After my MA course I may want to take this brand forward and establish it. In order to do this certain business aspects, have to be thought about. To understand this further I visited the Duke of York Entrepreneur Centre at the University. The staff here helped me to understand what I would need to submit in order to get my brand up and running. This information is available online however, you can get easily lost in the complexity of everything. The staff at the Entrepreneur Centre said this if I were wanting to begin the process of building my brand I have to consider four main documents.
The link to these documents can be found below. Essentially, I was told that this is the basis of any business. The kind staff at the Entrepreneur Centre stated that, if I wanted to establish the brand in the future I should fill in these documents to the best of my abilities and they could then help me with registering my business and any other resources that may be needed such as loans, taxes, payroll etc.
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| Business Template (Source: Screenshot by Blog Author) |
The key document within this set is the business plan. A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities. Unfortunately, many people think of business plans only for starting a new business or applying for business loans. But they are also vital for running a business, whether or not the business needs new loans or new investments. Businesses need plans to optimise growth and development according to priorities. Similar business plan templates can also be gathered from the GOV.UK online website.
The income statement (Profit & Loss Template) presents the financial results of a business for a stated period of time. The statement quantifies the amount of revenue generated and expenses incurred by the specific organisation, as well as any resulting net profit or loss. The income statement is an vitally essential part of the financial statements that an organisation releases. The other key parts of the financial statements are the statement of cash flows. The statement of cash flows is one of the financial statements issued by a business and describes the cash flows into and out of the organisation. This is also shown above.
