Options for Setting up a Design Business
by jungkook37

Throughout the course of this paper, I will examine and assess the various possibilities that are open to me in selecting to set up a design company with a colleague, as well as the related actions that are done in order to create one. To begin, I will determine the kinds of companies that would be the best fits for my enterprise, as well as the kinds of companies that would not be ideal, and I will explain why those firms would not work. This will lead me to investigate the required procedures involved in working with a customer, developing a design brief, and the various types of design management systems that are connected to it. By carrying out these steps, I will be able to form an opinion regarding the kind of enterprise that would be most suitable for me. When starting a design business with a coworker, the type of company that is most likely to be successful and that would be the most appropriate for at least a two-person company is either a partnership or a designated activity company. Both of these business structures have their advantages and disadvantages. Both organisations are private limited businesses, which means that the company's stakeholders are the legal owners of the shares. A business organisation that is founded, owned, and operated by two or more individuals is known as a partnership [1]. It is possible that it could have a total of fifty members[2]. To form a partnership, individuals must first get together to pool their resources, which may include their money or their talents. An illustration of this would be the collaboration of an interior designer and a furniture designer to form a company that would allow them to work more closely together, increase their chances of turning a profit, and divide the responsibilities of running the company among themselves in accordance with their respective areas of expertise. They would share ownership of the business as well as the obligations associated with managing it. In the case that any of the members have differences of opinion with one another, a partnership agreement should be drafted by a legal professional [3]. A contract of this type would be to everyone's advantage and would typically outline the responsibilities of each member, as well as their compensation and what would take place in the event that the firm went out of business. Because of the potential for legal action against a partner who violates any of the conditions of the agreement, it is critical that an agreement be drafted in order to safeguard the legal rights of all parties involved in the firm. One of the most significant benefits of forming a partnership as opposed to operating as a sole proprietorship is the fact that the more people who participate in the partnership, the more money or capital is contributed into the business. This enables the company to have more money to work with right from the beginning and contributes to the company's rapid expansion. Being a sole proprietorship has no such benefit. The fact that a partnership is subject to infinite responsibility, on the other hand, is one of the major drawbacks associated with this business structure [4]. This indicates that in the event that things do not go as planned and the company declares bankruptcy, each partner will be jointly accountable for paying off any obligations incurred by the company. In the event that the partners are unable to repay the obligations due by the firm, this may even imply that they may be required to sell their personal assets. When forming a partnership, you are taking on a significant amount of risk as a result.

The specified activity firm is the second possibility for a business that specialises in design [5]. A designated activity corporation is required to have at least two directors, and the number of members might range from one to 149. When beginning the process of establishing a DAC, it is necessary to draught both the memorandum and the articles of association. The memorandum of association is a document that describes the connection of the company to its customers and other members of the public [6]. It details general information including the company's name and address, as well as their goals and objectives, share capital, and a list of all the shareholders. On the other hand, the articles of association include the company's internal rules and regulations for the operation of the business. These can be found in the company's operations manual. It covers methods on how to arrange meetings, how to vote at meetings, how to elect and replace directors, and how to replace directors. In addition to this, it details the functions and responsibilities of the company's directors as well as the plan for winding down operations. The name of the designated activity company must include the phrase "Designated Activity Business" at the very end, and the designated activity company is obligated to hold an annual general meeting. When compared to a partnership, which is subject to unlimited responsibility, one of the most significant benefits of establishing a DAC is the fact that it comes with limited liability. This indicates that if the company were to fail or go bankrupt, the only money the members of the firm would lose is the money that they invested into the company, and they would not be responsible for the obligations owing by the business. On the other hand, a DAC must publish its annual accounts just like a private limited company does, although a partnership is exempt from this requirement. This indicates that the company is not as confidential as a partnership would be; yet, the fact that it exposes its accounts to the public may inform the publication that it is a respectable trading company that pays its taxes. Essay Writing Services of Academic Master is providing help to world wide people in their works for increasing performance. It is necessary to provide the Business Registration Office with a memorandum of association, articles of association, and form A1 in order to establish a company. Additionally, it is necessary to specify the kind of company that will be established. Before being permitted to engage in business, a specified activity company must first register with the incorporation of companies and obtain a certificate of incorporation. On the other hand, a partnership might consider drafting a deed of partnership before beginning operations. A company name must be registered with the CRO, but the CRO has the right to reject the name for a number of reasons, including whether or not it is offensive, whether or not it suggests that the state is involved in any way, or whether or not it sounds too much like another firm's name. When choosing a name for my firm, I need to keep in mind that it will be the first thing that potential clients notice about the business, and that the name needs to convey relevant information about what I do in an understandable way. Anyone who is over the age of eighteen, is of sound mind, and is not currently serving a sentence in prison has the legal right to establish a business in their own name. In light of all that has been discussed thus far, my first inclination would be to establish a DAC rather than a partnership. The primary reason for this is that if you establish a DAC, you have limited liability, whereas a partnership does not. This means that if anything were to go wrong with the company, and if it were to go into serious debt, I would be liable to pay it all, and I would run the risk of losing any of my personal assets if I did not have sufficient funds to repay the debts if I did not have sufficient funds to repay the debts.

