an organization or enterprising entity engaged in commercial, industrial, or professional activities. ... The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit. Sole Proprietorships Partnerships Limited Liability Companies Corporations There are different types of businesses to choose from when forming a company, each with its own legal structure and rules. Typically, there are four main types of businesses:
by one individual only. While it is the most simple of the types of businesses, it also offers the least amount of financial and legal protection for the owner. Unlike partnerships or corporations, sole proprietorships do not create a separate legal identity for the business. Essentially, the owner of the business shares the same identity as the company. Therefore, the owner is fully liable for any and all liabilities incurred by the company. 1.Sole Proprietorship
two or more individuals, known as partners, who jointly own and operate the enterprise. Partnerships share some similarities with sole proprietorships, including the ability to benefit from pass-through taxation. In other words, the profits earned by the business are reported as the partners' personal income and are only taxed once. Additionally, partners in a partnership are jointly and severally liable for the firm's obligations and debts. However, there are variations in the structure of partnerships, such as general partnerships, limited partnerships, and limited liability partnerships, which provide different levels of liability protection for the partners. 2.Partnership
versatile form of business entity that combines the features of partnerships and corporations. LLCs offer the same liability protection as corporations, shielding the owners from personal liability for the business's debts and obligations. At the same time, LLCs also provide the tax benefits of sole proprietorships or partnerships, as they are typically subject to pass-through taxation. This means that the profits or losses generated by the LLC are reported on the individual tax returns of the owners, avoiding the double taxation that corporations may face. LLCs have the flexibility to choose their tax status, enabling them to select the most advantageous tax treatment based on their unique circumstances. In general, if an LLC does not elect to be treated as a C corporation, it will maintain its pass-through taxation status
By incorporating a business, owners can shield themselves from personal liability for the company's financial obligations and legal issues. Creating a corporation is a more intricate process compared to the other types of business structures. This involves drafting articles of incorporation, which specify essential information, such as the number of shares to be issued, the business name and location, and the purpose of the enterprise. In addition, corporations must also comply with various legal and regulatory requirements, including holding regular shareholder meetings, appointing a board of directors, and filing periodic reports with the government. Nevertheless, the benefits of incorporating a business include the ability to raise capital through the sale of stocks, the potential for perpetual existence, and a separate legal identity that provides greater protection to the owners. In sole proprietorships and partnerships, if one of the owners passes away or declares bankruptcy, the company is dissolved. Corporations exist as a legally separate entity. Therefore, they are protected from this situation and will continue to exist even if the owner of the business passes away.
as goods and human capital, that is dedicated to meeting human needs by producing, distributing, or consuming economic goods and services for customers. This enterprise is structured according to a specific business organization and managed through a particular business administration by company management. The individual responsible for leading the enterprise is known as the entrepreneur, and the functions that the company performs to achieve its goals are referred to as corporate activities. These activities are carried out through a set of corporate processes that are executed within the framework of operational management, which adheres to a well-defined business plan. A company can operate in any sector of the economic system, including the primary sector (which involves the extraction of natural resources), the secondary sector (which involves the manufacturing and processing of goods), and the tertiary sector (which involves the provision of services).
