Entrepreneurship in nursing

1. ENTREPRENEURSHIP
IN NURSING

2. INTRODUCTION
Entrepreneurship has for a long time
been considered as a last resort with
people only pursuing this career option
when they fail to get salaried
employment.

3. INTRODUCTION CONT’
With the Shrinking Formal Sector, job
opportunities have become scarce
leading to high rates of unemployment
among people with various skills.
The need for entrepreneurship can
therefore not be over emphasize.

4. GENERAL OBJECTIVE
At the end of the session the students
should be able to acquire knowledge on
Entrepreneurship in Nursing.

5. SPECIFIC OBJECTIVES
Define related terms
Outline principles of entrepreneurship
Describe the characteristics of successful
entrepreneurship.
Outline the types of partnerships in an
enterprise.

6. SPECIFIC OBJECTIVES
Describe how to develop a business plan.
Describe how to develop and manage a
nursing enterprise

7. DEFINITION OF CONCEPTS
Entrepreneurship
Is a process of identifying and starting a
business venture, sourcing and organizing
the required resources and taking both the
risks and rewards associated with the
venture.

8. DEFINITION OF CONCEPTS
Entrepreneur
Is a person who makes money by
starting or running businesses, especially
when this involves taking financial risks.(
Hornby, 2010).

9. DEFINITIONS CONT’
Partnership
It is a business owned by two or more people
who share the profits and losses. (Hornby,
2010).
A partnership exists when at least two and
usually not more than 20 persons agree to
carry on a business together. (G.A. Cole,
2004).

10. PRINCIPLES OF
ENTREPRENEURSHIP
1. Commit oneself to entrepreneurship.
2. Find the right opportunity
3. Build successful teams
4. Make sure that execution is critical
Entrepreneurship is difficult even when the
idea is great, the team is good and
conditions are ideal.

11. PRINCIPLES CONT’
5. Be aware of your impact
Many successful entrepreneurs don’t change
their standards of living.
6. Be aware of your social and economic
role
Successful entrepreneurs have a specific
mission which is to work for a better world.

12. CHARACTERISTICS OF A SUCCESSFUL
ENTERPRENEUR
1. Self-motivated
Successful entrepreneurs do not need someone
who holds them accountable or forces them
to be efficient and productive.
2. Creative- ideas should be attractive to
potential clients or customers.

13. CHARACTERISTICS CONT’
3. INTUITIVE.
Entrepreneurs do not become successful due to
luck.
Every successful entrepreneur created his own
path with his intelligence, creativity and intuition.
The most successful entrepreneurs understand
how fast current trends change.

14. CHARACTERISTICS CONT’
4. Authoritative- There is need to take
advice or opinions, but in the end, you
must make decisions that will better
your company.
5. Strong-willed- Successful
entrepreneurs pass through difficult
times by being strong-willed.

15. TYPES OF PARTNERSHIPS
There are three types:
1. General Partnerships - Assume that profits,
liability and management duties are divided
equally among partners.
2. Limited Partnerships -Limited partnerships
allow partners to have limited liability as well as
limited input with management decisions

16. TYPES CONT’
3. Joint Ventures - Act as general
partnership, but for only a limited period
of time or for a single project.

17. Conditions for effective partnership
1. Trusting relationships & confidence among parties
to uphold agreements.
2. Mutual respect for involved parties.
3. Contributions of capabilities.
4. Willingness to work together.
5. Observable and perceived equality.
6. continuously negotiation for changes.

18. DEVELOPING A
BUSINESS PLAN

19. BUSINESS PLAN
Document that describe and analyze
the business, and provide detailed
information about the short and long
term goals.

20. BUSINESS PLAN
An important factor in successfully
creating a business.
Strategies for achieving those goals.

21. Description of the Business and its
location
 Describe what services you are providing .
 Where will your be found .
 Include information about your competition,
and obstacles you may need to be overcome.
Establish the advantage your business has
over them in your target market.

22. Marketing Plan
Describe your organization's structure and
operational strategy. (staffing and needed
equipment)
how you intend to establish relationships
with clients.

