Wir stellen vor:
Ihr neuer Präsentationsassistent.
Verfeinern, verbessern und passen Sie Ihre Inhalte an, finden Sie relevante Bilder und bearbeiten Sie Bildmaterial schneller als je zuvor.
Suchtrends
Laws
In this presentation I will talk about the legal and financial aspects of a business. This business will relate to sport and three different legal influences on the business. I will list 3 laws, insurances and licensees that the business will need.
Insurances
Wages
Capital
Sales
Cash Inflows
Licenses
Stats
Cash inflow
Schools
Parties
Other events
Legal Influences
Sales are the amount of products that the business sell. If a business deliver goods then that's what sales means. However in cases like premier sport that deliver a service they can class getting a school involved as a sale as that's where their income will come from.
Laws
Cash Outflow
Wages is a set amount of money that employees get paid per hour that they work, the rate of pay varies and can change if a pay rise is given. This will be paid to all employees every month. Depending on the presentation, this line item may also include payroll tax expenses and other benefits paid to employees. Wages will be one of the biggest of premier sports cash outflow, as they have a lot of employees to pay wages too.
Capital in other terms means the assets that are owned by a business. Its not money it mean how much their possessions are worth. For example, a company like Nike would have a lot of assets because they are a company that deliver goods, whereas premier sport deliver a service so they don't have many assets. Their capitals would be their equipment, staff, base.
Cash inflows simply means all of the money that goes into the business. Businesses will make their money through the products they sell that then get purchased by customers. Income can come be received in many way through sales, financing and investments. Businesses that have a stable flow of cash coming in are considered to be in a good financial position. Premier sport would have a large amount of cash inflow because they deliver their service to a high amount of schools and other receptions.
Insurances
Wages
Rent
Petrol
Equipment
A license is a permit from an authority that allows you to
- own or use something
- do a particular thing
- carry a trade
Most businesses need some sort of license, depending on what the business is, not all licenses are permitted.
Sports law is a collection of laws that apply to athletes and the sports they play. It is not a single legal topic with generally applicable principles. Sports law touches on a variety of matters. Some laws depend on the status of the athlete, some laws differ according to the sport, and some laws vary for other reasons. In this section I will describe three different laws that apply to the business I have chosen, premier sport .
Sport businesses need insurance to cover themselves as a company to avoid any customers being able to sew them for an reason. If a company doesn't have insurance and someone gets injured then that person can take the company to court and get a lot of money paid out to them. If you take out Sports Business Insurance you’ll be protected and should a claim arise following injury to a member of the public they will be covered for against it.
Licensing
Purchases
Loan Repayments
Rent
Equipment
Capitals
Purchases
Cash outflow
Staff
Equipment
Cars
TV License
PPL
RIDDOR
Child Protection Act
Sales
Loan Repayments
Rent
Coaches Insurance
This is the purchases that a business will make, the businesses that sell good will make a lot of purchases when it comes to buying and re-stocking the stock in their store. However, premier sport delivers a service so the only purchases they make will be to buy new equipment.
Many smaller businesses take out loans in order for them to be able to set their business up. Once they have taken out this loan to get it up and running they have to start repaying this loan back to the company mostly banks. This is why in the first few months, years, company's do not make profit because the inflow they get goes out on paying back the loan they used to start it and other essentials. Big businesses may also take out loans if they wish to expand, or buy into new shares.
Equipment Insurance
Rent is a regular payment that gets paid to a landlord or a bank or whoever you owns the property that you are paying to use. Companies pay rent on the stores that they have as a place to sell their goods from. Some big businesses will own the shop which they will have brought out right. For businesses that rent out places and units the rent often is determined on how big the space they wish to rent is.
Cash outflow is also exactly what it says, just the opposite. This means all of the money that the business has to pay out. The total outgoing funds from a company in a given period of time. Cash outflows include expenses such as salaries, supplies, and maintenance, as well as paying dividends or servicing any debt held by the company. If the company is not doing well it means cash outflows exceed cash inflows.
You have to have a TV License if you watch or record programs on a TV, computer or other device as they’re broadcast. A TV License costs £145.50 for your home or business per year. You can be fined up to £1,000 if you watch or record live TV without a license. The money which you pay for a license is used to fund the TV, radio and and online services of the BBC. Pubs and sports facilities have to hold a TV license if they want to show matches or other sports events on their TV. For example if a sports gym is holding an event to watch the world cup they need to make sure they have a full TV license before they can use a TV in their premises. Premier sport may need this as they may use a TV to help deliver their sessions by showing videos, they may also use a TV if they have recorded evaluating a session to watch back on it.
