Topic: Developing a business – Business PlanOrder Description( it’s a group work, 10,000 word, plus 1000 word reflection. but I’ve been taken topics number: 7,10,14 to write about which is 2000 word. (which is 650 per topic).you will find it in page number-4.)* (plus 1000 word reflection).1- The company name: The Web LabCompany Overview:We are writing up a business plan to provide Internet and web base developments. The main company objective for our business is to develop, design and maintain website for businesses, organisations or individuals. The company is going to start with at least 2 qualified web developers and the number of employees will be 5, and since it is a new business, our first customers will most likely be friends, colleagues and relatives. In addition, the business will have its own website in order to have an online presence and to assist in detailing our business objectives as well as promotions. We would like to also operate within the Cardiff city centre, with a possibility to expand in the future.We will also start promoting our business through various different methods, including business cards, using social network websites and online ads. The general costs for the business include office rental, hardware (computers), software (web developing programs), wages and promotion costs.THIS PROJECT WILL RELY ON SECONDARY RESEARCH ONLY2. Individual reflective report – 40%When you come to the end of the project planning stage and have helped to write your groups business plan, you will have a chance to reflect on your experiences, some no doubt will be bad and some hopefully will be good and worthwhile! In this section you should attempt to focus on what you have learnt from the process and reflect on all aspects of the module. Use sub-heading to give your report some clarity, structure and focus. For example, you will probably want to write about your own views on the feasibility of your business idea and also to suggest how it could have been possibly a better proposition.Whilst it is not expected of you to become a serial entrepreneur overnight, having obtained a good grasp in identifying of some of the problems and more importantly the solutions will be something for you to look at in this section of the assignment.Try to think through your recommendations carefully, and be aware of any resource constraints (eg. availability of finance etc), facing your group and the extent to which the business idea would be prevented from becoming a real live start-up. But don’t just say that the company needs to have more money available!You could use the following sub-headings to give your individual report more focus and structure:This reflective report should be around 1,000 words. The report is worth 40% of the total module mark.