29 th September 2011 Learning Outcome: Identify how regulations and laws for small businesses can affect preparation for business Identify how regulations and laws for small businesses can affect preparation for business PLTS Learning Objective: Effective Participators – taking an active role in group activities Creative Thinker – Being imaginative and challenging yourself Unit 16: Business Enterprise

29 th September 2011 Key Words: 1. Sole Trader; 2. Partnership; 3. Private Limited Company (Ltd); 4. Unlimited Liability; 5. Limited Liability Unit 16: Business Enterprise

STS NEG RTH Find as many 3 or more letter words as you can using the middle letter each time There is a 9 letter word… What is it?

Strengths An area or task which you are good at or enjoy doing Definition |

Success Criteria – What you have to do to be successful… CriteriaAssessment What you have to do Pass P2– Identify how regulations and laws for small businesses can affect preparation for business Complete a PowerPoint presentation on the different laws and regulations that affect small businesses. The PowerPoint should focus on explaining the different laws and regulations and how they directly affect starting up a small business Merit M2 – Analyse the different aspects that will affect preparation for business Using your business concept from last week and writing in full sentences and paragraphs: 1. Explain why the different types of business are/are not suitable for your business; 2. Say how the different laws and regulations will help protect and run your business

Legal Status  Working in pairs,  Recall the different types of business ownership (from Unit 1).  What is legal status? It is the type of business ownership Time Allocation: 5 Minutes LO: Identify how regulations and laws for small businesses can affect preparation for business Hint- Refer back to unit 1 ‘Exploring Business Purposes’ what types of small business do you remember?

Business Ownership & Entrepreneurs LO: Identify how regulations and laws for small businesses can affect preparation for business  For this Pass & Merit criteria, we will be focusing on: 1.Sole Trader 2.Partnership 3.Private Limited Company (Ltd.)

Activity 1… Working in groups of 4; Working in groups of 4; Use the cards provided to… Use the cards provided to… Identify the different advantages and disadvantages of the 3 types of business ownership Identify the different advantages and disadvantages of the 3 types of business ownership BE CAREFUL…some apply to more than 1 type of business ownership BE CAREFUL…some apply to more than 1 type of business ownership LO: Identify how regulations and laws for small businesses can affect preparation for business Time Allocation: 10 Minutes

Regulations & Laws What is a Law or Regulation? What is a Law or Regulation? Something that must be followed LO: Identify how regulations and laws for small businesses can affect preparation for business

Activity 2… LO: Identify how regulations and laws for small businesses can affect preparation for business Working in pairs; Working in pairs; See how different laws & regulations can you think of that a business might have to follow… See how different laws & regulations can you think of that a business might have to follow… Time Allocation: 10 Minutes

You may have thought of… LO: Identify how regulations and laws for small businesses can affect preparation for business Health & Safety at Work Act Employment Rights Act Workplace (Health, Safety & Welfare) Regulations Equal Pay Act National Minimum Wage Act Working Time Regulations Data Protection Act Copyright Act Sale of Goods Act Consumer Protection Act Companies Act

The 6 categories… LO: Identify how regulations and laws for small businesses can affect preparation for business 1. Health & Safety in the Workplace 2. Information & Data Handling 3. Selling Goods & Giving Credit 4. Employing Staff and Discrimination 5. Business formations and operations & tax 6. Paying staff

Over to you (P2)… LO: Identify how regulations and laws for small businesses can affect preparation for business Working in teams of 3… Working in teams of 3… Pick 2 of the Laws/Regulations just mentioned; Pick 2 of the Laws/Regulations just mentioned; Complete a PowerPoint presentation on: Complete a PowerPoint presentation on: –What the Law/Regulation means; –What category it comes under; –How you think it will affect a small business

Fancy a challenge? M2 – Analyse the different aspects that will affect preparation for business M2 – Analyse the different aspects that will affect preparation for business To achieve this criteria look at type of ownership covered and really explain why its good for your business from last week To achieve this criteria look at type of ownership covered and really explain why its good for your business from last week Then look at each law and try to explain how it will help your business run and protect your business Then look at each law and try to explain how it will help your business run and protect your business LO: Identify how regulations and laws for small businesses can affect preparation for business

Need a hand? Put a heading in P2 – Describe how regulations & laws for small businesses can affect preparation for business Small businesses have to prepare to set up a business because …………………….. Businesses also have to make sure they get their ownership right. This is because………………………………………… A Sole trader is ………………… some of the advantages are ……………………………. Some of the disadvantages are………………………………. A Partnership is ………………… some of the advantages are ……………………………. Some of the disadvantages are………………………………. A private limited company is ………………… some of the advantages are ……………………………. Some of the disadvantages are………………………………. A Franchise is ………………… some of the advantages are ……………………………. Some of the disadvantages are………………………………. Businesses also have to follow laws. This is because: ………………………………………………… They fall into certain groups. Group 1 – Business Ownership & payment of taxes – write about the Partnership Act here Group 2 –Health & Safety in the workplace – Write about Health & safety at work Act here Group 3 –Employing staff & discrimination– Write about the disability discrimination act here Group 4 Paying Staff– write about the national minimum wage here Group 5 –Information & data handling– write about the Data protection Act here Group 6 – Selling goods & giving credit –Write here about the Trade description Act here LO: Identify how regulations and laws for small businesses can affect preparation for business

So what have we learnt so far today? Recaped the different types of small business ownership... They are? Recaped the different types of small business ownership... They are? The advantages and disadvantages of Soletraders, Partnerships and LTD’s... Tell me some The advantages and disadvantages of Soletraders, Partnerships and LTD’s... Tell me some How different acts and regulations impact on small busineses... Can you name them? How different acts and regulations impact on small busineses... Can you name them? LO: Identify how regulations and laws for small businesses can affect preparation for business