Business Report: Launching Michael's Cafe - A New Venture in the UK

This report details the launch of Michael's Cafe, a new venture in the UK market. It begins with an introduction outlining the challenges of launching a market-based business and the need for entrepreneurial skills. Task 1 focuses on market analysis, including target market identification, competitive analysis using Porter's Five Forces, and the identification of tangible and intangible resources. It presents a credible proposal, including an executive summary, company description, vision, mission, and market analysis using PESTLE analysis and benchmarking. Task 2 assesses the skills and capabilities needed for launching the venture, emphasizing leadership and communication skills, and discusses the costs and timescales involved in acquiring or developing these skills. Task 3 covers promotional activities, developing a promotional plan for both launch and pre-launch phases, and evaluating different promotional activities. Task 4 presents a monthly cash budget for the pre-launch phase, justifying the budget and creating pre and post-launch budgets with contingency measures. The report concludes with the applicable legal form for the venture.