Transcript: Some useful information is that you always must know your partner. Never go into a partnership without knowing your colleague, it makes business a lot easier and more productive. Disadvantages of partnership: - business as partnership do not pay income tax, each partner files the profit or losses of the business on his or her own personal income tax. - easy to establish https://www.youtube.com/watch?v=4_NEaGukdoc To pick good business partner you must first list out the expectations you have for your partner and then pick a close friend or person that meets those expectations, and don't forget trust is a HUGE bonus in the business! Before you choose your business partner you should always think about what they can bring to your business. How to pick a good business partner. - the liability of partnership for the debts of the business is unlimited. - each partnership is "jointly and severally" liable for the partnership's debts that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts. Advantages of Partnership: Business Partnership Definition of Partnership Partnership is an agreement in which two or more individuals share the profits and liabilities of business venture. Useful information. add logo here
Transcript: We bring to you ... Products On our first year! And for the next 2 years! Thank you! Owners Primary: Students and Professionals Secondary: Parents and kids Future: Business Partners Location Serrano - Php 60,000.00 Guevarra - Php 45,000.00 Gudgad - Php 45,000.00 Competitors Total Sales - PHP 3,373,050 Profit - PHP 105,067 Open everyday! a. Yelo! As a Snow b. Café Ilang- Ilang c. Green Pastures Return of Investment Prices Near: San Sebastian College San Beda College University of the East Centro Escolar University Vision Capital - Php 150,000.00 Ultima 1 Bldg. Legarda St. cor. San Rafael, Quiapo, Manila To be a company that cares about the health and well-being of our customers and our planet with our flavorful sweet delights. Net profit - Php 105,067.20 We're better than them! Ending Cash Balance - PHP 201,867 Lollicakes - Php 20.00 Mousse - Php 60.00 Cupcake - Php 45.00 Leche flan - Php 130.00 Misty Grace Serrano - 40% Jhoana Pauline Guevarra - 30 % Jasmine Gudgad - 30% * Free taste during launch * Flyers and leaflets distribution * Social Media marketing 8am - 10 pm To be a passionate business provider helping everyone to foster a healthy lifestyle for you and your family inspired by using all natural pure ingredients. * Accessible location for our market * Price is set by the capacity of our market * Promotes healthier living *Organic and Natural *Wifi access to customers Marketing Strategy Mission Target Market 70.04%
Transcript: gains and losses • Method: income statement - Loss: lower revenues and higher expenses - Gain: Highest revenues and lowest expenses 40,000 dollars to start the business 20,000 dollars will be from our personal funds 8,000 dollar loan from family and friends 12,000 dollars from SBA's Small Business Investment Company Program • First few months: Expenses exceed revenues • Afterward: Sale increases-> cash flow changes from negative to positive Website realistic outcome consists of company history products policies (staff included) also include job opportunities allow customers to contact using email The Three Misters Bakery and Cafe thank you for watching! sources and start up money Our Business geared towards young high school/ college students Our ideal customers are local residents middle income class relaxing environment for customers searching for a quiet cafe with free wifi Arcadia, California (Santa Anita Westfield Mall) JJ Bakery Taiwanese Bakery neighborhood bakery Paris Baguette South Korean Bakery french inspired Asian fusion Porto's Bakery Cafe Cuban Bakery family bakery As much as we would like to succeed in such business, we don’t think that we will be able to make profit and have the stability we would long for. After creating this business and learning all about it, we have realized that there is a lot of responsibilities that are dragged along with risks that are associated with this. The business world is very competitive, and it is never to be thought lightly of. Will we be able to go into this business? Clientele Location and major competition partnership business retail decided on the name The Three Misters as a reference to the three different regions of the world that we will be serving at our cafe.