responsibility of establishing a new business venture, and assumes a significant portion of the associated risks and rewards. TEAM 2 Often viewed as an innovator, the entrepreneur is a driving force behind the creation of new ideas, products, services, and operational procedures in the business world. Through their vision and creativity, entrepreneurs identify opportunities to address unmet needs or to improve upon existing solutions, and they invest resources into developing and launching new ventures that can bring these ideas to fruition. While the path of entrepreneurship can be challenging and uncertain, successful entrepreneurs are often able to enjoy significant financial and personal rewards as a result of their efforts. What is an entrepreneur? - YouTube
business owners to outline their company's vision, goals, and strategies. It serves as a roadmap for the organization, providing a detailed description of the business, including its history, nature, and purpose. A comprehensive Business Plan should cover various aspects of the business, including an overview of the products or services provided, the target customers, and suppliers. It should also include a summary of company growth and performance, highlighting key financial or market indicators. In addition, the plan should outline short and long-term business objectives, including strategies for profitability and growth. This can include marketing and sales strategies, operational plans, and financial projections. Creating a well-developed Business Plan demonstrates to investors and customers that the business is well-prepared and knowledgeable about the market and its opportunities. A strong Business Plan can also help the company secure funding and partnerships by showcasing its potential for success. BUSINESS PLAN TEAM 3
provide a comprehensive overview of the organization and its operations. Description of the Business: This section of the plan provides a detailed overview of the company, its history, goals, and operations. It includes information on the business structure, legal status, industry classification, and products or services provided. Competitive Analysis: In this section, the plan outlines the competitive environment in which the business operates, including an assessment of competitors' strengths and weaknesses, market trends, and barriers to entry. Marketing Plan: The marketing plan outlines the strategies and tactics the business will use to promote its products or services and reach its target audience. It includes information on target demographics, pricing, promotion, and distribution channels. Human Resources: This section of the plan covers the people requirements for the business, including staffing needs, organizational structure, and employee management strategies. It may also include information on training, compensation, and benefits. Financial Information: This section of the plan provides an overview of the company's financial status, including revenue projections, expenses, cash flow, and funding requirements. It may also include information on investment opportunities, financial risks, and exit strategies. How To Write a Business Plan To Start Your Own Business - YouTube What are the 5 elements of a business plan?
ground, you’ll need to prove that it’s worth starting. By using a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis, you can determine if your business idea is viable, if it needs to be adjusted, and how you are going to deal with roadblocks and other issues that could affect its success.
that conveys the purpose and values of a business. It should articulate the company's reason for existence, its guiding principles, and what sets it apart from competitors. A well-crafted mission statement can serve as a powerful marketing tool, as it communicates to customers, investors, and other stakeholders what the business stands for and why it is worth supporting. Effective mission statements use bold and action-oriented language, incorporating strong verbs that convey a sense of purpose and passion. Crafting a mission statement requires careful consideration and reflection on the company's core values, long-term goals, and unique selling proposition. When done correctly, it can help to align all aspects of the business, from strategy and operations to branding and marketing, around a shared vision and purpose. 2.Mission Statement
the entire business plan, typically found on the first page. It should provide a snapshot of the company's goals, strategies, and key metrics in a way that is clear and compelling. The executive summary should be structured with headings that correspond to each section of the business plan, and should provide a brief synopsis of the content contained in each section. It should highlight the most important and relevant information, such as the company's value proposition, market opportunity, competitive landscape, and financial projections. The primary goal of the executive summary is to capture the reader's attention and generate interest in the business plan, compelling investors or stakeholders to delve deeper into the details of the plan. It should be concise, well-written, and visually appealing, using charts and graphics to illustrate key points and make the information easier to understand. 3.Executive Summary
with the goal of creating positive social and/or environmental impact, in addition to generating revenue. Unlike traditional businesses, social enterprises prioritize their social mission above maximizing profits. They often reinvest their profits to further their social goals or donate them to support causes they care about. The aim is to create a sustainable business model that benefits both society and the business. Social Enterprise 101 - YouTube Parents Say Social Media Companies Are Indifferent to Their Kids Harassment - Bloomberg
