My Thoughts

This assignment provided us with an opportunity to simulate the experience of starting our own firm, whether as a sole proprietorship, partnership, or body corporate. Each practice comes with its own set of requirements, which we thoroughly studied and understood in our previous assignment In our group, we decided to focus on establishing an Interior Design Firm as a sole proprietorship. We delved deeply into all the crucial aspects that needed to be considered when starting a sole proprietorship, such as the company logo, principal background, registration numbers, firm location, company structure, memberships, special provisions for IDCP (Interior Design and Construction Practice), services offered, sales forecast, financial outlay, new norms, and future projections. Additionally, we integrated some future practices elements that we had previously researched into our sole proprietorship, incorporating them as part of our special services or new norms within the firm. Through this assignment, I gained a comprehensive understanding of how sole proprietorship works and how to effectively manage a company, even though the firm we created was purely fictional. It was enjoyable to design a firm according to our personal preferences, including everything from the layout plans to the organizational structure and services offered