Entrepreneurship Development and the Role of CFO in a PCR Machine Business

Entrepreneurship
Development CTO

Table of Contents
INTRODUCTION...........................................................................................................................3
STEP 2.............................................................................................................................................4
Lean business opportunity...........................................................................................................4
STEP 3.............................................................................................................................................7
STEP NO. 4.....................................................................................................................................9
STEP 5. FINANCIAL AND FINANCIAL PLAN........................................................................11
STEP 6. SUMMARY....................................................................................................................11
REFERENCES..............................................................................................................................13
APPENDICES...............................................................................................................................14

INTRODUCTION
Entrepreneurship development refers to enhancement in skills of entrepreneurs and
knowledge through various programs and training. The main purpose of entrepreneurs
development is to strengthen and increase the number of entrepreneurs. This process helps firm
in order to increase in productivity and profitability. Another point of this, it improve the
productivity, capacity, develop, manage and build a business that keeping in mind that risk is
related to this only. In other words, entrepreneurship development is the concept of developing
skills and advance them by training and development programs. It helps organisation, it helps
business in dynamic situation and expansion of it. It is a practice meant to improve the
entrepreneur skills among the employees. It helps organisation for better management and
productivity that leads to generate more sales and profitability (Ariffin, Baqutayan and Mahdzir,
2018).
In any business there is a position of CFO that helps business in develop structure of
complex process and achieve financial success in company. The CFO uses their financial
expertise and tools into the strategic leadership role to make business financial success and for
stakeholders. CFO has deep knowledge of business modelling, banking, how to deal with higher
authorities and sets policies and concepts for running a business. The responsibility of CFO
considers such as budgeting and forecasting, compliance issues and managing merger and
acquisition activities. The CFO has full knowledge of industry, tax and government and other
issues. This helps firm those are growing quickly and has a line of products and number of
employees (Baporikar, 2017). It can provides leadership in order to forecasting performance of
the business and insight towards funding that helps business to better utilisation of resources.
The role of CFO also includes shifting markets, advancement in technology and globalisation
and it has a right hand of CEO to grow the business. The necessary task it has to play such as
timely collection of revenue, helps CEO to managing relationships with investors and lenders, it
provides analyse into the data and offer key insights.
This business plan which is related to real time PCR machines for COVID detection
that is use in niche market, they want to provide it into cheaper price for proper test and after the
recovery of situation they resale it. Firm has such objectives related to it, firm has expected
revenues of £ 100000 in year 2020 and estimated that cost of making this machine will be 50
pounds in the year. The breakeven point of the machines in year is 1250 units in the year and

price is 62500 in pound for the first year and in second year BEP in units estimated 1780 at
206125 pound. It further increases in third year by units 2802 and in pound 181742. Cash flow of
the company expected as receipts are £ 100000 in year 2020, that will be £ 346000 and in 2022 it
will be £ 350000. It expected cash in hand £ 30000, £ 95000 and £ 120370 in year 2020, 2021
and 2022 from sources and uses it is estimated that profits will be £ 30000.
STEP 2
Lean business opportunity
In the business plan, it is the very important model used by the owner for creating the
business Canvas model. It is the one page format for brainstorming possible, there are various
blocks are made starting from the activities end with the revenue and cost stream. The main
fundamental used in this to eliminate the time, inventory and waste. Lean business opportunity
for PCR machines for COVID detection will assist the entrepreneur to manage strategy, align
strategy with tactics and allot resources effectively. It is especially designed for business owner.
In the current business plan to buy the PCR machine for the detection test of the COVID because
in the pandemic time it is very profitable business for the entrepreneur (Bilbao-Terol and et.al.,
2019).
Business canvas model for PCR machines for COVID detection: