SKILLS AUDIT, LEGAL AND FINANCIAL ASPECTS, BUSINESS PLAN

{[THE BUSINESS THAT I HAVE CHOSEN FOR MY ESSAY IS: CAR RENTAL COMPANY]}

You will be presenting a business plan to a bank manager who could provide potential
funding for your business venture. You will need to prepare a written outline business
plan in a formal report format. For this you need to do the following:

SKILLS AUDIT
P3 – Describe the skills needed to run the business successfully and what areas require
further personal development
You need to consider your ability to run the business, including the skills you already have
to support the business idea and personal development you may have to undertake in
order for the venture to be successful.
In this regard, in order to achieve P3 you need to undertake your skills audit and include
your skills and personal development analysis in your business plan report. You must be
realistic and be able to produce evidence highlighting awareness of your skills and
development opportunities.

LEGAL AND FINANCIAL ASPECTS
P4 – Describe the legal and financial aspects that will affect the start -up of the business
In your business plan report, you will need to describe the legal and financial aspects that
will affect your business. You shall address aspects such as the legal status of the business,
the form of trading it will undertake and other specific relevant legal and financial issues.
You should presume that your ideas will become a reality and therefore consider these
areas accordingly.

BUSINESS PLAN
P5 – Produce a proposal containing the essential information for starting up a business
You are required to prepare an individual written business plan in a formal repot format.
You will then give a short individual presentation (5 -10 minutes) of your business.
Guidance:
The proposal should be a written business plan covering the following:
1. Purpose of plan
2. Type of business
3. Target market
4. Human resources (including skills audit and action plan, details about employees)
5. Legal aspects and physical resources
6. Financial aspects (including financial resources, financial forecasts)
7. Growth and development
8. Contingencies.

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