Entrepreneur
Name
Joseph
Member since
November 2016
On-time repayments
64 installments • 50%
About Me
I am a business person operating a stationary shop.
I have been operating the business for almost 3 years now having studied on Njumbi high school and Chuka University was able to acquire relevant knowledge on business management.
After graduation, I will become an entrepreneur in order to use my innovative, communication and interpersonal strengths to develop my business. The perfect business to start is a stationery store which will be selling quality products, especially to the people. The values and mission of the business are to provide quality products that will increase the competitive advantage of the business in the long run. There is a need to find a solution for by personal failure of financial analysis to effectively manage the business. There is a need to ensure that there is a mission, vision and values in the business plan so as to provide a guideline on how tasks are to be performed to achieve set business goals.
Marketing is essential in making the product known to the targeted consumers so as to increase its sale volume. There is the need to develop a marketing strategy that will provide quality sales and promotion methods to increase the market share through proper positioning of the business. The sales forecast is essential in a business plan so that one can come up with the volume to produce to reduce operational wastage. This is where the labor and production cost require being noted as an expense which should be less than the return from the sale of products. This marketing and business plan has made it possible to strive in the business.
My Business
My business deals with selling of books and other studying materials in retail.
Making a profit of approximately 1500 daily.
I analysed both the internal and external business environment for an incrrease in a competitive edge in the stationery market.
A business plan helps one to come up with decisions that will provide a long survival of the business. The business plan will analyze the external business environment in the region so as to come up with ways to work effectively within the dynamic external environment. PESTLE analysis is used to analyze external business so as to attain success in the changing business environment. Contingency and risk mitigation strategies to be used by the jewelry business include; risk forecasting, risk option evaluation, and plan evaluation strategy. Risk management is important in identifying the external threats that are facing the business so as to come up with effective strategies that will assist in achieving set long term goals.
My business is ethical and it follows the set rules of trade.
The business should follow ethical principles in the society to make the products widely accepted by the targeted market. This is achieved by treating the stakeholders ethically which include employees, consumers, competitors, creditors and suppliers of the business. The payback period methods to be used by the company are necessary to provide the expected return within the specified period of time for business progress.
Competitive advantage if the key factor in ensuring that there is an increase in profit from business production.
My business has clear vision, business marketing strategies, ethical practices and mitigation strategies for a competitive advantage in the industry.
This ensures that there is a successful entry into a certain market and survival in the industry.
The cost of production require to be analysed when operating a business so as to ensure that there is progress in production.
i improve my business to meet a large market share for a long survival of the business in this competitive business world.
Loan Proposal
I will use the 60 dollars to enhance my business through the additional stock.
The stock will be used to meet the high demand in the market and thus boost my profits.
The profit will be over 50dollars as the money circulation will be necessary in acquiring a stable cash flow for my business.
Will be paying on Sunday every week.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$61.00
Date disbursed
Mar 21, 2018
Repayment status
Late
Projected term
7 months
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