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Unit 36-Legal and Financial Aspects of Starting a New Business Mrs Howe.

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1 Unit 36-Legal and Financial Aspects of Starting a New Business Mrs Howe

2  P4 – P4 describe the legal and financial aspects that will affect the start-up of the business  M3 assess the implications of the legal and financial aspects that will affect the start up of the business.  Lesson Outcomes  Identify and describe the legal and financial aspects which effect your business  Assess the impact of these legal and financial aspects identify the systems you will have in place to prevent any problems in these areas.  Identify and explain systems to address these aspects of a new business Mrs Howe

3  Pass –describe the legal and financial aspects which will effect the start up of your business  Merit- all of pass plus consider the impact these aspects will have on your business and what you can do to address these issues  E.g recording systems (ledgers, spreadsheets, employment of an accountant) for VAT and TAX liability Mrs Howe

4  First identify the legal and financial aspects which will effect your business  How will you do this?  Carry out research to find out what legal and financial aspects effect a new business  Create a power point to explain to the rest of the class what will effect your business  Select the ones which are appropriate to your business. Write about them (P4)and explain what systems you will have to ensure they are not a problem (how will you manage these requirements) Mrs Howe

5  Working in groups of no more than 3  Research and identify the legal and financial aspects which will effect your business.  You should also include systems you will use to address these issues and prevent them becoming a problem  Put your findings in a power point to inform the rest of the class what your issues are  (or advice sheet for new business’s) Mrs Howe

6 CRITERIA LOTS OF WORK TO DO CLOSE BUT STILL SOME WORK LEFT TO DO YOU’VE GOT IT THIS IS THE STANDARD FANTASTIC JOB What are the legal aspects effecting your business What are the financial aspects which effect your business Systems for financial aspects Systems for legal aspects Easy to understand Mrs Howe We scored this presentation /20 because Target for next time

7    up-a-new-business-5.shtml up-a-new-business-5.shtml  advice/legal-aspects-new-businesses-must-consider advice/legal-aspects-new-businesses-must-consider  s/archive html s/archive html  Issues_Small_Business_Law.htm Issues_Small_Business_Law.htm Mrs Howe

8     businesses.html businesses.html   cpc&utm_campaign=Northwest&utm_term=small%20business cpc&utm_campaign=Northwest&utm_term=small%20business  % %20Small%20Business%20New%20Year's%20Resolutions.pdf % %20Small%20Business%20New%20Year's%20Resolutions.pdf  U:\Business Studies\Students\BTEC National \BTEC National - Unit 37 - Starting a small business\Assignment C Mrs Howe

9  Income TAX  VAT  National Insurance  Import tax  Health and Safety  Quality standards- IS09000  Insurance  Public liability insurance  Employers Insurance  Legal Protection  Accountant  Business Plan  Ratios  Break even Mrs Howe


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