Thursday, 9 May 2013

Task 3 - Analyse the different aspects that will affect a business

Project extension Task 3

To set up a business is easy, but is easily destroyed, the business can be affected in different ways, financial issues, rules and regulations, strategy, structure, weather, location, marketing strategy and etc.

Marketing Strategy

Its really important how the business is promoted, because that can affect it really bad. Thera are different ways to promote the business, can be by leaflets, bill boards, posters, web advertises, word of mount and etc. If the business is not well known, the less customers can affect the business in the bad way. 

Structure of the business can be 3 types:

The structure of the business, should to be carefully choosed, because the not right structure can affect the business badly (if the business is large, they need choose structure like hierarchical for large business)

Matrix - This structure is more complicated, because have different people from different functional. All of the members in the company have different skills which are helpful for the business. They work together task by task

Flat - In that structure have no many structure levels, there are 2 or 3. That type of structure is welcome in most of the companies, because is simple and productively. Flat structure have one boss, manager and staff or just staff without manager

Hierarchical - In that business structure have few levels, these levels are arranged one below other. The top levels are the high levels and the bottom is the normal staff, but under the top level have few levels and on these few levels each have few levels. The levels can go as much the company is big.

Laws and Regulations
There days is easy and hard to set up a business, because everyone have the right to set up a business but there are many different laws and regulatios (rules). All of the business should to be S.M.A.R.T. (Specific, Measurable, Achievable, Realistic, Time-Bound) and they need to have information about the company, shareholders. All of the business need to know the ACTs that they have to apply, some businesses need a license for specific sale/service. There are many laws and regulations that might affect the business, thats why all employees and employers need to think about that before starting work within the company.

Consumer laws - The purpose of this law is to protect the consumers who buy services and goods, that law protect them against unfair treading or when there have something wrong. That can be damaged goods, problem with the negotiations (contracts), poor service and ETC. There are different Acts of Parliament, which have improved and try their best to help the buyers.
There have two more laws that protect consumers:

- The Sale of Goods Act (When buy good in the shop)
- The Consumer Protection Regulation (When you buy goods online)


Criminal law - This law is not allowing people to do illegal businesses, criminals are people who act against the rules of the Parliament. There is a competition law, which the purpose is to make fair competition between the companies and makes the prices lower, the quality better and lots of different goods.

Consumer Protection from Unfair Trading Regulations 2008 - This Act helps to the customers to protect their self from the sale assistans. This is not allowing the sale person to lie, act unfairly, agressive behaviour, pass the good as another brand and ETC. Clients must report that kind of behaviours to Trading Standards, then can take action in the criminal/civil court.

Data Protect Act 1998 - That Act controls how your personal information is used by businesses, organisations and government. Every person who use Data Protection need to fallow the "data protection principals" and they must make sure the information is used: fairly, limited, kept no longer than the necessary, handled right, kept safe/secure, NOT transferred outside the UK without adequate protection and ETC. There is stronger protection for more personal information like religious beliefs, health, sexual health, criminal records, ethic background and political opinions.
National Minimum Wages 1998 - There is a national minimum wages in The UK, it help to the employee to get fair wages for everyone. There are different wages groups, there are 21+,18-20, 18 under and since 2010 have apprentice group. Every year the wages are increasing to make sure that they cover the need of the people.
The current National Minimu Wages for 2013 are:

For 21+ is £6.19, after 1 October will be £6.31
For 18-20 is £4.98, after 1 October will be £5.03
For 18 under is £3.68, after 1 October will be £3.72
For apprentice is £2.65, after 1 October will be £2.68
Employment Right Act 1996 - An employee has an employment contract. The contact must be written and given to the employee within eigth weeks from the start date of the employment. That type of documents are called "writted statement of partuculars", it contents the main terms of the employment contract. On that documents says what the employer CAN and CAN NOT DO
Disability and Discrimination Act 1995 - The purpose of this act is to give right to the people with disabilities, it gives them the same right like the people without disability. It gives them the rights in the areas of: Education, Employment, acces to goods, facitities and services, including larger private clubs and transport services,  access to goods, facilities and services, including larger private clubs and transport services, buy or rent property/land and etc.

Race Relations Act 1976 - The purpose of that act is to stop the discrimination on the race of the people ( Colour, race, ethnic group, natinality or anything similar) in the areas of employment, public options, education. The directors/employers have no right to discriminate againts to anyone for a job, because their difference.

