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Legal Indenties

In:

Submitted By bd931
Words 3233
Pages 13
Contents
Mission statement Page 1
Business profile Page 1
Aims and objectives Page 1 unique selling point Page 2
Basic specification of the Jacket Page 2
Production and selling process Page 2
Pricing page 2
Vision page 3
Equipment page 4
Payment to creditors page 4
Physical resources page 5
Location page 6
Accountancy page 7
Marketing page 8
Swot analysis page 8

Business Name: Flames LTD

Presented By: Daniel Bunting

Contact Details:

Date: 23/2/2011

Asking for a sum of £12,000

Mission statement

To warm the cold people of the world. An innovative jacket called Flames.

SECTION 1: THE BUSINESS PROFILE

Form of ownership
The form of ownership that Flames will be a partnership. The reason for this is because there are initially, four of us in this business and we are all investing the same amount of time in the business. A partnership of this type is easy and quick to set up. We are also investing the same amount of money and time in the business. I also want to be part of a partnership because partnerships generally have lower taxation rates, because they don't get taxed on profits. Also as a partnership we are able to raise more and faster finance. Flames will also lend itself for partnership as we have all the skills between the proposed partners that we need.

There are also many disadvantages of being a partnership as Business Partners are jointly and individually liable for the actions of the other partners. We aim to get over this by agreeing that all decisions are to have consent by all partners. This then, has a disadvantage as it takes time, but it is the only way decisions are going to be made. Also one partner may disagree on a decision that could lead to arguments. We are at risk of losing money, as partnerships have limited liability, this could also be an advantage as debts that we will occur we be less as they

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