When working with customers, it is essential to jot down some notes in the form of a brief so that I can communicate effectively with the customer [7]. A verbal brief is not particularly suited since a great deal of information may be lost in translation; in addition, there is no written documentation of what was discussed, thus it cannot be verified at a later time. It is usually written by a project manager or a design manager, and it defines any important information that is required, such as the ultimate goal of the project, what the client wants to achieve, who the target markets are, and what the client wants. If the client isn't sure what they want, then what they don't want could also be specified to give the designer some sort of direction with the project [8]. It should also include any technical or functional specifications[9], such as, if a chair is being commissioned, the client should specify who is going to be the primary user of it and how will it be used. An example of this would be: if a chair is being commissioned, the client should specify who is going to be the primary user of it. A chair that is only used for brief periods of time, such as during meetings, may have a different level of comfort than one that will be used continuously throughout the day. This is because a chair that is used for longer stretches of time will require a higher level of comfort than one that is only used for brief periods of time. It's possible that the ingredients required for each one are also different. It is possible for a brief to include a deadline as well as important milestones. This ensures that each partner is aware of what is happening at each stage of the project and is not left confused or in the dark about it. If for some reason the brief was agreed upon through a verbal method, then the designer or myself should put the details of the brief in writing and email it out to the client for approval. Alternatively, if the brief was agreed upon through a written method, then the details of the brief should remain verbal. At the end of the day, there needs to be a formal agreement in place in some form or another. Additionally, in order to guarantee that everything goes according to plan, there needs to be continuous contact between the client and the designer [10]. Because of the significant amount of time and money it saves, having one is quite vital. When the client begins to make changes to aspects of the project that were not stated in the contract, a sense of clarity and comprehension is established, which protects the designer. It is possible to write a fresh or supplemental brief in the event that the customer requests more work to be done on the project that was not stated in the initial brief [11]. Nevertheless, it is of the utmost need to have a design brief in place. This will provide the designer with both peace of mind and a path to follow with the project so that they do not feel lost.

Along with the design brief, a Service Level Agreement is also a crucial component of this project. It provides a formal description of the level of service that is going to be offered to the customer. It provides a comprehensive description of the agreement that is based on the design brief and includes specifics such as the services that are to be supplied, the fees to be paid and the terms under which they are to be paid, the client representative, the rights of both the client and the provider, as well as out-of-pocket expenses and specifics about the termination of the contract [12]. In addition to this, it will specify the tactics that would be implemented in the event that the project had to be rushed for whatever reason. For instance, if a customer wants the procedure to be completed a couple of weeks earlier than it was originally anticipated, then the customer may be required to make an additional payment in order for it to take place [13]. During the course of the project, it will be specified in such a way that it will specify everything that the designer will perform in exchange for the time and money that will be spent on the endeavour. It's possible that the organisation already has a standard service level agreement in place, but if it does, they'll revise it according to the needs of each customer and make any necessary adjustments to account for new kinds of services. It is possible that the mode of payment will change from one SLA to the next in order to specify a breakdown of the fees, taxes, and how the company will be compensated. Concerns with intellectual property should also be brought up in the agreement in order to prevent infringing on the intellectual property of third parties. It is vital to be aware of the design market and conduct some study in order to avoid directly copying someone else's work. Although it is possible to accidentally develop something that is quite similar to the work of other designers, it is best to avoid doing so. You are not permitted to appropriate the efforts of another person and pass them off as your own; but, you are permitted to sell the copyright to your design to a customer, after which that customer is free to do anything they want with the design. If I were to create a piece of furniture in my design company that had some form of new industrial design that I'd like to claim as my own due to its colour, texture, shape, ornamentation, or anything else that is related to its form, then I could register it under the Industrial Designs Act of 2001 to protect it from being copied by other companies or individuals. This would allow me to claim ownership of the piece and prevent it from being copied by other individuals or businesses. If I designed my interiors in such a manner that they were distinctive in some way, and if you looked at it, you could immediately tell who the designer was, then I could also trademark my work. This would allow me to protect my intellectual property. Zaha Hadid is a good example of an architect whose work is easily recognisable owing to the organic nature and form that she incorporates into both her buildings and her furniture designs. Her designs can be found all over the world.

