Opportunity Analysis for Business Idea

This report provides an analysis of a business idea for 'The Helping Hand', a remote online-based business process outsourcing centre. It covers problem and need analysis, consumer and market analysis, internal capabilities, and commercial viability.

Opportunity
Analysis for
Business Idea

Contents
Introduction...........................................................................................................................................3
Problem and need analysis....................................................................................................................3
Consumer analysis.................................................................................................................................4
Market analysis.....................................................................................................................................5
Internal capabilities...............................................................................................................................7
Commercial viability..............................................................................................................................8
Conclusion...........................................................................................................................................10
References...........................................................................................................................................12

INTRODUCTION
For an entrepreneur, it is required to analyse several opportunities that they can grab
with the help of innovative ideas (Davidsson, P., 2015). In order to have a specific view and
prepare plans accordingly, incentive analysis applies to the establishment of demand and
competition analysis and the study of business conditions. The objective of a business idea
should base on providing desire services to customers after analysing their requirements and
needs. This report is based on a business idea of ‘The Helping Hand’ which is a remote
online-based business process outsourcing centre. Main objective of this firm is to provide
recruitment services, IT services, social media marketing, accounting as well as provide
business solutions. In this regard, this report is going to cover problem and need analysis of
firm, consumer and market analysis, evaluation of business capabilities as well as its
commercial viability.
PROBLEM AND NEED ANALYSIS
A business idea always requires to base on specific objective by which an
organisation wants to solve issues of their customers. In this regard, it is needed to evaluate
customer’s requirements and need as well as major issues of them. Through this, the
examination of opportunities is the method of finding and exploring circumstances of sales
growth or cost savings to help prepare the company to realize improved profits, efficiencies,
business opportunity or other beneficial goals. The business idea of this report is highly
concentrated towards the issue of recruitment on the basis of individual’s potential skills and
knowledge. In this regard, the problem and need analysis of Helping Hand is based on
providing solutions of customers after analysing their business problems and recruitment
needs. This, the business is going to provide them effective consultancy to provide solution
based on legal practices, tax policies and so on. Main objectives behind such is to provide
sustainability opportunity to a firm in order to gain highly competitive advantages from target
market. Legal issues that a firm can face are:
Intellectual property issue: For a firm it is required to manage all the intellectual
property items, from the logo and motto to the colours that they use on the website to the
labels which have assigned products, and they need to be covered (Ezeogidi, 2020). Instead
that, without legal consequences, anyone wanting to re-use them, share them or claim them as

their own will do so. Thus, Helping Hand helps to consult with a firm in order to manage
their intellectual property issues effectively.
Legal issues with employees: Employees are the strongest asset of an organization,
but if they are not well handled or if the ground rules of the partnership are not set from the
very outset, they may also turn into a significant legal liability. In this regard, it is required
for each and every organisation to set ground rules related worker’s right, authorities their
participation in business practices as well as partner’s share in firm. Thus, in order to resolve
such issues of any firm, Helping hand provides their support to resolve employment issue of
any firm.
Issues related to talent hiring: one major issues which are faced by many of the
organisation is to hire correct candidates as per the requirement and need firm in order to
successfully accomplish their target objectives (Gartner, Carter and Hills, 2016). In this
regard, Helping hand provide recruitment consultancy services to their customers by
analysing their business requirements and its nature.
Accounting: Remote online based business process outsourcing centre can provide
advantage of experience and offshore the accounting and finance operations. As offshoring of
accounting and finance roles presents a tremendous incentive for cost-saving whilst
encouraging to concentrate on main market issues.
IT solution: Helping hand can provide services related to IT solutions by eliminating
the expensive responsibility of keeping up-to-date infrastructure and obtaining access to
world-class IT services from a team of IT specialists. They can serve strategic advantage and
reduce the costs dramatically with the superior IT outsourcing services.
CONSUMER ANALYSIS
Business process outsourcing works effectively in the Australia and different
countries. A core component of BPO is collaboration as well as communication tools which
allowing screen sharing between remote employees and equal local staff. Collaboration
between apps, allowing both users to access the same data in real time, is a big advantage of a
screen sharing program. This technology also helps the company to effectively invest in
training to teach and explain organizational procedures to remote workers. They also play
outsource roles like customer support and call service (Palepu and et.al., 2020). In addition, a
virtual offshore team will seamlessly collaborate through instant interconnection. In the

