1 / 18

BUSINESS FUNDAMENTALS What, Why and How

BUSINESS FUNDAMENTALS What, Why and How. NAZIR AHMAD CHAUDHARY. WHAT. Businesses. Business is an activity to generate profit and maximize the wealth for owner? YES/NO. Non-Profit Enterprise For Profit. Businesses are Customers

calista-osborne
Download Presentation

BUSINESS FUNDAMENTALS What, Why and How

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BUSINESS FUNDAMENTALSWhat, Why and How NAZIR AHMAD CHAUDHARY

  2. WHAT

  3. Businesses • Business is an activity to generate profit and maximize the wealth for owner? YES/NO • Non-Profit Enterprise • For Profit • Businesses are Customers (Computers, furniture, machines, carpets, building, printing, mobiles, internet, book keeping, car, bank, services etc.)

  4. What do you do? Invest Plan Present Design Source Buy Look after Transmit Move Grow Profit & Loss Advise Share Contribute

  5. Who do you do it for? Investors Subscribers Yourself Employees Whole sellers Customers Buyers Charities Suppliers Retailers Society Students Economy Users

  6. WHY

  7. Business Idea • Type of Business (Service, Manufacturing, Wholesaler, Retailer etc..) • Name of Business • Logo • Slogan • Stationary (Letter head, visiting cards, brouchers) • Website

  8. CHOOSING PREMISES • Work from Home • Managed Workspace • Business Incubation • Commercial Letting Consider Extra Cost • Repair • Insurance • Service Charge • Business Rates www.mybusinessrates.gov.uk

  9. Business Plan • Details of the business' legal status, key personnel, aims and objectives. • Details of the products and services • Details of your target customers • SWOT - Analysis • Competitive edge • Marketing Strategy • How and where your business will operate. • Financial requirements, including how much money is needed and when it is needed.

  10. Raising Finance • Bank Loans • Business Angels • Grants and Awards

  11. BUSINESS TASKS

  12. HOW

  13. Clarity Confidence Drive Positive attitude Risk-taker Decision-maker Open-minded Delegation Flexible Communication skills Perceptions Organisational skills Determination Focus Some Characteristics of successful Businessman.

  14. Types of Business • Sole Trader (you enjoy all profit but personally liable for debt) • Partnership (advise, technical expertise, ideas, finance) • Limited Company (Limited liability for debt, better recognition, tax, annual returns, VAT, National Insurance

  15. More Information • Tax Liability (www.hmrc.gov.uk) • Employing Staff (www.dti.gov.uk/employment) • Data Protection (www.ico.gov.uk) • HM Revenue & Customs (www.hmrc.gov.uk) • Health and Safety Executive(www.hse.gov.uk) • Companies House (www.companieshouse.gov.uk)

  16. Business Help Organizations • www.westfocus.org.uk • www.businesslink.gov.uk • www.princes-trust.org.uk • www.shell-livewire.org • www.bridgesventures.com • www.chamberonline.co.uk

  17. The End Question Time

  18. My Contact Detail • Nazir ahmad, Brunel University West London. Department of Electronics and Computer Engineering. • Mobile: 07960119509 • E-Mail: exittsoft@ieee.org • Website: www.nazir-chaudhary.com

More Related