Business Structure And Description Assessment Answer

Assignment Task

Assignment 1

Identify and describe a business idea that you would consider putting into practice. If you are currently operating a small business, you might describe that business.

Write a report of at least 2,000 words, explaining how the chosen small business works or is intended to work.

In your report:

• include a brief description of the business.

• describe the business structure and give the reasons behind the choice.

• outline the process involved in choosing and registering the business name.

• list the consumer legislation and regulations which apply.

• describe the systems which are in place (or will be put into place) to comply with legal rights and responsibilities.

• show how you would support the appropriate management of cultural differences, health and safety, and environmental regulations.

• list the taxes which apply (or will apply) with a brief description of each.

• describe the bookkeeping methods that are used (or will be used)

• list the particular insurance requirements of the business.

• describe how the business will be monitored to ensure it complies with all legal requirements.

• explain the type of legal advice that would be, sought to clarify business liabilities.

• include a brief description of procurements rights and how to ensure the protection of business rights wherever applicable.

• list the different contracts that the business has entered into (or hopes to enter into) and the nature of each.

• state whether the business leases or has bought its premises (or intends to lease or buy premises) and the reason behind the choice.

• list the risk management strategies that are in place, including requirements and products.

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