You have discussed your range of ideas with Paul and the group and have confirmed the business idea that you have chosen to set up as a new business venture. Paul has now asked you to prepare a briefing paper about your preparations for a new business venture, which you will discuss with the group. The briefing paper must include an analysis of the component parts of an effective business start-up plan (AC4.1). Merit task To achieve a Merit, you must additionally include in the briefing paper an analysis of the brand development and promotion aspects of launching an effective new business venture (AC4M1). Distinction task To achieve a Distinction, you must additionally develop a start-up plan for your chosen new business venture. (AC4D1).