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Small Business Case Study (Doc)

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Added on  2020-10-23

Small Business Case Study (Doc)

   Added on 2020-10-23

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Small Business(Case Study)
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Setting up new business..........................................................................................................1TASK 2 ...........................................................................................................................................3Market research to develop business......................................................................................3TASK 3............................................................................................................................................4Ethical dilemma with appropriate solution.............................................................................4TASK 4............................................................................................................................................5Employment practices............................................................................................................5TASK 5............................................................................................................................................6Company's assets, liabilities, expenses and gains..................................................................6CONCLUSION................................................................................................................................7
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INTRODUCTIONToday, with developing economy of nation, every entrepreneur has got advantage tolaunch business successfully. For this purpose, they conduct various activities to get idea foropening a new venture. Since small businesses help nations in improving and developingeconomy in a rapid manner (Germak and Robinson, 2014). Therefore, government of UK alsogives supports to its entrepreneurs in launching their companies. The present report is going toevaluate how an entrepreneur plan to launch its new business. In this regard, description of alldata is presented which are required to open a venture with employment practices and a cashflow management. Some ethical dilemma with relevant solutions are also highlighted. TASK 1Setting up new businessStarting up a new business is considered as both exciting and frightening for anentrepreneur. As it is associated with huge risks which may either give advantage to gainprofitability or face huge loss also. Therefore, to open a business, it is essential for a person toconcern on various aspects (Brunswicker and Vanhaverbeke, 2015). It includes location wherebusiness can be operated, employees who give support to run, appropriate budget, quality controland more. To ensure success of business, it is of the utmost importance for an entrepreneur tobecome aware of all regulations, requirements as well as aspects of operating a business beforebeginning it. Along with this, they must ensure that to get licenses, permits and registrationsapplied for approved of business as well. In this regard, a newly entrepreneur wants to open abusiness in fast food sector as Foodie Hamburger. For start-up, near about 20,000 Euro has puton in budget. This restaurant will be launched in London Street where many fast food stores arealready running. The purpose behind opening this store in high competitive area to reach targetedcustomers more easily. This new fast food company mainly targets to youngsters and business class people. Asthese people rarely gets chance to eat home-made products due to busy schedule. Therefore, thiswould give advantage to fast food companies to target them. It helps entrepreneurs of FoodieHamburger also to attract targeted audience by offering products on high discounts on occasionsand affordable price rates on normal days. It will provide chance to enhance sales performance aswell as give tough competition to other food restaurants also. 1
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