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Produce an imaginary business. To do this I must research into all aspects of a business, using books, people, and computer resources. To help me do this I will create action plans that I will evaluate and redesign as I proceed during the project.

Extracts from this document...

Introduction

This project requires me to produce an imaginary business. To do this I must research into all aspects of a business, using books, people, and computer resources. To help me do this I will create action plans that I will evaluate and redesign as I proceed during the project. The reason for the action plan is to help keep track and organise what I am doing, it also shows points that I must cover for my business to be successful. In this project there are certain parts of the project that can be decided before I created a action plan these are: What will I sell- I will sell electrical goods like televisions, videos, and hi-fis My shop name- I will call my shop "RPES" (Raj Popat's Electrical Goods Store.) After a lot of thinking I have decided to place my shop in Wood Green shopping Centre. The cost of rent in the particular shop I have decided on is �36,000 per annum. From what I already know I have decided to make my business a sole trader operation as these are the easiest to set up. Also in a sole trader business I will get to keep all of the profits. Also as I am a sole trader business there are fewer regulations that I have to comply with. As a sole trader I do not have to make my business accounts available to any one except the Inland Revenue. This is useful as it saves me time, and it keeps my business dealings secret to the public. What is the aim of " RPES " The aim of " RPES " is primarily to be able to compete with other companies in the local area. Also to brake even, but provide a high quality service to the public. Then it is to make a profit. For the first year the aim of my business will also be to become a well-established business, and to remain open (not be forced to close due to lack of business). ...read more.

Middle

In a radio advert a theme tune is used. Disadvantages * People may switch station when the advert comes on * If there is poor reception then the listener may miss the advert * There are no radio stations that take adverts that span the whole country Advantages * Cheaper then television * Large audiences can be reached * This type of advertising is very good for local shops * The advert can be repeated many times Newspapers/Magazines Newspapers are normally produced and bought every day, so people will see your advert daily. Magazines on the other hand are normally produced weekly, or monthly. Newspapers can be aimed at different people, some are aimed at business owners, while others are aimed at very one. A newspaper can be local national, the difference is that a national paper is available all other the country while a local is aimed at the local area. It is easy to see what social groups read a national paper, while this is harder with a local. As magazines are normally aimed at specific groups, the adverts also do the same. This basically means that if your shops sells computer parts, then you advertise in a computer magazine. Advantages * A advert in print is normally kept for longer, so it may be seen many times by different people * Colour printing is now available at a much lower cost * Coupons can be in the advert so that the person can cut them out * Easy to reach a target group with magazines Disadvantages * Reader most of the time will skip the advert * You may have to design different adverts for different newspapers, or magazines * In some newspapers/magazines the advert may be surrounded by others, thus causing the advert to loose its affect * Magazine adverts cost more then newspapers * Newspaper adverts are not normally in colour Posters billboards These adverts are normally in a permanent place, and they are seen by every one. ...read more.

Conclusion

To figure out the amount of interest that is paid on the loan is worked out by this formula: Amount borrowed 100 * percentage rate = total interest paid Nominal rate of interest This is the rate of interest that is applied to the whole loan from when you take the money to when you pay back the last penny. Fixed or variable? The interest that is charged to the loan may be fixed or a variable interest rate. The fixed rate means that it does not change, while the variable can change. The interest rate that is charged depends on: * The status of the borrower, a small shop may have a higher rate of interest then a large company * How much money is to be borrowed, and for it will be used for * The amount of risk that there is, will the borrower be able to repay the loan * The value of the goods that are used to secure loan (these are taken if the loan is not paid off) * Bank rate, this interest rate is set by the bank of England, they also set the other interest rates. Are there any advantages or disadvantages to a bank loan? A bank loan may be set up quite quickly, in a sole trader business the borrower may have to use there home as security, and interest must be paid on the loan. My loan, and how much?- The amount of money that I will � 40,000. This is because when I talked to the owner of a similar shop they said that I would need that much to fit the shop out, and buy stock. The bank at which I would take the loans out at is with Natwest. This loan would be taken out over 5 years at a fixed rate of 5.5 % per month. This would work out as: 5 years = 60 months �40,000 divided by 60 months = �666.67p �666.67p* 5.5%= 700.00 + repayments per month ...read more.

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