Business while serving a prison sentence.
The princes trust helped Gina a lot in the making of her
Business, by funding her with the resources necessary
For her business and the support she needed to get back
On track. They do this to a lot of young newcomers in
The business industry.
Task 1
Business Activity
The business activity of a business is the functions carried out by them for example, making goods, manufacturing goods and selling of goods.
There are also 3 sectors in business activity, primary sector, secondary sector and tertiary sector.
The primary sector of business is where they extract raw materials from natural resources.
The secondary sector of business is when the raw materials that have been extracted are manufactured into products.
The tertiary sector of business is when the products that have been produced are sold to the general public.
Blooming Scent work mostly in the tertiary sector with the selling of the flowers, but they also work a little in the secondary by designing flower arrangements such as bouquets.
Here are some of the activities carried out by Blooming Scent:
- Florist
- Delivery
- Funerals
- Valentines
- Weddings
- Mothers Day
- Other special occasions
Blooming Scent don't carry out as much activities as other big businesses because they are very small with only one branch and activities are limited.
Location
The location of Blooming Scent is very important to them. It is located in Bernie Grants Art Centre in Tottenham.
Here is a diagram of some factors of location
Not all factors will affect as much as others. Here are some that Blooming Scent has taken into consideration:
It is important to them because it has a sense of history which is also a factor of location. It is historical because it is in the centre of Bernie Grant, who was the first black Member of Parliament to run the constituency of Tottenham.
Another factor that might affect Blooming Scent is the number of competitors it has in the same area, there are around two or more direct competitors within a mile of Blooming Scent's location.
One way they try to distract customers away from other florists and attract them to theirs is by finding better methods to contact them. For example, treating the customers the way they would like to be treated and providing a very good customer service.
An additional factor of location is the need to be near customers. One of there main aims is to train young people, in Tottenham there is a large community of young people without an education and really failing in life so her aim is being achieved.
Ownership
Blooming Scent is in the private sector of business because it is not run by the government.
The simplest and most common form of private sector ownership is a Sole trader, they are self-employed. The owner has unlimited liability. Gina Moffat is also sole trader but her aspirations for the future are to become a Private Limited Company to get her business more known.
Here is a table about the advantages and disadvantages of Blooming Scent being a sole trader.
The only requirement that Blooming Scent really would have to do is register with the Inland Revenue (taxman). Also Ms Moffat does not have to submit her business accounts.
In big businesses there are certain departments do certain functions, but as a sole trader Gina has to do most of the work such as advertising, recruitment and many more. But because the work load is so much for Gina she has to recruit someone to do the admin side of work.
Aims & Objectives
All businesses have to set out aims and targets to achieve by a certain time for example for some businesses it would be to increase profit but for others it would be to satisfy customers and meet their needs. Blooming Scent’s main aim is to train young people. And her others are to expand her business and survive.
To expand, survive and increase profits are aims and goals for most businesses. For example to make profit is the main aim in most businesses because if the business is making no profit at all then it is not progressing and the chances of the business failing increases.
Survival is also an important issue for most businesses, especially for sole traders because of the smaller amount of money compared to limited companies. If the business fails then it has lost all the money that has been put into it, this is the one of the worst things that could happen to a business that’s why it is a main aim.
Some businesses only care about the money but in Blooming Scent it’s different. Being young and having gone through a lot of problems, even imprisonment. Gina still carried on making her own business, for this reason she has made her main priority to get young people involved in these sorts of activities. One of the things she is involved with young people is the “Business Mentor Project” where students like me have to investigate small businesses, in this case we are investigating hers. This involves the students visiting her premises and her visiting the school and giving her professional advice.
