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Business and entrepreneurship for pkbn 2017

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Business and entrepreneurship for pkbn 2017

  1. 1. BUSINESS AND ENTREPRENEURSHIP MODULE F O R N A T I O N A L S E R V I C E P R O G R A M P R O G R A M K H I D M A T B A K T I N E G A R A ( P K B N )
  2. 2. INTRODUCTION TO ENTREPRENEURSHIP MODULE CONTENTS • Business and Entrepreneurship • Business Idea • Legal Processes • Research and Planning • Finances METHOD • Lecture • Sharing • Discussion • Group Discussion and Presentation
  3. 3. INTRODUCTION TO BUSINESS AND ENTREPRENEURSHIP • What is entrepreneurship? • Why is Entrepreneurship Important? • Who are Entrepreneurs? • Why should you venture into entrepreneurship?
  4. 4. WHO WANTS TO START UP A BUSINESS?
  5. 5. WHO WANTS TO BE RICH?
  6. 6. WHY DO YOU WANT TO BE RICH?
  7. 7. HOW DO YOU BECOME RICH?
  8. 8. WHO ARE THE RICHEST PEOPLE IN THE WORLD?
  9. 9. FORBES TOP 10 RICHEST PEOPLE (MAR 2016) No. Name Net worth (USD) Age Nationality Source(s) of wealth 1 Bill Gates $75.0 billion 60 United States Microsoft 2 Amancio Ortega $67.0 billion 79 Spain Inditex 3 Warren Buffett $60.8 billion 85 United States Berkshire Hathaway 4 Carlos Slim $50.0 billion 76 Mexico América Móvil, Grupo Carso 5 Jeff Bezos $45.2 billion 53 United States Amazon.com 6 Mark Zuckerberg $44.6 billion 32 United States Facebook 7 Larry Ellison $43.6 billion 71 United States Oracle Corporation 8 Michael Bloomberg $40.0 billion 74 United States Bloomberg L.P. 9 Charles Koch $39.6 billion 80 United States Koch Industries 9 David Koch $39.6 billion 75 United States Koch Industries
  10. 10. WHAT IS A BUSINESS?
  11. 11. WHY IS BUSINESS IMPORTANT? F O R T H E B U S I N E S S O W N E R ? F O R Y O U R S E L F A S A C O N S U M E R ? F O R A C O U N T R Y ?
  12. 12. WHAT BUSINESS CAN YOU OR DO YOU WANT TO START?
  13. 13. WHY SHOULD YOU GO INTO BUSINESS?
  14. 14. ENTREPRENEURSHIP VS EMPLOYMENT D I S C U S S I O N
  15. 15. ENTREPRENEURSHIP VS EMPLOYMENT ENTREPRENEURSHIP • You can create a Business • You are your own Boss • You set your own income • You set your own time • Your are responsible for the whole business • You may need to answer to customers needs EMPLOYMENT • You have to find a Job • You have a Boss • Your Income is set • You have to follow the set time • You are only responsible for your job or your department • You need to answer to boss and job requirements
  16. 16. WHAT DO YOU WANT IN LIFE?
  17. 17. HOW MUCH WOULD IT COST?
  18. 18. WHEN CAN YOU ACHIEVE THOSE THINGS?
  19. 19. WHY DO YOU WANT TO ACHIEVE THOSE THINGS?
  20. 20. HOW CAN YOU MAKE THE MONEY TO ACHIEVE THOSE THINGS?
  21. 21. SMART OBJECTIVES •SPECIFIC •MEASUREABLE •ATTAINABLE •RELEVENT •TIMELY
  22. 22. FINDING A BUSINESS IDEA
  23. 23. BUSINESS IDEAS •Finding Business Ideas •What will make people give you money? •Maslow’s Hierarchy of Needs •Brainstorm for your Business Ideas
  24. 24. WHAT IS THE PERFECT BUSINESS IDEA? Passion Make Money Skill
  25. 25. WHAT ARE YOUR PASSIONS, INTERESTS AND SKILLS?
  26. 26. HOW CAN YOU MAKE MONEY OFF YOUR PASSION?
