Additionally, after establishing a legal entity, 1t is crucial to obtain the necessary licenses and permits required to operate your specific type of business.. Business and professional
How to set up a buSIness - cà 1201211121112 11 1152151 115111112111 xa ey 5 1 How to get & contact to CUSOITCTS 5 20 10222111122 1112211152111 1 121111 8 xkg 8 2 Some main 1ndustries & business profess1on c -c c2 s2 2s 10 3 Describe functional structure, divisional structure, flatarchy structure & matrix
Starting a business can be an exciting yet challenging journey that requires careful planning and execution The first step is to establish a legal entity by registering your company with the appropriate government agency, such as the Secretary of State’s office, which provides a legal structure and protects personal assets In the U.S., businesses can choose from various legal entities, including sole proprietorships, partnerships, limited liability companies (LLCs), and corporations, each with its own set of advantages and disadvantages It's essential to select the legal structure that best aligns with your business goals After establishing a legal entity, obtaining the necessary licenses and permits is crucial to ensure compliance with local, state, and federal regulations, thereby avoiding potential legal issues in the future.
To access government services and fulfill tax obligations, obtaining a Tax File Number (TFN) is essential This unique identifier, issued by tax authorities, can be applied for online or in person at the tax office.
To obtain a Tax File Number (TFN), you can submit the required documents and Form W-7 by mail to the address specified in the Form W-7 Instructions, use an IRS-approved Acceptance Agent for processing, or present your documents at IRS walk-in locations Keep in mind that the TFN application process may differ based on your country's tax regulations, so it is crucial to thoroughly review the requirements and instructions from the tax authorities to ensure a seamless application experience.
After establishing your legal entity and obtaining a Tax File Number (TFN), the next step is to open a dedicated bank account for your business to effectively separate personal and business finances, simplifying income and expense tracking Select a bank that provides essential business banking services, including online banking and merchant services Sole proprietors can use their Social Security number, while other business structures must acquire an Employer Identification Number (EIN), which serves as the tax identification number for your business and can be obtained through the IRS online or by mail Depending on your business structure, specific documents are required; for instance, Limited Liability Companies (LLCs) need to submit their Articles of Organization, while corporations must provide Articles of Incorporation, both of which confirm your business's legal status If your business involves multiple owners, it is crucial to have ownership agreements that outline each owner's percentage and responsibilities, safeguarding their rights and minimizing potential disputes Additionally, ensure compliance with state and local regulations by obtaining the necessary business licenses before commencing operations.
Bồ Thi Van Anh Page 6 needed depends on your business type and location Contact your local government office for specific licensing requirements
Now that administrative tasks are completed, focus on assembling your team by identifying the necessary roles and skills for your business Begin the recruitment process by considering various options, such as hiring employees, engaging freelancers, or outsourcing specific tasks, based on your budget and requirements.
To safeguard your business and assets, obtaining business insurance is essential Depending on your specific needs, this may encompass general liability, property, and professional liability insurance It is advisable to consult with an insurance agent to identify the coverage that best fits your business requirements.
Effective human resource management is essential for launching a successful business Start by developing an employee handbook that clearly outlines company policies and procedures Implement a competitive compensation structure alongside a robust performance management system It's advisable to seek legal counsel to ensure adherence to labor laws and regulations Additionally, maintain clear and accessible contact information, including a professional email, phone number, and an active website or social media presence, to facilitate communication with customers, suppliers, and stakeholders.
Bo Thi Van Anh Page 7
2.1.1 How to get & contact to customers
In today's fast-paced environment, effective communication is essential for nurturing relationships, enhancing collaboration, and reaching objectives With numerous communication methods available, selecting the right one can be challenging Key options for contacting customers include phone calls, face-to-face interactions, social media, email, and appointment-based communication.
