Core businesses of Pine Furniture Public Limited (Pine Furniture PLC) are designing,manufacturing and delivering furniture to customer’s door at unbeatable prices. With its 20-year experience, Pine Furniture PLC would like to expand the business in Vietnamese market. Inorder to do that, the company will need to raise 15 million pounds by considering severalfinancial options. It has to find a suitable source of finance so that Pine Furniture PLC could runa success business in Vietnamese market. Besides, a cash budget must be carefully analyzed withthe aim of preventing risks for later process of the company. In addition, to any company or organization, a careless plan will lead to series of financial risk to the company. That will expresshow important the processes of making a financial plan for even a small company.
B, Contents.I, Task 1: Opening your own business – Hospitality and Tourism.
Nowadays, opening own business is a recent trend among students in general and BTEC programs members in particular. To start their business, students have so many choices in themidst of variety kinds of business such as Food and beverage, Financial and accounting services,Trading, Production… To start a business is not easy for anyone, especially for a student, therewill be so many jobs to do including selecting source of finance, preparing capital, makingmarketing planning and lots of things else.In a bunch of kinds of business segments, it is very difficult for me to choose a suitableone. Meanwhile, I have to consider several factors to determine the feasibility of my concept business. The first factor is how the recent 2010 economic situation in Vietnam will affect thedevelopment my project. It is not natural that I choose Hospitality and Tourism sector for myfuture business. If a person wants to start his own business, no matter what kind of business is,the first thing that he has to do is researching and planning the business. This is a key point to besuccessful for any business owner because a well-written business plan is essential to startingand running a business. Business plans are required when applying for business loans or seekinginvestors. A good business plan describes in detail a business' mission and goals, and how thesegoals will be achieved. And the first thing to be mentioned in a business plan is confirming the possibility of the business itself by researching the marketing and current economic situation of the target market that owner want to start his career in. Towards me, I choose Hospitality andTourism sectors in Vietnam for many reasons such as Vietnam’s resources, Vietnam’s economicsituation in 2010, personal characteristics, chance of success… and many things else. The firstfactor is the economic situation of Vietnam in year 2010, this issue is playing a very important part in deciding the likelihood to be able to develop of a initial business. From year 2007 to2010, the world has suffered from the most serious crisis of finance. This crisis has beenresulting in the collapse of large financial institutions, the bailout of banks by nationalgovernments, and downturns in stock markets around the world. Almost every country wasaffected, including Vietnam, this country, from year 2007 to 2009, has gone through so many to2 |Page