Solar Sister is an innovative social enterprise that provides clean energy solutions to remote and underserved communities in rural Africa. The company employs a unique women-centered direct sales network to bring their products directly to consumers. By focusing on innovation and utilizing a non-traditional sales approach, Solar Sister is able to address social needs and create positive impact. 2. THE EMPLOYMENT MODEL: Faire Collection is a social enterprise that prioritizes the common good by employing disadvantaged people at a fair wage. The company works with artisans in developing countries to create high-quality jewelry that is sold on international markets. In addition to dignified wages, Faire Collection provides holistic social programs that support their artisans in achieving long-term economic stability and breaking the cycle of poverty. 3. THE GIVE BACK MODEL: Better World Books Roma Boots is a social enterprise that embraces the "give back" model to serve the common good. For every purchase made, the company donates a brand new pair of boots stuffed with educational supplies to a child in need. This model allows consumers to make a tangible and meaningful impact with their purchases, while also addressing social needs and supporting positive change. Information from : https://www.thegoodtrade.com/
study that provides insights into the current state of the social enterprise sector. The report highlights that social enterprises in the UK are flourishing and surpassing their mainstream SME counterparts in various business areas, including turnover growth, workforce growth, job creation, innovation, business optimism, and start-up rates. Despite the challenges posed by the triple threat of economic stagnation, social division, and the climate emergency, social enterprises are proactively taking on these issues. The State of Social Enterprise Report
of social enterprises are under 5 years old; • 52% of social enterprises grew their turnover in the last 12 months; • 77 % of social enterprises earn more than 75% of their income from trading. SOCIAL • 40% of social enterprises are led by women; • 35% of social enterprises have BAME directors; • 76% of social enterprises said that they were a living wage employer. ENVIRONMENTAL • 88% of social enterprises actively aim to minimise environmental impact; • 65% of social enterprises expect to increase their focus on sustainability and environmental friendliness ; • 75% of social enterprises consider environmental impact to be of equal or greater importance than cost.
a specified future period of time and is usually compiled and re- evaluated on a periodic basis. Budgets can be made for a person, a group of people, a business, a government, or just about anything else that makes and spends money. BUDGET TEAM 5 What is a Budget? - YouTube
that accepts deposits from customers and lends money. In addition to these core functions, banks may also offer other financial services such as wealth management, currency exchange, and safe deposit boxes. There are various types of banks that cater to different needs such as retail banks for individual customers, commercial or corporate banks for businesses, and investment banks for specialized financial services. The word "Bank" originates from "Banc" or "Banque," which refers to the benches used by ancient financiers to transact business in the marketplace. Banks play an essential role in the economy and society as a whole. They have a widespread presence across the country and offer a wide range of services based on customer demand. These services may include ATM services, safe deposit boxes, money transfers, home and business loans, and other financial services.
government-owned or a private bank. There are 20 major commercial banks • Industrial or Investment Banks: These banks provide long-term loans or other features to any industrial concerns. • Exchange Banks: These banks deal with the foreign exchange of currencies. A few Indian commercial banks also handle foreign currency exchange deals. • Co-operative Banks: These are set-up regarding small-scale industries and farmer’s concern. Co-operative banks are subcategorized as Central Co-operative Banks and State Co-operative Banks. • Land Mortgage Banks: These banks provide loan-term debentures to agriculturalists and farmers. • Central banks: This Bank occupies the central position in the country and is the financial market’s statutory body. • Saving Banks: these banks promote savings scheme among the middle-class families. However, the savings accounts are monitored by the commercial banks in India. • Indigenous banks: These lend money and finance the country’s internal trade. • Regional Rural Banks: These banks are set-up by the central government for the economic development of rural regions. The commercial banks sponsor these banks.
individuals, businesses, and charitable organizations to raise funds through online platforms by receiving investments or donations from multiple sources in exchange for a potential return or reward. It provides an opportunity for entrepreneurs to secure funding for their projects without relying on traditional sources like banks or venture capitalists. However, investors should exercise caution as crowdfunding investments may carry a higher degree of risk compared to other investment types. It is important for investors to do their due diligence and research the project and platform before making any investments. Crowdfunding is a funding model that is typically facilitated through internet-based platforms. It involves three main actors: the project initiator who proposes the idea or project to be funded, the individuals or groups who provide financial support for the idea, and the platform that facilitates the collaboration between the project initiator and the supporters. While crowdfunding can also be executed through other methods such as mail-order subscriptions or benefit events, the term generally refers to internet-mediated registries.
