Unit 36: Starting a Small Business

Assignment front sheet
QualificationUnit number and title
Pearson, BTEC, Level 3 (QCF) Unit 36: Starting a Small Business
Learner name Assessor name
Mr. Malik Muhammad Zafarullah Khan
Date issued Hand in deadlineSubmitted on
2 Feb 2020 5th April 2020
Assignment titleGenerating Business Idea
The aim of this unit is to enable learners to understand the skills needed to set up and run a
business, and the regulations that need to be complied with, and to have the opportunity to
prepare a detailed business plan.
Criteria
reference
To achieve the criteria the evidence must show
that the learner is able to:
Task
no. Evidence
LO1 Be able to present the initial business idea using
relevant criteria 1 Report,
LO2 and LO3
Understand the skills and personal development
needed to run the business successfully
Know the legal and financial aspects that will affect
the start-up of the business
2 Report,
LO4 Be able to produce an outline business start-up 3 Report, Power

proposal Point, Survey
tfiLearner declaration
I certify that the work submitted for this assignment is my own. I have clearly referenced any sources
used in the work. I understand that false declaration is a form of malpractice.
Learner signature: intesar saeed Date:

Abstract
So my assignment is about my organization that is a clinic for women that I chose
as I was interested in it. Then I give the introduction of my organization by
explaining what the organization is about and how it will work, I will also have to
decide what type of a business I will go for and have to decide how many people
will be needed in this to help me build my organization I will also have to know
what product and service my organization will provide to the people and then work
accordingly and also know the aims of my business. The next important aspect of
our business is the target market that will help our organization in choosing the
perfect technique for my business that I am going to choose. Then I will have to set
a timeline for my clinic, our clinic has employed professional medical staff who
should be paid according to their excellence in their field of medics. By doing all
this I will make sure I give a good competition to my competitors and having a
successful business towards the end of it.

Scenario
Contemplate that you are a business development manager in the UAE located organization and
also that your UAE located organization is considering growing the business for better
opportunities.
Now imagine your unit head has designated you with a duty of preparing a market plan and also
a master plan for example starting of a new business partnership and also a composition of a
latest product or service line. Now later, right after forthcoming with a market plan and also a
strategy you have another task to put together that is an elaborated report on a newly advanced
business model and how the business or the organization will help the company.
Last but not the least you will have to present your business plan to raise funds for the new
project.
Your first challenge is to get your idea into defined business criteria, such as the type of
business, the attraction of the business plan, the target market and the need to meet needs of both
individuals and companies. You will also assess your ability to run the company, including the
skills you already possess that will help the business idea and what new personal growth you
may need to pursue to make the venture a success.

TASK #1
Present the initial business idea using relevant criteria
The business I desire to go for is women health maintenance organization that is very important
to women. This organization includes the prevention of diseases and illnesses that occur in a
woman’s body due to lack or increase of some portions in our bodies. Now woman health
maintenance organization is a sort of health insurance that maximizes and comes under the
network of doctors, clinics and health care providers such as nurses etc.
a) Explain the type of business you have chosen
There are 4 type of business organization
I. Sole proprietorship
II. Partnership
III. Corporation
IV. Hybrids
Limited Partnership
Limited Liability Partnership – LLP
Limited Liability Partnership Company – LLC
Professional Corporation – PC
1. Sole proprietorship:
Now a lot of organizations use this form as this form gives organizations the superiority
of being undemanding to start the set up. Now this type of a business is run by just one
owner who benefits the profit and also goes through the losses himself. People also tend
to choose this type of a business is because it is the easiest as the owner can be in charge
of all the decision making regarding the business.
Pros:
Cheapest form of organization.
Owner has full control over the business.
Easy to end the business.
Very less government control.
Cons:
Capital raising capability is minimal.
Your entire responsibility for making daily business decisions lies with you.
You have limitless debt liability, because there is no legal distinction between private and
commercial properties.
2. Partnership:

In this type of a business you need to have two or more owners or partners. Now in this form the
other partners can also repay all the firm’s neglected debts. This partnership never ends until and
unless one of the partner dies or files for a resignation.
Pros:
Cheap and uncomplicated.
Less government involvement.
No income taxes.
Easier to handle losses with a partner.
Cons:
Profits are shared.
Tax benefits.
Difficult to find trustworthy partner.
There are two types of partnerships:
1. General partnership:
A general partnership is when all your gains and losses are shared with your fellow partner when
you are in a business with someone and not alone. In this partnership both the partners agree to
share all the properties, profits, financial and legal obligations of the joint venture.
2. Limited partnership:
This partnership includes two different types of partners that are the general partner and the
limited partner. One or more general partners will help in running the business and have limitless
responsibilities, but the limited partners one or more will not sincerely engage in the business.
3. Corporations:
A corporation that has a legal operation that is unconnected to the owner. Now the corporation
business should always be legally organized.
Pros:
Restricted accountability.
Ownership can be changed whenever.
Uncomplicated raise in founds.
Cons:
Expensive.
Difference of opinion between directors and shareholders.
A lot of complex while organizing.
a) Limited Liability partnership – LLP:
Every partner in the LLP is given the opportunity to take a section in the management of the
company. LLPs are more convenient for businesses where all the shareholders tend to take part
in the management.

Pros:
All professionals involved.
Tax benefit.
Detachment of lawful organization.
Cons:
A lot of documentation required
Only suited for some businesses and not all
b) Limited Liability Companies – LLC:
All small businesses use this LLC format. This format is for businesses that have two or more
owners and businesses that are mid-sized not that big. Their business and personal life is not
connected as if the business is not doing well they won’t have much impact on the personal
wealth.
Pros:
Tax options available.
Management structure is adaptable.
Limited responsibility.
Cons:
Not available for all types of businesses.
c) Professional corporation – PC:
This is an organization that only provides with professional service that is of a doctor, lawyer
etc.
Reason: I choose sole proprietorship because it will help me start my business easily, it will
have flexible working hours, it’s very professional and it will make sure that I have full control
over my business.
What products/services will the business provide?
This organization will provide all services related to women health care, it will give you positive
results and assurance from our side for all the help that we can provide you with. We will have
laboratories that will conduct blood tests, urinal tests, ultrasounds, chemo therapies, cholesterol
tests, allergy tests etc.
How many people will be needed to run the business and why?
The staff needed will be in big numbers as there are a lot of tasks to perform like, to conduct the
tests, to handle the reception area, to handle the accounts department, to work in labs, a lot of
people will be needed and we will assure you that they will be professionals that will help you in
every aspect.

What will the business be called
The name that I’d like to give my organization is the “WHCC” that stands for the Women Health
Care clinic as this clinic is all about caring and good health that we plan on providing to our
patients that come for treatments to our hospital. Our clinic will be all about women so the
specialist that we will have will be a gynecologist that will deal with all the patients. My clinic
will be located towards Dubai since the economy is enormous towards that side.
Explain the aims of your business
The objective of this health care line is only positive results and happy faces. Our only aim is to
help women in every way possible and cure them from the diseases and illnesses so they can live
a happy and a peaceful life since health is a very important aspect of life. There are so many
problems and illnesses in a woman’s body that need special care and treatment that we tend to
cure in our clinic and also help them mentally grow since a woman is someone who runs the
entire family.