Sex Discrimination Act 1975 - The Parliament, has created that act to protect the men and women against the any discrimination of their sex. That act gives the same right to the men and women, equal options for both of the sex groups. That helps them to have the equal opportunity to work, study, train and etc.

CRB checks (Criminal Record Bureau) -  The purpose of this CRB checks is to make the work places safer, in work places like: Working with childrent/voluntary jobs, healthcare and working with disabled people. The employers have no right to ask for that check, if the job is not requires it for a certain jobs. That helps to the employer to make a decisian that the applier for job is it suitable for it or not, that is most important especially with vulnerable people and children.


Financial issues

Some financial issues could affect to setting up a business, some people need financial support to set up their business. People can get money a friend/family, might get loan from the bank (but will have to pay interest), some have their own saving or some people can sale their personal belongings like property/land, car and etc. Once their started their business, they can get money from someone else if their company is LTD, they are able to sell share to someone who can buy their shares. Every business have different way to get money depent on the business. Most of the businesses make their money from advertises like internet advertises. The business can sale or provide services to make a profit, also can make their goods and sale it, when they are in the Secondary/Tertiary sector.
People have to be becarefull with they costs, because if the costs increase more than the profit that will shut down their business

U4 P1 - Task 6 - Compare the main job roles and functions in two different organisations

Project Extension Task 6

In this part of my coursework I will compare the main job roles and functions in two different organisations, the organisations that I have choose are British Red Cross and Wesminster Kingsway College.


British Red Cross's Departments:
- Finance and Business Development
- Education and Human Resources
- Communication Department
- Fundraising
-International
- Strategy and Evaluation
- UK service department

The Candidate will do: provide information and provide services to learning teams
The Candidate need to be able to use Microsoft Office (epecially Edexel), well communication skills and person who have spare for different changes in the workplace.

Westminster Kingsway College's Department:
 
- Teaching
- Marketing
-IT Department
- HR
- Finance
- Professional development (separeted training department)

Jobe Role: Lecturer - Mathematic

http://jobs.westking.ac.uk/vacancy_detail.asp?ID=220

The candidate for that job will need to: Provide effective teaching, support and assessment in Mathmatics on range of courses including GCSE,AS, and A2
The candidate will need to have: Excellent IT skills, qualifications, experience and need to be flexible  

Both of the organisations are different, they have similar departments but their purpose are different. Westminster Kingsway College provides services by educating the people, British Red Cross also provide education but different type of education like training, and their purpose is th help to the humanity by keeping them safe from disasters, help people in crysis and emergency responds.

Both of them deal with people and sell/provide services to the community.
Westminster Kingsway College's Departments
British Red Cross’s Departments
Teaching and Learning – This departments try make sure that the students are well provided from the teachers. International – This department is working everywhere around the world.

 Human Resources – This department deals with the need of the staff, they find new employees. Education and Human Resources – Its one of the most important departments for the British Red Cross, because they should make sure that the education/training is provided well and make you that the people have all the equipment
Operations – This department is dealing with everyday problems, day to day. Helps to the organization to deal with daily problems.Strategy and Evaluation - This department work with the board of trustees and the senior management and they try to keep to their main strategy. This departments help to the organisation to be one whole.
Finance – This department is important for many department/people because, if somewhere is needed financial help they deal with it. They calculate and give the wages to the employees
Finance and Business Development – This department is important for British Red Cross, because they deal with the money of the people that they have donated to the Fundraising, also calculate the finance work of the organization.
IT Department – One of the most important departments for WKC is that one, because in all the college is needed IT equipment. UK service department – This departments deals with the things only in the UK.
Professional development (separated training department): This department is similar to the HR department, but there are specialist for providing training.
Fundraising - They deal with the resources from charity shops, public appeals, events, trusts and Red Cross training to provide services.
Estates – This department is in charged with the maintenance of the buildings of the college, they area in charged people for changing door/windows/cleaning and etc
Communication Department - They make sure that the information provided by the Red Cross is easy to understand. It helps the media, staff and volunteers, government and donors to keep their knowledge up to date.
Marketing – “The Marketing department’s role is to improve and deliver marketing plans and strategies to help the College meet its target. The department is part of the External Relations Directorate and incorporates a number of units who are specifically targeted with delivering different aspects of the strategic goals”
Marketing – “Marketing involves a range of processes concerned with finding out what consumers want, and then providing it for them”

Thursday, 25 April 2013

Task 1 - Benefits of starting your own business

Extension task 1 evaluation

I will write about what are the benefits to start your own business. The business can be online or branch business, there are different type of businesses like being a Privat or Public Limited Companies/Sole Trader/NGO/Franchasi, but I will write just for a normal business without complications.
  • You are your own boss

    - Your decisions
    - Challenge
    - You do not have to work with someone else if you want
    - You control your working life
    - Flexibility - you decide when to work (hours/days)
    - To be boss means to be powerful than normal person
    - You control everything in the workplace
    - You can do what you are interested in
    - You can do what job you have dreamed before
    - You choose where do locate your business
    - It might change the world, as Levi Roots, Bill Gates, Karen Millen and Lord Alan Sugar.