  27. 27. WHAT WILL MAKE PEOPLE GIVE YOU MONEY? N E E D S
  28. 28. MASLOW’S HIERARCHY OF NEEDS Self- Esteem Social Safety and Security Physiological Self Actualization
  29. 29. BUSINESS START UP COSTS • Understanding Costs –Startup Costs • Assets Purchase • Start up Expenses –Running Costs • Understanding Basic Financial Terms
  30. 30. UNDERSTANDING COSTS •Startup Costs –Assets Purchase • Fixed Assets • Current Assets –Start up Expenses •Running Costs –Fixed Costs –Variable Costs
  31. 31. EXAMPLE: START-UP FOR NASIK KATOK Assets Expenses Fixed Asset Rice Cooker $100 Biz Reg (16/17) $35 Stove $75 Business License $50 Frying Pans $100 Rental $0 Stand $200 Advertising $200 Chair $30 Hiring $600 Fridge $200 Current Asset Rice Grain $65 Chicken $100 Packing $5 Plastic $5 Total Assets $880 Total Expenses $885 Total Start-up cost $1,665 31
  32. 32. UNDERSTANDING BASIC FINANCIAL TERMS • Sales • Direct Cost of Goods/ Variable Costs • Gross Profit • Fixed Costs • Nett Profit
  33. 33. HOW MUCH MONEY DO YOU NEED TO START UP YOUR BUSINESS?
  34. 34. HOW ARE YOU GOING TO GET THE MONEY TO START UP YOUR BUSINESS?
  35. 35. SOURCES OF FUNDING • Owner Capital –Sole Owner –Partners • Investors –Angel Investors –Venture Capitalists • Bank Loans • Government Grants
  36. 36. WHAT ARE THE LEGAL PROCESSES INVOLVE IN STARTING YOUR BUSINESS?
  37. 37. LEGAL PROCESS • Business Registrations – Types – Advantages and Disadvantages – Applications Process • Business Licenses – Business License Exemption – Business License Requirements – Special Licenses • Know how and where to apply for business registration and licenses for Business
  38. 38. BUSINESS REGISTRATIONS • Types – 16/17 – Limited Companies – Cooperatives • Advantages and Disadvantages • Applications Process
  39. 39. LEGAL STRUCTURE Sole-Proprietorship Partnership Company Definition A business owned by one person A business firm/ organization of two or more business partners A business form which is a legal entity separate and distinct from its shareholders and directors Owned by One person Generally between 2 to 20 partners. A partnership of more than 20 partners must incorporate Private Company having 50 members Public Company having more than 50 members Legal Status • Not a separate legal entity • Owner has unlimited liability • Can sue or be sued in individual’s own name • Can also be sued in business names • Owner personally liable for debts and losses of business • Not a separate legal entity • Partners have unlimited liability • Can sue or be sued in firm’s name • Cannot own property in firm’s name • Partner’s personally liable for partnership’s debts and losses incurred by other partners • A separate legal entity from its members and directors. • Members have limited liability • Can sue or be sued in company’s name • Can own property in company’s name • Members not personally liable for debts and losses of company • Registration requirement • Age 18 years or above. • Brunei Citizens and Permanent Residents only. • Undischarged bankrupt cannot manage business without court or Official Receivers’ Approval • Age 18 years or above. • Brunei Citizens and Permanent Residents only. • Undischarged bankrupt cannot manage business without court or Official Receivers’ Approval • Age 18 years or above • Minimum of 2 directors. (if 2, At least one of the directors shall be Ordinarily Resident in Brunei Darussalam) • Undischarged bankrupt cannot manage business without court or Official Receivers’ Approval • At least two shareholders Formalities and expenses Quick and easy to set up Easy to administer and manage Registration cost is minimal Less administrative duties to adhere to Quick and easy to set up Easy to administer and manage Registration cost is minimal Less administrative duties to adhere to More costly to set up and maintain More formalities and formalities to comply with Annual Returns must be filed as Statutory Requirement of General