23. Resource Mobilization
outline of your objectives
Provide detailed and accurate financial
information to be used.
 Present your expectations for the future and
any anticipated income.
Primarily an outline of your business plan,
must be written in a way that encourages
investors to continue reading.

24. RESOURCE MOBILIZATION FOR
SETTING UP A BUSSINESS
Key resources for a business
1. Human Resources
2. Financial Resources
- Internal Sources( Salary, Savings etc)
- Sale of Assets
- Friends/Family

25. RESOURCE MOBILIZATION FOR
SETTING UP A BUSSINESS
- Group Rotational Finance Scheme(
Chilimba),Joint Ventures
- Banks like Commercial Banks,
Development (Investment) Banks- e.g. DBZ
- Government Sponsored Agencies
(CEEC),Leasing Companies

26. RESOURCE MOBILIZATION FOR
SETTING UP A BUSSINESS
3. Capital Resources –Reoccurring e.g payroll , Rent
or mortgage payments, utilities and supplies.
4. Material Resources- Office equipment e.g.
furniture, telephones and advertising materials e.g.
brochures
5.Infrastructure -Building ,office space, storage
facility.

27. LEGAL FRAMEWORK
How to register a business name with
Patents and Companies Registration
Agency (PACRA).
- Name should be legally accepted in that
particular area.
- Above 18 years of age, with sound mind
and has not been declared bankrupt in
Zambia or any other country.

28. COMPANY

29. COMPANY
A company is a business association,
whose legal entity is separate from its
owners. It continues to exist even
after the deaths or changes of its
members.

30. TYPES OF COMPANIES
Public limited company( PLC)
These companies are permitted by law to
raise money from the public by offering
their share for sale, usually by listing them
with the stock exchange market.
(membership 2 to unlimited

31. TYPES OF COMPANIES
Private limited company by shares (ltd)
The company that offers limited liability to
its shareholders but places certain
restrictions on its ownership such as not
selling its shares to the public over a stock
exchange market.

32. OPENING A
BUSINESS VENTURE
WITH GNC

33. GUIDELINES FOR COMING UP
WITH NURSING HOMES
A Nursing Home is a
residence that is equipped and staffed to
provide care for people with serious
medical conditions.

34. GUIDELINES FOR COMING UP
WITH NURSING HOMES
 They are designed to provide food,
shelter, and medical care for their clients,
as well as social, religious, civic, creative,
and intellectual activities

35. TYPES OF NURSING HOMES
Maternity nursing home
Home for the chronically/terminally ill
Home for the elderly
Home for the mentally ill
Convalescing home

36. PROPRIETORSHIP

37. PROPRIETORSHIP
Proprietorship refers to the legal
ownership of a commercial enterprise
e.g. a nursing school or a nursing
home.

38. Board of directors/ share holder of a
nursing home
A minimum of five board members
representing the following Members:
- Local authority e.g. town clerk, area councilor.
- Faith based organization e.g. church pastors.
- The community e.g. village headmen.
- Nurse
- Proprietor

39. Application procedure for a nursing
home
A Nurse seeking registration of a nursing
home by the GNC of Zambia shall fulfill the
following;
 Must be over the age of 21 years at time of
the application.
Must obtain the application form and
guidelines from GNC at a fee of K 800.

40. Application procedure for a nursing
home
 GNC evaluates the application against the set
standards
 GNC constitutes a team of assessors to physically
assess the nursing homes and verify application
details.
 GNC registers the nursing home in writing and
issues a certificate of registration which is valid for
one year
 The renewal of registration is annually

41. REQUIRED DOCUMENTS
Certificate of incorporation
List of proprietors, board members,
directors and management
Strategic plan
Sworn affidavit/ declaration that the
proprietor, board members and members of
staff have not been found guilty of any
criminal offences

42. Required documents cont
 Tenancy agreement with landlord or proof of ownership
of premises
 Bank statements or financial standing.
 Evidence of compliance with the laws of the land e.g.
tax land rates
 Client support services such as transport, catering,
telephones
 The registration certificate shall be displayed in a
conspicuous place of the nursing home

43. Management of a nursing home
The daily management is responsibility of a
registered nurse or midwife with relevant
qualifications 5 years experience.
A minimum of two nurses/ midwives in full/ part-time
employment that shall have a current practicing
license.
Can recruit or subcontract a doctor with a valid
practicing license issued by the health professions
council of Zambia.

