Business Start-Up
The process of creating and launching a new business venture from the initial idea through to becoming operational.
Real World
When James Dyson launched his bagless vacuum cleaner in 1993, he faced 5,126 failed prototypes and repeated rejections from established manufacturers before finally commercialising his idea — illustrating the persistence and planning required in start-ups.
Exam Focus
For 'analyse' questions, always link start-up challenges back to cash flow problems — most early failures stem from poor liquidity, not bad products.
How well did you know this?