Starting my own small business: a training module - unesdoc - Unesco

More documents

Recommendations

Info

Unit 5Setting my pricesProfitThe entrepreneur should set the level of profit made on the sale of a product or servicecarefully, taking into account the relationship between demand for the product (howmany people want it) and the available supply (number of products available to besold). If demand is great for the available supply, the price (and thus the profit) maybe increased. If there is a large supply, but few people want to buy, then prices maydrop. An excessively high price due to a big margin of profit will dissuade customers.When sales increase, profit margins may be reduced. This can enable the entrepreneurto lower the selling price, therefore allowing the business to secure the market andeven expand it. Select a product or service. Ask participants to cost the production, overheads(electricity, etc.) as well as factors such as labour and depreciation ofequipment. Ask them to set a profit margin and selling price.Remind participants that the profit earned by business may not be retainedin its entirety. The business may need to pay taxes to the government or localauthorities.15
Unit 6Finding the money to start my businessPeople believe that they need a lot of money to launch a business. This is not alwaystrue. Talent, resourcefulness and hard work are all as important as money.When we decide to start a business, we need to think about what materials we willneed. Different types of business require different materials. What a business needswill depend on the nature of its activity (the product or service it is providing), and ofcourse its size (how many people it employs, how many clients it has and the amountof goods or services it provides).We should try to obtain the things we need from sources in our community thatwill not require payment. Materials can be expensive, particularly if they have beentransported long distances. Wherever possible, they should be obtained from thelocal community and its surrounding areas. If the necessary materials are not easilyavailable for a reasonable fee, it may be necessary to change the business plan slightlyso that we work without that item or work with an alternative item that is similar,or will serve the purpose.We may also need premises to start our business.If we need to pay for materials and premises to start our business, we will of courseneed some money. We will then need to identify sources from which we will be ableto obtain the money we need.The funds for launching the business may be obtained from one or a combination ofsources: personal savings family funds community co-operative organizations community financial syndicates micro-finance organizations post office savings and loan associations banks, etc.16
Page 2 and 3: STARTINGMY OWN SMALLBUSINESSA train
Page 4 and 5: programmes. This can help prepare l
Page 6 and 7: to perceive themselves as the actor
Page 8 and 9: would rather write, draw or just ta
Page 10 and 11: Business skills9Part AThis part of
Page 12 and 13: Unit 2My entrepreneurial skillsThe
Page 14 and 15: Unit 4My marketBusinesses function
Page 18 and 19: Unit 6Finding the money to start my
Page 20 and 21: Unit 7Banking Discuss: Is starting
Page 22 and 23: Unit 9Communicating with mycustomer
Page 24 and 25: Unit 10Makingthebestuseofmytime Ask
Page 26 and 27: Unit 12Managing my workplaceThis un
Page 28 and 29: Unit 13My business planIn this unit
Page 30 and 31: Unit 1Contacting my clientsandpartn
Page 32 and 33: Unit 2TheInternetande-businessThe I
Page 34 and 35: 34Programme:STARTING MY OWN SMALL B
Page 36 and 37: 36Unit Specific learning outcomes A
Page 38 and 39: 38Unit Specific learning outcomes A

Starting my own small business: a training module - unesdoc - Unesco

Create successful ePaper yourself

Delete template?

Save as template?