Introduction to Business - Assessment 2 Report

Your Name & student ID Introduction to Business – Assessment 2 Individual Report
Title Page
Introduction to Business
Assessment 2 – Individual Report
Start-up Business Type & Business Name
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Your Name & student ID Introduction to Business – Assessment 2 Individual Report
Table of Contents
Introduction...........................................................................................................................................3
Overview of the Report.....................................................................................................................3
Background of the Company.............................................................................................................3
Main Body (Business Plan).....................................................................................................................4
Different Types of Businesses............................................................................................................4
Your Business Structure.....................................................................................................................4
Macro Environment...........................................................................................................................4
Micro Environment............................................................................................................................4
Impacts on your Business..................................................................................................................4
Conclusion.............................................................................................................................................5
Overall argument summary...............................................................................................................5
Recommendations.............................................................................................................................5
References List......................................................................................................................................6
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Your Name & student ID Introduction to Business – Assessment 2 Individual Report
Introduction
Overview of the Report
Business refers as the process through which the one can make their earning by delivering
certain products and services in the market. It simply an enterprise who are engaged in commercial
or in other industrial activities. It simply of different type which one can pursue depends on their
business skills and financial capacity (Khan and Majava, 2021). Everything is baked a bakery who
sells the various baked product and reliable services to their customer. This report will cover the
understanding about the business, it lay out the business plan for the start up which will cover the
business type, structure, macro and micro environment and their impact over business.
Background of the Company
“Everything is baked” a new start up which is located in England, UK. Firm has around 20 member
staff team, who are efficient and passionate about their work. Firm offers a good range of bakery
products, in which they use their farms’ dairy product. They produce the product which do not affect
the health of people, for that they also offer the low calories goods.
Main Body (Business Plan)
Different Types of Businesses
Generally there are four type of business which is sole proprietorship, partnership, Limited
Liability Company and corporation. It is depend on the person where to star or on their capital
investment.
Sole proprietorship: It is the common type of business which the one follow as it do not required
the paperwork to develop the legal entities. In which the enterprise is run by the one person that
means single owner pays taxes and bills from the revenue which is generated from the business. This
business type offers the lots of benefits; it is simplest and least expensive business structure.
Partnership: In this there is more than one owner, in which the both parties share the ownership
and responsibilities for managing their business. It further divided into the joint venture, limited
time partnership type. It is better to have two parties as it gets easier to make decision as well as
initial costs are low (Tavera Romero and et.al 2020). Another advantage of this business type is
burden and pressure will be share so it produces the optimum result. It’s better to begin with this
business, as it is efficient in building a capital for business.
Joint venture: in this two parties combined their business and form a single entity, decisions
drives mutually from both owner, and also they shares the associated risk equally to maintain their
business.
Limited liability Company: It is the business structure for the private limited companies; it allows
the businesses to take some benefit of sole trader while limiting the legal liabilities. It also refers as
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