Question

The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business Plans from all ‘Year 2020’ Ghanaian graduates of tertiary institutions across the country to access a seed money for setting businesses through Stimulus Package known as the COVID FUND. It is important to note that the Fund Managers require applicants to show proof of how feasible their plans would be. This implies that you are expected to explicitly show how and when the venture would pay back the investment, at what point would the venture break-even as well as the opportunity cost of your venture (e.g., Time Value of Money (TVM) like
NPV, BCR & IRR). Fortunately for you, after a semester’s course in Entrepreneurship, you have learnt about how to write a pitching business plan. How would you go about this onerous task?

management studies

Answer 1

Business Plans:

Business planning include creation of the project report which describe the business plan and analysis the business opportunity based on it . It help to set up structural business plan which may result to saving of time and also resources which are available are best to be utilize in the efficient manner. These are are various point to be consider for effective business plan as per the current environment COVID-19:

-We have to analysis the identification of the business in the form of type.

-Then we analysis the competitor in the field and also analysis there strength and weakness.

-Proper research is to be made regarding customer and the competitors which will help to make strategic decision.

-If business plan are execute through partnership than clear vision is necessary.

-Capital expenditure are also to be analyzed for set up a business in the form of space,machine,equipment,furniture and like.

-Proper analysis of source of fund are to be consider.

-Break even point is to be consider which is helpful to analysis at what output project is at break even which result to help in decision making.

-There are various methods of finance to be applied like pay back period in which a firm analysis in how much time they will be return back.

-Demand of the product as per current environment is to be analysis.

-During this environment analysis made to take expenses against the revenue.

-Opportunities from the environment are to be analyzed properly too take benefit under these environment.

So as per this analysis it is observed that during tough time like in the current COVID-19 where all around lockdown it is difficult for the business to survive so make a plan which gives minimum cost and maximum benefit as per the current demand in the market and also new areas for the development is necessary to save not only business but also employment and poverty. These two are badly effect nowadays so efforts made to make plan effectively which will benefit to the society as well as to the nation.