Nandipha-Thabo partnership has built up a small but successful business that has been in operation for over ten years. The business makes a range of ladies dresses which are sold through boutiques and selected regional department stores. The image of an exclusive label is maintained by not selling through national department stores. The question sets out the mission statement and objectives of the company. It then sets out the budget details for 2023, as agreed by line managers after negotiation in the later month of 2022, together with the balance sheet expected at 31 December 2022 as a starting point to the budget preparation for 2023. Mission statement and Objectives Nandipha-Thabo Partnership Mission statement The company intends to maintain its position in a niche market in supplying fashionable designer dresses at affordable prices for the discerning buyer. The relatively small scale of the operation will be maintained as part of the attraction of the product. The two working partners, who together own the business, are committed to maintaining a close relationship with customers and staff so that quality of service remains uppermost at all times. Objectives The company intends to recruit high-quality staff. The company will continue its no-quibble money-back-within-30-days policy. The company has a target gross profit of at least 35% on total sales