact more than anywhere else outside of family • take people overseas or into situations they otherwise would not experience
6: Basis of a nation’s economy • A strong economy is built on performance of business • Business success effects entire society • Increases wealth and economic activity