Start-up Business Requirements

Start-up business requirements 1
START-UP BUSINESS REQUIREMENTS
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Start-up business requirements 2
START-UP BUSINESS REQUIREMENTS
Introduction
Starting a business is an appropriate idea for every enterprising individual to succeed. A
business can be part of personal earning and development. Considering the past experiences,
some individuals start a business and fail to do well against the previous plan of the founder.
However, some people venture into the business and prosper within a short span of time. The
difference is that there are some factors which need to be considered for any business success.
Participating in business helps many people to develop their knowledge on mostly the area of
academic understanding. Those with adequate knowledge on a specific area of study establish a
business in that area. Conversely, some of the prospering business ventures have been started by
entrepreneurs who have low professional knowledge about the industry. In such cases, the
company is guided by the interest and passion of the entrepreneur (Grunert, 2007).
LO1 A discussion of the different decisions to be made.
Some businesses such as a shop sell to sell high-quality foods require important
information and research techniques before it is established. In order to succeed in the food
industry, some consideration like such registration of the business is a paramount approach. The
registration helps most of the business operators to prove that they poses the business they are
running and they can defend it at all times. In addition, the registration assists the government
especially UK government to evaluate the owner of the enterprise. Clear business identification
can be required by the government to understand the loyalty of the citizen in relation to tax
payments. The knowledge to have before establishing the business should be adequate for an
individual to know which type of business to register and also the government regulations under

Start-up business requirements 3
the choice of business. (Johnson 1997). When an individual registers a business is reliable to
government taxation with regard to the type of goods or service the entrepreneur is offering. This
attempt is a critical decision to make so that one can understand the requirements of a sole
proprietor.
In line with the food industry, a good decision of the type of food to offer should be
considered. Some individuals prefer specific types of food prepared in specific places. The issue
of deciding on the food premises to establish the venture contributes to the amount of income
realized in by the company. When the food is prepared in a strategic place and the environment
is clean, many people may decide to enter for the every time dish which may help the founder
gather a lot of money from the encouraged customers. Strategic premises are expensive to pay
monthly charges so an individual should evaluate his financial status before setting up the
business. Such consideration may eliminate the close of the business due to low returns. An
operator should poses good research skills to gather information on the type of food which sales
in the area of business. Such knowledge help in motivating the customers to frequently visit the
shop for food. (Zairi, 1997).
Despite the fact that customers require food prepared in a conducive environment, the
UK government imposes some restrictions on the food industry. According to health act
discussed by Yapp (2006), which is administered by local health authorities, governs all the food
industry premises to ensure citizens receive quality food. Such a decision should be considered
to enable the operator to do the business under the set regulations. Any food operator should
examine himself or herself if he can meet the requirements set up by the local government. The
authorities license the business and provide a response to any complaint resulting from the food

Start-up business requirements 4
industry. Additionally, they take part in inspecting the premises a business is operating under. A
food operator should consider if is willing to acquire a health operating permit which is vital in
the business (Armour, 2006).
The UK government imposed serious regulations concerning the importation of food
substances. A prospected food Operator should check with the government authorities to
evaluate whether he can meet the stated guidelines. However, the Act contains less strict
guidelines on the food products imported from countries under the European Union. Some
important documents such health certificate and import licenses should be factored in during the
decision process. The document explains the interpretation besides implementation of specific
processes applying to the authority checks commonly knowns as re-enforced checks (REC)
which are carried out at the sea. Information about government importation regulations is very
important to help make decisions and other important factors of the business (Harrison, 1997)
Internal and external sources of information
An entrepreneur needs to have both internal and external sources of information in order
to succeed in the food industry. As Stettner, (2014) says in his book (Strategic management
journal) the sources of data that can be helpful in the business can be primarily obtained from the
business itself and other external sources. Internal information in the food industry can comprise
of financial data, marketing, personnel, purchasing, sales administration, and manufacturing. A
shop for selling food substances require financial support before it is established. Financial
information can be described as data associated with the performance. Performance, in this case,
can be considered as either loss or profit of the organization after some period of time. The
decisions on how much to pay for items is factored in the financial information sheet.