the internet to connect project initiators with individuals or groups who are interested in supporting their idea. This modern form of fundraising is typically facilitated by a platform that serves as a mediator between the project initiator and supporters. Crowdfunding has been used to finance a variety of ventures, including creative projects, medical expenses, travel, and social entrepreneurship projects. However, while crowdfunding has been suggested as a tool for promoting sustainability, empirical research has shown that this aspect plays only a small role in crowdfunding decisions. Additionally, there have been concerns raised about crowdfunding being used to fund fraudulent or unproven treatments for illnesses such as cancer. Rewards crowdfunding: Entrepreneurs presell a product or service to launch a business concept without incurring debt or sacrificing equity/shares. Equity crowdfunding: The backer receives shares of a company, usually in its early stages, in exchange for the money pledged. The Crowdfunding Centre's May 2014 report identified two primary types of crowdfunding: 1. 2.
utilized for a diverse range of purposes, such as promoting motion pictures and album recording, developing inventions and free software, scientific research, and civic projects. Unlike other types of crowdfunding, such as equity crowdfunding, reward-based crowdfunding does not depend on location for funding, making it more accessible for people around the world. However, funding for reward-based crowdfunding projects tends to be distributed unevenly, with a few projects receiving the majority of funding. As a project nears its funding goal, funding tends to increase, which encourages "herding behavior" among potential funders. Friends and family also account for a significant portion of early fundraising, which can encourage subsequent funders to invest in the project. Despite its advantages, funders of reward-based crowdfunding projects may have overly optimistic expectations about the returns they will receive from their investment, which may need to be revised if returns fall short of expectations. Reward-based Equity crowdfunding involves individuals contributing finance in the form of equity to support the efforts of other individuals or organizations. In contrast to non-equity crowdfunding, there are higher information asymmetries in equity crowdfunding. The creator not only needs to produce the product but also create equity through building a company. Equity crowdfunding involves the offer of securities, which includes the potential for a return on investment. Syndicates, which involve many investors following the strategy of a single lead investor, can be an effective way to reduce information asymmetry and avoid market failure associated with equity crowdfunding. Equity
equity to support the efforts of other individuals or organizations. In contrast to non-equity crowdfunding, there are higher information asymmetries in equity crowdfunding. The creator not only needs to produce the product but also create equity through building a company. Equity crowdfunding involves the offer of securities, which includes the potential for a return on investment. Syndicates, which involve many investors following the strategy of a single lead investor, can be an effective way to reduce information asymmetry and avoid market failure associated with equity crowdfunding. Digital security Debt-based crowdfunding is a financing model where borrowers apply online, and their creditworthiness and interest rates are determined by an automated system. Investors can then purchase securities in a fund that provides the loan to individual borrowers or a group of borrowers. The borrowers pay interest on the loans, which provides a return to the investors. The crowdfunding platform earns a percentage of the loan and a loan servicing fee. This model is also known as peer-to-peer lending, marketplace lending, or crowdlending. Debt-based Litigation crowdfunding is a type of crowdfunding that allows individuals involved in a legal case to obtain funding from multiple investors at once. This funding can come in the form of donations or investments in exchange for a potential reward. Investors can purchase a stake in the case, and if the litigant wins, they may receive a return on their investment based on the compensation received by the litigant at the end of the case. Litigation
or defendants seeking financial support for their legal case. One example of a litigation crowdfunding platform is LexShares, which allows accredited investors to invest in lawsuits. Donation-based crowdfunding is a popular form of crowdfunding where individuals collectively contribute to charitable causes. It involves raising funds for various purposes such as religious, social, environmental, and healthcare services. Unlike reward-based crowdfunding, donation-based crowdfunding does not offer any rewards to the donors, and it is solely based on their altruistic reasoning. The donors come together to create an online community around a common cause to help fund services and programs to combat a variety of issues. However, the increasing popularity of donation-based crowdfunding has raised ethical concerns due to the risk of fraudulent campaigns. Donation-based
which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members. People are able to think more freely and they suggest as many spontaneous new ideas as possible. Brainstorming combines a relaxed, informal approach to problem solving with lateral thinking It encourages people to come up with thoughts and ideas that can, at first, seem a bit crazy Some of these ideas can be crafted into original, creative solutions to a problem, while others can spark even more ideas.
