Wednesday 18 February 2015

OUGD502 Studio Brief 2 - Taking Care of Business - Pinnacle

Small Business Loans

As A Student, I am not familiar with loans in terms of starting a business. Research into this subject would help me and my group understand what we would need in terms of a loan and how we would go about getting this loan. We would need to look at what kinds of loans there are and what they offer and look into our company and what we need in terms of finances. Asking Tutors as well as other professionals could expand on what we could look at as secondary information from the internet.


Finances

The group members that were responsible for making sure we had worked out and presented finances put together our group work of research on what we would need to fund for for our company from starting up to running the business

Start Up Costs:
Accountant
£1,400.00
General Stationary
£50.00
Guillotine/Circle Cutter/ Lightbox
£350.00
Pinnacle Branding
£300.00
A3 Printer/Scanner
£150.00
Phone (Handsets x 4)
£110.00
Phone Installation
£110.00
Furniture
£500.00
Insurance
£462.00
First months rent (deposit)
£360.00


Total
£3292.00

Monthly Costs:
Adobe CC (License x 5)
£190.55
Ink
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£50.00
Phone line
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£19.00
Travel
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£130.00
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Food/Drink
£50.00
Rent
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£360.00

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T otal
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£799.55
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Annual Cost = £12,883.96
£12,883.96/5 = £2576.60
£2576.60/265 = £9.72
£9.72 + 20% (extras/service charge) = £11.65 an hour £11.65 x 42.5 = £495.12 per week

£495.12 x 48 = £23,794.56 annual pay £23,796.56 – 20% (tax = £4758)
= £19,036 Annual pay after tax

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