As part of the formal assessment for the programme you are required to submit a Structure of Business enviro audit report. Please refer to your Student Handbook for full details of the programme assessment scheme and general information on preparing and submitting assignments.
After completing the module, you should be able to:
- Identify the differences between the various business sectors that contribute to the economy.
- Identify strengths and weaknesses of various legal frameworks in relation to business start-ups.
- Identify and evaluate strengths and weaknesses of various finance generating alternatives a new business may look to.
- Identify and explain the importance of key ‘Humans Resource’ policies within a given organisation.
Please note that exceeding the word count by over 10% will result in a reduction in grade by the same percentage that the word count is exceeded.
You must not include your name in your submission because Arden University operates anonymous marking, which means that markers should not be aware of the identity of the student. However, please do not forget to include your STU number.
Apply for a start-up loan for your business
The UK government has mounted one of the most aggressive economic responses to the COVID-19 pandemic, pledging billions of pounds to support businesses and Start-Ups through the crisis. The UK government has pledged the equivalent of 8.5% of GDP towards fighting the crisis. Much of the spending is going towards supporting businesses.
In light of the above, a government-backed Start Up loan of £500 to £25,000 to start or grow businesses was introduced. Unlike a business loan, this is an unsecured personal loan. You are considering a career as an entrepreneur and you are aware of the current opportunities, hence your decision to start your own business.
To help you develop your ideas further to create a viable business start-up, address the following questions:
Apply for a Start-Up Loan for your business
- Construct a table to show the various legal statuses of businesses (such as PLC, LTD, Registered Charity etc) that your business may adopt. Identify the relative strengths and weaknesses of these legal statuses.
- Considering your business idea, identify and evaluate the strengths and weaknesses of THREE sources of finance available to your business start-up.
Identify three sectors within the UK economy in which a business can operate. What are the differences between the three sectors? Comment on their value to the UK economy.
Identify at least two HR policies and comment on their importance to the modern workplace (for example Health & Safety policies and equality and Diversity policies).
In addressing the three questions, you may consider opportunity costs, scarcity and choice, supply and demand and any other concepts you have learnt in this module that you think is relevant.
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