  • Money (Power)

    - Can be very profitable, if your business success will make profit more than a normal wages.
    - If your business is not about money, then you can be NGO boss and help to people in need. It might be with clothes/water/education/health or etc. You have the posibility to make the world better place
    - If you raise enough money, you can develop your business or create another business as well

  • You can have second career

    - Depends on your business, you can set up your business until you are working somewhere else, by that way you will have 2 careers and 2 job incomes
    - If you are hard worker you can work in your business in day/night time and other job in the opposite shift
 

Task 2 - Benefitsand Risks of online business

Project Extension Task 2


I will write about the possible benefits to the business and customer in developing an online business. I will list some the ideas down.

There are different benefits for an online business for the owner and clients, they are:
  • Saving money (less expenses)

    - You do not have to pay same amount of money if you have just warehouse (gas, electricity, water, council tax)
    - The start up costs will be low, because will need only a warehouse to keep the goods and will need to buy products
    - You do not need to rent/buy a premises to make it a shop
    - No decoration needed
    - Need fewer staff, even they can work at home front of the PC (depends on how busy is the business)

    - The producs online are cheaper than the producs in the shops (same product).
    - Can find offers/discounts
  • Time saving

    - All you have to do a create a web site, that will take few hours only
    - You have to just send the purchases which will take a minutes
    - Your business will work 24/7

    - Flexibility - You can run your business online,even while you are in holiday (same for customers, they can make shopping and they will have the product at the billing address

    - The customers can buy the product at any time
    - They do not have to waste their time on the way to go to the shop
    - Just order and will come to your house without wasting time
  • More options for shopping

    - You can offer to the customers all colou/size of the products
    - You can see what products people prefer
    - Different type of deliveries (1st class/2nd class/Economic way)
    - You can compare the items easily
    - Different methods to pay (Debit card/Credit card/Voucher/PayPal)
    - Better description of the product
    - Buying some old or unused producs cheap
    - Different brands (different choices)
    - Privacy, some people prefer to have some privacy for privat items

There are many benefits of a business to be managed online, even you don't need an office for it. Saves you lots of money, save you time and etc. As aslways something have good and bad points, that type of controlling have risk as well.

There are different risks like:

Legality: One of the biggest risks is that in some places the product you sell might be not illegal to use and that can make you lots of troubles. Shipping to these areas without knowking is legal or not will be one of the biggest mistakes you will do in your life. Some of areas require collection of sales tax on internet sales, that is for legality as well.

Fraud: Another big risk of Internet business is fraud and deception.There are few different way to verify the person who pays by credit card or bank account, you must check the person is it the owner of the bank account.You could send out a product to find you have been given false information, that can be bad and end up of both money and the item.

Startup Costs: While you are designing your website for yourself, many organisations spend lots of money to have a professional website designed by professionals and pay for copywriters to provide them with web copy. You have to pay for domain name and website hosting as well, if your business is not browsed to often or the competition is big or is not in the 1st few pages the chance to visit it is less then the 1st placed ones.

Internet Security: You need to know the potential security risks as well, because if your business needs to collect payment information, customer data your website could be in a risk of targetting by hackers or authors of malicious software.You need to make sure that you online business is safe if you need a security for it, you can protect with secure server and firewall in place

Monday, 22 April 2013

Task 3 - Evaluation

Task 3a

Personal S.W.O.T.


