Managing Financial Resources And Decisions

Good Essays
IDP 2: Managing Financial Resources and Decisions


All businesses need finance because that refers to sources of money for business. The reason why firms need finance to:
- Start-up a business – eg: pay for premises, new equipment and business strategies short-term or long-term.
- Run the business – eg: having enough money to pay for rent, rate, bills, wages and suppliers on time.
- Expand the business – e.g.: having funds to pay for new equipment, new office or a branch in a different city or country. (BBC News, 2014)
Therefore, to start trading, the financing is most important contribute to success. However, star-up trading often have a difficult time and a long time finding sources of financing for initial
…show more content…
That time for relaxing to eat some cakes and enjoy with a cup of tea. Based on that I have decided start-up a small business – it’s a teahouse which similar to Starbuck or Costa coffee.
Customers could come to buy drinks in this case tea to drink in/take away. I want to bring tea cultural of Vietnam to the UK, introduce and make refreshing style afternoon tea. Instead of serving only one kind of tea, my teahouse able to produce many kind of teas such as lotus tea, jasmine tea, fresh leaf tea etc. and salad fresh fruit, frappe fruit, it’s healthy way to enjoy afternoon tea. Tea drinking makes people feel more relax and comfortable, light snack made of rice flours, which is much lighter than cakes made by flour. Besides, definitely tea is not only a drink but also as remedy to cure head-each, good for indigestion it’s a good idea for health in modern busy city life. The subjects I was directed to everyone in the class society, not only the aristocracy and upper but also everyone can enjoy. No class in division in TEA DRINKING.

Please see pictures provided above and below for example of Vietnamese Tea culture which is wide spread though out Vietnam.

1.2 Detail financial planning

After finding out my purpose, I believed that the most important first step is having gotten a list of detail about finance for my business such as how much funding I need and what exactly the funding will
Get Access