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Essay / Research Paper Abstract
This 9 page paper is an original business plan for starting up a business, looking at company mission, strategy, planning including financial planning, required resources and key issues. The business chosen is that of an independent financial adviser company. The paper includes an examination of the past present and future market for this sector in the UK. The bibliography cites 1 source.
Page Count:
9 pages (~225 words per page)
File: TS14_TEbusplan.rtf
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Unformatted sample text from the term paper:
of the potential proprietor to access and then satisfy that market. In this paper we will produce a business plan for starting up a new business. The chosen business is
to set up a financial services agency, offering independent financial advice on a range of products including mortgages and re-mortgages, insurance, assurance and saving products. The company will be
called Abacas Financial Advice. The mission statement will to provide top quality advice to all clients, allowing clients to make informed decisions based on expert, honest advice tailored to individual
client needs. There are many problems and opportunities entering this market. There are some barriers that will need to be overcome, such as the registration requirements with the Financial
Services Authority and the need to meet compliance standards (FSA). The statutory declarations may be seen as problematic, as advisers have to declare how the are paid, such as commission
from the company whos products they sell. However, this can also be used as an advantage by offering clients a choice between the taking of commission, or the refunding of
this to the investment and a fee based service. Other barriers are similar to other businesses, such as the gaining of
customers and setting up of suppliers, finding and maintaining premises and the recruitment and training of staff. However, there are many opportunities, this is an area of business that can
benefit in different economic circumstances. As interest rates increase more clients may want to cut costs with re-mortgaging or adjusting investment to make the most of the increases, or cutting
the cist of the life insurance they already have, when rates are down the same may occur with the desire to look at ways of maximising their assets, either income
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