Business planning

1.Sources of planning-situational analysis

a.SWOT analysis

Firms control, no control in current time

b.Strengths

what firms does well give a competitive agvantage

c.Weaaknesses

firms need improvet

d.Opportunities

change in external environment -good to B

e.Threats

opposite of d. bad to B

2.Visions Goal Objectives

a.visions

a broad statement- what+where the B wants to in the future

b.goal

things B aims to achieve

long/short term -financial,social,personal

c.objectives

a specific statement detail what B needs to achieve to accomplish its vision

3.Organising resources

a.operations

1.Personal qualities

a. entrepreneurial skill

b.motivation

c.Experience

d.Expectations

e. Other influences

2.Sources of information

a.The Entrepreneur

b.Professional advisers

c.State gov

d.Ferdal gov

e.Local gov

f.Australian Bureau of Statistics

g.Electronic Information Services

3.The business idea

a.B idea

doable

marketable

profitable

competitive

b.Competition

cost reduction

differentiation

Subtopic

4.Establishment optitions

1. New B

2.Extisting B

3.Franchise

5.Market

1.Good+Service

a. Market Analysis(if the B has market)

collectiing,summarsing+analysing I

2.Price

a.Percentage mark-

b.Recommended retail price

c.Price leadership and competition

d.What the market will bear

3.Location

a.shopping centre complexes

b.Retail shopping strips

c.Online presence

d.Home

6.Fiance

1. Two sources

a. Funds borrowed from bank_ Debt finance

short term-bank overdraft,credit etc
medium term-rent machinery
long term- mortgage

b.Funds contributioned bu owner-Equity finance

long term-finance assets

2.Cost

a.Interest

b.Gearing- level of debt a B has

3.Financial requirements

a.Establishment costs(expenses)

set up the B eg legal fee,rent

b.Operationg costs(expenses)

day running- wages, insurances

7.Legal

1.B name registration-NSW gov

2.Zoning-land can use- local

3.Health Regulation-local

4.Trade Practices Act-Federal law control B activity+unfair to B consumer

5.Patents- Ferdal protect new protect

8.Human resources

1.Skills

a. full/part... time

b.Recruited-school
-agency Manpower
-Advertise/online

2.Cost

a.Wage

b.non-wage

workplace health+safety requirement, leave,superannuation

9.Taxation

1.Federal

a.PAYF pay as u go- employment but sent by B

b.GST- 10%

c.Company Tax-30% profit of B

2.NSW

a.Stamp duty-documents when assets r sold

b.Payroll Tax-6.2 paid on wages over $600,000

c.Captial Gains tax- on profit when assets are sold

Subtopic

1.GDP

2.employment

3.innovation and invention

4.balance of payment

1.good/lack of B plan

2.... management skill, experience

3.... financial record

4...eco situation