Develop a business idea for a start-up business in London and develop a brief business plan.Illustrate how to generate profit and the cycle of business for your idea.

The United Kingdom is currently experiencing some political and economic uncertainty that hinder entrepreneurial investment especially from small and medium sized businesses (SME’s). The Institute of Fiscal studies in the UK, reported that the number of new businesses created in the UK between 2007–08 and 2015–16 was higher than in any other OECD country.

New start-ups in the UK, show an important labour market trend and is often hailed as a success because small businesses and start-ups are commonly viewedas the engines of growth.

You are required to develop a business idea for a start-up business in London and develop a brief business plan.

In this business report you are expected to be creative, original, realistic and apply theoretical knowledge of entrepreneurship and evaluate different approaches.

This business report will take the form of a formal plan with the suggested structure:

Executive Summary –a short summary of the business plan.

Start-Up Business Idea(Product / Service)–explain the details of the product or service you will provide.

Industry Profile–current industry demand and statistics on your market.

The Business Modelillustrate how to generate profit and the cycle of business for your idea.

Point of differentiationhow is your company different from other companies with similar products?

Challengesto the Business Idea:discuss a few anticipated challenges in your venture.Prospective Customersdiscuss the ideal and prospective customer for your product / service.

Brief Marketing Plandiscuss the positioning in the London market and the 4Ps.

Competitor Analysis highlight three current competitors already present in your market.

Sources of Fundingdiscuss 2 sources of funding to support your idea.

Intellectual Propertydiscuss your approach in protecting your business idea.

Appendixany diagrams and additional information

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