Thursday, 20 November 2014

Unit 7 Business Plan Part 4 - The business environment

Good morning year 12 Business

This week we will continue to nail Unit 7 as above and the good news is that you have got notes on this already.

You will then need to research and collect information on the local and national factors which could affect the business environment, remember PESTLE

As a minimum the presentation should include information on the likely effect of the following factors:
  1. Local factors - this link is helpful here and here
  2. National factors this is where your PESTLE comes in
  • Politics - what is the coalitions view on new business?
  • Economic - is this a good time economically to start a business ? Do people have jobs, money to spend and are they happy with their rates of pay?
  • Social - do people have more time to spend with your business? Are people more health conscious, living longer and living longer and healthier to take advantage of your business?
  • Technology - how can you use it to build your business and get more customers? Is it easy to use or hard? How would you use it to get more customers?
  • Legal - is the business environment easy to set up in the UK? What do you need to do apart from tell the HMRC that you would like to send them a TAX RETURN every year to pay tax and collect NATIONAL INSURANCE and TAX of your workers and hand it to them? What is the other TAX that you need to pay and does this relate to your business?
  • Environmental - how will CO2 emissions, pollution and recycling give your business a boost or will it cost it money?  
So six slides with facts and figures along with a front page, introduction and conclusion should fix it
Deadline date: Wednesday 19th November 2014 

For M1 you need to take this further and 'explain how changes in the current business environment are likely to impact on start up businesses

How would your business be able to cope with any changes that might occur within the local business environment.  Areas top consider could be:
  • Competition - more set up shop
  • Unemployment rises in the local area
  • The local government
  • Regional redevelopment businesses move out and housing building increases
  • Increased costs such as rent and rates
  • Supplier issues!
Pick three of the above and explain how the change will impact on your start up.  Hint state what the change is and then how this will impact on your selected business

Deadline date Wednesday 27th November 2014

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