A guide to third sector trading - WCVA

It’s an idea, but is it business? A guide to third sector trading
1: Getting
started
2: First steps 3: Business
planning
4: Legal and
governance
5: Funding
and
resourcing
6: Financial
controls
7: Managing
growth
8: Management
and
governance
9: Social
enterprise
10: Sources
of support
Table 1.2: Establishing different types of trading organisation step by step
Action
Guide
section
New and small-scale
trading organisations
Community
organisations generally
Existing and
prospective charities
Get started
bring people together 2.3/2.4 form a broad-based group attract wider support involve partners
decide your basic aims 2.5 essential essential essential
explore business idea/s 2.7
draw up a list of
possibilities
draw up a list of
possibilities
consider several options
form a partnership 2.4 advisable if appropriate if appropriate
get help and advice essential if necessary if necessary
consider charity status is it an advantage? is it an advantage? will trading affect status?
Investigate business ideas
do back-of-an envelope costings 2.7 3 3 3
identify markets, competition 3.2 3 3 3
feasibility study 3.2 3 3 3
Decide on constitutional structure
get a basic constitution 2.4 3 - -
decide the trading structure 4.2 3
do you need a subsidiary
trading company?
develop ideas for ‘community
ownership’
2.5 if necessary 3 possibly
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