global market, there is a specific requirement of outsourcing services because its works as a
tasks or procedures with a view to cost optimization, increasing ability to scale up according
to market needs and re-focusing on main business activities. The main customers of such
organisations could be Software and IT solution companies, small and new ventures,
management firms and so on. To these organisations, Helping hand can provide their
supporting services by analysing potential requirements of the firm for the effective
sustainability. The employing services of such BPO firms in Australia save on investing in
fixed assets as well as major costs in order to redirect these funds in core business activities.
In the current market scenario, most of the multinational organisations collaborate directly
with the remote online-based business process outsourcing centre in order to take desired
solution for their business problems. Customers of these BPO’s are the companies for which
they are hiring remote workers in serving appropriate services as well as business solutions.
Thus, the requirement of such services in the global market are increasing high which
associate with the high market demand. The industry type customers of Helping hand could
be government, financial cooperation, manufacturing, retailing firms, communication and so
on. Firm can develop a direct connection in such industry types by investing quality services
and desired solutions on timely basis.
MARKET ANALYSIS
Outsourcing of corporate processes refers to contracting out or managing certain
business operations to a third-party supplier (Bell and et.al., 2016. ). Offshore outsourcing
facilities can be used to minimize labour costs as well as are more often used to help the pre-
existing business structure and supplement it. Market of such services includes a global and
international level in which an organisation can serve effectively with the help of potential
communication sources. Outsourcing basically analyse corporate operations and provide
business solution to better fulfill business objectives and generate higher efficiency
performance. Options to outsource the company operations are not only domestic remote
hiring, but also offshore staffing.

On the basis of above graphical representation it has been summarised that the BPO industry
offers its service across various end-use industries such as BFSI, healthcare, manufacturing,
IT and telecommunications, retail, and others. The share of market in the outsourcing
determine growth of IT companies and rapid industrialization across the globe (Song and
et.al., 2017). In this context, government of each and every com country also provides their
effective contribution by encouraging other sectors at the same time such as healthcare,
banking, retail in order to boost the investment opportunities for effective market growth. All
these business development practices are based on evaluation of global level remote online-
based business process outsourcing and its global expansion.

From the above graphical representation it has been analysed that the growth of
business process outsourcing increases rapidly and there are certain possibility of it’s to
enhance potential market share at desired level. The five biggest BPO markets within the
APAC region will be China, Japan, India, Australia and South Korea, accounting for more
than 80 percent of the global market share by 2023. The forecast notes that during the
forecast period, the Human Resources BPO segment is set to rise at a CAGR of 15% as well
as it continues to be the largest segment with a 32% share in the region's overall BPO market.
All these practices determines effective growth in the business process outsourcing
which enhance opportunities for the new business ideas of entrepreneurs (Aparicio, Urbano
and Audretsch, 2016). Enterprises along with business partners might collaborate to establish
mutual service centre for their effective business suitability in more appropriate manner.
INTERNAL CAPABILITIES
Business process outsourcing provides effective services to the customers by
analysing their requirements and needs for their effective business growth. The services of
this can fall in the category of Information technology, accounting, retailing, recruitments,
legal and so on. They offers consultancy to the business in order to resolve its issues and
provide effective sustainability in competitive market. Other kinds of jobs, including
production processes, human resources activities and financial roles such as bookkeeping and
payroll processing, may also be outsourced. In this, the new idea of Helping Hand is a remote
online-based business process outsourcing centre. The major capability of this business is:
Managed services: Managed services operate under the larger umbrella of business
process outsourcing, a type of BPO that encompasses the outsourcing of facilities rather than
tasks (Cantù, 2017). To support fields such as corporate operations, company facilities, and
executive hospitality, a managed services model can be used.
Offshore outsourcing: Organizations who want even higher efficiencies on their non-
core processes can consider outsourcing them, not only to an external vendor, but to one that
provides favourable exchange rates for offshore sourcing capabilities. Some of the countries
such as the Philippines, South Africa and Australia all have well-educated English-speaking
staff who, without the high labour costs, can provide BPO services.
Skilled and capable employees for business consultation: In order to provide
effective services to clients, organisation have skilled and capable employees who have

