Business Entrepreneurship Project Proposal for Monet ICT Solutions

This proposal outlines the business plan for Monet ICT Solutions, an ICT services and solutions provider. It includes information on the company's objectives, services and products, market analysis, and advertising and promotion strategies.

Running head: THE BUSINESS ENTREPRENEURSHIP PROJECT
THE BUSINESS ENTREPRENEURSHIP PROJECT
By (name)
Student number
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Professor (tutor)
Name of school (university)
Country
Date
THE BUSINESS ENTREPRENEURSHIP PROJECT
CONFIDENTIALITY AND NON-DISCLOSURE STATEMENT

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This document contains confidential information from Monet Solutions which is provided for the
sole purpose of permitting the recipient to evaluate this financial proposal submitted herewith. In
consideration of receipt of this document, the recipient agrees to maintain such information in
confidence and not to reproduce or otherwise disclose this information to any person outside the
group directly responsible for evaluation of its contents, except that there is no obligation to
maintain the confidentiality of any information which was known to the recipient prior to receipt of
such information from MONET ICT Solutions and becomes publicly known through no fault of
recipient, or is received without obligation of confidentiality from a third party owing no obligation
of confidentiality to MONET ICT Solutions
We pledge that we are guided by ethical and professional standards and values and we can’t
disclose any information about our client unless authorized by the client in writing.
EXECUTIVE SUMMARY
MONET ICT Solutions has been designed and planned after doing a thorough by a university
student as the sole proprietor of the business entity.
The incorporation of ICT in major sectors in the public service, private businesses, and educational
institutions has seen an increase in productivity and efficiency. This has also led to high demands of
technological services, equipment, and accessories.
As more and more of the population gain an interest in the competitive application of ICT, the
demand for highly professional and quality ICT related services has also increased. Based on
marketing projections this interest will further increase tremendously following the recent
declaration by the Government of Kenya to automate all her services.
To meet the expected demands for ICT services and to penetrate the market throughout the possible
regions, Monet ICT Solutions is seeking the financing necessary to start and implement its services.
The cost to be injected in the acquisition of the operating offices, equipment and manpower for the
implementation of the project are approximately Kshs. 1,343,004 If this capital is acquired, though,
marketing projections and newly targeted contracts reflect a very high percentage increase in
revenues. Monet ICT Solutions estimates profits of about Kshs. 600,000 by the end of the first year
after the injection of the capital. Monet ICT Solutions will not anticipate any cash flow problems
arising as the market base will increase.
This is an opportunity which Monet ICT Solutions cannot let go and needs the partnering of a
financier.
Objectives
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The main objectives of MONET ICT Solutions at Email premises will be to generate reasonable
profit through carrying out the following activities:-
Offering ICT services to the general public(the extended version of service Centres: i.e. Allowing
the general public apply for IDs, NHIF, NSSF, KRA PIN Certificates, Driving license renewal,
Passport, etc.)
Distributing Internet at a reasonable monthly fee to clients in the surrounding areas.
Offering support and networking services in ICT.
Supplying computers and related accessories.
Offering any other ICT services required by the clients including software development,
consultancy, and installations.
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Keys to Success
Excellence in fulfilling the services we intend to provide. Monet ICT Solutions will always be
ensuring that it responds to any call for service provision within the shortest time possible and the
product/service is delivered at the right time and in the best form.
Monet ICT Solutions is intending to set up a modern state of the art ICT center with fast computers
and commercial printers to attract the clientele around its environs.
Monet ICT Solutions will also convince her clients to go into annual/periodic contracts for
maintenance/servicing and support of ICT equipment and services. This will give Monet ICT
Solutions the best opportunity to rooster her duties and ensure that each client is attended to in a
timely manner. Periodic contracts also improve the cash flow of the company as they ensure a
regular flow of revenue within a defined time.
