Entrepreneurship skills are needed by everyone. This was a presentation made for some selected district associations in North Western Province of Zambia to equip them with useful entrepreneurial skills

1. ENTREPRENEURSHIP TRAINING
WORKSHOP
05TH TO 07TH SEPTEMBER, 2022
FLORIANA LODGE
LUMWANA, KALUMBILA
CONSULTANT
MR. MWANDEZI KALUBA
0967-951285
kmwandezi@gmail.com

2. BACKGROUND
• The Workshop has been organised by FAO in conjunction
with FD
• To capacity build SMEs in order to better manage their
enterprises

3. OBJECTIVES
To enlighten
participants on
the need and
importance of
entrepreneurship
To revive
entrepreneuria
l competencies
of participants
What are your
expectations??
To assist
participants in
modelling their
businesses/ent
erprises
To help
participants
understand basic
financial planning
WORKSHOP

4. WHAT IS
ENTREPRENEURSHIP
???
The art of identifying viable
business opportunities and
mobilising resources to convert
those opportunities into a
successful enterprise through
creativity, innovation, risk taking
and progressive imagination.
• Entrepreneur/Intrapreneur
• Pulled and Pushed

5. WHY ENTREPRENEURSHIP?
• Prepares people for entry into the world of
work
• Provides people with an option to decide
between formal employment or self
employment careers
• Improves a culture of self reliance and
independence

6. DEFINITIONS
GROUP WORK
Entrepreneurship
is progressive
Business is usual
A businessman
does same things
all the time; An
entrepreneur
innovates and
progresses

7. FEATURES OF ENTREPRENEURSHIP
• FEATURES
3. Progressive imaginations

8. BENEFITS OF ENTREPRENEURSHIP
• No fixed income/variety of income sources
• Employment to others
• Security/ownership
• Freedom and flexibility with time
• No gender discrimination
• No age restrictions
• Opportunity for personal development
• Implementation of own thoughts and ideas

9. CHALLENGES OF
ENTREPRENEURSHIP
• Uncertainty of income
• Risk of losing your long accrued investments
• Long hours and hard work
• Complete decision making responsibilities
• …e.t.c

10. •Lunch time

11. DEVELOPING ENTREPRENEURIAL
COMPETENCES
• For you to succeed as an entrepreneur you need to have a
vision, bravery, ideas and originality that can enable you to
develop a successful enterprise.
• Entrepreneurs continuously seek for ways to create new
products. In this way entrepreneurs anticipate trends and
recognise opportunities that enable them to make money.
• Starting an enterprise requires a lot of innovativeness and
creative thinking. It also means identifying new solutions to
current societal and environmental challenges and addressing
them in a profitable manner.
• The success of any business depends on the owner's level of
entrepreneurial competencies (personal characteristics), their
personal situation and their level of skills.

12. ENTREPRENEURIAL COMPETENCES
• These are personal attributes, attitudes, traits
and behavioural patterns necessary for
successful business practice.
• There are ten (10) main entrepreneurial
competencies that are key for business
practice. Each entrepreneurial competency is
demonstrated by at least three behavioural
patterns

13. ENTREPRENEURIAL COMPETENCES
CONT’D
Achievement Cluster
• Opportunity Seekin$and Initiative
• Risk Taking
• Demand for Efficiency and Quality
• Persistence
Planning Cluster
• Information Seeking
• Goal setting
• Systematic Planning and Monitoring

14. ENTREPRENEURIAL COMPETENCES
CONT’D
Power Cluster
• Persuasion and Networking
• Independence and self-confidence
Why Entrepreneurial Competencies?
• A study on the differences between successful
entrepreneurs and unsuccessful ones
operating in the same environment revealed
that successful entrepreneurs possessed
certain personal entrepreneurial
competencies

15. LIFE SKILLS IN ENTREPRENEURSHIP
• Life skills are problem solving behaviours used
appropriately and responsibly in the
management of personal affairs. They are a set of
human skills acquired via teaching or direct
experience that are used to handle problems and
questions commonly encountered in daily human
life. The subject varies greatly depending on
societal norms and community expectations. You
will also notice that some of the life skills such as
goal setting also appear under entrepreneurial
competencies.

16. LIFE SKILLS IN ENTREPRENEURSHIP
CONT’D
• Life skills relevant to business practice are
skills that enable one to cope with stress and
challenges of daily life. Although life skills are
different from each other, many are used
simultaneously in practice

17. LIFE SKILLS IN ENTREPRENEURSHIP
CONT’D
Examples of life skills;
• Communication as a Life Skill
• Self -Esteem as a Life Skill
• Negotiation as a Life Skill
• Saving as a Life Skill

18. BUSINESS FINANCING
Business finance is a way of securing
economic support to supply funds for your
business expenses (squareup.com)
It is the raising and managing of funds by
organisations…

19. BUSINESS FINANCING CONT’D
GROUP WORK
GROUP ONE – CDF
GROUP TWO - CEEC

20. BUSINESS FINANCING CONT’D
Borrowing
• GRZ Grants – CEEC, CDF, MSME
• GRZ Loans – CDF, MSME
• Bank Loans
• Private Financial Institutions
 The major factor of using loans as a financing option
is collateral. Which can be in form of land property,
other valuable property, bankable money, e.t.c

21. BUSINESS FINANCING CONT’D
Service Provision
• Agriculture
• Management of forest products
 Savings is the main channel of financing through service
provision
Group Rotational Finance Schemes
 Involving a group of people agreeing to contribute
certain amounts per period to group members on a
rotational basis
Joint Ventures
 these are arrangements entered into between
businessmen, often for a specific reason. Each partner
contributes some needed funds or in kind

22. •END OF DAY ONE

23. INTRODUCTION TO
BUSINESS/ENTERPRISE
• The term "enterprise" has two common meanings.
• Firstly, an enterprise is simply another name for a
business.
• Secondly, and maybe more importantly, the word
enterprise describes the actions of someone who
shows some initiative taking a risk by setting up,
investing in and running a business.
• Your type of business can be one of the six;
(i)manufacturers, (ii)service provision,
(iii)Construction, (iv)Agriculture, (v)Mining, (vi)retail
and wholesale.