In this extension part of my coursework I will do a personal S.W.O.T. (Strengths/Weakness/Opportunities/Threats) analyse for myself.
 Strengths
  • I.T. Skills
  • Maths Skills
  • Honest
  • Good Leadership
  • Good organiser
  • Well Motivator/motivated
  • Rich knowledge of different languages
  • Good Punctuality
  • Mature
  • Good team worker (Prefer alone)
  • Serious
  • Good sense of humour
  • Good communication skills (speaking/listening especially)
  • Good negotiator
  • Self control
  • Responsible
  • Experience with cash handling (working with cash money)
  • Gentleman at all the time
  • Some business knowledge
  • Good listener
Weakness
  • Need to improve my English
  • Impatient
  • Lack of work experience
  • Not enough good punctuality
  • Can be easily distracted/angry (depends on the situation)

Opportunity

  • I have chance to improve my English at College, take extra lessons
  • I can start to work somewhere to have some more experience
  • I can read books and write some more staff to improve my punctuality
  • I can develop my skills from my strengths
  • Improve the other communication skills
Threats

  • I need to practise all of the languages that I know, because without practise the languages can be forgotten.
  • My weakens, that I can be easily distracted can develop if I don't control my emotions


Task 3b

Find 2 jobs I could do now


In this extension part of my assignment I need to find two jobs that I will be able to do them now with my skills and abilities. I need to describe what the jobs what me to could do and I will describe what I can do.

 https://jobsearch.direct.gov.uk/GetJob.aspx?JobID=1777221
http://www.legendfootwear.co.uk/

Warehouse Assistant Job

In this job place they need someone who can lift and carry the stock into the warehouse, that person will need to be able help to the customers to find what do they need. Good communication skills are needed and usual control of stock have to be done to maximise the availability
I have work in few places where has needed a physical skills (Construction area, fast food delivery companies,warehouses). Last all summer (2012) I have worked in a warehouse before I start college again, my employer was satisfied and let me work some holidays there.


The skills that I cover for that job

- I am good organised person
- I have good calculation skills (have qualifications)
- Good communicator with few different languages
- I am flexible person, I always can change my working hours/replace my mates position, when they are missing
______________________________________________________________


https://jobsearch.direct.gov.uk/GetJob.aspx?JobID=1773780&JobTitle=Coffee+Lounge+assistant&tjt=coffee&where=n17+0ll&rad=20&rad_units=miles&pp=25&sort=rv.dt.di&vw=b&re=134&setype=2&AVSDM=

Coffee lounge assistant.

They need a person who will work one day (Sunday) in a week, the assistant will provide services for the customers by making and selling sandwiches/tea/coffee and etc.

The skills that I cover for that job:

- I have some experiences of making a coffee/tea/sandwiches from my previous school and I have coffee/tea experiences from some jobs.
- My free time is perfect for that job, because I am student in college only 3 days a week and I can do that job in Sunday while I do another job for the rest of my free time.
_________________________________________________



https://jobsearch.direct.gov.uk/GetJob.aspx?JobID=1785269&JobTitle=Part+Time+Sales+Assistant+(Shopfloor%2fYard%2fCar+Park)&tjt=sale+assistant&where=n17+0ll&rad=20&rad_units=miles&pp=25&sort=rv.dt.di&vw=b&re=134&setype=2&AVSDM=

Part Time Sales Assistant (Shopfloor/Yard/Car Park)
Company: Selco Builder's Warehouse

The employee will need to have excellent customer skills (knowledge/organised/flexibility/communication skills). The job is almost physical because the employer will need to sell heavy items and need to carry items in/out of the warehouse. There no working hours are mentioned to cover. The person who will apply for the job at least needs to have some experience of similar job. They need someone with good memery to remember the order of items in the warehouse and need some math skills to calculate control the amount of the products.

The skills that I cover for that job:

- My maths skills are very well (have qualifications)
- I have experience as warehouse assistant for couple of months
- Good communication skills from job/college
- From experience I know how the manage the things at the warehouse


Task 3c

Career Development Plan


In this part of the coursework I will describe my career plan for the next few years. There will be included my education and my job that I want to do.

Currently I am student in WKC and I do business course and functional skills (Maths level 2 and English Level 1). Firstly I want to finish my education in Westminster Kingsway College (Kings Cross Centre) for Business Enterprise and ICT level 2 with good degree (Merit or Distinction). I would like to apply for next year course in Westminster Kingsway College (Victoria Centre) for Access to Higher Education Diploma Business level 3 and do Functional skills (English level 2).

I have no plans after this course, because I am considering to improve my knowledge about business in University or start my own original business I have planned in these days. I might keep studying in university and make a new target to develop myself in finance area, but I might start my own business that I have shared with my parents and took some ideas from people who have similar business.

If I do my business idea, after one or two years when I am sure that I survived with my small business, I will keep developing my business and open new branches to increase my profit. I would like to start to do some other course related with my education and do some other job while my own business run it self.

