TaskRespond to the following characteristics and issues involved in starting and running a small business:

Outline the key proposals contained in the budget for 2015-16 and 2016-17 that may impact on small business owners in Australia. Identify any limitations of these proposals for a small start-up business in regional Australia.

List and define the key characteristics and issues involved in starting and running a small business in Australia. Identify and define the nature of a new or franchise enterprise in Australia that you might wish to establish as your own small business.

Identify and compare ALL start-up modes. Indicate which start-up mode (new or franchise) you have chosen for your business and explain why.

Compare and contrast ALL ownership structures. Indicate which ownership structure you have chosen for your business and explain why. What are the personal risks, if any, associated with this structure?
Rationale
This assignment provides the foundation for the next assignment (assessment item 2) and the business plan you will undertake for assessment item 3. It has been designed to develop your ability interpret and evaluate the concepts covered in Topics 1 and 2. More specifically it seeks to assess your ability to list and define the key characteristics and issues involved in starting and running a small business.