Rosie Wellings L4 Creative Enterprise

 A business plan presents a business’ strategy and expected performance. Establishing how you will achieve your business goals. The business plan maps out the current situation of a business, the future goals and what they need to achieve the goals. Presenting to investors before you start your business, how they will make money. - Current status of business,  - Future vision; showing creative and commercial vision together. - Values,  - Product/services; what you will be providing customer with, how they fulfil your vision. - Management and Team; why your qualified to run the business, plans to expand? - Market; who are the customers, will they want products? Research into this. - Industry and competition; research into gaps in market etc. - Operations; how business will run (premises, supplies, tools, transport, security/ insurance, legal) - Finance and funding; pricing etc. A business model is used to achieve and build their value. This includes describing the busines...

 Sole traders are most common in the beginnings or start-up of a business. Sole traders are people who run a business independently and are self-employed and after paying tax, they keep all the profits. These types of businesses are simpler to set up but a sole trader is fully responsible for their business and any losses/ debts made. This adds to accounting responsibilities. A creative example of a sole trader could be freelance videographers/ photographers. Partnerships are like sole traders in that they are usually used at the beginning of a business and are the simplest way for more than one person to run a business. The multiple owners will usually write up a deed of partnership. These will outline the amount of capital each person has contributed into the business, how losses and profits will be shared and the type of partnership between the people and business. Partnerships can also have a ‘sleeping partner’ who invests in the company but doesn’t offer any support in runni...

 SWOT Analysis on myself Strengths -I’m a young person who regularly uses social media, giving me the tools to understand what is trending/ popular at the moment. -I have good social skills in talking to new people and this could be used to help me attract new customers/ work contacts -I aim to improve my filmmaking skills as this is what I want to do in the future  -I am passionate about filmmaking and social issues. Weaknesses -I cannot drive yet, therefore travel is limited -I don’t have much experience/ developed practical skills in my preferred field -I struggle with professional independence and decision making, wh9ch may lead me to relying on other people. Opportunities -I could take advantage of social media and young people’s interests/ passions. -My passion for filmmaking and fairness in society could lead to an opportunity of creativity. -the creative industry is growing more than 4x the rate of UK economy as a whole Threats -creative industries can be niche and not...