“Produce a business proposal of a new business in the UK within Financial Services Industry”.

September 5, 2023September 5, 2023 Discipline: Accounting
IMPORTANT: Please carefully read Assignment One M6 & Module Handbook M6, and follow all guidelines.

“Produce a business proposal of a new business in the UK within Financial Services Industry”.
Prepare a foundation year project in the form of a written report of 3,000 words. It aims to
present a business idea within Financial Services & Accounting Industry using previous
knowledge and business research skills.
This task will require you: 
1. Research jobs, professions, and businesses within the scope of Financial & Accounting
Sector of the national economy. 
2. Research and identify market trends and in the Financial & Accounting Services Industry. 
3. Based on your findings, propose and describe an idea for a new business within the
Financial & Accounting sector. 
4. Identify what Financial or Accounting services you would like to offer on the local market,
who can be your clients, their demographics, needs, wants, and demands. Propose the
location for your office. 
5. Identify your future competitors and stakeholders (people that have interest in your
business, for example: government, employees, family, publics, etc.) and how they can
affect your business. Propose a management structure for your business. 
6. Define your short and long-term strategy. 
7. Prepare a SWOT analysis for your future business and explain why you think your business
will be successful. 
8. Estimate your future revenues and expenses/or initial investment requirements. 
9. Research digital applications/software needed to run a business (for example, to accept
payment or to manage accounts).

Important: you must only include academic citations from the core and recommended
books and sources outlined below.

For academic research, include both direct and indirect citations only from the
recommended materials outlined above. For marketing research, include references from an array of websites: competitor companies, UKFinance.org, ONS and National Careers
Services, suppliers, and other relevant sources.
Core texts:  
1. Madura, J. (2007) Introduction to Business. 4th edn. Thomson Higher Education. Available in Additional Resources in Moodle. (attached below)
2. Dimitriu, O., Matei, M (2015) Cloud Accounting: A New Business Model in a Challenging
Context 
3. Orgonas, J. (2020) Microeconomic aspects of Franchising 
4. He, D. (2017) Fintech and Financial Services : Initial Considerations. [Washington, D.C.]:
INTERNATIONAL MONETARY FUND (IMF Staff Discussion Note). 
5. Saunders, M., Lewis, P., Thornhill, A. (2012) Research methods for business students. 6th
ed. Essex: Financial Times, Prentice Hall. 
6. Tracy, B. (2014) Marketing. New York: AMACOM (Brian Tracy Success Library). 
7. United Kingdom Banking & Financial Services Report (2023) United Kingdom Banking &
Financial Services Report, (2), pp. 1–70.
8. The Financial Reporting Council Report (2022): Key Facts and Trends in the Accountancy
Profession: Financial Reporting Council. 
9. Pavlova, Mariya M.; St. Petrova, Rayna (2023): The emerging changes in
the accounting profession and the accounting practice under the influence of technology. 
10. Yeong, Wongfong, M. (2020) Financial technology and business model innovation : a study of
UK banking.
Websites: 
• National Careers Service 
• Ukfinance.org.uk 
• Bloomberg Businessweek 
• The Financial Times 
• Trading economics 
• ONS (Office for National Statistics) 
• World bank data 
• Competitor and supplier companies’ websites 
• Statista (open access) 
• Google maps and reviews 
• Harvard business review (journal) 
• FRC Key Facts and Trends in the Accountancy Profession_August 2022

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