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BAM5.014 Management (Operations)
DBC5.001 Business Operations
Kelly is contemplating setting up a business selling custom t-shirts and sweatshirts which feature artistic images of customer’s pets.
Nobody else offers this type of product and Kelly is keen to take advantage of being the first to offer such custom products for pet lovers.
Kelly is trying to decide on the type of business structure she will use to undertake her business. She has decided on the name Paw tees and wants to operate as either a sole trader or a company.
She is having trouble convincing friends and family of the merits of her business idea. However her friend Pixie, who is a social media influencer, thinks it is a great business idea. She is very supportive of Kelly’s business ideas and says she would definitely buy that type of product from Kelly and recommend Kelly’s business on her Instagram.
Pixie tells her friend Luna about Kelly’s business idea. Luna is keen to join Kelly in this business venture. Luna is very skilled in graphic design and Photoshop but has limited capital she could contribute to the business.
Pixies also tell her friend Tasman of Kelly’s business idea. Tasman recently won the $50 million Powerball jackpot and whilst having no experience with business or graphic design is keen to invest in Kelly’s proposed business.
- Provide an evaluation of the advantages and disadvantages of setting up Kelly’s business as a sole trader or as a company. (15 marks)
- If Kelly decides to set up a company where might she look to ascertain that her proposed business name “Paw tees Limited” is not already in use? (5 Marks)
- Explain what is meant by a “first follower” like Pixie in an innovative business movement such as Kelly’s proposed business. Discuss the importance of the role of “first follower”. (5 Marks)
- Evaluate the advantages and disadvantages that may exist should Kelly instead choose to enter into a general partnership with Luna. (12 marks)
- Explain with reasons why Kelly might decide to enter into a limited partnership with Tasman rather than enter into a general partnership with Luna. (7 marks)
- Discuss the ease of setting up small business enterprises such as Kelly’s proposed business in the New Zealand economy with reference to the World’s Banks Ease of Doing Business criteria. (6 marks)
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