Business Plan
Introduction
Starting a new business requires proper planning and proper implementation of such planning in business operations. In the following study, the focus will be on establishing a new business and developing plans for it. Queste Communications ltd is one of the major, and most rapidly growing telecommunications company in Australia. The scope of this company is extended to various other sectors such as, Information Technology and production as well as marketing of olive oil. The company is going to invest in a new business that is a Stock Broking firm (Financial services sector). The study focuses on developing a plan and research before starting a new business.
Research showing
Queste Communications ltd
The Queste Communication ltd is a telecommunication organisation, who handles the information related technology in the effective way. The organisation has been established in the year of 1998. The company has around 59.86% interest in the company of ASX listed investment. Total investment of company in September is around $62. The organisation expands their business in the very quick way.
Marketing mediums
In order to increase the business, the authority of business enterprises needs to provide advertisement in the media. Providing advertisement in media helps to bring effective outcome. In order to provide advertisement, the authority of Queste Communication ltd has chosen social media as most of people can access social media.
On the other hand, they can advertise through tv or radio for making people know about their services.
Resources
Proper resources help to extent the business in the contemporary market. In order to develop the business plan, availability of supplier, cost and many others are necessary.
In order to develop business area of Queste communication ltd, authority needs to decide their cost as they can make their plan in the effective way.
On the other hand, the suppliers of the venture help to increase the sale of the enterprises. In case of Queste Communication ltd, suppliers can provide information about their services to the customers. As they venture has introduced with Stock broking Firm, they need to increase their capital. Henceforth, it is necessary for them to incorporate large number of shareholders in their business. Their availability can assure their success in the contemporary competitive market.
Establishment and purpose of business plan
In order to prepare a proper business plan, determination of purpose of plan is necessary. Purpose of plan represents “what does the business wants to achieve, its goal and ambition?”. Establishing an accurate business plan requires a dedicated field research. Proper planning helps in the daily operations of the business and predicts the market variations.
Essential components of business plan
The major components of a business plan refer to the various elements that is required for proper functioning of the business. Proper planning requires availability of adequate funds that is, capital requirements, experienced personnels and an active management team. These elements provide necessary fuel for the proper management of the business.
Finance, Legal and Compliance Requirements
Finance requirements refer to the funds needed for investment purpose. Before starting a business, a fixed amount of investment is made as working capital that helps in running the day-to-day operation of the business. According to the Auditor’s report of the company, as presented in AGM 2016, working capital requirements for the new Stocking Broking firm is around $9 million. There are few costs other than working capital such as, Research and Development cost, Staff salary, Recruitment cost and others. An estimate is made and a fixed amount is set aside to meet this expenses. Amount allocated are as follows, Research and Development cost ($3.2 million), Staff salary ($2.90 million), Recruitment cost ($1.8 million) and others ($1.2 million). The management of Queste Communications ltd is planning to raise the required funds by selling its existing shareholding in Orion Equities ltd by 19% and remaining funds by selling the bonds of a public company.
Legal and compliance requirements mean abiding by the rules and regulations formed by the appropriate body for management of the company. As per the Government Regulatory Framework relating to Securities and Exchange Board, forming a Stock Broking firm requires abundance of legal and paperwork. The proposed firm needs to pass the eligibility criteria set for the formation of new firm. There are several Tax regulations for which the proposed firm needs to be registered.
Market research
Developing plans for a new Stock Broking firm is a time-consuming task. It requires a detailed research on market demands, market professionalism, size and scope of the market. As per the report of the company’s auditor, financial services sector is a very competitive sector where innovative techniques to improve the quality of the product & services are the only way to get hold of this market. Quality development will help to create a competitive edge over competitors. According to the Auditor’s report, this market has a contribution of
21% in country’s economy with a total trade volume of $288.61 billion. As per the Government assumption and growth reports, this sector will be the third largest contributor in the economy of Australia in next 5 years. The potential reach of this market is enormous a
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Unit 1 Business and The Business Environment
Unit 1 Business and The Business Environment
Unit 1 Business and The Business Environment ,This assignment explores the case of H&M. Hennes and Mauritzis the largest fashion retailer in Europe at the present. Like ZARA, fashionable designs, high quality, affordable prices and its distribution system are keys to its success and rapid expansion worldwide. However, fast fashions, the most important factor of ZARA’s success, is not the one to make H&M more thriving in the market
