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Introduction

D2 Unit 16: Business Enterprise Red Group 11A/Eb1 Asid Ashraf 11L Assignment 7 (D2) Scenario: Although I am still at school I have had a really good business idea. I now need to investigate all aspects of setting up a small business. All the tasks in this module relate to this same scenario. Task 10: Justify recommendations made for starting a business. Consider your own business idea and decide whether, after all your research, you believe that you would go ahead with it. If so- why? You may also think that it would not be appropriate to pursue the idea further ? again explain why. Make recommendations relating to any changes you would make that would make it more viable. You must ensure that you justify the points you are making. Does your business have a sound idea? Yes I firmly believe that my business has a fantastic idea which is to sell ice creams. I also believe that I should go ahead with it because I have done all the preparation for setting up the business. In addition, I have done all the required research for my business. Furthermore, I would like to recommend to business owners that they need to ensure that they have a sound idea and an idea which is also interesting; not boring and that it will appeal to your customers easily. ...read more.

Middle

It is advisable for a Partnership Agreement to be drawn up by a solicitor. The profit legally should be divided equally between how many partners there are in the business. Duties and responsibilities should be done fairly. Also business name and the names of the partners, the type of business and business address. This is very important for businesses that they only investigate the relevant regulations which affect your business, as it makes no sense if you do irrelevant investigations which affect your business. Have you carefully chosen a good location? Yes I firmly believe that I have chosen a good location which was in Princes Risborough; I believe that lots of customer will come into my shop. There is a picture showing were my business is located: My Business is located here in Princes Risborough I would strongly recommend that you have a good location for you new business so that it will appeal to customers and that they would instantly would like to know who runs the business. Have you carefully considered finance? Yes I have considered the following which is the start-up costs of my business would be that when business purchases a building to set up. Also essential equipment needed for the business would be office equipment, cash till, and any vehicles required for my business. ...read more.

Conclusion

Also because I have done all the preparation for setting up the business and I have done all the required research for my business. I would recommend to new business owners that you need to carefully consider products and services to be planned and design, so that your potential customers would know what you are offering to them. And this is also important that the business owner is clear about this so that they know what they are selling to the customers. For my business I think that if my business had considered finance it would be easy to set up. I would recommend to new business owners that they need to carefully think how to consider the finance which is very important this is because for example they need to charge the right amount of money for a product and not a extortionate amount. Furthermore, I would like to recommend to business owners that they need to ensure that they have a sound idea and an idea which is also interesting; not boring and that it will appeal to your customers easily. I would strongly recommend that you have a good location for you new business; the reason why location is important for the type of my business is because I believe that it is an area that will generate lots of profit for my business. ...read more.

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