6 Your business
You may now like to take the ideas discussed so far and link them to your own business idea. You can do this through two activities.
- Activity 6: Create your own business case study in a similar format to the example case studies.
- Activity 7: Answer the questions for the case study you created.
Activity 6
Creating your own personal case study
Complete the case study information for a business you have recently started, are thinking of starting or have knowledge of through friends or family.
| Name of business | |
| Brief description of business and its objectives | |
| Staffing of business | |
| Business assets | |
| Essential skills | |
| Mandatory licences or insurance arrangements | |
| Expected turnover for year 1, year 2 and year 3 |
To get the most out of this course we encourage you to keep notes on the ideas you have and the activities you complete. These notes could be very useful as you move your business idea.
This particular activity is also used in the other sections of this course and may have already been completed. It is suggested that you use the same ideas for each section, though you may wish to change or develop your ideas as you go through the different sections.
Activity 7
Use the personal case study you have developed to answer the questions and suggest how you might arrange the finances and resources for the business.
| Key question | Answers | Implications | |
| What are the owner responsibilities for the business? | |||
| Is the business likely to have employees? | |||
| Should the business retain an accountant? | |||
| Should the business be registered for VAT? | |||
| What services will be outsourced? | |||
| How will the owner of the business get money from the business? | |||
| Summary | |||
5.1 Choices to be made