Developing visibility to generate new business leads. Monet ICT Solutions will apply all the
expertise within her reach to successfully invest in other businesses that will contribute to
profiteering and expansion of the current business.
COMPANY SUMMARY
Monet ICT Solutions will be a leader in the field of complete and comprehensive sharp edge ICT
Services and solutions. We will be partnering with large industries in Hardware, Software,
Networking, Internet Security, Antivirus, Backup & Disaster recovery solution offering the most
reliable ICT solutions at competitive prices.
We will also be completing business Services and this includes School management systems, Point
of Sale (POS) solutions, locally developed software, in addition to Total Hardware Services,
Configuration Design & Consultancy including (PC's, Notebooks, Servers, Storage etc...),
Networking infrastructure, IP Telephony, CCTV cameras.
Monet ICT Solutions will be a team of highly dedicated and qualified business and technical
personnel sharpen our edge in providing the most reliable and robust services to our clients. The
technical and business staff have decades of collective experience in software solutions, ICT
hardware, CCTV cameras and accessory supplies that will enable us to serve all types of clients and
answer to their needs.
Monet ICT Solutions will be an ICT solutions & services provider based on the best-of-breed ICT
solutions, established to approach the proper service quality and efficiency. The products and
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services are varied within Network design, installation & Security, Hardware repair and supplies,
Backup & Disaster Recovery, ICT services, Web Design and software development.
We will be conveniently located at Email town between Mulleys and Nakumatt supermarkets.
SERVICES AND PRODUCTS
Monet ICT Solutions will offer ICT services which include support, installation, internet
distribution, software development, repair and sale of accessories. These products and services are
required in the rapidly changing technological world where ICT is becoming the main tool for
business and solution providers. WorldNet will also operate an M-Pesa facility and other financial
agencies such as (KCB Mtaani, Co-op Kwa, and equity agent). Maximum utilization of ICT
resources plays a vital role in improving the client's productivity and quality as well as efficiency.
With the embracing of e-learning in schools, automation of government services, etc. Monet ICT
Solutions will embark on utilizing this opportunity to penetrate the emerging and existing markets.
Service Description
The extended version of Huduma Kenya Services: Monet ICT Solutions intends to offer at the
ICT centre, all the government online services that are offered through cyber cafes to the citizens of
the Republic of Kenya. These include registration of NHIF, NSSF, KRA Income tax, Tax
Compliant certificates, Driving license renewal, Passport applications, etc
Financial agency services: Because of the availability of space and customers, Monet ICT
Solutions will operate financial agency services and carry out the services of equity agents, CO-Op
agents, KCB-Mtaani Agents and any other financial services extended through agencies to
maximumly utilize the space and conducive environment at the ICT Centre premises.
Office Automation & Support: Monet ICT Solutions will continue offering a wide range of
support in the area of ICT applications. We have enough experience in the general application tools
used in the day to day running of offices. We shall also distribute internet to the already willing
clients at a reasonable monthly fee. This internet will be procured from Liquid Telkom who have a
proven experience of quality provision and stability.
Software Development: Monet ICT Solutions has an associate team of competent developers who
will listen to a client’s range of requirements and advise accordingly on the best approach to use in
the computerization of their systems. We will have in place a school management system and a POS
that will be used by some of our clients. We will involve our client in all stages of our development
cycle and we offer excellent training to the system support staff from the client’s side who will be in
charge of the system.
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Hardware Maintenance/Support: Whenever hardware support/repair is required, Monet ICT
Solutions will carry out a primary troubleshooting with an aim of solving the problem at the client’s
site. We will always involve the client in our working styles so that he is exposed. It is the
commitment of Monet ICT Solutions that any hardware repaired will improve on its thorough put.
Where it is economical for replacements, we will always advise.
Networking: Whenever computers are to be networked, Monet ICT Solutions will carry
out a feasibility study and embarks on the best network topology that will serve the client to the
maximum. Our networks will always remain under our support and we also train users on how to
manage the same.
