Business Planning Flashcards
What the importance of business planning?
In short, business planning for RICS professionals ensures they are well-prepared to navigate challenges, leverage opportunities, and build a sustainable and competitive business in the property, construction, and land sectors.
How will the renters right bill affect your business?
It is affect the eviction process and procedures.
How i prepare agreements as there will no longer be fixed contracts.
How I ensure rent increases in line with the market and give rent increase notice the tenant.
Continuous training and development for myself and my team.
Impact on my fees
What are the key elements of business planning?
business planning is a detailed process that covers all the essential aspects of a business’s strategy, operations, and finances. By thoughtfully addressing these key elements, businesses can create a clear roadmap for growth, attract investment, and reduce uncertainty.
What is the relationship between assets and liabilities?
Equity
The balance between assets and liabilities is crucial for assessing a company’s financial stability. Equity, also known as net worth, is the difference between a company’s total assets and total liabilities:
Assets
−
Liabilities
Equity=Assets−Liabilities
Positive Equity: If assets exceed liabilities, the business has more resources than debts, which is a healthy financial position.
Negative Equity: If liabilities exceed assets, the business has more debt than value, which may indicate financial distress or insolvency.
How did the mini-budget affect the property industry.
The mini-budget led to significant market instability and a loss of confidence in the government’s fiscal approach. The reaction from financial markets was swift, with a sharp rise in government bond yields, which increased borrowing costs for businesses and individuals.
This created an environment of uncertainty, and property businesses faced challenges as the housing market became more volatile. Investors were less likely to commit to large property deals, fearing potential future instability in the UK economy.
