• 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...


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.


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.


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. Functional Areas Report

    to the same record at once and allow records to be kept up to date very speedily. Details of sales, outgoings and employees, for example, can be shared centrally and kept up to date. Linking computers together in a network is a very efficient way of organising them, although it can be expensive to set up.

  2. Tesco Research

    Management areas * Finance department * Human Resource department * Marketing and sales department * Administration department. HUMAN RESOURCE DEPARTMENT The Human Resource/ Personnel department is responsible for the management of the personnel in the business; with the aim of ensuring that they work as efficiently as possible.

  1. Business Studies

    within the business Opportunities and threats - opportunities and threats come from the external environment of the business * Establishing market objectives > The objectives of a business provide the frame work for the business to develop a series of activities and operations that aim at achieving these > It

  2. 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

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

    Map Of Newsagent And Surrounding Competitors (Appendix 5) The second question identifies three of the newsagent's competitors, which are all quite close to the newsagent itself. This will help me understand the reason behind the entrepreneur needing a certain enterprise skill. It will also help me understand the importance of the enterprise skill needed.

  2. Business Plan. After putting a lot of thought into what kind of business we ...

    Diversification When a business produces products that are already on the market or are similar to another product, it is called related diversification and this is what most businesses come into contact with when they tend to expand their business and produces new goods.

  1. Ownership, Location and Aims and Objectives of Lex Transfleet and Express Diner

    Another drawback is that the costs because it will cost to open a new deport, the expenses will be like buying the new place, electricity, and other bills. This can result in Lex being in debt but they can get debt free if they put the time and effort in to the new deport.

  2. Aims & Objectives

    They have offers on because this will appeal to the general public. These days the recession has taken place, and most people will want to pay the lowest price possible for certain products. If Tesco have special offers going on a regular basis they will have more and more customers coming in which will lead to a fine profit (revenue).

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