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For my work I am setting up a marine shop selling marine items ranging from clothes to electronics.

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Introduction

GCSE Business Studies Coursework Introduction For my work I am setting up a marine shop selling marine items ranging from clothes to electronics. I will be located at the bottom of the Southend highstreet near the Royals shopping complex. I have chosen this location because it is near the seafront and lots of people walk up and down here in the summer and in the winter and there is a lot of trade. The objectives of my business are to be the Essex leading supplier in marine trade and to make the maximum profit and to treat my staff well. The location is circled (above) Types of Ownership * Sole trader This is a business owned by one person, all of the profits are yours and you are also in complete control. You own the business, banks are reluctant to lend sole traders, and there is also unlimited liability, the business ceases when then owner dies. Theory work * Partnership A business owned by 2 to 20 people. ...read more.

Middle

Finance raised by selling shares Must publish annual accounts and pay corporation tax. Location The place I have chosen to place my business is at the bottom of Southend high street opposite the Royals shopping complex. The shop that is already occupying this place is called "Cash Converter". The reason I have chosen this location is because it is within walking distance of the Seafront, it is also fairly near to a number of yacht clubs including Thorpe Bay Yacht Club (TBYC). The business that I intend to base my coursework upon is "Marine Force" I have chosen this because it stocks a large range of marine equipment and is the only one in Southend. The company "Marine Force" is an Ltd (Limited Company) I think this a good choice because the company is too large to be a sole trader or a partnership and it is also too small to be a Plc (Public Limited Company). List Of Equipment Needed * 2 Cash Registers �500.00 Each * 5 Business Computers �700.00 Each * 50 Shelf Stands �25.00 Each * ...read more.

Conclusion

I will need a loan of at least �50000.00 to start my business and this will cover stock, rent and overheads for a year. By this time I will have made enough profit to buy more stock and will have enough money to pay the next years wages and have a good profit but I will not have yet broke even. Capital When you think about setting up a small business you will need to borrow some capital unless you have an adequate amount of capital to set up your business. There is always a risk in setting up a business that's why nearly all large businesses have limited liability so their home and belongings are secure and cannot be taken away this is because if the company got into a big debt the owners and the shareholders will be left homeless and with no car or belongings and no money so limited liability is mainly for security. I will not need any planning permission for the business I am having because there is already a building there and I am not planning on having any extensions or alterations to the premises. ...read more.

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