Small Business Profile
In this area you should write your small business profile. This area should describe your business and what it does. It should cover such areas as;
1. What the business activity is:
Describe in detail what the business is providing in the way of goods and/or services. How does it intended to operate in each of it's target markets? How many products/services is the business going to offer? And how will these be developed?
2. The ownership structure:
How is the business set-up? (sole trader, partnership, company etc) How is the management structure going to be set-up? Who else is going to be in the business?
3. The business name:
What is the the business name? What relevance does it have to the operation of the business. Is this the business name to be the same offline as online? Your domain name (web address) should ideally be the same as your business address, both for consistency and continuity.
4. The business location:
Where the business is located (or locations if more than one). Premises type, owned, leased or rented and a snapshot of the facilities and equipment etc. Or are you just going to distribute? Either offline (shipping physical products) or online (electronically receiving orders via the Internet). In this case location is how popular your website is (ranked on the Internet), and more importantly how much traffic you are attracting.
5. Relevant business history:
How the business got started and also provide here the annual sales turnover and profit from the past years (if available). Also a forecast of future sales and expected profit 1 - 2 years out.
6. Legal requirements:
What are the legal requirements to operate the business? Licences, permits, business or company name registration, ABN and GST registration, PAYG requirements (See Australian Tax Office Links).
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