I plan to improve my languages that I know (Bulgarian, English, Turkish and retake Russian language courses), after undertood these languages properly I might take course for my dream language (Spanish). I dream is to learn this language, because sound lovely language, I have plenty Spanish talker friends and there are many countries that speak it (I have open branches in these country as well, if my business is successful)




Friday, 12 April 2013

Task 5 - Compare the web sites


Project Extension Task 5 



I will have to use 3 different business web sites. I have choose the websites from my Task 1 and I will compare these 3 sites by (images, videos, fonts and etc.)

The web sites are:

http://www.postoffice.co.uk/

http://www.superdrug.com/

http://www.redcross.org.uk/

Post Office's Web Site: The website of that business have simple few images, which are not with big size and open easily when you are in the site. There are no videos to complicate the site, they have used the home page cleverly to advertise different type of services. The font and the size are quite good, they are not coloured to make it to look beautiful, but they made it to look simple for the users. The navigation of the web site is with drop down boxes The purpose of the site is to provide services and help to make sales by Internet. 

Superdrug's Web Site: This web site also is simple to use, but not like the post office's one, because there are plenty of advertises. The images are with small size and it helps to the website to load fast, even without videos works more fast as that one is. The font is simple as the post office's is and the navigation of that site is also with drop down boxes. The purpose of that site is to make online sales for the clients.

British Red Cross's Web Site: This web have different type of images with different sizes to advert the happens, needs and etc. in the world. Normally this website have few videos to help the people to understand their purpose/target. One more time the font is easy to read. The colours are one of the most used colours in the web sites.


Superdrug's web site is more colourful than the other 2 websites, there have plenty of adverts but the others even do not have half of it. I think that the British Red Cross's web site is the most complicated one because there have different services like providing health and safety services, applying services, donations and etc. Post office's web site mainly is for providing information to the community, about what kind of services they do. They also have a sepparete site for shopping, for a different goods that superdrug doesn't offers.

 

Sunday, 17 March 2013

Task 2b - Business Plan

Task 2b

https://www.dropbox.com/s/41lqvaccj4ryvu6/task%202b%20Abridged%20HSBC%20Business%20Plan%20Template%20v3.0.doc


                                                         Business Plan

Your business logo
Business name: Balkan State's Sandwiches
Address 1: 286 HIGH ROAD
City/town: TOTTENHAM LONDON
Post code  N15 4UR
Mobile: 07428 590959
Web site: http://senel1994.wix.com/senel


Contents:                                                       Pages:


1. Summary ............................................................ 4

2. Business Overview ............................................. 5
- Introduction
- Competitive Advantage

4. Marketing ............................................................ 6
-SWOT analysis and Critical Success Factors
- Market Research

5. Team and Management Structure ...................... 7

-Skills, Experience, Training and Retention
- Advisors
- Management System


6. Financial Budgets and Forecast ......................... 8

- Profit and Loss Forecasting 
- Cash Flow Forecasting
- Break Even Analysis



Business Overview

  • Introduction:

My business will be a sandwich bar, which is named "Balkan State's Sandwiches". The location of my bar will be in Tottenham, North(east) London, the reason to be located there is simple because the rent is not expensive and have many people from the East Europe (where the Balkan State is located in). This business is in tertiary sector, because is kind of restaurant.

I have chose that kind of business because people love to eat, some people like to try different type of foods and some people just miss their country's sandwiches like me.

I decide to put some Aims and Objectives for my business to be achieved and they are:

Aims:
- To be still in the business for the next 1-2 years.
- To increase the sells by 20-30% after the surviving.
- Expand the business after 3-4 years maximum.

Objectives:
- Beat the competition with the other similar businesses.
- Add some more type of sandwiches.
- After making good profit expand the shop or open 2nd branch in different sensible place.

  • Competitive Advantages:
- The advantages of my business are simple, I will be the only seller of this type of food in that area. My sandwich bar will be located on the high road, where the station is and its in easy find-able place for the public. Around will have different schools and just 200-300 meter away have a college. The quality in the shop will be very well.


Marketing

  • Swot Analyses and critical success factors:
In this part of the assignment I will analyse my business by SWOT analyse system.
Swat= Strengths, Weaknesses, Opportunities, Threats
Strengths:
- I love to eat either cook.
- I have tasted many type of sandwiches and I have some knowledge about sandwiches (especially in type sandwiches I will make)

Weaknesses:
- I have never run a business before.
- Have not worked with that amount products (sandwiches)
- I have no experience to make exactly that kind of sandwiches, because they are not easy to make at home and need someone with good experience.

