• 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

    dividend 16-Nov DRIP final dividend: Last date for return or revocation October DRIP Final dividend: Plan share certificates issued 01-Sep DRIP final dividend: Plan shares purchased for participants DRIP interim dividend: Plan share certificates issued 04-Aug DRIP interim dividend: Plan shares purchased for participants 11-Jul Final dividend: Ex-dividend date (FY 2004/05)

  2. Business Studies

    Word of mouth: - Publicity where businesses have little or no control * Place/distribution > Place concerned with the process of distribution and availability of products - Distribution channels an reasons for intermediaries > Distribution Channels are the channels by which a product is moved from place of manufacture to

  1. Importance of Human Resources Management

    Experienced employees can deal with problems much more rapidly than new staff. Constantly recruiting and training new people are very expensive and time consuming. By calculating the labour turnover later can also be very costly for Ford because if the percentage of the labour turnover is high then a lot

  2. English for business

    Parts of an Interview I. The Opening (2-5') The interviewers will set you at ease. They will open with easy questions about your major interests or by telling you about the job of the company. II. The Body (10- 20')

  1. Types of business ownership, starting a business, multinationals.

    No partnership in the world is a very large business because of capital. Other type of business is necessary to expand more. Limited Liability Companies * Joint Stock Companies * Two types: i. Private Limited Companies (Ltd) - Malta - more common than plc's Examples: Fino & Sons Ltd, Agius & Agius Ltd ii.

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

    Most golf shops around do not sell a good choice of golf gear so I would sell everything in this business from golf clubs to golf buggies. The only problem is that there are many golf shops around in the area and even though my business would offer more, it may fail which means that I would lose money.

  1. Sole Trading. Laws and regulations affecting my business

    Businesses which are VAT registered must send a VAT return to the HMRC usually every quarter. To ensure the proper amount of VAT is being paid by the business. Health and safety Businesses with premises must inform their local authority or Health and safety executive (HSE)

  2. Evaluate the issues that need to be considered when starting a business

    Duties and responsibilities should be done fairly. Also business name and the names of the partners, the type of business and business address, the deed will usually set out: 1. the amount of capital that each partner is to contribute to the business 2.

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