Meeting the Criteria for P4 and M3 Mrs Howe Unit 36-Legal and Financial Aspects of Starting a New Business Meeting the Criteria for P4 and M3

Mrs Howe Lesson Objectives 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 What you need to do 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 How you will do this 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)

Task-you have 2 hours Working in groups of no more than 3 Mrs Howe Task-you have 2 hours 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)

Assessment We scored this presentation /20 because Mrs Howe Assessment 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 We scored this presentation /20 because Target for next time

Information-Legal Aspects Mrs Howe Information-Legal Aspects http://library.findlaw.com/2000/Oct/1/132129.html http://www.startups.co.uk/ http://www.bytestart.co.uk/content/24/24_4/setting-up-a-new-business-5.shtml http://www.newbusiness.co.uk/articles/legal-advice/legal-aspects-new-businesses-must-consider http://www.entrepreneur.com/startupbasics/legalissues/archive116046.html http://sbinformation.about.com/od/businesslaw/Legal_Issues_Small_Business_Law.htm

Information-financial Aspects Mrs Howe Information-financial Aspects http://www.lloydstsbbusiness.com/support/businessguides/financing.asp http://www.bank.barclays.co.uk/Businessservices/Businessservices/P1242558528789 http://www.duport.co.uk/guides/financial-issues/ http://www.britishchambers.org.uk/zones/skills/jobcentre-plus-support-for-small-businesses.html http://www.bytestart.co.uk/content/news/1_12/nic-rise-concern.shtml http://www.gbbo.co.uk/?utm_source=google&utm_medium=non-brand-cpc&utm_campaign=Northwest&utm_term=small%20business http://www.smallbizmatters.co.uk/Microsoft%20Word%20-%20100111%20Small%20Business%20New%20Year's%20Resolutions.pdf http://www.businessballs.com/freebusinessplansandmarketingtemplates.htm http://www.hmrc.gov.uk/startingup/index.htm U:\Business Studies\Students\BTEC National 2007-2010\BTEC National - Unit 37 - Starting a small business\Assignment C

Keywords Income TAX VAT National Insurance Import tax Mrs Howe Keywords 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