24. INTRODUCTION TO
BUSINESS/ENTERPRISE CONT’D
• The term business refers to an organisation or
enterprising entity engaged in commercial,
industrial, or professional activities.
• The purpose of business is to
organize/manage economic production and
consumption of goods and services
• Corporations are considered to be juridical
persons, meaning the business can own
property, take on debt and be sued in court…

25. INTRODUCTION TO
BUSINESS/ENTERPRISE CONT’D
 Key components of business;
• Value Creation – discovering what people need or
want, then create it.
• Marketing – attracting attention and building
demand for what you have created
• Sales – Turning prospective customers into paying
customers
• Value Delivery – Giving your customer what you have
promised and ensuring that they are satisfied
• Finance – Bringing in enough money to keep going
and making your efforts worthwhile.

26. LEGAL FORMS OF BUSINESS
Sole Proprietorship
• This is a one man’s or Woman's business. It is also
known as Sole trader. The advantages are that the
owner enjoys the profits alone, its easy to register,
business decisions are easy and quick to make.
Partnership
• Partnership is a form of business where two or up to
twenty people can agree to come together to start a
business of the type of their own choice.

27. LEGAL FORMS OF BUSINESS
CONT’D
Co-operative
• This is a form business whose owners are called co-
operators. It is registered with the Registrar of Co-
operatives/Societies under MSME/MHA. The
minimum number of a co-operative required for
registration is Ten (10)
Corporation
• A Corporation is a company. There are two types of
companies. Public Limited Company and Private
Limited Company.

28. STEPS IN SETTING UP A BUSINESS
Market Research
• Using your business idea as the starting point, you need to
learn more about your customers and competitors through
market research. But the more you know the better you will
be in designing your marketing Plan
Market Segmentation
• As you collect information about your customers remember
that potential customers do not share the same needs and
wants. In order to be able to provide the most adequate
product or service you need to identify groups using clear and
distinguishable characteristics. This could entail identifying
them by age, gender, income: and decide on which groups
you will serve

29. STEPS IN SETTING UP A BUSINESS
CONT’D
Competitor Analysis
• You need to analyse the market segment you want to target
and assess the level of competition. Take time to assess the
specific key industry success factors.
Feature Product/Service Competitor 1 Competitor 2
Product quality
Price
Deliver Lead Time
Multiple Use
Taste

30. STEPS IN SETTING UP A BUSINESS
CONT’D
Product/Service Definition
• You have to decide what type, quality, size and
Defining Business location
• You need to identify your unique business
location where your product/service can be
bought at a good price
Most importantly, you need to begin by
formulating your Business Plan

31. COSTING YOUR PRODUCT/SERVICE
 Costing is the process of calculating how much money you
have spent to produce a product or offer a service, before you
can come up with a price for that product or service that gives
your business a profit
• It is important you know your costs so that you are able to;
 Set your prices in such a way that you make a profit
 Identify which items use up higher costs and how you can
possibly reduce those costs
 Avoid charging unnecessarily high prices which may lead to
overpricing
 Avoid charging unnecessarily low prices which may lead to
underpricing

32. COSTING YOUR PRODUCT/SERVICE
CONT’D
• For you to do your costing properly, you need to
keep very good records of all your expenses or
payments for various items required for your
business.
• You need to understand your (i) Direct Costs and (ii)
Indirect Costs
• In some businesses, Direct costs can be divided into
two – (i) Direct Labour costs and (ii) Direct Material
Costs.
• Other businesses can even have Direct Expenses…

33. COSTING YOUR PRODUCT/SERVICE
CONT’D
• A farmers costs can be as follows;
Direct Material Costs Direct Labour Costs
• Fertiliser
• Pesticides
• Maize seed
• Clearing
• Ploughing
• Application of fertilizer
• Weeding
• Harvesting
• Packaging
 Considering a farmers production costs, how much should a
bag of maize cost?

34. FINANCIAL PLANNING
• Before you start your business, you have to plan for
both profit and cash flow. When you start the
business, you should follow up the sales and costs as
well as your cash flow closely to make sure that
everything is going as planned.
• In order to manage your finances properly you need
to keep certain records such as
 Daily Petty Cash Book
 A Cash Book
 Cash Flow Projection
 Profit and Loss Account
 Balance Sheet (Financial Position)

35. FINANCIAL PLANNING CONT’D
 Daily Petty Cash Book – This is a book showing all
financial transactions in a particular day
 A Cash Book – This is book showing all financial
transactions in a month
 Cash Flow Projection – This is a projection showing the
planned cash flow of a business
 Profit and Loss Account – This is document showing
whether a company/organisation made a loss or profit
over a one year period
 Balance Sheet – This is a document showing the Financial
Position of a company/organisation

36. FINANCIAL PLANNING CONT’D
GROUP WORK
 Using your enterprise, do a cash flow
projection for one year
 Show how a cash book for two
months would look like