influences The SWOT matrix is a simple tool for beginning a systematic analysis of your program. SWOT stands for Strengths, Weaknesses, Opportunities and Threats; Opportunities and Threats are considered external.
allocation of resources to attain organizational goals. This process is based in four key functional areas of the organization: planning, organizing, leading, and controlling. The best definition of Management refers to the optimal way to accomplish tasks and achieve goals, using Planning, Organizing, Staffing, Directing, and Controlling functions or processes. Additionally, a lot of important information regarding management and how it works can be derived from this definition. It is management that regulates man’s productive activities through co-ordinated use of material resources. Without the leadership provided by management, “the resources of production remain resources and never become production” MANAGEMENT TEAM 10 Definition, concept & importance of management
element in every business. Productive resources-men, money, materials-are entrusted to the organising skill, administrative ability and enterprising initiative of the management. In the words of George R. Terry, “Management is a distinct process consisting of planning, organising actuating and controlling, performed to determine and accomplish objectives by the use of human beings and other resources.”
to act toward achieving a common goal. In a business setting, this can mean directing workers and colleagues with a strategy to meet the company's needs LEADERSHIP TEAM 11 Integrity Ability to delegate Communication Learning agility Influence Empathy 6 characteristics of a good leader:
our social company wants to hire people with intellectual and developmental disabilities or to hire people who are in a situation of social exclusion. We have many restaurants like this in different places, they all have the same theme, very cozy and a quite good environment to be able to eat quietly. Apart from that our restaurants are prepared really good for all types of people who come. All our premises will have chairs and tables for the people who are in the premises so that they can eat. DESCRIPTION OF OUR COMPANY TEAM 12 Our restaurant is not just a restaurant, it’s a whole unique experience. Since you took the first step inside you will see a fancy but cozy design, with comfortable chairs and some fascinating pieces of art on the walls. As my colleague mentioned above, we have a quiet environment. Usually, we are playing some Jazz and on weekends special guests are a must.
everyone; We don’t just serve food, we serve moments of feel-good, all with the lighthearted, unpretentious, welcoming, dependable personality consumers know and love; Life is Good: To spread the power of optimism; To create a better everyday life for many people; To inspire humanity; Our pursuit is to provide employment for individuals with special needs; To try and give opportunities to those who may not get them other places; Awareness and education projects for sustainability and development cooperation ; Solidarity economy companies; Facilitate the social incorporation of people, promoting the necessary changes both in the people who demand it and in society, to build inclusive communities; Provide a fun and safe environment where customers enjoy good food with quality ingredients and at affordable prices; To provide quality food made with good and fresh ingredients; To create a fun space and a safe environment for all the customers; To have a good enery betwen clients and workers. MISSION OF OUR COMPANY TEAM 13
customers. We want show them our quality and delicious food and drinks. What we want to be in 2026? the most famous fast food restaurant in country the most widespread restaurant in country have the most restaurants around the world What we want to have in 2026? the best prices of our foods and drinks the kindest employments the most types of food the best environment
find a city that, well, contains that demographic. Considering the target age is approximately between 20 and 30 years old, the most beneficial city would be a university city. The area the company would be situated in should be relatively close to the "main" university in that specific city, and preferably located near a space where students spend their free time (such as near a coffe shop, a mall, a restaurant, etc). CHOOSING OUR BUSINESS LOCATION TEAM 16 Considering the fact that our company is a social company, a younger demographic (~20 - 30 years old) would be most preferable, due to the fact that our goal, in essence, means making a change in society (hence why younger generations are prefered; they hold the power of the future of our world).
how a company serves its customers and treats its employees.Every industry and individual business has its own values. ETHICAL VALUES OF OUR COMPANY TEAM 21 Integrity Trustworthiness Loyalty Equality Compassion Respect Lawfulness Providing excellence Responsibility Upholding reputation Accountability Some examples of the ethical values:
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