Meetings, directors, share allotments, etc. Set-up fee $35 ($5 for name application fee and $30 for the registration fee) $35 ($5 for name application fee and $30 for the registration fee) $315 ($5 for name reservation , $10 for extension of reservation [if applicable] and $300 for the incorporation fees) Continuity of the business entity Exists as long as the owner is alive and desires to continue the business Exists subject to Partnership Agreement A company has perpetual succession until wound up or struck off Closing of the business By owner – Cessation of business By partners – Cessation of business or dissolution of partnership Winding up – Voluntarily by members, compulsorily by the High Court Striking Off 39
  40. 40. KNOW HOW AND WHERE TO APPLY FOR BUSINESS REGISTRATION AND LICENSES FOR BUSINESS •WWW.BUSINESS.GOV.BN •WWW.ROC.GOV.BN
  41. 41. BUSINESS LICENSES • Business License Exemption • Business License Requirements • Special Licenses
  42. 42. DO NOT REQUIRE BUSINESS LICENSES http://business.gov.bn/Shared%20Documents/pdf/Guidelines%20for%207%20types%20 of%20businesses.pdf
  43. 43. HEALTH AND BEAUTY LICENSE 1. Aerobik 2. Aromaterapi 3. Tukang gunting rambut 4. Melangsingkan badan 5. Kosmetik 6. Rawatan muka dan badan 1. Gimnasium 2. Salun rambut 3. Merias kuku tangan dan kaki 4. Urut 5. Refleksologi 6. Spa, termasuk kolam air panas atau sejuk http://business.gov.bn/Health/Syarat%20dan%20Peraturan%20Mengendalikan%20Establ ismen%20Kecantikan%20dan%20Kesihatan.pdf
  44. 44. SPECIAL LICENSES AND APPROVAL – Ministry Of Home Affairs • Concerts and competitions – EIDPMO • Exposition, Bazaar – Ministry of Development • construction activity – Ministry of Culture Youth and Sports • Child care centres – Customs and Excise • shipping – Ministry of Primary Resources and tourism, • Tourism, Tour Guides, Homestay – AiTi • info-communication – Municipal board • management of private car parks. – Ministry of Finance • Banks/Finance/Securities companies, Money Changer /Remittance, Insurance, Auditors – Department of Land Transport • Car Importers – Attorney General Chambers • Legal Firm – Ministry of Health • private clinics – Ministry of Education • Schools, private education
  45. 45. PRODUCT AND SERVICES & MARKET RESEARCH
  46. 46. PRODUCT AND MARKET RESEARCH • Products and Services – list down products and sales price • Market Research – Customers - Market Size and Segmentation – Competition – indirect and direct – Market and Industry – PEST analysis – SWOT
  47. 47. PRODUCTS AND SERVICES •List down products and sales price •Calculate Sales Forecast (Day/week/month) •Calculate the direct Costs •Calculate gross profit per unit
  48. 48. MARKET RESEARCH •Customers - Market Size and Segmentation •Competition – indirect and direct •Market and Industry – PEST analysis –Political, Economical, Strength, Technology •SWOT –Strength, Weakness, Opportunities and Strength
  49. 49. CUSTOMERS - •Market Size and •Market Segmentation
  50. 50. COMPETITION – •Types –Indirect –Direct •Strengths and weaknesses
  51. 51. MARKET AND INDUSTRY – PEST ANALYSIS •Political, •Economical, •Social •Technology
  52. 52. SWOT •Strength, •Weakness, •Opportunities •Threats
  53. 53. SWOT Internal External + Strengths Opportunities - Weakness Threats 53
  54. 54. MARKETING
  55. 55. MARKET STRATEGY •Product •Price •Place •Promotion
  56. 56. Print • Business Cards • Leaflets & Posters • Letters and Mail • Merchandise Mass Media • Billboards • Newspaper • TV • Radio Electronic • E-mail • Social networks • Websites • Media sharing networks Personal • Word of mouth • Referrals • Direct Selling PROMOTION AND ADVERTISING 56
  57. 57. MARKET STRATEGY •Discuss –Marketing Channels –Marketing Cost month/year
  58. 58. ORGANIZATION
  59. 59. ORGANIZATION • Organization Chart • Roles and Responsibilities
  60. 60. IDEAL ORGANIZATION CHART Managing Director Administration and Finance Operations Marketing & Advertising Research and Development Assistant Director 60
