3.10 - Business Support Services

Question 1

Business Support Services

Answer 1

A business has identfied a gap in the market, it has completed a feasibility study, determined its business structure and model of operations. The business owner needs to now seek suppport so that it can increase the chance of its business being successful.

Question 2

Accountant

Answer 2

They will help it meet its obligations to the taxation department like the goods and services tax and its income tax requirements. An accountant is also good to help the business set up its internal systems to record all of its financial transactions and can help the business to analyse its financial performance to look at ways that it can improve.

Question 3

Lawyer

Answer 3

This person will help the business to create its legal structure and guide the business through the government regulations that it must meet. A lawyer will also help the business to check its contracts to make sure that the business is meeting these obligations.

Question 4

HR Manager

Answer 4

This person will make sure that the business advertises selects and employs correctly. It is also important that the business pays its staff correctly and provides them with a safe environment. If these requirements are not met then the firm will be fined.

Question 5

IT Person

Answer 5

It is important that the business has a website that the customers can navigate easily with a well set out way to pay for their purchases otherwise the business will lose sales. The information technology person will also help the firm to provide security to its systems to stop them from being hacked.

Question 6

Community Based Support

Answer 6

Business service clubs like Rotary, Lions and Apex exist where business owners can come together with the purpose to provide socially responsible support to the community. Within these clubs, business owners gain the opportunity to meet other business owners and can seek support and mentoring.
- Business Enterprise Centers Australia
A not for profit organisation that can help to link a business to other areas like governments and mentors.
- Small Business Center Victoria:
Provides more specific support for small businesses to become profitable.

Question 7

Formal Support

Answer 7

Formal Business Support is when it is given a structured form.

• Private*: Trade associations and the Victorian Chamber of Commerce are a source that a new business can consult to gain information on what they need to do to meet all required obligations. These organisations will also communicate to their members any changes in work practices they will be expected to follow.
• Public:* This is when Federal, State and Local governments will provide assistance to a business to help them operate. The reason that these three levels of government will support businesses is that they provide employment, and services to the local community (Local Government) and pay taxes to help government provide services.