Starting a Small Business

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Present the initial business idea using relevant criteria.
To:
From:
Date
Business Name:
Business Description and type:
* What the business does and the type? I.e. New/Existing/Franchise

Business Aims and Objectives:
* Aim of the business and SMART objectives

Business USP and Competitive Edge:
* The features of the business and makes it different from the competition

Demand for the new business
* Description of the type of people you will target and why is there demand from these people and your business idea Checking for Profitability
* You should include outline of basic costs against potential sales. Is the business idea profitable and why? Business Trends and External Influences
* PESTLE Analysis -Outline of the external influences and trends affecting the business These include:
* Political
* Economic
* Social
* Technological
* Legal
* Environmental
You should explain how some of these factors (PESTLE) may affect: * Customers, for example higher energy costs means customers have less money to spend. Or the growth of internet shopping. * Staff: Tax and employment laws

* Business: Laws, new technology , taxation
* The Industry you operate in, laws, technology , political agenda( healthy eating, tax on sugary drinks), Environment * Competitors: laws, political and economic factors that may affect the competition

SWOT analysis

Conclusion:
Summary of why you want to set up the business. This should include things like why you want to set up the business including why you want to be self-employed and the skills you have to make the business a success and how aware you are of balancing your personal needs against business needs.
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