44. Mgt of a nursing home cont
Nursing homes can access other services
not available on site.
Should comply with the national protocols
in providing nursing and midwifery practice
as well as the professional code of
conduct.

45. Cancellation of registration
Cancellation occurs:
- If the council has evidence that the
nursing home is managed in a manner
contrary to the regulations of the nurses
Act no. 31 of 1997
- Contravene with the health and safety of
the public.

46. GUIDELINES FOR NURSING
COLLEGES
Registration process
1. Applicant collects and submits the completed
application form to GNC
2. GNC evaluates the application against set
standards
3. GNC constitutes a team of assessors to
physically assess the institution and verify
application details

47. Registration process CONT
1. GNC registers the institution in writing
and issues a certificate of registration
which is valid for one year
2. The renewal of registration is annually

48. Required documents for opening a
nursing college
1. Certificate of incorporation
2. List of proprietors, board members,
directors and management
3. Strategic plan

49. 4. Sworn affidavit/ declaration that the proprietor, board
members and members of staff have not been found
of guilty of any criminal offence
5.Tenancy agreement with landlord or proof of
ownership of training premises
6. Bank statements or financial statements should
review sound financial standing to facilitate running
of the institution for the next six months

50. 7. Evidence of compliance with the laws of
the land e.g. tax, land rates, insurance.
8. Student services and support policy

51. Board of directors
The college shall have board of directors
whose composition shall not be less than 60%
of nurses and midwives
The remaining 40% includes persons with
credible business acumen, laity and a medical
doctor.

52. THE BOARD OF DIRECTORS
The board shall be responsible for
directing the affairs of the nursing and
midwifery college

53. Mission and vision statement
Each private nursing/ midwifery college
should develop a mission and vision
statement that will reflect :
- its professional values
- promotion of high standards of teaching
and learning as
- Upholding clinical competences of the
graduates

54. PROGRAMMES OFFERED BY
NURSING COLLEGES
Direct Entry Registered Nursing
Enrolled Nursing
Registered nursing programme
Mental health nursing
Direct Entry RNM
Registered Public Health Nurse

55. Post basic programme
Registered midwifery
Enrolled midwifery
Registered Operating Theatre nursing
Ophthalmic nursing
Intensive (critical) care nursing

56. MANAGEMENT OF NURSING COLLEGES
Principal tutor (1)
Should be a registered professional nurse or
midwife who has the education,
qualifications and experience
University graduate with Bsc in nursing or
nursing education or better
3 years experience in admin of a nursing
school
Evidence in nursing and midwifery research
Valid practicing license

57. MGT OF NURSING COLLEGES cont
Senior tutor
University graduate with Bachelor in nursing
or better Bachelor in nursing education
Three years teaching experience
Posses a valid practicing license

58. Tutor
University graduate with Bachelors in
nursing
Evidence in nursing and midwifery
research
Posses a valid practicing license

59. REGISTRATION AND LICENSING
The council registers and issues a certificate
of registration to a nursing college.
The certificate is valid for one year.
The college shall be required to display its
registration certificates
The applicant shall comply with other
requirements the council may deem
necessary from time to time

60. REFUSAL TO REGISTER
 GNC may refuse registration of a nursing
college if the:
College does not meet the minimum set
standards
Applicant has been convicted of any
offence under the nurses and midwives

61. Suspension or cancellation of the license
A license may be suspended or cancelled if:
The council has evidence that the business is
conducted in a manner contrary to nurses
and midwives Act
Professional code of conduct has been
breached

62. Suspension or cancellation of the
license
Continuation of training threatens the health and
safety of the students
Have been convicted of a criminal offence by the
court .
The registrar shall suspend the certificate of
registration pending final decision by the council

63. Renewal of registration certificate
All applications for annual renewal reach the
council by 31 December for the following
year.
 The council conducts compliance annually of
the nursing colleges before renewal.
The teaching staff must possess valid
practicing license in accordance to the
provisions of the GNC Act.

