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plans to achieve the mission of your business. It is therefore important to make regular evaluation of the business trend to ensure conformity with your business plan. 3.3 EVALUATE BUSINESS ENVIRONMENT A serious entrepreneur who is looking for a success in business will initially carry out an environmental assessment. This is because the environment may boost your business, stagnate it or kill it. Your evaluation should take into account the internal and external features of your enterprise. 3.3.1 Internal environment of your business In order for your business to thrive, it is recommended to make thorough assessment of the internal factors. (a) Capacity Determine your ability, understanding and the scope of your vision for the business you aspire to undertake by evaluating:- • Your capital. Make sure you have enough capital to effectively run your business. • Quality of your goods and services • Knowledge of your customers and their customs • Understand your business competitors • Knowledge and skill of the business. (b) Weaknesses It is important to understand the weaknesses that may affect the growth of your business, for example:- • Lack of customer focus • Lack of techniques for overcoming competition • Supply of goods and services not timely delivered 3.3.2 External environment of the business Determine the opportunities and threats of your enterprise so as to lay out viable strategies for developing your business. 11
(b) Opportunities • External capital, for example, aid, grants, loans, etc. • A conducive business environment will attract investors to enter into partnership with local entrepreneur e.g. <strong>Tanzania</strong> Certificate of Incentive to investors. • The establishment of the East African Common Market that will expand the scope of business undertaking. (b) Threats • Internal competition • External competition from multinational companies which invest in our country • Change in legislations, which do not favour local industries or business enterprises • Business environment in <strong>Tanzania</strong> can be difficult for SMEs to conduct effective business due to multiple licenses or permits, contract enforcement. However the government is trying to streamline and simplify the procedures with a view to facilitate business. 3.4 ENVIRONMENTAL SCANNING: CURRENT AND FUTURE The PESTL analysis: (a) Political The political trend may negatively or positively affect your business. (b) Economic A health economic environment will empower the people to buy your goods or services. How much does the government play its part in improving the business environment for the local entrepreneur? (Consider the necessary social infrastructures of law and order, means of transport, road network, health facilities, etc.) 12
Page 3 and 4: CONTENTS PREFACE . . . . . . . . .
Page 5 and 6: administration, management skills w
Page 7 and 8: SN BUSINESS TYPE NO. OF EMPLOYEES B
Page 9 and 10: • Sole proprietorship • Partner
Page 11 and 12: offence and upon conviction the lic
Page 13 and 14: Schemes. PART TWO 2.0 DEVELOPING YO
Page 15: PART THREE 3.0 DEVELOPING A SUCCESS
Page 19 and 20: PART FOUR 4.0 EFFECTIVE SALESMANSHI
Page 21 and 22: • Attract customers to buy at fir
Page 23 and 24: GOODS (c) Running Cost • Avoiding
Page 25 and 26: have obtained from this training.
Page 27 and 28: 6.3 TYPE OF RECORDS There are many
Page 29 and 30: At the end of each tax period add t
Page 31 and 32: enter into the country for example,
Page 33 and 34: Computation of duty and tax will be
Page 35 and 36: Example 5 Calculations Duty/Tax Typ
Page 37 and 38: • Income from business A person
Page 39 and 40: Allowable costs (i) Salaries and re
Page 41 and 42: (ii) Partnership Under a partnershi
Page 44: To pay tax voluntarily is an act of

Contents - Tanzania Revenue Authority

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