Enterprise and Entrepreneurship: Business Plan for Refresher

This article presents a business plan for Refresher, a battery rechargeable blender, including target customers, competitors, profit and loss projections, funding sources, and management systems. It also discusses the skills required for successful entrepreneurship and the importance of a clear vision for the business idea.

ENTERPRISE AND
ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Proposed future business..............................................................................................................3
Customers in the context of B2B and B2C..................................................................................3
Competitors in market..................................................................................................................3
Skilled analysis ...........................................................................................................................4
Projected two year profit and loss account and cash flows.........................................................4
Profit and loss accounts-..............................................................................................................4
Cash flow forecasting-.................................................................................................................5
Sources for funding to grow business opportunities....................................................................6
Planning for obtaining resources.................................................................................................7
Type of organization and management systems..........................................................................7
Vision for business idea...............................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Enterprise and Entrepreneurship are those successful factors that make an entrepreneur
successful and profitable in the world of business.
In this business plan it would be discussing about new business idea or a specific plan
that Refresher will innovate in target market for further development for audience needs. Also, it
will describe about target customers and competitors for business. Overall it would be covering
major aspects for business formation such as P&L statement, cash flow and information systems.
MAIN BODY
Proposed future business
The idea of launching Refresher in the market was derived from technological concerns
as such it provides ease for customers to carry their own blenders anywhere. The most efficient
specification of product it is battery rechargeable blender (Jones, Penaluna and Penaluna, 2019).
The idea bring innovation into market making new opportunities for people in marketplace with
provision of favourable budget. Whereas propose business idea has various convenience for
customers. Overall, this blender is totally rechargeable as such people can carry it anytime
anywhere due to its handy comfort.
Customers in the context of B2B and B2C
The target customers for business would be B2C as such portable blenders are easy to use
and most of the customer segments can easily access to get services in favour. B2C buyers tend
to purchase products for their personal usage or it can be for friends, family. By the convenience
of product customers will likely to get offerings from company. On the other hand unique selling
proposition of product would be in favour of target audience as such product forms unique
identity in itself which will drive customer to be attentive towards such facilities. As it can be
said through market analysis most of the customers were unable to get such facilities whereas
Refresher aid them to get over this concern.
Competitors in market
The potential rivals for business could be various service providers in industry as such
there is vast competition in existing market. The customers will make purchase from current
offerings due to unique selling proposition of business. While each and every one will be
provided with adequate facilities and discounts on their purchase. Also, the online service facility
for customers provide ease in getting services from organization in fast and easiest ways.

Industry is been in constant presence of broad numbers with international and regional players as
such players' insight introduce to new products to gain competitive edge. Furthermore, key
players expand business in growing markets for capturing growth opportunities. The competitive
for new technological product is in higher extent whereas Refresher aims to provide customers
with quality service as compared to others. The online market is expected to take further growth
in upcoming years as such technology is growing immensely in the current trend and modern
industry. Similarly, organization will provide more benefits to customers through online sources.
Skilled analysis
Capable skills for penetrating marketing strategies
In the circumstance of moving business to further growth aspect it is essential to have some basic
fundamental skills to make business strategies more convenient (Ramsgaard, 2018). In similar,
business management skills are capable enough to take business idea to wards more suitable
terms of expansion. Thus, communication skill plays crucial role to interact with various
customer segments and drive the marketing tactics effectively. Lack of communication form to
poor outcomes in business management and taking business idea forwards.
Skills required
On the other in regard with same the skills which needs to be formed are technological skills in
order to make business operations more effective. Also, marketing efforts need to be formed to
maximize the attention of potential customers in industry.
Gaps
In regard for the same technological knowledge would be developed by getting adequate training
in order to build ability of utilizing it in better ways. Although, for uplifiting marketing efforts it
will be done by going through with telecommunications organizations to market business idea
and strategies.
Projected two year profit and loss account and cash flows
Profit and loss accounts-
particulars Amount for the
year 2023
Amount for the
year 2024
To rent
To salary
To marketing expenditures
6000
15000
7500
6000
17500
10000

To advertisement
To bank charges
To depreciation
To loss on sale of assets
To miscellaneous charges
Total expenditures of the organisation
To tax management charges
To income from taxation consultancy
To income from tax planning commission
Total revenue for the year
5000
12500
7500
3200
15600
72300
56000
25000
18000
99000
5600
15000
7800
2500
20000
84400
69000
30000
25000
124000
Net projected profit for the year 26700 39600
So from the above profit and loss statement it has been identified that organization is
capable to form future plan more effectively and backsliding good amount in profits (Talim,
2019).
Cash flow forecasting-
2023 2024
Cash flows from operating activities for the
year
Net Income form business
Adjustments pertaining to operating activities-
Depreciation and amortization
Loss on sale of equipment
Changes in current assets and liabilities-
Increase in current assets
Decrease in current liabilities
Net cash provided by operating activities
Cash flows from investing activities
Capital expenditures of the organisation
Lease expenditures for the year
Amount generated from sale of equipment
26700
7500
3200
-520
2000
38880
-
-300
-
39600
7800
2500
-600
2500
51800
-
-2500
-

