Land Use And Diversification Flashcards
What should you consider when planning a diversification?
Planning requirements
Buildings requirements
License requirements
Insurance requirements
Business viability
What health and safety requirements exist for holiday cottages?
Child proofing
Eliminating slip hazards
Installing hand railings
Providing emergency contacts
Fire risk assessments
Legionella risk assessment
Pat testing
Smoke alarms
EICR
Insurance
What is the purpose of a business plan?
To identify, describe and analyse a business or opportunity by examining its technical, economic and financial feasibility
What is included in a business plan?
Executive summary
Vision and idea
Marketing and sales strategy
Team members
Operations
Financial forecasts
What is a budget?
A budget is used for a full year or specified period to show the relevant income and expenditure for the period. It is used to plan ahead
What is a cash flow forecast?
A cash flow forecast shows the anticipated cash in and out and usually splits transactions into monthly columns. It is used to ensure cash is tightly managed and bank accounts aren’t overdrawn
What is the definition of a holiday let?
Where a furnished dwelling is let for 140 days or more in the financial year. It becomes liable for non-domestic rates rather than council tax.
What is SRDP?
The Scottish Rural Development programme began in 2014 under Pillar 2. It offers funding for food processing, woodland planting and improved broadband.
What are the types of short term let licenses?
Home sharing - means using all or part of your own home for short-term
lets while you are there.
Home letting - means using all or part of your own home for short-term
lets while you are absent.
Secondary letting - means a short-term let involving the letting of property
where you do not normally live.
Home letting and home sharing - means you operate short-term lets from
your own home. this is both while you are living there, but also for when
you are absent.
