Estimate of Applicable Insurance Requirements for your Business - Business Assignment Help

Assignment Task :

1 Regulatory issues
Discuss any local, state or commonwealth government regulatory requirements that will be required by your business (e.g. Council approval, health and safety permit, etc)
If applicable, indicate any patents or other proprietary features of the product or service
Is the business required to register for Goods and Services Tax (GST)?

2 Insurance
Provide an estimate of applicable insurance requirements for your business. Quotations from an insurance company can be included as an appendix.
NB: Workers’ compensation insurance is compulsory if you employ staff.
NB: A householder’s insurance policy will not cover business assets, unless specifically indicated as an addition to the policy

3 Business premises
Provide lease/rental details - landlord/agent, setup costs, bond, and rent outgoings
Preferred location of the business (consider several in case the first option is not available
Provide a sketch indicating the layout of the premises (include maps where relevant)
Provide a description of the facilities required to operate the business, i.e. three phase power, etc
Also include the expected running and maintenance costs

4 Distribution (place) arrangements
How will the product/service be distributed?
Describe the facilities required to sell and distribute your product/service (e.g. will you sell it yourself or will you use agents or distributors)
If relevant, discuss any margin to be given to sales representatives, retailers, distributors or wholesalers and identify any royalties or commissions you will have to pay
 

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