Detailed explanation of how other businesses support the retail sector P2 Essay
Detailed explanation of how other businesses support the retail sector P2
There are many different businesses that help in the retail sector to keep the business going and running efficiently and without these businesses it would be extremely hard if not impossible to get a business off the ground or even keep one running. Opening a sports shop in Manchester
To begin with we need a place for all the money to go so that we can keep track of incoming and outgoing money so we need a business account with a bank.
A bank is a business that provides a place for you to hold your money securely and also providing a way to track and manage your money and accounts making it easier for you to manage your taxes sales and expenditures and having an account you need someone to manage these for you so you would need an accountant there are businesses that can provide you with an accountant or accountants that will work for you they manage your accounts balancing your sales, expenditures and your taxes giving you more time to work on other areas of the business.
A lot of business is now done on computers or if it’s a shop on tills so this requires a place for you to get your computers, tills or other hardware needed to run the store being a sports shop we will be using tills for the sales of products, computers for managing accounts and emailing, printers for making bank notes, receipts and bills and telephones for making calls to make sales and orders so we will need a phone company to provide us with a phone line and an account with them for phone usage, an internet provider to give us an internet connection so that we can send e-mails, check accounts online, make a website to advertise and even sell our goods on which will require a web designer who will make the website and manage it for us.
We also need electronics stores that could sell us the computers, telephones and printers.
Tills are a specialist item to buy so you will need to find a company that will provide and perform the necessary upkeep on them and we also need I.T specialists who can provide us with the software and management of the software for the tills and computers. We also need to find a supplier to provide us with the sportswear and sporting goods for us to sell a supplier is a company that usually make the goods themselves or buy it from the manufacturers and sell everything in bulk for a cheap price and then you sell the goods on for a profit, so they are two more businesses that can help us manufacturers and suppliers without these businesses we would struggle to get the goods we need to sell.
Then we need logistics companies to transport these goods to us and even from us to the customers, we might also need a place to store our goods so we will need warehousing and possibly security services to make it safe to store the goods so you might look into security companies/businesses that will manage the shops and warehouses.
We also have accidents at work in stores and possible needs for legal action so we could do with lawyers/solicitors so finding a law firm that can help is also a good thing to be aware of. When you have problems with the buildings that you are using for your business activities you will need trades people to fix any issues you may be having i.e. Say your plumbing is leaking or toilet facilities or malfunctioning you will need to find a plumber to come and fix the problems you are having, if you need lighting or sockets or general electrical work doing you will need an electrician, if you are building a new building you will need architects, brick layers, window fitters, roofers, carpenters, electricians, plumbers, landscapers and possibly more to make your new building.
If you want to expand your business and help it grow but you haven’t got the money for it straight away you might consider looking for investors who will give you the money upfront for your business venture for a percentage of the company profits. We also have accidents and tragedies that happen and could cause problems or losses within a company and for these times you can also get insurance from an insurance company who will help you and even pay for any issues that need to be fixed and solved.
So to sum it all up there are many businesses that we need to make a business and to keep a business running and without these different businesses there would be no retail and no business.