Opportunities:
- Around my sandwich bar will have many students, which is a good opportunity for me to offer them take away meals.
- My premises is located in the High Road of Tottenham, there have many different type of shops which means there will have customers and will be near the employees working in the shops.

Threats:
- These sandwiches will be new to the people and they might NOT like them.
- The bar is in the High Road and there will have vehicles (noises, bad gas smells)
- I have to satisfy all the needs of the public if I want to beat the competition.
- There have a risk that the council to do not give a license for my business.


  • Promotion Strategy:
This is my marketing strategy for my business. By advertising my business in different ways I will make my business well known.
I have few ideas how to share my business by the cheapest way I found.
  1. Leaflet: I can use leaflet with small sizes to deal out to the houses around my business.
  2. Social networks – I can publish my business in Facebook, Twitter,etc.
  3. Word of mouth: That is the cheapest and a fast way to spread it.
  4. Posters: This way will catch the attention of the customers.
  5. Newspaper: My business is with Bulgarian sandwiches and I will publish my business in the Bulgarian newspaper.
After publishing my business I will not stop advertising it in the Social Network and in The Newspaper, because every year are coming hundreds, thousands new people which will not know about my business. Some people grow up and they won't know my business as well, that's why is a good idea to do not stop promoting it.

Team and Management Structure



  • Skills, experience and training


I will be the manager in my work place and that's why I will be the sale assistant, I have the next skills and experience:




- I have good maths skills.

- I have an experience with communication with the public.

- I am sensible person, that is good for my staff and they will be more comfortable.

- I am hard-worker as well.
- Good organisation skills





 In my Sandwich bar I will need a baker, who will work in the back side of the bar (cooking) and a sales assistant to in the front part.
Sandwich Maker:
- Hard-worker
- Good knowledge about the machinery used in.
- Punctual person
- Flexible
- To have at least 1 year experience
Sales assistant:
- Good maths skills
- Organised
- Honest
- Always smiley to show that to the customers
- Good communication skills
  • Job Description
The staff in my business will be always in the shop, they will not need to go somewhere (travel) for work. The baker will be on the back side of the shop, make sandwiches and the sales assistant will be in the front line. The baker will work to the afternoon till 2,3 maximum and the sale assistant will be there to 4,5 maximum. The salaries will be suitable for both of the positions and they will have holiday as well.
The sale assistant will work 6,7 days a week and Monday to Friday 07:00-17,18:00.

Sale assistant

The sale assistant will work 7 days a week from 06:00 to 16:00. The task of the sale assistant will be simple because the bar is not large, there will not have plenty productst that needed to be described to the customer if they want so. The annual salary will be £15,000 - £20,000, depending on their experience and skills the annual salary will be decided how much to be. Here is described what the sale staff will need to do in the workplace:
- Greeting customers who enter the shop
- Offer to the customers what do they want
- Be polly with the customers
- Answer queries from customers
- Being responsible for the processing cash.
- Dealing with customers
- Keeping the bar clean and tidy
- If a real problem comes up the sales assistant should to tell to the manager
The sandwich maker will work 7 days a week from 5:00 am to 12:00,13:00. The task of the sandwich maker will be to make enough sandwiches to sell in the a day. The sandwich maker's annual salary will be £20,000-£30,000. There are not many things that the maker needs to do and they are:
- Make sandwiches
- Keep the hygiene in the workplace
- Report the amount of the products which will be needed
- Come on time
  • Management and Legal Requirements
  • My small business is a Sole Trade business organisation and it is in the Tertiary Sector. It's in the Tertiary Sector because I provide selling service to the public.
    I will need to register my Sole Trader business name in the Local Business Register to ensure that the name is original (None business have the same name) and the name don't contain any none approved words. If there is any problem with the name, immediately will be token some actions (will be needed to choose another name).
    I have already decided what type of business would be (Sole Trader) and what will be the name of my business. I can register my name online or download the application to send it my post.
     



  • Financial Budget and Forecasting and Profit and loss forecasting


  • Break Even Analysis
I have made a break even analysis for the first 6 months of my business.
In the first 3 months the business will make less income, because it's not well known. My business start to make a profit in the 4th month. I have made £11,080.00 Net profit for 6 months.

My break even analysis graph shows roughly 8,000 sandwiches I need to sell to turn my loss into profit.