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Assignment 3 – Australian Business Establishment Road Map Weighting:       40%

Task Instruction:

For a business type of your choice, write a road map of the steps to be taken to establish this business and the planning, management and organisational aspects of the business for the first year of operation.

Initially, write a very short introduction that provides the name of the organisation, outlines the key business activities and describes the industry it is in.

It is expected that you will address

1. The proposed business model and value proposition for the business
   • Proposed business is a virtual reality property tours that involve the application of virtual reality technology into the real estate market to provide 3D virtual reality property tours.
2. Business registration requirements and processes
   • Business name
   • ABN
   • Tax agent number
   • Be sure to have reference to the appropriate gov. website (e.g. ASIC, tax…)
3. An appropriate business structure
   • Specifically Ownership structure
4. Banking arrangements
   • Think about how to keep track on business
   • Loan arrangement
   • EFTPOS merchant – fees and applications
5. All aspects of compliance that will need to be considered for this particular organisation to establish and grow, including setting up record keeping systems
6. Any IP issues which are inherent in the business activity
   • The use of virtual imaging
7. Business stationery requirements and templates
   • Have to include a template of formal invoice in the appendix
   • Employee records
   • Shareholder records
8. Arrangements for premises and business facilities, and insurances
   • Location of the company
   • List of insurances needed
   • Safety working environment
9. Systems and procedures to begin operations and operate for the first 12 months
   • Include proposals of different aspects
   • invoices
10. Trading issues and cash flow needs in the first 12 months
    • Set-up cost
    • Estimate how long does it take to start getting sales?
    • The ins and outs
11. Establishment of employment records and employment contracts
12. Generation of a step by step approach to this topic is part of the requirements, to demonstrate your understanding of sequencing requirements in establishing a business.

Scope:

This assignment will assess your understanding and knowledge of the practical operational aspects of starting a business, as covered in the whole course.

Length and Presentation:

1500-2000 word document, including diagrams and graphical elements as appropriate. Appendices can be included.

Criteria by which your assignment will be marked:

• demonstrated knowledge of legal requirements for setting up a business and business infrastructure requirements
• addressing the questions asked
• clarity of explanation provided

References:

• for everything that you do in regards to applying something – ABN, business name, IP etc. or any legal issues, please include the references
• Include as much references as you need but at least 10 from valid websites or other sources
• please use as much gov website and business registration website as possible