Types of ownership

My business will be a sole proprietorship because I will be in charge of the business but I would need to employ people to help me run the business. As I decide what happens to the profits I would pay for wages and then spend the rest on repairs and debts until I had paid off the necessary debts and loans. I have chosen a sole proprietorship because I get to be my own boss and if I am deciding what happens to the profit I know it will be spent in connection with the business .The disadvantages wont affect me because I have employed people t work for me therefore I wont have to work long hours .All skateparks around the uk are unincorporated because people ride skateparks at their own risk so if they injure themselves it is there own fault. The only way I could get prosecuted is if they are injured due to bad maintenance of the park i.e. somebody hurting themselves on a nail sticking out of a ramp.


Business name

For my business name I will call my skatepark Planet Plywood because it has relevance being that the park is made of plywood and it is easy to remember because it is catchy and it is alliterated.

        


Product/service

In my action plan I will need to explain about your product or service. This should be about 4 or 6 paragraphs long or points long.

The type of information I will include will be: product or service name, together with reasons for its name.

  • Details of how the service or product is to be distributed- i.e. how it gets to the customer e.g. home delivery, mail order etc.
  • Every product or service should have a u s p (unique selling point). That is what makes it different from other services.
Join now!

You should explain in outline where the product will be sourced from, or if it is going to be manufactured where from.

This information should form a section that follows the objectives section of the plan.


Cash flow

Cash flow is important because if you have a poor cash flow your business goes bankrupt. A cash flow forecast enables you to see how much money is coming into the business and how much is coming in and how much money is going out. If to much money is going out and not enough is coming in you can ...

This is a preview of the whole essay