  61. 61. EXAMPLE - ORGANIZATION CHART Owner Manager Cook 1 Cook 2 Grill/ Salai 61
  62. 62. EXAMPLE: ROLES AND RESPONSIBILITIES Roles Responsibilities Qualific ations Salary Manager Manages Operations and marketing, O level $800 Cook •Receives order •Prepares Food from cooking (rice, Chicken, sambal) to packaging •Receives Cash •Interacts with customers Form 3 $300 Grill •Receives order •Prepares Food from grilling to packaging •Receives Cash Form 3 $300 62
  63. 63. EXERCISE EXAMPLE Manager Ali $1,000 Sales and Marketing Cik $200+commission Production Edward $500 Admin Clerk Fatimah $400 Assistant Manager Bakar $750 63 Monthly Total: $2,850 Yearly Total: $34,200 Total Annual TAP/SCP (8.5%): $2,907 Sum Total: $37,107
  64. 64. OPERATIONS
  65. 65. OPERATIONS •Input – Process – output •Running Costs •Action Timeline
  66. 66. BUSINESS PROCESS FLOW – PRODUCT • Rice, Chicken, Ingredients • Drinks • Packaging Stocks Purchase • Nasi Katok • Grill/Salai • In Kitchen Food preparation • SMS • Call • Shop Front Sales 66 Input Process Output
  67. 67. BUSINESS PROCESS FLOW – SERVICES • Marketing • Reception • Sales Customer • Booking • Service Provision • Customer Service Services • Termination or Renewal or next level • Referrals and testimonials End of Service 67 Input Process Output
  68. 68. FINANCIAL MANAGEMENT
  69. 69. FINANCIAL MANAGEMENT • Sales Forecast • Profit and Loss • Cash Flow
  70. 70. FINANCIAL STRATEGY CONTENTS Start-up Costs Sales Forecast Profit and Loss Break-even analysis
  71. 71. PROFIT AND LOSS •PROFIT = SALES – RUNNING COST
  72. 72. PROFIT AND LOSS FORECAST • Calculates the amount of money going in (from sales) and out (from operations cost) • Factors – Income from Sales of Goods or other items – Expenses from • Direct Cost of Goods Expenses , Controllable and Fixed Costs – Calculate • Gross Profit (Sales – Direct Cost) and Gross Margin • Net Profit (=Sales – Direct Costs – Fixed Costs) 72
  73. 73. PROFIT AND LOSS • Profit or Loss = Sales – Var. Cost – Fixed Cost • Sales • Variable Cost – Stocks Purchase • Fixed Costs – Rental – Salary – Marketing – Bills (water, electric, gas) – Licenses – Other Costs 73
  74. 74. BREAK-EVEN ANALYSIS • What is the purpose? – To see how many units need to be sold to make money. • What you need to know? – Units Sold – Sales per unit – Cost per unit – Fixed Costs • Formula: • Note: – this is for a single product, for multiple products you may use average. $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 0 100 200 300 Units Sold 0 100 200 300 Fixed Costs $2,400 $2,400 $2,400 $2,400 Unit Sales 0 2000 4000 6000 Unit Cost 0 500 1000 1500 Fixed Costs + Variable Cost $2,400 $2,900 $3,400 $3,900 74 PriceCostPriceSales CostsFixed salesevenBreak  
  75. 75. EXAMPLE: NASIK KATOK • Formula: • Sales Price: $1 • Cost Price: $0.75 • Fixed Cost: – Salary + Rental + Utilities – $1,700 + $50 + $100 = $1,850 • Break even sales = 1,859/(1-0.75) • =$7,400 75 PriceCostPriceSales CostsFixed salesevenBreak   $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 0 100 200 300
  76. 76. TAKING ACTION
  77. 77. ACTION TIMELINE •Set Activities - List down Steps •Set Deadlines - When do you need to do them?
  78. 78. EXAMPLE – ACTIVITY PLANMth Start End Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Setup • Research and Planning 1 Mar 31 Mar  • Registration 31st Mar  • Funding 1 Apr 15 Apr  • Rent/Set up place 16 Apr 16 May   • Purchase Assets 1 May 31st May    •Hire People 2 May   • Stock Purchase 4 May      • Marketing 20 May           • Operations 30 June          78
  79. 79. WHAT YOU HAVE LEARNED?
  80. 80. WHAT YOU HAVE LEARNED • Business Ideas • Legal Process • Start up Costs • Products and Services • Market Research • Market Strategies • Finances –Running Costs –Profit and Loss –Break Even Analysis • Action Timeline
  81. 81. NOTES http://smebrunei.wordpress.com/PK BN

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