Phone calls provide immediate and intimate human interaction, enabling real-time information exchange and clarification, making them ideal for complex discussions or emotionally charged situations However, they can disrupt the recipient's schedule and may not be suitable for lengthy or detailed conversations In-person communication offers the richest experience, utilizing non-verbal cues like facial expressions and body language to enhance understanding, making it perfect for building rapport and fostering collaboration Nevertheless, face-to-face interactions can be time-consuming and geographically restrictive, limiting their practicality for frequent or long-distance communication.
Bồ Thi Van Anh Page 8
Social media platforms provide a dynamic space for communication, enabling instant messaging, group discussions, and multimedia sharing, which can enhance brand awareness and audience engagement However, the informal nature of social media can lead to misinterpretations and distractions due to the absence of non-verbal cues In contrast, email is a reliable tool for long-form communication, allowing for detailed documentation and asynchronous responses, though it may feel impersonal and lacks the immediacy of other channels Furthermore, email overload can result in decreased attention and delayed replies.
Appointment-based communication, such as scheduled meetings or consultations, provides a structured approach that allows for focused discussions on important matters This method is particularly effective for complex topics that require thorough decision-making However, it can be time-consuming to arrange and may not be ideal for urgent issues or spontaneous conversations Ultimately, the effectiveness of any communication channel relies on the specific context, purpose, and individual preferences of those involved Recognizing the strengths and weaknesses of each method is essential for selecting the most suitable communication approach and ensuring successful outcomes.
Bồ Thi Van Anh Page 9
2.1.2 Some main industries & business profession
2.1.2.1 In the United Kingdom (UK) a Some main industries
The United Kingdom boasts a vibrant economy shaped by its diverse industries, with the aerospace sector standing out as a global leader in manufacturing Companies such as Rolls-Royce and BAE Systems play a pivotal role by producing aircraft engines, components, and defense systems This industry not only drives technological advancements but also significantly contributes to research and development, enhancing employment opportunities and bolstering the UK’s economic landscape.
The UK automotive industry is a crucial sector, celebrated for luxury brands such as Rolls-Royce, Bentley, and Aston Martin, and is recognized for its innovation, sustainability, and advanced engineering, driving job creation and economic growth Additionally, business and professional services, particularly in financial, legal, consulting, and advertising sectors, significantly bolster the economy, with London serving as a global financial hub that attracts international firms due to its expertise and favorable business climate Furthermore, the chemicals industry, encompassing pharmaceuticals, petrochemicals, and specialty chemicals, profoundly impacts the UK's manufacturing sector, with leading pharmaceutical companies advancing medical research and drug development while fostering innovation across various sectors.
Bồ Thi Van Anh Page 10
The construction sector, which builds residential, commercial, and public infrastructure, contributes to job creation, economic growth, and overall development
The UK economy is significantly driven by key sectors such as consumer goods, defense equipment, education, and electronics Renowned companies like Unilever, Diageo, and Tesco highlight the country's strong retail heritage, bolstering both domestic demand and international trade The defense equipment industry plays a crucial role in national security and fosters technological advancements Additionally, the education sector attracts global students, further enhancing its importance The electronics industry, featuring innovators like ARM Holdings and Dyson, is recognized for its cutting-edge technology Lastly, the UK's energy and utilities sector is essential for maintaining a diverse energy mix, ensuring a stable supply, promoting sustainability, and advancing renewable energy technologies alongside traditional sources.
Bo Thi Van Anh Page 11 b, Business profession
The UK’s service sector encompasses a diverse range of business professions, cluding
The UK's service sector encompasses various industries, including IT, food, tourism, farming, and beauty services, each playing a vital role in the economy In IT services, professionals like software developers and network administrators deliver essential technological solutions to businesses The food service industry relies on chefs and restaurant managers to ensure efficient operations in dining establishments Meanwhile, the tourism sector, supported by tour guides and hotel managers, significantly boosts the economy by facilitating travel experiences for visitors Agricultural professionals, including farmers and veterinarians, are dedicated to producing high-quality crops and livestock in the farming sector Additionally, the beauty service industry thrives with hairstylists and makeup artists enhancing personal appearance and well-being Collectively, these professions cater to the diverse needs of the UK’s population and contribute to economic growth.
