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Starting Up a business selling computer systems

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Introduction

Introduction For my coursework project I am going to start up a business selling computer systems I am going to look at planning a business, financial factors of a business, internal and external factors that influence a business, and factors of running a business I will break my project up into 10 point and tackle each one individually: 1. Introduction 2. The skills and talents of an entrepreneur 3. The resources needed to start up a business 4. The constraints of a business 5. The local business environment 6. The market research needed to determine the viability of the business 7. Business plan 8. The problems occurred when running the business 9. Solutions to the problems 10. Recommendations for the future I am intending to start up a business selling computer systems and repairing old ones. I will locate the shop in Rainham High Street. I am going to sell the computers at a low price and try to compete with the large companies. ...read more.

Middle

Business Sense - for choosing the price of goods and knowing how to make lots of profit and keeping costs low. Organisation - organisation is essential in a business a lot of time can be wasted if things are not organised properly. Logicality - in day-to-day running of a business, a small problems need to be tackled and this requires common sense. Risk Taker - if you want to become a large business and take in a lot of profit a lot of risks will have to be taken. Negotiator - when making business deals getting the best price is essential Team Player - getting on with your staff is essential, as you cannot have a large business without staff that respects you. Decision Maker - decisions will needed to be made from choosing products to sell to the prices to sell them at. Ideas - to start a business you need an idea. ...read more.

Conclusion

A bank load is the most expensive option as it has high interest rates attached to it, but it doesn't cause any disputes and can be for as much or a little as required. There are problems with this type of finance; if the repayments cannot be kept the bank will take assets of the business or even your house. A re-mortgage is similar to a bank load in that if repayment are not kept your will lose your house but this finance option has a lower interest rate than a bank loan. My business will be VAT registered which will give me an advantage over other small businesses that aren't. This means I don't pay VAT on products I purchase from other VAT registered businesses. So being VAT registered other businesses are more likely to buy from me rather that the businesses who aren't VAT registered because they can claim the VAT back which would make my products 17.5% cheaper if the standard price was the same. ...read more.

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