• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

'Best Blooms' understands the importance of having an attractive garden, and also understands that not everyone has the time and effort needed to build and maintain one.

Extracts from this document...

Introduction

Executive Summary 'Best Blooms' understands the importance of having an attractive garden, and also understands that not everyone has the time and effort needed to build and maintain one. 'Best Blooms' is a nursery and offers a garden maintenance service. This service provides great convenience, considering that the large majority of the residents in the area own a house and garden. It is quite a unique service to the area also with very reasonable prices, the services range from lawn mowing to bonsai, practically anything to do with the garden. 'Best Blooms' is owned by Teresa Green and is located in Sydney's Northwest. She has 25 employees, and the business has been running successfully for 5 years. Due to the fact that they are providing an efficient & quality service, they have been in high demand and have been so successful that they are now looking to expand. Legal Entities A business' legal structure affects the ownership, tax structure, risks and future of that business. Choosing the legal structure that best meets the business' needs may: * Protect owner from avoidable risks * Help minimise your taxation liability * Save time and minimise paperwork * Help to avoid government regulation and unnecessary "red tape". ...read more.

Middle

Rate is 7%, & 8% after 1/7/2000. May be necessary if Sole Trader is employing labour, subject to employee earnings. rate is 7%, & 8% after 1/7/2000. Types of annual tax returns required Form C & Form I Form P & Form I Form I GST Registration Requirements Compulsory if earnings exceed $50,000 Compulsory if earnings exceed $50,000 Compulsory if earnings exceed $50,000 Legal Entity Are separate legal entities, are regulated by the ASIC and must comply with the Corporations Act 1989. Can be formed by one or more persons. Are not treated as a separate legal entity for tax purposes. Can be formed by 2 or more persons. Are regarded as being one and the same legal entity as the business. Must be formed by one person. Liability for Debts Company Directors may be personally liable and responsible for all debts. Limited liability to some extent. Each partner is personally liable for all debts of the partnership. Unlimited Liability Individual is personally liable for any debts. Unlimited liability Figure 1 Recommendation: Of all the factors which influence the business owner when deciding upon the most appropriate legal structure the four most important are the: 1. ...read more.

Conclusion

Some businesses suffer worse then others (i.e. airlines), but in the overall everyone is affected Government Policy- although the premise is always for the good of society. These regulations affect business in horrendous ways. The recent GST policy affected every business in Australia. Competitors- Competition between businesses to be the 'market leader' or to win customer loyalty can benefit the consumer, but when the smoke clears one business will suffer immensely. (E.g Another business similar to "Best Blooms" opens) Environment- this change could very well ruin a business. If there was an environment change "Best Blooms" could loose a sufficient amount of business. Be it because their services are not needed, (because of environment changes such as floods, cold weather), or they can no longer provide their nursery service-due to lack of plant growth. Conclusion: This proceeding report has shown the best possible advice for Teresa Green's business 'Best Blooms' to assist with the expansion plans. It has shown the legal entities that could be used in the expansion. It has evaluated the various legal structure options. The report described how the POLC model could be used to overcome challenges of different stages of a business life cycle. It has analysed four sources of possible changes in the external environment that could affect "Best Blooms". The report has also recommended the most appropriate option for expansion ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Aims & Objectives

    for animals which are new species, along with the breeding program for endangered animals. They can also make other zoos that are local and global about what animals they have and what they are considering to do with them, e.g.

  2. Business Studies

    Geographic location and distance have become less important > Any operations outside the 'home' country are part of the global economy > Reasons for the global web of operations is to drive costs down and exploit the competitive advantage each region has Changes in markets > Created world wide markets

  1. Functional Areas Report

    Some employees might even be judged incapable of doing their work correctly, therefore ultimately being sacked. Reasons why employees are sacked are: that their attendance is poor; if the work they are doing is not up to standard; or if their attitude is unacceptable.

  2. In this section I will explain every one the different types of business ownership. ...

    Chester Zoo is a registered Charity Limited by Guaranteed. Charity Limited by Guarantee means type of organisation normally formed for nonprofit purposes, in which each member pf the company agrees to be liable for a specific sum in the event of Liquidation.

  1. Legally the brothers could now be a partnership emphasised by Jessel MR in Pooley ...

    A public company must end in public limited company or PLC. It mustn't have the same name as one already on the Registrars index. A change would be required within twelve months of Registration if the name were found

  2. This report will be based on a local newsagent in Tottenham. "What is the ...

    This is creative thinking from the entrepreneur but unfortunately doesn't hide the fact that it is almost impossible to walk between shelves. You need to turn your body sideways before even attempting to walk between them. The newsagent is also the smallest out of all its competitors, who will be analysed about later on in this report.

  1. Importance of Human Resources Management

    Importance: Planning is very important because it helps the company to achieve its objectives more easily by realising the importance of attracting and managing talented and qualified workforce. The realisation has pushed the rise of Human Resource Departments and the all-important managers managing it.

  2. English for business

    about the event. Newspaper columns express opinions. Writers contributing to them are famous and influential and they adopt their own style. They say that a column can be appreciated after reading it in order to understand the attitudes of its author.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work