Supplies of ICT Accessories: Monet ICT Solutions will offer supplies for a wide range of ICT
accessories, equipment, and consumables. The consumables will include items such as toners,
cartridges, stationery, etc. Accessories will include flash disks, mice, keyboards, TFT screens, etc.
while other equipment will include laptops, computers and N-computing gadgets.
Sales Literature
Monet ICT Solutions will intend to develop a general corporate brochure establishing the
positioning and the products/services available. It will also develop a content managed website that
will help in spreading her establishment online.
Fulfillment
The Key fulfillment and deliveries will be provided by the principles of the business. The real core
value is professional expertise provided by a combination of experience, hard work, and dedication.
Monet ICT Solutions will always be turning to qualified professionals for freelance back-up
whenever necessitated by the job demand. A networking of professionals is already in place and will
ensure that Monet ICT Solutions will always deliver in a timely and professional manner. In cases
of very big contract demands, Monet ICT Solutions will have friendly companies in place that can
go into a consortium to fulfill the contract requirements.
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Technology
Monet ICT Solutions will embrace the latest technology in her service provider. We are also backed
up with the historical technology to cater for clients who are still using earlier versions of the same.
We intend to set this ICT Centre to the highest professional standards and niche.
Future Services
Monet ICT Solutions will engage in putting in place an online database for all her customers and is
intending to offer some of the automation support services online. A content managed a website
where all her clients will be able to get instant solutions to some of the most common problems
encountered in the world of ICT in both multimedia and graphical presentations will be in place.
This will ensure that Monet ICT Solutions retains her old clients as she continues getting new
clients.
MARKET ANALYSIS SUMMARY
Monet ICT Solutions will focus on both corporate and individual clients and with the capital
injection, the general public will be the biggest target. Monet ICT Solutions intends to mainly target
the general public through the provision of the highly required government and other online
services. The proximity to our offices and the serene business atmosphere will surely be embraced
by the general public who will find it convenient and comfortable.
Market Segmentation
The general public, corporate bodies, institutions of learning and other government bodies will form
Monet ICT Solutions' main clients. university fraternity will be the key target as well as the
surrounding general public. Other clients will include restaurants/bars, hospitals,
supermarkets/stores, medical centers and other small businesses.
Target Market Segment Strategy
Monet ICT Solutions will continue focusing on the few customers she has as she looks at ways of
bringing new clients on board. WORLDNET will also participate in buying government tenders for
the provision of goods and services within her scope. It will also take advantage of the 30%
reservation of government tenders to special groups since she will acquire an AGPO certificate that
qualifies the company for the same. The government is one big potential client because its size is
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enormous and one successful contract will always give you a better opportunity of acquiring more
contracts.
Business Participants
At the highest level are the few well established major names in the Kenyan ICT industry. Most of
these firms are partnerships established in major markets around the country and the East African
region. Most of these companies evolved from sole proprietorships.
These companies charge very high rates for service provision and maintain relatively high overhead
structures and fulfillment structures based on partners selling and junior associates fulfilling.
At the intermediate level are some function specific or market specific firms. Such are those that
specialize in the provision of a particular product or service in ICT e.g. Training, web design, ISP
companies, Network providers, etc.
Some service providers in the ICT industry are a little more than contract expertise provided by
somebody who, while temporarily out of work, offers consulting or other ICT services.
Product/Service distribution
Monet ICT Solutions will also be working on brand names for all her software products to ensure
that they are not copyrighted and distributed to clients without her prior consultation. This will be
enforced by the right authorities in charge of software copyrights. WORLDNET will establish more
office branches in major towns depending on the market behavior. Regional branches will also be
established to ensure that service is brought close to the clients.
