I will use the money to boost my business by entering into a post paid contract with my internet service provider (isp)...

Entrepreneur

About Me

I am a holder of Bachelor of Computer Science, A-Level Certificate and O-Level Certificate. Despite my impressive academic credentials, I have been unsuccessful to find permanent employment in the Kenyan IT job market that marries well into my career aspirations. As such, I used contractual engagements in IT, and report writing to practice and develop my IT and writing skills to buttress my present career and business in professional writing, which has also relied hugely on my computer science skills and competency.

My Business

I am a professional online freelance writer with a business focus on contract writing of web content, academic articles and research reports targeting a global client. Currently, I do my writing assignments from my home office; however, a tremendous increase in the number of assignments in the last three months has compelled me to expand my business to train and employ more writers to match the rising demand. Accordingly, the fundamental business concern is developing an official website, finding office space and having my writers work within official hours, as well as the opportunity to examine and uphold quality and timely delivery of assignments. The rising demand for professional writers owes to the fundamental and profound effect the internet has had on the business environment, which has compelled both small and large-scale businesses to use the internet as the main medium for advertisement. Correspondingly, for writing web content, most of my clients are from non-English speaking countries particularly China and MENA (Middle East and North Africa) region, whose websites aim at English speakers who form a critical mass of the global internet users and consequently potential customers.
The success of my business owes to a majority of clients on the Internet preferring English content writers from developing countries who have a good grasp of written English since professional native English speakers from Europe and from the United States charge prohibitively high costs. Additionally, having samples of previous written work for client evaluation is a strong form of advertisement that encourages clients to seek my service. My payment terms, a commitment deposit upfront and payment held by a third party and only payable after client’s satisfaction of the work done also has immensely assisted trust building with clients. Besides the high demand, the business is both profitable and sustainable since initial investment is not capital intensive, only requiring a computer system and an active, reliable internet connection. However, with the expansion of business, it is critical that I should develop a website for marketing and handling client concerns and renting an office space for my staff to take and complete orders. Collectively, these activities require a significant amount of investment, which I do not currently have, and owing to the nature of the business, I am constrained to seek for loans from the traditional banking and government sources that require securities.
About financial performance, for the last six months, the writing business has brought monthly revenues averaging at KES 45,000.00 per month. Since I work from my home, my major monthly business expenses are KES 10,000 for internet access and KES 5,000 for maintenance of my computer systems, leaving me with a net income of KES 30,000. However, for the next six months I plan to re-invest 80% of the profits, coupled with external funding, to afford the following costs of expanding the business. (a) Developing an interactive website at the cost of KES 25,000. (b) Renting an office space for the initial six months at KES 48,000 @ 8,000/month. (c) Hiring at least four writers, two during the day and two during the night at a basic salary of KES 2,000 plus 60% commission on work completed, and a secretary @12,000 to carry out secretarial work. I plan for the initial loan to offset basic costs associated developing a computer network and subsequent loans on funding web site development.

Loan Proposal

I will use the money to supplement my current savings and enter an agreement with Faiba Limited for supply of internet services, for KSH 9,500 for one month. This is likely to cut down on operational cost, while allowing for the expansion of my business. My business is currently at its peak, and the fact that I rely on a modem for internet service poses a great challenge.

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