2.1.2.2 In the United States (US) a Some main industries
CONCLUSION AND RECOMMENDATIONS
2.1 How to set up a business
Starting a business can be both exciting and rewarding, but it requires careful planning and execution Establishing a legal entity is the first crucial step, which involves registering your company with the appropriate government agency, like the Secretary of State’s office This process provides your business with a legal structure and protects your personal assets In the U.S., you can choose from various legal entities, including sole proprietorships, partnerships, limited liability companies (LLCs), and corporations, each with its own advantages and disadvantages It’s important to select the entity that best aligns with your business goals After establishing a legal entity, obtaining the necessary licenses and permits is essential to ensure compliance with local, state, and federal regulations, helping you avoid potential legal issues in the future.
To utilize government services and fulfill your tax obligations, you must apply for a Tax File Number (TFN), a unique identifier provided by tax authorities Applications can be submitted online or in person at the tax office.
To apply for a Tax File Number (TFN), you have three options: submit the necessary documents and Form W-7 by mail to the address specified in the Form W-7 Instructions, process your application through an IRS-approved Acceptance Agent, or present your documents at IRS walk-in locations It's crucial to understand that the TFN application process may differ based on your country's tax regulations Therefore, thoroughly reviewing the requirements and guidelines set by the tax authorities is essential for a seamless application experience.
After establishing your legal entity and obtaining a Tax File Number (TFN), the next step is to open a business bank account to effectively separate personal and business finances, simplifying income and expense tracking Select a bank that provides essential business banking services, including online banking and merchant services Sole proprietors can use their Social Security number, while other business structures must acquire an Employer Identification Number (EIN), which serves as the business's tax ID You can apply for an EIN through the IRS website, either online or by mail Depending on your business structure, specific documents are required; for instance, Limited Liability Companies (LLCs) must submit Articles of Organization, while corporations need to provide Articles of Incorporation as proof of legal existence If your business has multiple owners, it's crucial to establish ownership agreements that outline individual ownership percentages and responsibilities to safeguard each owner's rights and minimize potential disputes Additionally, be aware that many states and localities require businesses to obtain the necessary licenses before commencing operations.
Bồ Thi Van Anh Page 6 needed depends on your business type and location Contact your local government office for specific licensing requirements
After completing the administrative tasks, focus on assembling your team by identifying the necessary roles and skills for your business Begin the recruitment process by evaluating whether to hire employees, engage freelancers, or outsource specific tasks based on your budget and requirements.
When launching your business, safeguarding your assets with appropriate business insurance is crucial This may involve obtaining general liability, property, and professional liability insurance based on your specific business type It's advisable to consult an insurance agent to identify the coverage that best meets your requirements.
Effective human resource management is vital for launching a successful business Start by developing an employee handbook that details company policies and procedures Establish a competitive compensation framework and implement a performance management system to motivate employees It’s also advisable to seek legal counsel to ensure adherence to labor laws and regulations Additionally, maintain clear and accessible contact information, including a professional email, phone number, and a robust online presence through a website or social media These channels are essential for communication with customers, suppliers, and other stakeholders.
Bo Thi Van Anh Page 7
2.1.1 How to get & contact to customers
In today's fast-paced environment, effective communication is essential for nurturing relationships, enhancing collaboration, and achieving objectives With numerous communication methods available, selecting the right one can be challenging Key options for reaching customers include phone calls, face-to-face interactions, social media, email, and appointment-based communication.
Phone calls provide immediate and intimate human interaction, enabling real-time information exchange and clarification, which is especially beneficial for complex discussions or emotionally charged situations However, they can disrupt the recipient's schedule and may not be ideal for lengthy or detailed conversations In-person interactions, on the other hand, offer the richest communication experience by incorporating non-verbal cues like facial expressions and body language, which enhance understanding and rapport-building, making them ideal for negotiations and collaboration Despite their advantages, face-to-face meetings can be time-consuming and limited by geography, rendering them less practical for frequent or long-distance communication.
