Australian Business Establishment Road Map – Digitex Virtual Reality LTD. (DVR).
Assignment 3 – Australian Business Establishment Road Map Weighting: 40%
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
- 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.
- Business registration requirements and processes
- Business name
- Tax agent number
- Be sure to have reference to the appropriate gov. website (e.g. ASIC, tax…)
- An appropriate business structure
- Specifically Ownership structure
- Banking arrangements
- Think about how to keep track on business
- Loan arrangement
- EFTPOS merchant – fees and applications
- All aspects of compliance that will need to be considered for this particular organisation to establish and grow, including setting up record keeping systems
- Any IP issues which are inherent in the business activity
- The use of virtual imaging
- Business stationery requirements and templates
- Have to include a template of formal invoice in the appendix
- Employee records
- Shareholder records
- Arrangements for premises and business facilities, and insurances
- Location of the company
- List of insurances needed
- Safety working environment
- Systems and procedures to begin operations and operate for the first 12 months
- Include proposals of different aspects
- 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
- Establishment of employment records and employment contracts
- 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.
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
- 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