Part A

Letter to client
May 26, 2019

Mr. John

I for one is amazingly happy to avail this opportunity for counseling with suitable data regarding
for your new business plan. I will endeavor my best to supervise you with each and every
comprehensible idea.
Responsibility
It involves incredible delight for me to know about your business idea. Your idea is to setup a
company in area of fashion particularly a business of men wear. It becomes essential to get
guidance from a specialist especially when you’re a new a business world. Skilled money
related auditors assume an important job when guiding some to setup a new company. my duty
is to manage you regarding chief business principles, that will be helpful in long run of your firm.
Facts
As per the data received from your end, your idea to open business for men wear is great.
Based on my personal experience my suggestions would be of great benefit to you. On the off
chance that you feel any uncertainty, problem or disparity you can quickly get in touch with me.

Recommendations and suggestions

Business elements rely on for the most part three essential elements: risk, tax paying and
record keeping. As a matter of first importance I want to conduct a market survey regarding your
business idea. The progress of business depends upon the business format you choose such
as sole owner or proprietorship, partnerships, corporations etc. Sole ownership has its own
advantages as person with less financial resources can begin new business. The firm is owned
by a single being and has all the control to every right and duty regarding the business (the
accountancy partnership, 2012). It is otherwise called sole merchants, singular enterprise or
owner. There are very less lawful contrasts among proprietor and business element. All
legitimate risk falls completely upon proprietor. Profits, damages, misfortunes depend upon the
efforts of the individual. This is least difficult professional structure, as one can work according
to resources available to him. This basically states an individual who claims firm or company,
does not share anything with others and performs the entire responsible single handedly (setup
as sole trader, gov.uk). Sole owners must get different professional authorizations to work
legitimately. The authorizations set up ownership real professional.
Single ownership organizations commonly need negligible documentation and remain simpler to
keep up with associations, partnerships. Entrepreneurs are in charge of obligations and
responsibilities, and the simple techniques are used to maintain the accounts.
Single ownership enjoys the advantages of tax returns.
Single ownerships are simple to start as a person with less experience can attain grant
successful by starting as a single owner. An individual creates his own planning for the success
of the organization or firm.
Another vital advantage of single ownership is, the owner retains up 100% control and duty
regarding firm. A sole possession can have only a solitary owner and that owner is equipped for
the advantages and control of the company.
Single ownerships have benefits while paying taxes. They are charged taxes based on the total
income earned by the company in a calendar year. Later on they can claim back the taxes paid
through a proper documentation system (Lason, Aaron, 2016). Profits cannot be charged
separately and whole income is taken into consideration while calculating the tax to be paid.
Additionally have tax benefits over different business elements. Under Virginia annual tax law,
sole ownerships don't require separate tax filings (Lason, Aaron, 2016). Rather, a proprietor
reports the total compensation or overall income from the business on his own annual tax
document. Notwithstanding effortlessness, this additionally keeps away from the proprietor from
bringing about double tax collection on business income, as in a partnership. Double tax
assessment, which different business elements, for example, company might be liable to,
implies that the business' salary is burdened once when the business makes the benefit and
again when that benefit is paid to the proprietors. In a sole ownership, the proprietor just pays
tax once, on the grounds that business benefits are documented distinctly on his own annual tax
document.
Single owners likewise ensure legal responsibility and disadvantages compared to owners as in
case of partnerships or corporations.
The ultimate burden on a single ownership is the risk of failure of company. in case of failure of
company, the personal assets of the owner are at stack. As owner is held responsible for the
failure, he is liable to pay own his own to any type of loan, money from the investors etc.
Another disadvantage a single owner might face is lack of financial resources. For the
promotion, expansion of the firm, an individual requires funds. All the financial responsibility
comes on the shoulders on the single individual involved in the business. An organization
cannot progress without the help from its owner.
A single owner can lack human resources. The pressure of the company is completely on his
shoulders, he has to ensure every responsibility of the company is completed within certain
span of time.
The fashion world has touched the every corner in the globe and is blasting division, being
developed at every phase of life. This industry targets wide range of customers. Each person
prefers style according to his suiting and according to his pocket. Style preferences of a person
communicate the taste of that person. With regards to men's dress, there is loads of
extraordinary design which makes them look tasteful up-to-date and astounding.
Then again on the off chance that we talk of fashion industry, the basic worry about the
structure, generation, dissemination of fabric plus apparel. Fashion business is gainful for fresh
and trying business visionaries. Fashion business is blasting more than ever. Clothes protect
customers against rain, wind, snow etc. (West, 2019). There are numerous open doors
accessible in this field. This is the opportunity to increment your incomes. This incorporates
attire as well as all texture material utilized in our everyday life, for instance bedding, outfitting,
insides, home stylistic layouts, spread pieces of vehicles and so forth. New dresses and
textures for everyday life both in family have become important part like food and shelter.
Conclusion
Take wise, planned decisions for the expansion of your firm. The slow and progressive success
can be another name that defines a business. Be clear about your decisions, as your decisions
guide the path of your company.
I feel suggestions given by myself will be an extraordinary assistance to you. You will get
adequate of learning, thoughts, data identified with the business technique. Your business idea
has impressed me a lot as you can achieve any heights of success in this industry. Keep up a
sound association with vendors, clients and everyone linked with you. You can begin your
business keeping the price of every product as minimum as possible, giving occasional
discounts like on New Year’s, Christmas and Easters. Be delicate and kind to your customers.
Put in little request to the dealer, in request to draw in clients utilize interesting selling aptitude.
Utilize splendid shading, multicolor structures as they are in design. Take outrageous
consideration of your venture and furthermost keep mind monetary status. I trust these
recommendations will assist you with starting a success company. I wish you luck for your
business.

You are free to contact me anytime you are confused and need any advice.

You’re faithful
ABC
Accountant
  The accountancy partnership (March 2012), Can a sole trader have employees?
 Larson, Aaron (7 July 2016). “The sole proprietorship”. ExpertLaw.
 “Set up as a sole trader”.gov.uk.crown.
 West, T. (2019). What doea a fashion market director do? www.work.chron.com

Consider the issues surrounding communication, corporate culture and employee

performance. In what way might the journalistic culture of a company like The
Bloomberg Corporation improve the communication skills of the media professionals
whom it employs? Could cultural differences between countries affect the degree to
which individuals comply with the company's corporate culture?