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Business Assignment 1

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Submitted By duncanlad123
Words 548
Pages 3
Unit Title

|Starting a Small Business |

Criteria Partially Covered

|P4 M3 |
| |
|P4 – describe the legal and financial aspects that will affect the start up of the business |
| |
|M3 - M3 assess the implications of legal and financial aspects that will affect the start up of the business. |
| |

Task Introduction

|You have been preparing a business proposal to show to your bank manager. The final part of your proposal will cover legal |
|aspects of your business start up. |

Legal aspects: legal status eg sole trader, partnership, limited company, franchise, cooperative; legal liabilities; trading terms and conditions; trading standards; licences; record keeping; resolving problems; national/local laws; regulations and bylaws; health and safety; fire regulations; licensing; liabilities; planning permission, contracts, duties and responsibilities; regulatory bodies; sources of advice

Learners should consider exploring a number of legal aspects:

• national/local laws
• regulations and bylaws
• health and safety
• fire regulations
• licensing
• liabilities eg tax and VAT, insurances
• planning permission,

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