PPL is a license that is required in order to allow a business to use music including TV and radio. If s company uses music in for example, the Nike store will have PPL because they have music playing in the back ground of their shop. Any business that plays music or voice overs are legally required to have a PPL license to be able to do this. This is a license that premier sport may need, as they deliver a coaching service, in some of their sessions they most probably use music in the background to make it more fun and to engage the children. This means they will need a PPL license to allow them to play music in public. The price of the license depends on many factors like what business is and how bog it is etc, however it can start from 19p per day.
RIDDOR - also known as the 'reporting of injuries, diseases and dangerous occurrences regulations. This law means that if you are an employer or own a premises where people are working you are required under RIDDOR to report anything that is covered under the law. Its only required to report any cases if they are work related, just because the incident happens in the works premises, this does not mean its work related, the work they are physically doing must contribute to the accident. There are 4 main injuries that are deemed reportable under RIDDOR which include; death of any person, specified injuries to workers, injuries that result in workers being incapacitation for more than 7 days and injuries that result in them being taken straight to hospital for treatment. This law would affect premier sport because when coaches are coaching children, or when coaches themselves are in training if anything happens, the indecent will need to be reported.
Safeguarding is a term which is broader than ‘child protection’ and relates to the action the commission takes to promote the welfare of children and protect them from harm. Safeguarding is everyone’s responsibility. Safeguarding is defined in Working together to safeguard children. Children and young people under 18 years of age are an especially vulnerable group and therefore the commission is concerned to stress the importance of charities having proper safeguards in place for their protection. This affects a sport business in the manner that if the business involves for example coaching children the coaches will need a DBS and had a safeguarding course. This is because they need to know the appropriate and right way to look after children when they are in their responsibility. As premier sport is a business that provides a coaching service, each and every single coach will have to have the correct qualifications, ensuring they are up to date. This is to ensure that the children are safe and being well taught within each session.
Whatever your sport business and whatever the size, if a company owns their own equipment, it would be wise that they have insurance on all of it. If the company do insure their equipment its means that if any damage happens to the equipment for example, by the public using it, the insurance will cover this and through insurance it will pay to repair any of the damage. Also if any goods get stolen this will again be covered and a percentage of new equipment will be paid for by the insurance company. If a company does not have insurance on their equipment it means that if the equipment broke they would have no cover meaning they would have to pay for it all out right on their own. Premier sport should use this because they use a lot of different equipment in order for them to be able to deliver their sessions.
Coaches need to have the specific insurance from their National Governing Body as it will cover them for both public liability claims and personal accidents. The insurance will cover the costs of any claims for compensation or legal expenses. A benefit of being insured for your sport is that although you may be extra careful with your setup and the participants, you can never fully know what a kid is going to do. Similarly, you may have a participant who is consistently mischievous, putting themselves at a much higher risk of injury. The price for insurance will differ for different sports but will also depend on how qualified you are and how much responsibility you have within the club. This is the most important for premier sport as it is a business that delivers a coaching service. All the staff that work for premier sport need to be covered by coaching insurance to insure any claims are covered.
Duty Of Care
Public Liability Insurance
Driving License
Public liability insurance is an insurance that company should take out. This is because it covers the business if any member of the public is injured in some way by your business and covers if any damage is made to third party property when taking out work on your business. Public liability insurance is not compulsory, however most businesses are prepared to pay for this insurance cover as in the long term it can save them a lot of money if a person does get injured. This relates to premier sport because as a company that delivers a service of coaching sport to children, its quite likely that one of the children can get injured during the session. A big company like this will have the insurance cover as it means they cant be sewed by parents etc.
Within premier sport there are various people who have the title of 'duty of care'. This is because in the hierarchy, there are stages at which people are on different levels but have a duty of care for those who are under them. 'Duty of care' is a legal obligation that is used to make sure people within a work place are safe. For example, risk assessments are put in place to be followed to reduce risk of injuries and incidents that can occur. This is also used in sport to help make sure that people such as coaches keeps people safe, this can have a positive effect on sports and a business because it helps make sure that everyone is safe and it helps make sure that managers and coaches to have responsibility of looking after people under their care. If you are working with young children e.g. in sports you need to make sure that you have DBS checks and go on a safeguarding course as this will help ensure that they are safe at all times. There will be a duty of care for the people at the top of the hierarchy such as managers to make sure that the coaches are well treated and trained, the coaches then have a duty of care to deliver the same care for children they coach.
As the business delivers a coaching services to schools all over the UK, its important that the coaches are able to get to the location that are booked. This means its ideal if they can drive as it opens up new opportunities to widen the business and its name. This then will mean coaches can travel to different areas, so more schools can get involved in the program and more sessions can be delivered. A driving license comes from the coach independently, that's outside of the business, however its a bonus if they can as again it means widening the area that sessions are delivered too. The price is £25 for the theory side, and the practical is £62, this may in some cases be paid for through the business.