Unit 19: Pitching For a new Business P1 P2 M1 D1

Unit 19: Pitching For a new Business P1 P2 M1 D1 Unit 19 P1 P2 M1 D1 Mohamed Unit 19: Pitching for a new business P1 P2 M1 D1 P1/P2: Describe the potential business opportunities for a micro-business start-up and Review the factors that need to be considered to start up a micro-business. My business is called Deliver R u, the reason I decided to start up my own business is because I wanted to be able to do my house shopping without having to leave my house. The reason I chose service is that there isn’t any way for someone to receive their shopping from Asda, Tesco, Lidl and Sainsbury’s join together without having to choose one service. So, my service would allow you to order you shopping online and have it delivered to you without actually having to go to different store to purchase it and it will make it easier for the consumer to compare price for the same items but different store will have it at different price. My business would be located around London and hopefully if it is successful it should be located around the UK. For the type of business, I would be running is that I would set up as a sole trader as it comes with some advantages and disadvantages. The advantages are that I will be able to keep the all the profit for myself. Also, I wouldn’t need to run an idea past my partner as I would simply be able to implement it by myself. I wouldn’t need to sign a deed of partnership explaining who owns the majority of the business and who receives the most income from the profit. However, the are some disadvantages such as I would have to be paying all the bills by myself. Also, if I become bankrupt the government or bank would have the right to take me belongs such as cars and property to cover your debts. However, another type of business I was recommend is that I have a partnership where my business to partner with Tesco and Coop will have a share of my business and in retune I’m able to gain the product at a low-cost gain to sell from my business. The advantage of my business doing this is that my business will be easy to establish and the cost of setting up will be low, which means more capital is available for the business. However, the disadvantage it could lead to potential conflict in the future for example if me and my other partner have a disagreements and disputes which could harm the business but also damage the relationship between the individuals involved. Conflict can be a major distraction, absorbing the partners’ time, energy and money.