Starting your small business
Present your initial business idea using relevant criteria.
Organization Description and type:
* What the business does as well as the type? We. e. New/Existing/Franchise
Business Seeks and Objectives:
* Purpose of the business and SMART goals
Business USP and Competitive Edge:
2. The features of the business besides making it unlike the competition
Demand for the new business
* Description of the type of people you can target and why is there demand coming from these people plus your business idea Checking for Profitability
* You should consist of outline of basic costs against potential sales. May be the business thought profitable and why? Organization Trends and External Influences
* PESTLE Research -Outline in the external impacts and tendencies affecting the business These include:
You must explain how some of these factors (PESTLE) might affect: 5. Customers, by way of example higher energy costs means customers possess less money to pay. Or the growth of internet shopping. 2. Staff: Duty and career laws
5. Business: Laws, new technology, taxation
* The Market you function in, laws and regulations, technology, political agenda( healthier eating, taxes on sugary drinks), Environment * Competitors: laws, personal and economic factors that may affect the competition
Overview of so why you want to build the business. This should include things like so why you want to set up the business which includes why you want to be self-employed and the skills you really the business successful and how aware you will be of handling your personal requirements against business needs.