Transcript: PARTNERSHIP BUSINESS Shahriar Mohammad Tanveer Presented by INTRODUCTION A legal form of business operation between two or more individuals who share management and profits. INTRODUCTION Partnership Types Types of Partnership General Partnership Limited Partnership Limited Liability Partnership General Partnership Equal share of the business. All partners are liable for any mistakes. Economic responsibility is based of contribution to the startup. Economic benefit based on contribution to startup. Limited Partnership One general partner with unlimited personal liability. Other partners only contributes to funding. In case of a failure, limited partners only loses their initial investment. If the business succeeds, limited partners share profits. Limited Liability Partnership All partners are limited partners. All involved have limited liability. All partners has influence on business decisions. Advantages Advantages General General Easy to get started. Privacy. Decision Making Access to knowledge, skills, experience and contacts. Better decision-making. Decision Making Financial Financial Sharing the burden. More partners, more capital. Disadvantages Disadvantages Potential for differences and conflict. Slower, more difficult decision making. Profits must be shared. Unlimited Liability. Partnership Business in Bangladesh Partnership Business in Bangladesh Source : http://en.banglapedia.org Number of partnership firms in comparison to joint stock companies
Transcript: Maryam, Vanesha, Jagdeep, Razia, Nicholas Partnership Business - a business run by two or more people General Partnership Limited Partnership Typical Partnership Our Partnership Examples of Canadian Partnerships -Register the name with a appropriate authorities such as city hall or local chamber of commerce - Therefore some lawyers have partnerships to serve a wider client base - All partners have unlimited liability for business debts - choose a business name for your partnership - Adv. not a lot filing which results in less annual filing fees - decide who will be in charge of signing documents and making large decisions Step 3 - Destiny's Weddings - Put everything in writing -Disadv. partners might have a disagreement which may lead to a failed business Thanks for watching! :) - Disadv. general partnerships dissolve if one of the partners dies, retires or withdraws - choose a business name that helps create an image you can use in all documents (logos) - consider all the pros and cons - Adv; partners can leave or be replaced without ruining the business - Disadv. partners would have a limited role in managing the company - Disadv. it might be hard to find a suitable partner that you can work with - A2Z Construction (renovators) - decide on the legalities including the rights and obligations of every partner Step 1 - Brooks Barrister and Solicitors (law) - make sure everybody understands their position and duties before signing anything - A wedding planning business - decide in advance which partners will hire employees - 5 partners - Lawyers specialize in different areas of law such as civil, divorce, real estate, corporate and family - Adv. partners share responsibilities and lighten the workload - hire a lawyer to make a contract - Girlfriends (salon) Step 5 - you might be required to file for permits or licenses for your company Step 2 Step 4 - when partners are only responsible for paying back the amount they invested - Adv. partners have a lot of flexibility in their work hours and vacation timings - Adv. businesses that have partners with different talents are very successful - Disadv. partners need to able to trust eachother, if trust is broken then it could end in a failed business
Transcript: actual person vs legal person min 1! Limited company business-connected bills (equipment, stock) Limited Partnership Limited Liability Partnership UTR number for tax return 5th October all the partners' names + business name Not truly british but.. own names keeping business records 3) Registration for VAT 1) NP -> registering for Self Assessment with HM Revenue & Customs terms: Ltd, plc, LLP sensitive/offensive words too similar to already registered trademark suggesting connection with government/local authorities Number of partners -> shared personal responsibility "nominated partner" All the partners must: [invoices, letters] 2) Separate registration for the rest all potential losses at least 2 self-employed individual NP is obliged to: "Ordinary Business Partnership" send a personal SA tax return pay Income Tax on their profits share pay National Insurance Business Partnership Sort of partners individual input/deed -> size of business' profits share managing tax returns send a partnership SA tax return 79.000 pounds/year no legal personality! "Firms" by Wojciech Chmielewski 1) Business partners Business Peculiarity & Representation General & Legal Responsibilities Setting up! Partnerships' tax responsibilities Process of naming
Transcript: SOLUTION BIG PROBLEM OUR COMPETITION IS BIG PROBLEM TIMELINE Our competition is big and combining will make us bigger than them! This is HUGE oppurtunity to make money! We can combine businesses and become very sucessful! PROJECTIONS Business Pitch UNDER THE HOOD Both of our toiletrty companies are faling. If we combine, we won't have to struggle! MARKETING SUMMARY If we combine, our projections will sky-rocket! COMPETITION MEET THE TEAM MY TEAM My team of desingers is the best yet. If we combine with your company, my desingers can teach yours a little something and they could come up with even better ideas! AMAZING SOLUTION BUSINESS MODEL BIG PROJECTIONS Alexis and Beyonce' Company
Transcript: Nobody knows babies like we do! Quality products . Good Customer service. Every Kid really loves this store.. BABYLOU ABOUT US About Us BabyLou was established in 2004. It has been more than a decade since we started, where we have ensured to take care of every need and want of every child and infant under one roof, true to the caption “NO BODY KNOWS BABIES LIKE WE DO”. Our benchmark is to provide 100% customer service and satisfaction and continue to deliver the same with a wide range of toys, garments and Baby Products. Play and Create We Are Best 01 02 03 Block games Building Blocks help Kids to use their brain. PLAY TO LEARN in Crusing Adventures Our Discoveries Enjoy a sunny vacation aboard a luxury yacht with the LEGO® Creator 3in1 31083 Cruising Adventures set. This ship has all the comforts you need, including a well-equipped cabin and a toilet. Sail away to a sunny bay and take the cool water scooter to the beach. Build a sandcastle, enjoy a picnic, go surfing or check out the cute sea creatures before you head back to the yacht for a spot of fishing. Escape into the mountains Disney Little Princes in Also available for your Babies..... Also... Out of The World… Our reponsibility BABYLOU…. Our Responsibility All children have the right to fun, creative and engaging play experiences. Play is essential because when children play, they learn. As a provider of play experiences, we must ensure that our behaviour and actions are responsible towards all children and towards our stakeholders, society and the environment. We are committed to continue earning the trust our stakeholders place in us, and we are always inspired by children to be the best we can be. Innovate for children We aim to inspire children through our unique playful learning experiences and to play an active role in making a global difference on product safety while being dedicated promoters of responsibility towards children.
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