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

Starting and Running a business.

Extracts from this document...

Introduction

There are quite a lot of aspects to consider when you are planning to start your business. The needs of a business: - All business needs resources. So we do. These are some resources includes * Premises (Building or property) or at least some space in which we can work. * Equipment such as computer, furniture etc. * Raw materials or stock, if goods will be made or resold. * Someone to deal with customers or process enquires. This may be the owner or additional staff may needed or secretary. * Basic fresh item from carrier bags to printer paper. * CCTV certificate, Fire certificate etc. We need resources that are required and works that cost of each calculation, the start up cost and then decide what tasks must be done and in what order before our business can start trading. Advantages: - There are many advantages for needs of a business. They are following. * We need premises for office so we can communicate with customers. * Computers are important because we can do our work quicker then paper work. Furniture is also required because we will put our office stuff. ...read more.

Middle

Planning techniques includes: - * First you think about what you want to achieve in 12 month time and where you want to be. After that identify the steps and resources that are necessary for achieving this goal. * Using a wall planner to enter key events and preparations for these. * Recording all commitments and 'to do' personal organiser or diary, so anything that is important is never forgotten. Controllable and uncontrollable aspects: - Controllable aspects are that where our partners can directly take some action. This may include * Reduce prices to sell off extra stock and achieve their target sales. * Sign up temporary staff to cover for staff absence due to illness. * Rescheduling work to meet an urgent meeting. Uncontrollable aspects are factor that can affect the plan but these can not be controlled by owners. They are * Changes in interest rates which affect the lone repayments * Competitors launching a new product or service. * The borough council or local authority introducing new parking restriction or one way system that reduces passing trade. * Suppliers increase their prices. Although uncontrollable issues usually involve an element of surprise, effective business owners try to be prepared. ...read more.

Conclusion

cash register * Install telephone/fax line etc * Buy stick * Appoint and train staff * Advertise opening. After this the owner needs to convert the entire list into actions plan using a wall chart, dairy or computer. The plan should also take into account the possibility that things could go wrong, such as stocks are being delivered late. Materials and supplies: - If our business produces well then we must buy regular raw materials for goods. If goods or services are brought ready to use or sell then we called it supplies. In both situations every business needs to find cheap and dependable recourses. Then we need to decide how often to re-order material and how much to order. But before we make any decision we need to look at * Storage space * The effect on the cash flow of paying for large quantities of goods. * Possible discounts for bulks purchases. * The length of time form ordering to deliver. This is called lead time. Whatever we decide, we have to look at how much stock is needs to start up and routine system of reordering needs to be established. ?? ?? ?? ?? Starting and running a business Jawad Ali 11NPH ...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. Tesco Research

    Discontinued operations 145 158 150 153 139 Interest payable -60 -60 -49 -76 -72 Group underlying profit before tax3 675 695 627 549 580 (Decrease)/increase on previous year -2.90% 10.80% 14.20% -5.30% -23.20% Earnings per share4 Basic 20.7p 23.7p 19.1p 14.5p 18.3p (Decrease)/increase on previous year -12.70% 24.10% 31.70% -20.80%

  2. English for business

    Policeman ? Fireman ? Officer ? Soldier ? Custom officer I. Answer the following questions: 1. Who are those making and repairing things? 2. Advantages and disadvantages of the teaching profession? 3. What does the medical profession require? 4. What do computer operators do?

  1. Business Studies

    on the last day they are due Loans > Rather than borrowing to buy the product the business could sell lease back > An advantage is the lease repayments are a tax deduction Overdrafts > A business can control its over draft by ensuring that all cash received is promptly

  2. Business studies - Business Plan

    communicate with them, it will allow me to hopefully get alone with my employees and communicate with them, it also allows for a company team for example which would help build a bond between me and my employees. On the other side it could have negative affects on me and

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

    I also believe that the name is neither complicated nor hard to remember so it will appeal to my target market, which is teenagers. I have done a lot of research into other milkshake companies to confirm that I am not copywriting another businesses name as this would be breaking

  2. Business studies-create your own business

    A. under �5 B. �5 ~ �7 C. �7 ~ �10 D. over �10 9. If we provide 'eat as much as you like' for 2 courses, how much do you think it is reasonable price? A. �6.50 B. �7.50 C. �8.50 �9.50 If it is Other, please state..................................................................

  1. Sole Trading. Laws and regulations affecting my business

    So that the risks of the business are properly assessed and all necessary governmental authorities are informed. Leasing arrangements A contract detailing the arrangement of a leasing contract. By law when a contract has been written the business must pay fixed monthly sums.

  2. Business Studies Edexcel Coursework

    For instance, secondary research will tell you how much adults spent on family cars, but not how much they're willing to pay for the family car design your company has in mind. Primary Research Primary research is simply research that's customised to a company's individual needs.

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