AS BUSINESS buss 1 HELPPPPPP Watch
Also don't forget to do a definition, I personally think it's worth it because it might trigger some extra facts that you might not have remembered.
Example: (based off a past paper I did today)
Tom is a sole trader and has limited finance. He sells personalised T-shirts to larger organisations, in order to stay competitive he needs to give 3 month trade credit to his customers but needs to pay his suppliers on delivery. The bank has agreed a overdraft limit of £20,000.
If the question was 'Name one advantage of having an overdraft' I would answer like this: Application in bold
Tom is a sole trader and has limited finance and so having a overdraft of £20,000 from the bank will be very advantageous. It is likely that cash flow will be a common issue in Toms' personalised T-shirt business as he will offer 3 months trade credit to his customers which delays cash inflow, additionally, Tom receives no trade credit from his suppliers and must pay them when the goods arrive which speeds up cash outflows. Having an overdraft will aid Toms' business because there may be periods where Tom has a negative cash flow, and therefore, needs to use the overdraft facility to cover costs so that he can continue trading.
(I do fairly well in Business Studies (A in my mock) and this is what I try to do)
As for the finance side I struggle too but I find doing flash cards really helps, get to know the formulas and you'll be fine. Also in the longer answers try to do some working out your self, e.g. If the information is there and its talking about the growth of a business you could work out the market growth.
Best of luck!!