Bồ Thi Van Anh Page 8
Social media platforms provide a dynamic environment for communication, enabling instant messaging, group discussions, and multimedia sharing, which can enhance brand awareness and audience engagement However, the informal nature of social media may lead to misinterpretations and distractions due to the absence of non-verbal cues In contrast, email is a reliable tool for long-form communication, allowing for detailed documentation and asynchronous exchanges, but it can feel impersonal and lacks the immediacy of other channels Furthermore, email overload can result in decreased attention and delayed responses.
Appointment-based communication, such as scheduled meetings or consultations, provides a focused and structured method for discussing important matters and reaching resolutions This approach is particularly beneficial for complex topics that require in-depth discussion and decision-making However, it can be time-consuming to schedule appointments and may not be ideal for urgent issues or spontaneous conversations Ultimately, the effectiveness of any communication channel depends on the specific context, purpose, and preferences of the participants Understanding the strengths and weaknesses of each method is essential for selecting the most appropriate communication strategy and achieving successful outcomes.
Bồ Thi Van Anh Page 9
2.1.2 Some main industries & business profession
2.1.2.1 In the United Kingdom (UK) a Some main industries
The United Kingdom boasts a diverse economy shaped by various industries, with the aerospace sector standing out as a global leader in manufacturing Major companies such as Rolls-Royce and BAE Systems are pivotal, producing aircraft engines, components, and defense systems This industry not only fosters technological advancements but also plays a crucial role in research and development, significantly contributing to the overall economy and providing numerous employment opportunities.
The UK automotive industry is a crucial sector, distinguished by luxury brands such as Rolls-Royce, Bentley, and Aston Martin, and is recognized for its innovation, sustainability, and advanced engineering This industry not only drives job creation and economic growth but is also complemented by the significant contributions of business and professional services, including financial, legal, consulting, and advertising sectors London stands out as a global financial hub, attracting international companies with its expertise and favorable business climate Additionally, the chemicals industry, encompassing pharmaceuticals, petrochemicals, and specialty chemicals, plays a pivotal role in the UK's manufacturing landscape, fostering medical advancements and supporting research and innovation across various sectors.
Bồ Thi Van Anh Page 10
The construction sector, which builds residential, commercial, and public infrastructure, contributes to job creation, economic growth, and overall development
The UK's economy is significantly driven by consumer goods, defense equipment, education, and electronics, supported by a strong retail heritage featuring global brands like Unilever, Diageo, and Tesco The defense industry not only bolsters national security but also fosters technological advancements Education remains a crucial sector, attracting international students, while the electronics industry, represented by companies such as ARM Holdings and Dyson, is renowned for its innovation and advanced technology Additionally, the energy and utilities sector plays a critical role in maintaining a diverse energy mix, ensuring a stable supply, promoting sustainability, and advancing renewable energy alongside traditional sources.
Bo Thi Van Anh Page 11 b, Business profession
The UK’s service sector encompasses a diverse range of business professions, cluding
The UK's service sector encompasses a variety of industries, including IT services, food services, tourism, farming, and beauty services In the IT sector, software developers, network administrators, and IT consultants deliver essential technological solutions to businesses The food service industry thrives with chefs, restaurant managers, and catering professionals ensuring efficient operations in restaurants and catering companies Tourism significantly boosts the UK economy, with tour guides, travel agents, and hotel managers facilitating travel experiences for both domestic and international visitors In farming, agricultural professionals, including farmers and veterinarians, work diligently to produce high-quality crops and livestock Lastly, the beauty service industry flourishes with hairstylists, makeup artists, and beauty therapists enhancing personal appearance and well-being Collectively, these professions play a vital role in the economic growth of the UK while meeting the diverse needs of its population and visitors.
2.1.2.2 In the United States (US) a Some main industries