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Rural entrepreneurship in Wales
Rural entrepreneurship in Wales

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2.10 Summary

In this section you have:

  • articulated your business idea and how it fits with your rural lifestyle
  • set your SMART business goals for the next three to five years
  • considered the most suitable company structure
  • completed a mini-STEEP
  • identified the stakeholders for your business and their strength of influence
  • gained an understanding of your competitive environment through Porter’s five forces model
  • reviewed the process of strategy formation and outlined the strategic options for your business.

Now open your BPPR (or download the template [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] ) and reflect on the activities completed in this section. Review the output from each activity and complete the three questions raised in Section 1 of the BPPR, which require you to pull out the most important aspects of your thinking to date.