Design management is an essential part of running a company that specialises in design. This aspect of managing a corporation is making strategic decisions regarding the distribution of various design assignments among the various designers employed by the company. A design manager would be aware of the strengths and weaknesses of each designer, and they would work to ensure that tasks are assigned in the most effective manner [14]. They will ensure that the company has some type of organisational structure in place, that everything operates smoothly, and that appropriate opportunities for the company are identified. In addition, they will ensure that everything goes well. It is possible that the design management will not constantly be working on a project; rather, they will be supervising the work of other employees on their projects to ensure that no one is having problems and will assist where problems do occur [15]. In addition to managing projects and personnel, the design manager is responsible for liaising with clients and suppliers to ensure that all information is conveyed in an appropriate manner. A successful design manager should be able to lead others, communicate effectively, be persuadable, and have a very excellent understanding of design in order to be able to guide others who work under them. These are just some of the talents that are required.

A design manager can utilise design management tools to determine where their firm stands in comparison to other businesses around the world [16]. This will allow the design manager to flesh out new prospects that the organisation can take advantage of. A SWOT analysis, a competitive analysis, a product life cycle, or an Ansoff matrix are some of the tools that may be utilised in this process. If I were to start a design company, the tools that I would most likely employ are a SWOT analysis and a competitive analysis. Both of these studies help identify strengths, weaknesses, opportunities, and threats. Because I run an interior design company and do not manufacture physical goods but rather offer clients a service, a product life cycle would not be of much use to my business because it outlines the steps that occur over the course of a product's existence. This design tool might come in handy for me if I ever find myself in the position of having to create some furniture items for one of my projects. Although I could use it to learn how to increase the revenue for my services, I believe it would be more beneficial to use it with a product rather than a service. The Ansoff matrix compares your existing and new products against an existing and new market in an effort to increase sales. [17] Even though I could use it to learn how to increase the revenue for my services, I think it would be more beneficial to use it with a product rather than a service. Therefore, a SWOT study, a competitive analysis, or a design audit are the three more choices that I have that have the potential to work for the kind of firm that I run. The SWOT analysis reveals the firm's internal strengths, which demonstrate what the company is strong at and what provides it an advantage over its competitors, while also identifying the company's internal flaws, which may position it at a disadvantage when compared to its competitors [18]. This can include members of the team who are having difficulties as well as a structurally disorganised way that the organisation is being operated. The deficiencies can be remedied by giving training for any members of the staff who are having difficulty and by offering assistance whenever it is required. Communication is also an essential component to the efficient operation of a business [19]. When we talk about opportunities, we're talking about externally presented chances for the company to improve its sales, earnings, or public image. When we talk about threats, we're talking about external elements that could put the company in jeopardy. Therefore, the SWOT analysis may tell the organisation what they need to change in order to improve their business, as well as what they are doing properly in order to enhance their business. The competitive analysis can be used to identify a gap in the market and advise the business on what it needs to do in order to remain competitive with other businesses operating in the same market [20]. Therefore, the SWOT analysis and the competitive analysis would be the best tools to use because they would provide a lot of helpful information for the company in terms of what it needs to achieve to become competitive and to increase its sales and profits. Both of these analyses would be conducted in conjunction with one another.

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