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Changing to an Incorporated business structure

He needs be aware of the dangers of supplying internationally, especially as he only has one supplier. He needs to ensure he has more suppliers need be, or find out if he could source locally without losing profit

Expanding his product range to stand out,

Location and knowing his consumers, as his product is most typically being bought by children it would be smart to make his product more available to children rather than just in street fares. Problem being is street fares are not a regular event and not accessible to all of his consumers. If he did not want to create his own store he could in turn look for a way to sell through another business as one example.

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Abhinav
We recommend that FFS
should look into long term debt borrowing.
Advantages

This gives the business advantage in taxation.

With long term borrowing the business has the option to use the fund for expanding.

Disadvantages

Credit rating

Cash Flow

Bankruptcy

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the main focus for tax is to observe what type of tax people pay. There are two types of taxes the federal tax and state tax. There are different taxes that apply to different business. one of the most important tax obligation is the goods and service tax and the ABN

-He has to collect GST and must have a ABN
-He would have to pay income tax and company tax for federal department and payroll tax for state department.
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- Employ expertise. For examples a modifier of Fidget Spinners for more exclusive designed Fidget Spinners or an IT expertise for website setting and online marketing.

-  Staff training. Provide each employees a educational training which related to their role.

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What advice would you provide the owner to ensure success in the establishment phase and beyond?
- Advise the owner to expand product range as fidget spinners will come and go.
- Advise the owner to develop own creative ideas to distinguish them from competition.
- Advise the owner to be diligent and consistently work towards the success and betterment of the business.
- Advise the owner to manage his time effectively.
-Advise the owner to take moderate risks.
- Advise the owner to create a business plan and conduct market research.

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My main focus is to manage the roles, wages, benefits and activities of the employees in ABCD. SMEs might fails if human resources is not well formed because employers could be lost. Therefore, putting all workload into the business owner and also decrease the productivity of the
business.

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What is my main focus

What good or service or you providing

How you do it, and how you do it at a prof

The way a business runs
Assists the Business Direction

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Brandan Kumar
What is my main focus?

The main focus of the director of marketing focuses on who the consumer's are and what their needs/wants are.

What things can impact the establishment of a SME?

In my expertises a director of marketing is essential for a starting up businesses as they need to know who they are selling to and how to get out business across to them, to ensure their business excels.
Fidget Spinner Spinners

I recommend  the following

More colourways for children as they are attracted to “shiny” objects

Become a distributor and sell to primary/high schools.

Different materials for more luxury fidget spinners.

Market on instagram because all the kids/teenagers use instagram on a daily.

Have a “design your own” fidget spinner option on a website.

Have cartoon characters on spinners to attract children.

Expand customers and market at workplaces for adults who need to keep busy, for example workers in

Bump up the price to $7.50 and have deals for example two for $13.

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What is your focus? To enhance and develop the skills of the entrepreneur.
What things can impact the establishment of an sme? A personal growth coach can impact the entrepreneurs cognitive thinking. Hence, affecting the decisions the entreprenuer makes for the betterment of the business. Also, a pgc administers the entrpreneur management and leadership skills which will affect how well the owner will lead the business into success as well as how much influence they will have over its employees and market.

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What is Your Main Focus
The objective a Legal Director is to ensure that the business is complying with the laws and regulations of the ACL

What things can impact the establishment of a SME

Legal Directors guide SME owners to abide by the law so that they cannot be sued or risk the reputation of the business.

Recommendation:

Copyright Act 1968

ACL - all products must comply with the regulations of the ACL.

Products must comply with relevant mandatory standards

Must identify the risks or hazards of the product

If a product or service presents a safety risk or is non-compliant with a mandatory standard or ban, it may need to be recalled.

Product Safety
Tony could be at risk of finding himself in a very costly court battle

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What is your main focus? Our main focus is to be able to provide funds to our company.
What things can impact the establishment of a sme?

Equity finance is the funds contributed by the owner to start and then expand the business. Debt Finance relates to the short-term and long-term borrowing from external sources.

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FFS business advice...
1. In your area of expertise - what advice would you provide the owner to ensure success in the establishment phase and beyond?

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What is your main focus?
What things (in your area of expertise) can impact the establishment of a SME?

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