Advertising and Promotion
Advertising will be a key factor to the growth of Monet ICT Solutions and immediate capture of the
available new markets and openings. Monet ICT Solutions will embark on a strong advertising
campaign through the available and effective media at first. To support her continuous expansion
efforts, Monet ICT Solutions has considered using the most popular media targeting her clientele
along with promotional brochures. Because this business plan anticipates rapid growth through the
injection of the new capital, Monet ICT Solutions plans to spend at least 3 percent of her net sales
during the first year in advertising and promotions.
Based on this decision, advertising and promotional possibilities have been prioritized in order of
probable effectiveness, with estimated costs. The initial cost of advertising will be higher but
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thereafter the costs will drastically go down. It has been determined that brochures, the website, and
the Daily Nation Newspaper are the most ideal media for targeting the right clientele. An advert will
be placed on the Daily Nation Newspaper once a week for the first one month. Thereafter, more
research will be carried out to determine the effectiveness of the advertising and the way forward.
Promotional brochures will be distributed at the right places, indicating our location, products and
the services we offer. The Internet will also be used after our website has been fully constructed and
uploaded.
Main Competitors
The key element in purchase decisions made at Monet ICT Solutions client level is trust in the
professional reputation, expertise, and reliability of the service provider. The Main competitors in
the industry are a few small companies and the large most established companies. This has always
been a threat but since the market segment is so wide and due to the professional and excellent
services be offered at Monet ICT Solutions, her market share will keep on growing. The other main
competitors are the already established cyber cafe Email .and its environs. Most of these cyber are
traditional cybers geared at giving the clients an opportunity to browse and they only offer a few
extended services such as photocopying, printing and a few help in ensuring clients access the
internet comfortably.
STRATEGY AND IMPLEMENTATION SUMMARY
The primary geographical market for Monet ICT Solutions will be the at Email Town and its
environs. The whole republic of Kenya, starting from the Key towns like Nairobi, Mombasa,
Nakuru, Kisumu, Kericho, will also be future target clients for Monet ICT Solutions.
Pricing strategy
Monet ICT Solutions' products and services will be placed slightly below the upper edge of what the
market bears, competing with other well-established companies. The pricing will fit with the general
positioning of Monet ICT Solutions as providing high-level expertise and affordable services. The
pricing will also ensure that Turbo ICT Solutions realizes a good profit margin to keep the business
growing and expanding.
Monthly requirements
In her operations, Monet ICT Solutions will have to meet the purchase of stationeries and other
accessories as well as meet the cost of other expenses as shown in the table below:
Monthly expenses
Item Quantity Unit Cost Total
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(Kshs) (Kshs)
Rent, Electricity & Water bills 1 30,000 30,000
Internet & Telephony 1 40,000 40,000
Labor expenses 2 15,000 30,000
Transport 1 5,000 5,000
Stationery & Other accessories 1 40,000 40,000
Miscellaneous 1 10,000 10,000
TOTAL 155,000
THE PEST AND SWOT ANALYSIS
Strengths: The strengths that Monet ICT Solutions brings to the market are considerable. Monet
ICT Solutions will build a very excellent reputation with her current and future clients. She will
continue to take market share even from those service providers who have been in the practice for
longer periods. But the greatest strength that Monet ICT Solutions possesses is the innovative
approach it will take to service provision and delivery of other ICT services. Being a smaller
company, Monet ICT Solutions will have greater flexibility than her larger competitors to try
different products and services since it does not have to consult with senior directors to see whose
idea is best. This means that the latest breakthrough in ICT products and services will be
implemented and tested before they are even off the drawing board at other companies.
The current situation where Monet ICT Solutions plans to team up with well-known regulators and
service providers to deliver ICT services is another strength that will be used in her bid to capture
more clients.
Weaknesses: Because of her relatively small size, Monet ICT Solutions is not a common company
among big companies and international organizations. If Monet ICT Solutions gets the resources to
expand her services and products it would be possible to increase sales revenues in the lucrative
market that is made up of multinational companies, banks, international bodies who, nevertheless,
are serious about their ICT needs and want the best products and services in the market.