appropriate knowledge to serve according to their customer’s requirements and need. These
kind of practices will help Helping Hand to serve effectively among their competitors and
gain highly competitive advantages. These skills and capabilities includes effective
communication, co-ordinations, and clients handling tactics and so on.
Communication tools: In business process outsourcing, it is required for organisation
to have skilled employees who have communication tactics in order to coordinate properly
with their clients. These kind of practices will help in resolving issues of clients as well as in
providing them effective services on the basis of their requirements and needs.
All these business practices will aid Helping hand to manage their business effectively
in different countries. In this process, one major think that business may requires to consider
is to evaluate the requirements and issues of business in order to providing them effective
services according to their need.
COMMERCIAL VIABILITY
While the most emphasized USP of BPOs is cost-effectiveness, outsourcing has
helped organizations streamline, for many brands it has influenced the consumer experience
and has contributed to an organization's overall performance (Shane and Nicolaou, 2015).
Prelaunch cash budget of firm
Month Pre-Start month 1 month 2 month 3 month 4
INCOME
Cash Sales 18,000.00 20,070.00 22,378.05 24,951.53
Credit Sales 8,500.00 9,477.50 10,567.41 11,782.66
Business Loans 1,00,000.00
Income from other sources 5,500.00 6,132.50 6,837.74 7,624.08
Opening balance 0.00
Total £1,32,000.00 £35,680.00 £39,783.20 £44,358.27
Cash Purchases 10,500.00 9,500.00 9,900.00 9,300.00

Stock 4,700.00 4,700.00 4,700.00 4,700.00
Drawings 1,300.00 1,450.00 1,990.00 850.00
Wages/Sub Con. 6,000.00 6,500.00 6,800.00 6,900.00
Rent 6,500.00 6,500.00 6,500.00 7,000.00
Rates 850.00 870.00 920.00 910.00
Light/Heat/Power 1,050.00 1,050.00 1,050.00 1,050.00
Telephone / Mobile / Broadband 250.00 250.00 250.00 300.00
Stationery & Post 250.00 250.00 250.00 300.00
Insurance PL 3,500.00
Advertising & Marketing 750.00 750.00 750.00 800.00
Repairs/Renewable 1,120.00 1,120.00 1,120.00 1,120.00
Motor & Travel 3,700.00 3,700.00 3,700.00 4,000.00
Consumables- 1,100.00 1,265.00 1,454.75 1,672.96
Accountancy 4,500.00 4,500.00 4,500.00 4,500.00
Loan Repayments 4,000.00 4,000.00 4,000.00 4,000.00
Miscellaneous 90.00 100.00 80.00 120.00
Tools & Equipment (Capital Items) 95,000.00
Total £1,41,660.00 £46,505.00 £51,464.75 £47,522.96
Surplus/Deficit £0.00 -£9,660.00
-
£10,825.00 -£11,681.55 -£3,164.69
Balance @ Start £0.00 £0.00 -£9,660.00 -£20,485.00 -£32,166.55
Balance @ End £0.00 -£9,660.00
-
£20,485.00 -£32,166.55 -£35,331.24
month 5 month 6 month 7 month 8 month 9 month 10 month 11 month 12 Total
27,820.95
31,020.3
6 34,587.70
38,565.2
9 43,000.30 47,945.33 53,459.04 59,606.83 4,21,405.38
13,137.67 14,648.5 16,333.08 18,211.3 20,305.70 22,640.85 25,244.55 28,147.67 1,98,996.98

