ipl-logo

M3 Unit 3 Business Essay

2196 Words9 Pages

M3- Assess the implications of the legal and financial aspects that will affect the start-up of the business

In this task I’m going to discuss the impact that legal and financial aspects will have on the start-up business. Also I need to describe systems that should be put in place to address these aspects, such as recording systems for tax and VAT liabilities. Also I need to include a summary of how these systems will be used in the over overall business plan.

Being the manager for my business I know there are many legal area which I must follow especially when I start my own business in the future. Also being a manager I need to make decision on legal status of my business and if I’m a partnership, a cooperative business or even sole trader. …show more content…

Also being as a sole trader it is essential that I need to keep records of the accounts within the business that also lead to look at my organisational skills. There are many stages that need to take in order to become a sole trader. To be as a sole trader I need to first start with a choosing name that has not been taken by any business. This is because without a business name customers who will come into my business will not know my actual business name and won’t even know whether if the business exist or not. As I mentioned earlier I must ensure that I pick name that did not taken by any other business so that it won’t lead to any confusion on customers. Also I have to be consider name very carefully as I do not want to offend anyone which could end up me to go court. When it comes to VAT and Tax it also known as a sole trader, I will need to pay tax on any amount if that my business generates. If I don’t pay VAT and Tax I will be charged a default surcharge a percentage of the owed VAT. If several payments are made late then I will be charged an even higher penalty rate surcharge. If I conduct my business for several months afterwards and don’t pay VAT at all these penalties can add up, and failure to address the situation completely can result in criminal charges in rare

Show More
Related
282 Words | 2 Pages

1. 31 counties, 2551652 is total 2010 population, Washington county in Arkansas has largest area of 956.1 square miles 2. New York has largest number of African Americans, District of Columbia (DC) has largest percen tage of African Americans 3. Middle Atlantic has 3014385 4. - FIPS code is the field that can use to join table with dating table.

Read More
466 Words | 2 Pages

Conor 2.Use a cluster diagram to record the issues that conservatives strongly endorsed. Moral Majority 2.Choose one issue and explain in a paragraph the conservative position on that issue. The Conservatives supported the Conservative Collation as way to change the face of people's general way of thinking. Conservatives wanted less of a federal government because they believed the people and the American economy deserved more freedom from the American economy. The Conservatives wanted families to be more patriotic and promote traditional values.

Read More
784 Words | 4 Pages

Throughout the night, Mary dreamt of Bill . Her mind raced through memories from the first time their eyes met, how those sweet blue eyes sparkled when he laughed, and how they were in love and drifted apart. She also remembered 4 years ago, when she had seen him while away on business in Orlando, Florida. She thought it had been destiny at the time, seeing each other thousands of miles away from their original homes and being in the same hotel.

Read More
132 Words | 1 Pages

1. Researches excluded students that are diagnose with mental problems because the researches don 't want to make them uncomfortable on what students without mental health problems feel. I also believe that students with mental health problems were excluded because they will not give an accurate answer. 2. I believe that people think about that people with mental health problems are crazy, can 't think right, mean, weird, and dumb.

Read More
1355 Words | 6 Pages

Unit 12 Website Production Web Architecture Internet service providers These are companies that provide internet services usually including a business package as well which are usually more expensive. Once you have joined an internet service provider they will usually provide you with a username and password for you to access your router’s settings. Most ISP’s these days will actually provide you with one of their routers to use in case yours is not compatible for some reason. Most internet service providers send their services through a telephone line although virgin media send their services through fibre optic cables, meaning you don’t need a telephone line if you don’t want one.

Read More
964 Words | 4 Pages

While the business can have employees, the owner cannot be an employee, nor can he or she have any partners. If the business will be a name other than the legal name of the business owner, the owner will need to register the business name under the Business Names Act and obtain a Master Business Licence. This licence must be renewed every five years. In

Read More
1718 Words | 7 Pages

Assignment 1 – D1 When creating a business there are many tough decisions to go through, such as funding and other matters that involve money. But one of the most important decisions is deciding whether your company will be a store on the high street, or just an online website and everything is stored in warehouses and then delivered right to the customer’s door; or you can be a bit of both. In this document I will run through both of these options and expand on how to define these options. Firstly before we can decide how the company is run, we have to know the terms that define them.

Read More
662 Words | 3 Pages

Here, are the rules for Building a Business: COMMIT to your Business. Believe in it more than anybody else. If you love your work

Read More
448 Words | 2 Pages

Dear Coles College of Business Admissions: I am writing to inform you of my intention of applying to Coles College of Business. I am currently researching positions in the field of management and information systems, hoping to secure a career as a business analysis. Not long ago was I unsure of what I wanted to do, as many young adults are, and during my sophomore year my passion for business arouse. With very few business women and men in my family, my likeliness to become a business women was very slim to none.

Read More
1724 Words | 7 Pages

Since its completion in 1995, the Anderson School of Management has been a prominent feature on the UCLA campus. Following a several million-dollar donation from John E. Anderson, plans for the new buildings began in 1987. Not only is this one of the newest additions to the campus, but it is also more than just another building. Anderson School of Management sets itself apart in that it is a multilevel complex that contains seven buildings stretched across over 280,000 square feet. This campus within a campus sits close to Sunset Boulevard yet still manages to feel far from any busy traffic or outside distractions.

Read More
844 Words | 4 Pages

Tilly has developed a business plan to start her business and is deciding on the structure and how she will finance the start up.   Additionally, Tilly would like to structure her business in a way to protect her personal assets, “A sole proprietorship is the most common form of business organization. It’s easy to form and offers complete control to the owner” (www.irs.gov). A sole proprietorship is one of the business structures mentioned as an option for Tilly.

Read More
1603 Words | 7 Pages

MY PERSONAL STATEMENT From an early age, the environment of commerce has always been a part of who I am. I came from a background where my family have been actively involved in Trade for the last sixty years. However, they have always limited themselves to just being vendors, wholesaling and retailing of goods. After moving to Trinidad, my mother followed the same pattern, operating business as a vendor. Decided on having a career in business, I began to evaluate my family's history of repetitiveness in order to help me understand what I wanted to do.

Read More
230 Words | 1 Pages

The major factors of the social enviroment that creates an atmosphere where business critisism takes place are and prospered, some independent and some interrelated. Affluence and Education, Awareness, Revolution of rising expectations, entitlement mentality, rights movement, Victimization Philosphy, levels of power, Speres of Power, and the Balance of power and responcibility are factors in business Critism, all of this goes hand and hand. Because our society has become better educated it also became more prosperous and because of this there are higher expectations of major institutions including buisiness. Afluence is what society has influenced us with the U.S. standards of living which dictates our disposable income and how we

Read More
764 Words | 4 Pages

Good cameras, different kind of lenses, lighting equipments, a computer and softwares for editing are some of the most crucial investments in the photography business. • Layout a business plans covering financial strategies – No business can strive if not planned and strategized properly. And this covers proper documentation as well. If one is serious to start a photography business one must make a plan covering operations, investments, provisions and pricing plans. Although sometimes things do not work out as per plans.

Read More
1044 Words | 5 Pages

A. Enterprise Architecture Enterprise architecture (EA) [18] is a well-defined practice for conducting analysis, design, and implementation of software solution. It helps for the successful execution of strategy by identifying and analyzing changes for getting desired business outcomes. [2] EA is classified as 1. Business Architecture: It provides common understanding of an enterprise and is used to align strategic objectives.

Read More

More about M3 Unit 3 Business Essay

Related Topics

Open Document