You are required to create a blog post that describes and explains the following Legal Structures of business.
Sole Trader
Partnership
Limited Company
Social Enterprise
You can use
as a starting point for your research but may find other resources. Please consider the following when researching
What steps are required to register your business?
How are profits distributed?
Who is responsible for paying income tax?
Who is responsible for any loss generated by the business?
Task 2
You will now work in a small team to generate some ideas for your business plan. You need to think of three contrasting ideas, and when deciding try and think about what would be required to start the business. You may find it easier to think of simple business ideas, such as Instrumental Music Lessons, A Club Night, A T-Shirt printing service rather than a business involved in Manufacturing, or something that requires a large start up investment.
For each idea please write a short description of the business, what services/product would be provided, what competition exists, what your Unique Selling Point would be, and who your target market or audience would be.