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National factors

National factors. They effect you, even if you aren’t interested in them. Introduction. How many of you know about politics or economics ? How many of you are interested in either of these?

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National factors

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  1. National factors They effect you, even if you aren’t interested in them

  2. Introduction How many of you know about politics or economics? How many of you are interested in either of these? How many of you know someone who is unemployed (over 18 and wanting a full-time job, but cannot find one) This means …… Put a heading “National factors that effect start-up businesses” and briefly state an example of how politics and the economy effect start-ups.

  3. Politics • Name the three largest political parties in the UK. • Can you name any others? http://www.parliament.uk/about/mps-and-lords/members/parties/ • What is the general election and how does if differ from a local election and a referendum? Research (add the answers to your notes in full sentences) • When is the next general election? • How can this date be changed?http://www.parliament.uk/about/how/elections-and-voting/general/

  4. Learning Objective Today I will learn: • What the Government budget is made up of – money in and out • The different types of taxes I will be successful if I can: • AO1: Identify sources of receipts and spending • AO2: Explain at least one possible way the Government could improve its budget • AO3: Evaluate the impact of taxes on businesses

  5. How does politics effect us? The government gets its money from taxation and borrowing and spends it on things like education, defence, social security and helping businesses. Here is more detail: This link is on spending http://www.theguardian.com/news/datablog/2012/dec/04/government-spending-department-2011-12 This link is on income and expenditure http://www.housepricecrash.co.uk/forum/index.php?showtopic=161506 (income and spending) TASK: Look at the 2nd link (A3 print out) and discuss the following questions. • What does the government spend the most on? • Where does the government get its money from? • Does the amount coming in equal the amount going out? Can you think of any problems with this? • Where do you think the Government gets the extra money from? • How might the Government reduce the gap between what is coming in (receipts) and spending?

  6. How does politics effect us continued • What taxes do you know about? • Do you pay tax? • What taxes do individuals pay? (adults that work and spend) • What taxes do businesses pay? Think about businesses and add to your notes to explain how politics can effect businesses. Think about the taxes.

  7. Helping businesses The government wants to help businesses so that people have jobs that want them (there are around 1million young people without job at present) • Why is it good for everyone if people who want jobs have them? • One recent thing the government has done is to introduce the National Loan Guarantee Scheme. This helps small and new businesses raise finance. • The government also has on-line help https://www.gov.uk/browse/business. Look at “setting up” and answer the following questions.

  8. https://www.gov.uk/browse/business • In Setting up/Start your own business find Getting funding. What does it say is very important to do before you start? • In the same place what source of funding do they suggest? • Just below this what government scheme s are there to help businesses?

  9. Answers • Research the market • Investment finance, loans, grants, grants, overdrafts, invoice financing, leasing and asset financing Add to your notes an example of how the government is helping businesses.

  10. The economy • The economy refers to a country’s wealth and resources and how much it earns by producing goods and services. The government tries to ensure the economy is stable and growing. • This is how it works:

  11. The economy and words you have to know • Level of employment: why is high employment good? • Inflation: low inflation means small increases in prices ad wages so costs remain about the same and they are easy to predict • Exchange rates: can anyone give an example? If the exchange rate is £1:$1.5, how many £ will I need for $300 spending money. • Interest rates: ie the costs of loans. If I borrow £1,000 for one year at 9% interest how much interest will I have to pay. How much will I have to repay in total?

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