Using the pre-read case study provided, answer the three questions below. To garner full marks you must support your answer with specific examples from the case.

Part A: In a numbered list, name and describe three (3) reasons why businesses fail. What initiatives, or actions, in the case could reduce the risk of failure? Support your answer. (5 marks)

Part B: In numbered lists, describe three (3) advantages and three (3) disadvantages of small business ownership. How do the initiatives in the case help with both the advantages and the disadvantages? Support your answer. (5 marks)

Part C: In a numbered list, name and describe four (4) first steps people need to take to start their own business? What initiatives, or actions, in the case will help, or have already helped, with these steps? Be sure to talk about concepts related to the business model, feasibility analysis and/or marketing section of the business plan. Support your answer. (5 marks)

Answer each part in the window below. As a guideline, Your answer to each part should be approximately 200-400 words.

Business openings in Stratford outpacing closures during the pandemic Chris Montanini Jun 25,2021 Tasha Aspden, left, and Kelsey Kuchma, co-owners of Stilettos; Sawdust, one of nearly three dozen new businesses to open in downtown Stratford during the pandemic. Cory Smith/Stratford Beacon Herald The cancellation of the Stratford Festival at the beginning of the pandemic last year sent shockwaves through this part of Southwestern Ontario, a rural arts and manufacturing hub where popular eateries and quaint mom-and-pop shops rely heavily on tourism dollars. When that traditionally reliable economic boost evaporated last spring, observers in Stratford were rightfully concerned about whether the citys small businesses could survive. A year and a half later, though, as the province gradually begins to reopen from a third shutdown, the picture in Stratford is looking brighter than many people expected. According to a recent tally from the Stratford City Centre Business Improvement Area (BIA), 13 businesses have closed in the downtown core since March 2020 and another three have either moved away or transitioned online. The good news? The pandemic hasnt discouraged others from moving in. Nearly three-dozen businesses have already opened or plan to open during the pandemic, a number that surprised Kim Griffiths, the BIAs member liaison. Its incredible to me when you think about all the obstacles, she said. I feel like this is more (than usual). It just feels like its non-stop openings, but maybe its just because were so conscious of it this year. The BIA, which includes about 325 downtown businesses, has not officially tracked its ratio of incoming and outgoing members in the past, but the net positive number since last year is encouraging. Griffiths chalks it up in part to initiatives that promoted outdoor dining. If you didnt have restaurants, you wouldnt have people coming, she said. Tasha Aspden, the co-owner of Stilettos & Sawdust, agreed. That helped everybody, she said. Aspden and best friend Kelsey Kuchma opened the shop on Ontario Street to sell their handmade artisanal gifts and dcor in July 2020. The pair decided to team up while Kuchma was on a maternity leave from her full-time job and Aspden was eligible for the Canadian Emergency Response Benefit. A slow start kind of gave us time to figure out all the ropes, said Aspden, adding that they also didnt want to miss out on a location they felt was perfect for their business. After a busy Christmas, the lockdown that followed was a blow. Making things worse, most small business bailouts from the government excluded those that opened after 2018. There were times when we got really worried, Aspden said. It was hard to keep paying rent. We basically didnt take our own pay after Christmas. They persevered with online sales, though, and Aspen said there isnt much they would have done differently. (Stage 1) was the big opening for us, she said. Im glad to see were going in the right direction. Aspden and Kuchma are from Kitchener but some of Stratfords newest entrepreneurs are from farther afield. Brett Gillespie and his wife, Pam Morales, opened APT. 6 Apothecary on Albert Street after moving to Stratford from Calgary in February. Brett Gillespie opened APT. 6 Apothecary on Albert Street with his wife Pam Morales after moving to Stratford from Calgary in February. Cory Smith/Stratford Beacon Herald Gillespie said they made the trek to be closer to family from Huron County, but admitted the timing wasnt ideal for their new bath and beauty shop, a retail space for the handmade products they had been selling online and at markets in Calgary. We couldnt have come at a worse possible time, he said with a laugh. Waiting for the permits they needed to open while city services were delayed was among the largest hurdles, Gillespie said, but online sales and government subsidies helped, especially those precarious first few months. Weve been to Stratford several times and we kept telling ourselves weve got to move here, Gillespie said. Stratford is just a gorgeous little place. In terms of retail, it seems like a slam dunk. A proper grand opening is in the works. Were not seeing that immediate explosion of purchasing that we kind of hoped for, but at the same time its getting steadier and steadier as it goes, Gillespie said. Right now, weve got wholesale carrying us through but wed sure like to be able to present our product to the people of Stratford and area so they can see what were all about. 3 Another couple, meanwhile, has long-term plans for the pizzeria they took over on Wellington Street. Jamie Crosby and his wife Danielle opened Pretty Good Pizza last weekend and will offer the take-out staple until they can follow through on plans to transform the building into a bistro and wine bar next year. Jamie and Danielle Crosby opened Pretty Good Pizza last weekend and will offer the take-out staple until they can follow through on plans to transform the building into a bistro and wine bar next year. Galen Simmonds/Stratford Beacon Herald Like the others, Crosby said the location was too good to pass up. Ive been looking for a space in town here for a couple years now, he said. We always wanted something with some character and this place has these beautiful original tin ceilings and exposed brick walls and theres a back patio. Eventually wed like for it to feel kind of European and it has a bit of that vibe. Eddie Matthews, general manager of the Stratford and District Chamber of Commerce, said the downtown core isnt the only part of Stratford experiencing pandemic-era openings. The chamber has lost about five members since last year but has gained somewhere between 30 and 40 new ones. Not all of those are brand new businesses, but Matthews said the ratio has him pleasantly surprised and cautiously optimistic about the future