Net cash used for investing activities
Cash flows from financing activities
Amount generated from issuing debentures
Dividends paid to stockholders
Net cash provided by financing activities
Net increase in cash during the year
Cash at the beginning of the year
Cash at the end of the year
-300
9000
-
9000
19000
144880
-2500
-
-
144880
194180
From the above projected cash flow it has been identified that company is having better
control towards its cash flows, and business idea is feasible.
BEP
BEP is also known as break even point, for particular investment it is determined with
comparison of market price of asset to original cost so break even is reached when two prices are
tended to be equal. BEP indicates the point of sales in which business experience standing
position in which it shows no profit and not loss. Organization is capable to have innovative idea
and BEP would be in lower extent for the same. With the aid of profit and loss account it can be
said that most of the profits will be formed in first year of operations.
Sources for funding to grow business opportunities
Companies tend sources of funding to grow business to higher extent and it is also known
as financing representing as form of contribution of resources to finance program or project. In
similar way the fund for the firm will be formulated by self investments as such 50 percent of
required funds would be obtained with savings so that there will be pressure to pay any return
from the starting (Beaumont, 2019). The remaining amount will be organized from debt capital
by obtaining debt financing form bank loans. Company will initiate debt issues will be borrowers
as securities will be exchanged for cash as need to perform certain business activities. These
funds are most effective source for business at the present moment. Also, debentures are
considered to be the cheapest sources of funding.

Planning for obtaining resources
In the business start-up it is essential to have both tangible as well as intangible resources,
in similar terms business has well articulated plan in which risk, troubles and feasibility are some
factors which can be taken into consideration. The tangible assets for business would be
computers, furnitures, etc. will be hired at second hand and remaining resources such as
software's or stationary purchased as new.
Intangible resources for business would be generating evident and there is no need to buy
goodwill as it would be considered after year of beginning. Also, it can be said that after first
year it may think about collaboration to have goodwill (Yasin and Hafeez, 2018). So these are
the essential tangible and intangible resources for business for making effective investments in
business successful measures.
The initial cost for business is around £2089500 and breakdown of start up cost are as follows-
Particulars amount
Charges for first certificate 500000
Evident fees 750000
Cost for purchasing computer, furniture 55500
Exploratory expenses 20000
Marketing cost 70000
Market research cost 100000
Expenditure for installing MIS 240000
Purchasing new tools and software 160000
Business commencement aligned with some other cost 14000
Cash in hand 180000
Total cost 2089500
Type of organization and management systems
Management information systems is the process that is useful for having strong internal
control having possibility with powerful management system. It is tax management organization
as such there is basic fundamental need to have it (Page, 2021). Organization would be utilizing
Microsoft dynamic 365 as such it is specific tool which is required to manage accounting
procedures and other aspects. Data books of company will be managed online as making it most

significant for operating and getting through various information. Moreover, internal audit
system is to be incorporated for management of internal control as regard with self-directed team
of internal audit would be invented to give direct report to upper management.
Vision for business idea
 It drives customer attention toward growth measures.
 It plays crucial role towards successful concern of new venture.
 It specifies the activity customers are responsible to conduct.
 Vision specifies the clear aim and objective.
 It aid to move people toward excellent performance.
CONCLUSION
In the propose business plan it has been identified business is capable to provide quality
service to customers by forming innovative ideas into existing marketplaces. Furthermore, the
suggestive measures are considered for business to manage services in most effective terms.
Overall business is able to make effective strategies in industry as such it has been identified
through key aspects such as customers and competitors. The projected profit and loss, cash flows
shows business is forming benefits in terms carrying out profits for year.

REFERENCES
Books and journals
Jones, C., Penaluna, K. and Penaluna, A., 2019. The promise of andragogy, heutagogy and
academagogy to enterprise and entrepreneurship education pedagogy. Education+
Training.
Ramsgaard, M.B., 2018. Experiential learning philosophies of enterprise and entrepreneurship
education. In Experiential learning for entrepreneurship (pp. 3-18). Palgrave
Macmillan, Cham.
Talim, B., 2019. A meaningful change in small and medium scale enterprise: Human
entrepreneurship approach. In ICSB World Conference Proceedings (pp. 1-10).
International Council for Small Business (ICSB).
Beaumont, S.L., 2019. Female enterprise and entrepreneurship in North East England, 1778-
1801 (Doctoral dissertation, Newcastle University).
Page, N., 2021. Embedding enterprise and entrepreneurship into a core final year bioscience
module.
Yasin, N. and Hafeez, K., 2018. Enterprise simulation gaming: Effective practices for assessing
student learning with SimVenture Classic and VentureBlocks. In Experiential learning
for entrepreneurship (pp. 51-69). Palgrave Macmillan, Cham.
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