0 9
1,00,000.00
8,500.85 9,478.44 10,568.46
11,783.8
4 13,138.98 14,649.96 16,334.71 18,213.20 1,28,762.75
0.00
0.00
£49,459.4
7
£55,147.
31
£61,489.2
5
£68,560.
51
£76,444.9
7
£85,236.1
4 £95,038.30
£1,05,967.7
0
£8,49,165.1
2
8,300.00 47,500.00
4,700.00 23,500.00
1,750.00 7,340.00
7,200.00 7,100.00 7,900.00 7,800.00 7,450.00 8,300.00 7,150.00 8,200.00 87,300.00
7,000.00 7,000.00 7,500.00 7,500.00 7,500.00 8,000.00 8,000.00 8,000.00 87,000.00
820.00 800.00 800.00 800.00 950.00 950.00 1,000.00 1,150.00 10,820.00
1,250.00 1,150.00 1,150.00 1,240.00 1,450.00 1,450.00 1,800.00 1,900.00 15,590.00
300.00 450.00 450.00 300.00 250.00 200.00 400.00 200.00 3,600.00
300.00 300.00 350.00 350.00 350.00 400.00 400.00 400.00 3,900.00
3,500.00 3,500.00 10,500.00
800.00 800.00 950.00 950.00 950.00 1,000.00 1,000.00 1,000.00 10,500.00
1,120.00 1,120.00 1,120.00 1,120.00 1,120.00 1,200.00 1,200.00 1,200.00 13,680.00
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 47,100.00
1,923.91 2,212.49 2,544.37 2,926.02 3,364.93 3,869.66 4,450.11 5,117.63 31,901.83
4,500.00 4,500.00 4,500.00 4,500.00 4,500.00 4,500.00 4,500.00 4,500.00 54,000.00
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 48,000.00
140.00 200.00 120.00 150.00 190.00 150.00 150.00 200.00 1,690.00
10,000.00 1,05,000.00
£48,103.9
1
£33,632.
49
£48,884.3
7
£35,636.
02
£36,074.9
3
£41,519.6
6 £38,050.11 £39,867.63
£6,08,921.8
3
£1,355.56 £21,514. £12,604.8 £32,924. £40,370.0 £43,716.4 £56,988.18 £66,100.07 £2,40,243.2

81 8 49 5 8 8
-
£35,331.2
4
-
£33,975.
68
-
£12,460.8
7 £144.01
£33,068.5
0
£73,438.5
5
£1,17,155.0
3
£1,74,143.2
1
-
£33,975.6
8
-
£12,460.
87 £144.01
£33,068.
50
£73,438.5
5
£1,17,155.
03
£1,74,143.2
1
£2,40,243.2
8
CONCLUSION
On the basis of above report it has been summarised that it is required for an
organisation to appropriately evaluate their target objectives and visions in order to develop
effective strategic direction according to them. These kind of practices will assist in grabbing
desired opportunities by serving appropriate services in the market. In this process, an
analysis of customer’s requirement and need play an essential role that may help in serving
appropriate services to them. Thus, it is needed for entrepreneur to initiate an idea by
analysing market requirement and needs. Because through this, they can reach easily to target
customer by taking participation in their problem solving practices.

REFERENCES
Books & Journals
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conceptualization. Journal of business venturing. 30(5). pp.674-695.
Ezeogidi, C., 2020. Business Opportunity Evaluation for Economic Growth. Available at
SSRN 3563510.
Gartner, W.B., Carter, N.M. and Hills, G.E., 2016. 7. The language of opportunity
1. Entrepreneurship as Organizing: Selected Papers of William B. Gartner. p.218.
Palepu, K.G. and et.al., 2020. Business analysis and valuation: Using financial statements.
Cengage AU.
Bell, R. and et.al., 2016. An enterprise opportunity for entrepreneurial students: student
enterprise development and experience assessed through the student
voice. Education+ Training.
Song, G. and et.al., 2017. The effects of network reliance on opportunity recognition: A
moderated mediation model of knowledge acquisition and entrepreneurial
orientation. Technological Forecasting and Social Change. 117. pp.98-107.
Aparicio, S., Urbano, D. and Audretsch, D., 2016. Institutional factors, opportunity
entrepreneurship and economic growth: Panel data evidence. Technological
forecasting and social change. 102. pp.45-61.
Cantù, C., 2017. Entrepreneurial knowledge spillovers: discovering opportunities through
understanding mediated spatial relationships. Industrial Marketing Management. 61.
pp.30-42.
Shane, S. and Nicolaou, N., 2015. Creative personality, opportunity recognition and the
tendency to start businesses: A study of their genetic predispositions. Journal of
Business Venturing. 30(3). pp.407-419.