We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

My business venture and the reason for choice Essay Sample

The whole doc is available only for registered users OPEN DOC
  • Pages:
  • Word count: 727
  • Category: business

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

My business venture and the reason for choice Essay Sample

The business I chose for this unit is a baby clothes shop. I chose this kind of business venture because I love little kids and would like to open a shop with unique designs of baby clothes. The clothes will be for newborn kids till kids aged 2 years. My business is going to be located near the dappermarkt. I chose to set up my shop there because the dappermarkt attract people from throughout whole the Netherlands. This way it is easy to get my target group to buy at my shop. The people that live in this neighbourhood are actually the main target because I aim for people with an average income.

Aims: My aim is to be a well known shop and make a lot profit. In the future I want to expand the business with a few more shops on other locations. In order to achieve my goals me and my business partner need to make good decisions relating advertisement and other decisions we have to make to make as much money as possible for the aims to be achieved.

Target group: As stated above my target group is people with an average income that want to have fashionable clothes for their babies for a low price.

My personal attributes

The skills I posses and are needed for my business venture:

Finance and book-keeping skills

Marketing and selling skills

Communication skills

Management skills

Human resources skills

Computer skills

Customer service skills

Import/export skills

Negotiating skills

Leadership and decision-making skills

Swot Analysis for my business

Strengths: My shop will be the only one in the area in which u can get fashionable and unique baby clothes for a reasonable price. The baby clothes that will be sold at my shop are unique and

Weaknesses: As a new shop we have to show and proof ourselves to the customers. Other weakness could be that the customers decide that they want to buy the clothes on the market. That’s why we have to have reasonable prices and good quality clothes.

Opportunities: if the business goes well I can open more shops on different kinds of places and maybe in the future even expand abroad

Threats: it can be that people prefer to shop in a shop that is well known than in mine. Another possibility is that people would prefer buying the clothes in the market than in my shop. That’s why I need to let people know what I sell and that it is not really expensive.

Legal structure:

The legal structure I chose for my business is Partnership. The reason why I chose this business structure is because the losses are covered equally and we have to take equal responsibility for the business’s activities.



– a partner can introduce additional capital to the firm

– a partner can increase the level of expertise available to the firm

– the decision-making process can be shared

– it is still possible to offer a personal service

– there is someone available to cover for sickness and holidays


– growth is still restricted to the amount of capital the partners can raise

– if the partners disagree or fall out this can cause problems

– if one partner decides to leave, the partnership has to be dissolved

– partners still have unlimited liability. Often they will each have joint and several liability, meaning that all partners are liable for all of the debts.

– Profit has to be shared

Sources of finance

Sources of finance for a partnership company are:

– Personal capital – Leasing

– Retained profit – Bank loan

– Bank overdraft – Mortgage loan

– Credit cards – Hire purchase

– Sales of assets – Trade credit

I will make use of my own money and money of my parents to finance a part of the company. Other sources of finance will be a bank loan, a mortgage loan and when the business gets started after a while I want to have retained profit as a source of finance in times that the sales don’t go too well.

We can write a custom essay

According to Your Specific Requirements

Order an essay

You May Also Find These Documents Helpful

A Business Plan for an It Start-Up

The company is an ITES startup that makes apps and websites for third party. The business aims at targeting the lesser exploited markets of grocery stores, schools and medical stores. For doing the on-ground marketing of our services, we have planned to hire a salesman. We’ll train him well and make him enough knowledgeable about our business so that he can give us our potential...

Ethical and Legal Issues Revolving

A civil action film is a based on true life experiences that revolve around the good scenarios and issues that are bound to be tried by legal bodies. It is based on the true stories that were taking part in the year 1980s when the environmental pollution took place and better parts of Woburn. There was the ethical issue revolving around the film as there...

Business Ethics - International Trade Administration

As experts in business ethics, your expertise can be used to help breakdown a situation good or bad. In situations we can come in and erase the bad and replace with good or simple reinforce the good that is being done. In this case, we will be doing a lot of erasing for many reasons. This branch of the bank was not doing what it...

Wace Group’s To Scaling A Business

M&S was highly specific about the quality of paper, size of paper, cuts as well as delivery schedule. Though quality standards and technical skills were forte of Wace Group, yet some of the major changes that the company had to accompany in its order schedule, capacity schedule and delivery schedule. Most importantly were of important concern which on one hand can pose risks to the...

Business Accounting and Assurance Coursework

The conceptual framework has been defined as ‘a coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards.’ (FASB 1978) Answer the following questions in relation to the International Accounting Standards Board’s Conceptual Framework, 2010. Q1. What is meant by general purpose financial reporting and how does it differ from special purpose financial reporting?​The financial report implies noticing down the monetary exercise...

Get Access To The Full Essay
Materials Daily
100,000+ Subjects
2000+ Topics
Free Plagiarism
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.

Your Answer Is Very Helpful For Us
Thank You A Lot!


Emma Taylor


Hi there!
Would you like to get such a paper?
How about getting a customized one?