Monet ICT Solutions also has a substantial amount of work to do in order to obtain a large portion
of the country’s ICT market. Monet ICT Solutions will be competing with ICT companies who have
been offering services and products for multinationals since the 1980's and whose names are now
almost synonymous with ICT. Furthermore, with the Kenyan ICT environment, national loyalty
often is a factor in choosing an ICT service provider and supplier.
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Opportunities: If Monet ICT Solutions can obtain the desired financing, the opportunities are
almost limitless. Under her marketing efforts, she will make steady inroads in establishing a
presence in the Kenyan ICT market. Monet ICT Solutions' products and services will be more
innovative, affordable and user-friendly than many others from other big companies in the country
and abroad. Clearly, the market for Monet ICT Solutions products and services will be Large if the
company will acquire l the manpower, capital and enough office space to allow her staff work under
one shelf as the clients are also attended to from the closest proximity.
Following the recent declaration by his Excellency the President of the Republic of Kenya that all
the government systems are automated, Monet ICT Solutions anticipates her market share to be very
broad rapidly by about seventy-five percent and by the beginning of 2019, the market share will go
up by a very huge margin. If Monet ICT Solutions can obtain the necessary financing, it will
anticipate a steady 80 percent growth rate based on the targeted sales figures and market.
Threats: During the late nineties and in the early years of 2000, a great number of ICT companies
who had not foreseen the tremendous drop in prices of ICT products and services experienced
financial difficulty when the prices went down thereafter. As a result of these difficulties, many
companies either merged with other ICT companies or simply went out of business. For Monet ICT
Solutions, the effect will not be felt as that was the time of it’s going into business ideas.
However, this industry downturn did have a negative impact on most companies’ plans for future
expansion and development. Monet ICT Solutions is one of the few Kenyan ICT companies that
aggressively will be pursuing the ICT market.
Accordingly, to maintain a significant presence in the high-end market of the country, Monet ICT
Solutions is going to step up her marketing campaigns and offer excellent services to meet her
client’s demands.
Key Personnel
A university student is the key founder of Monet ICT solutions. After acquiring the financial
capability will employ the most acquainted personnel's in the field of ICT.
Management Summary
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The initial management will lie under the founder and the CEO with the little backup from the
technical managers and supervisors. As WORLDNET grows, additional support will be sought in
the areas of training, software development, service provision, sales/marketing and networking.
ORGANIZATIONAL STRUCTUREMonet ICT Solutions will be managed by
a very competent CEO who will have been in the ICT industry since 1991. All the other experts at
Monet ICT Solutions will be exposed to the ICT industry where they will gather enormous
expertise. The figure below shows the proposed organizational structure for Monet ICT Solutions.
Monet ICT SOLUTIONS
Organizational Structure
FOUNDER
(Director)
GENERAL
DIRECTOR
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ICT ICT ICT
Officers marketers technicians
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Management Team
Monet ICT Solutions requires a very high level of expertise in ICT and field experience. This means that it
will not be completely leverageable in the common ICT companies' mode where partners and directors run
the business and make sales, while the associates fulfill. The director and top management will necessarily
be involved in the core business proposition and providing the expertise to the clients. The current personnel
plan is still tentative and shall involve a good number of supports, technical and marketing personnel. Later
we shall add more sales and technical staff after the business has picked up fully.
FINANCIAL PLAN
Monet ICT Solutions’ financial plan has been thoroughly researched. It is based on realistic estimates and
assumptions.
Important Assumptions
While preparing this business plan, the following assumptions have been taken into considerations in all the
workings:
The rate of the Kenya shillings to the dollar is Kshs. 103.00
The Value Added Tax (VAT) rate is 25%
The Corporation Tax is 30%
All invoices for Monet ICT Solutions will pay by the clients not more than 60 days after their presentation
The country will continue being politically stable and peaceful to continue availing the already existing good
business environment.
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