Monday 19 March 2012

P4 Know the legal and financial aspects that will affect the start up business - Part one

Good morning year 13

well you can start by carrying out the online regulation and compliance survey on business link by clicking here. Then you can look at the University of Reading's regulations page on food premises and food handling here.

Then you can download their checklist here.

For P4 part one you need to cover the following in relation to your proposed business venture.  Work as a team and play to your strengths.

Legal aspects you will need to consider in your business plan include:

  • Legal status eg sole trader, Partnership, limited company, co-operative, 
  • Legal liabilities - trading terms and conditions
  • Trading standards
  • License - what do you need to have?
  • Record keeping what do you need to keep?
  • What national and local laws do you need to consider?
  • What local bylaws and regulations might you need to consider?
  • What health and safety regulations do you need to consider?
  • What fire regulations do you need to consider?
  • What licensing, planning permissions do you need to consider
  • What contracts would you need to secure, what Duties and responsibilities do you have?
  • What regulatory bodies do you need to be aware of?
  • What sources of advice are available to you before and after you start up?
After researching the above right up what what you need to know and what you need to do before you start trading and what you need to be mindful of and continue to check you are complying to after you have started trading to keep you on the right side of the legislation! Submit the first draft for me to feedback on before next Monday so I can get it back to you by the next lesson.

Good luck and enjoy, P4 Part two will be delivered next week.

Mr T

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