64. Certification of graduates
The council shall be responsible of
awarding of certificates and diplomas to
graduates in accordance with the
provisions of the nurses and midwives
Act no. 31 of 1997 part v.

65. MONITORING AND EVALUATION OF A
PRIVATE NURSING ENTERPRISE
Monitoring - means to "keep an eye on
things'', i.e. to ensure that ongoing
activities are being implemented
according to a pre-determined schedule
or set of interventions. (Mukerjea,
2003).

66. MONITORING AND EVALUATION OF
A PRIVATE NURSING ENTERPRISE
Evaluation- implies that activities are
assessed periodically by both parties
and beneficiaries to assess the impact
as stated in the programme's
objectives. (Mukerjea, 2003).

67. Objectives of Monitoring and
Evaluation of a nursing enterprise
To ensure that :
Activities are kept on right track in
relation to objectives.
 That an activity has been able to meet its
objectives.
 Implementation procedures are
appropriate and that they reflect the felt
needs of the beneficiaries

68. Cont,d
People learn from experience so as to
enable an organisation plan, make
strategies and develop its human
resources
Documentation of information

69. Types of Monitoring
 Input Monitoring - it determines whether resources
are being mobilised as planned for example funds.
 Activity Monitoring - are being carried out as
planned.
 Output Monitoring- Whether services are being
delivered .
 Impact Monitoring-explores what is working well or
not in a nursing enterprise.

70. Monitoring as a Process
It include the assessment of three issues;
Functioning of programme activities
Use of programme inputs by targeted
population
 Impact monitoring

71. REQUISITES FOR NURSING
ENTERPRISE GROWTH
Learning, skills and wellbeing
Supportive business environment
Infrastructure development and place
Effective Government policies –

72. CONCLUSION
Entrepreneurship is the art of
identifying viable business
opportunities and mobilizing resources
to convert those opportunities into a
successful enterprise through
creativity, innovation, risk taking and
progressive imagination.

73. CONCLUSION
Nurses need to get involved in
entrepreneurship using the knowledge
and skill they acquire from training
institutions. This will help improve the
status of nurses and supplement the
Government’s effort to provide nursing
care and education.

74. REFERENCES
 General nursing council of Zambia (2011), the nurse and midwives
Act 1997; Guidelines for nursing homes, Lusaka.
 General nursing council of Zambia (2010), the nurse and midwives
Act 1997; guidelines for nursing college, Lusaka
 Cunningham, J.B. & Lischeron, J. (1991), 'Defining
entrepreneurship', Journal of Small Business Management,
Vol. 29, January, pp. 45-59.
 Kuratko, D.F. & Hodgetts, R.M.( 2004), Entrepreneurship: Theory,
process, and Practice, 6th edn. Ohio: South Western.

75. REFERENCES
 Bailey, J. (2003) 'The right stuff', Business Review Weekly, 4-10
September, pp. 32-34, 36.
 Brockhaus, R.H. &Horwitz, P.S. (1986), 'The psychology of the
entrepreneurs' in Sexton, D.L. &Smilor, R.W. (Eds), The Art and Science of
Entrepreneurship, Cambridge, MA: Ballinger Publishing pp. 25-48.
 Churchhill, N.C. & Lewis, V.L. (1992), 'The five stages of business growth'
in Sahlman, W.A. & Stevenson, H.H. (Eds), The Entrepreneurial Venture:
Readings, Boston, MA: Harvard Business School Publications pp. 263-
275.

76. Reference cont,d
 Liles, P. R. (1974), 'Who are the entrepreneurs?', MSU Business
Topics, Vol. 22, No. 1 pp. 43-55.
Mintzberg, H.( 1990), 'Strategy Formation - Schools of Thought', in
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Business, New York.
Mukerjea, D. (2003), Brain Symphony, Horizon Books pte Ltd,
Singapore.
O'Neile, M.J. (1989), 'The entrepreneur in economic thought',
Armidale, NSW: Department of Accounting and Financial Management
University of New England.

77. THANK YOU FOR LISTENNING