Ante Shop Business Plan: Entrepreneurship & Market Analysis

This assignment presents a business plan for Ante Shop, a Singapore-based concept store, focusing on expanding its business through a new clothing store venture. The plan includes an analysis of innovation sources and barriers, emphasizing the importance of adapting to consumer needs and market changes. It details the company's background, its existing product range, and the proposed new business venture, which focuses on eco-friendly and reusable clothing materials. The plan incorporates a PESTLE analysis to evaluate the political, economic, social, technological, legal, and environmental factors influencing the business. Additionally, it addresses the potential for innovation in bag design with enhanced security features and environmentally friendly materials. The business plan is designed to support the company's growth and development and potentially secure business loans. Desklib provides access to this and other solved assignments to aid students in their studies.

ENTREPRENEURSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Sources of innovation and barriers to innovation.......................................................................3
TASK 2............................................................................................................................................5
Business plan...............................................................................................................................5
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Entrepreneurship is being defined as the activity through which a new business or venture
can be set up by taking up all the financial risk and the profit. This is being defined as the
creation or extraction relating to the value of the business. the present study is based on Ante
shop which is the best concept store in Singapore involving all the products necessary for the
lifestyle. The company provides for a variety of product and services which attracts the
consumer towards the company. the current study will outline the different sources of innovation
along with barriers to innovation. In the end the business plan relating to open a new clothes
store will be made for the growth and development of the company for taking business loan.
TASK 1
Sources of innovation and barriers to innovation
Background of Ante shop
The company is a best concept store in Singapore which deals in a wide variety of the
product and services. This involves a wide range of products like jewellery, different gadgets,
eyewear, watches, bags, wallets, health and wellness products and many other products. All the
product and services are beautifully designed and relates to top quality product and luxury
brands.
Innovation sources by company
Innovation is being defined as bringing of something new and innovative relating to the
product or the service in which company is dealing. Hence, for the success of the company
depends on the fact that how well the company is innovating. The different sources of innovation
for Ante Shop is as follows-
 The unexpected- this is the major source of innovation because of the reason that the
business operates in the dynamic environment and there can be any time any change
taking place. Hence, this can assist Ante Shop in creating some innovation for attracting
the consumer towards the company (The 7 sources of innovative opportunity, 2021).
 The incongruity- this is yet another source of innovation helpful for Ante Shop to
innovate in proper and effective manner. Under this type of source, the discrepancy
between the fact that what is present and what must be there is being identified. Hence,

when Ante Shop will try to find the difference between the what is present and what need
to be made then company will bring innovation.
 Change in perception and need of consumer- this is another source of innovation for Ante
Shop as when there will be a change within the need of consumer then this will provide
new idea to the company for meeting the needs of the consumers (Aldrich, 2017).
 Industry and market structure changes- this is another major source of innovation which
is available for Ante Shop for innovating in proper and effective manner. This is
particularly because of the reason that there are many different changes being taking
place within the industry and market structure and this can provide for different
innovative ideas to the company for expanding their business.
Barriers to innovation
With the above analysis it is clear that the innovation is very important for the company
to get successful. Hence, there are many different barriers which can restrict the company Ante
Shop in doing innovation and producing some or the other new ideas. These barriers for Ante
Shop are as follow-
 Fear- this is the biggest barrier which can restrict the company in innovating. This is
particularly because of the reason that when the new ideas are brought then there are
possibility of company fearing that whether the product will get successful or not. Hence,
this can cause problem for the company and they might not be in position to innovate.
 Lack of focus- this can also be a major threat or barrier in innovation as if the focus of the
company will not be good and clear then there is possibility that company will not
innovate in proper and effective manner.
 Lack of resources- this can also pose a barrier for Ante Shop in innovating in proper and
effective manner. This is particularly because of the reason that when the resources are
not available to the company then they will not be in position to innovate in proper and
effective manner.
 Lack of required skills- this can also restrict the company in innovating in proper and
effective manner. This is pertaining to the fact that when the skills are not present in the
employees then they will not be in position to innovate new product or services (Ács and
et.al., 2017). Thus, for Ante Shop to bring some innovation it is very important that they

undertake and possess all the required skills so that innovation can take place in proper
and effective manner.
Recommendation for improving innovation
With the above evaluation it is clear that the innovation is very important for the business
to have as it will assist in proper and effective development of the business (Doern, Williams and
Vorley, 2019). hence, for this it is essential for Ante Shop that they try to overcome all the
barrier and innovate in proper and effective manner. Thus, some of the recommendations are as
follows-
 The first and foremost thing to be undertaken by Ante Shop for improving the innovative
culture among employees it to foster communication. This is particularly because of the
reason that when the communication will be clear then the employees will know that how
well they have to work.
 In addition to this it is advisable to Ante Shop that they must empower the employees that
is value the employees and their suggestion within the business. This is pertaining to the
fact that when the employees will be having power and provide good ideas then this will
boost their morale and will share good and innovative ideas. Thus, this is also a good
suggestion for improving and creating an innovative culture wiring the company.
 Moreover, it is suggested to the company that they must continuously research within the
market so that they can have knowledge and access of each and every change taking
place within the external environment (de Oliveira, Gentile-Lüdecke and Figueira, 2021).
Hence, by using all the different sources of innovation it is possible for the company that they
will be in position to attain and bring new innovation which will be liked by the consumers.
Thus, as a result of this the company will grow and develop in proper and effective manner.
TASK 2
Business plan
Executive summary
For expansion of the business innovation is the most essential aspect and for this Ante
Shop is planning to open a new clothes store. Hence the major product focused will be of clothes
which will not harm the environment and can be reused.
Background of company

The company Ante Shop was born out of a passion for the style, quality and the beautiful
design. The product variety of the company involves a wide range of products such as gadgets,
accessories, bags, watches, health and wellness products, every day essential and many other
product and services. The product and services of Ante Shop are high quality and these can’t be
found anywhere else. In addition to this, all these product and services provides for better
experience, fit and comfort which attracts the consumers to a great extent.
New business venture
With respect to the changes within the market and the business environment there are
many different types of changes being taking place. Hence, with the help of the market analysis
it was evaluated that the major change within the need or perception of the consumer is related is
the clothes segment (Audretsch and Moog, 2020). Hence, opening a clothes store will be more
profitable to the company. this is particularly because of the reason that the company is already
dealing in products like the bags, eyewear and many other. Hence, along with this if the clothes
will also provide to consumers then this will attract the consumer in large numbers. Thus, this
will be a good business innovation and opportunity for Ante Shop to grow and develop. In
addition to this another innovation which Ante Shop is thinking of bringing is the use of material
for the dress which will not harm the consumer. In addition to this it will also be ensured that the
material which is being used by the company environment friendly. Along with it will be ensured
that the material which they are using must be recyclable and reusable so that it can be used in
future as well.
In addition to this another major innovation or the new business venture which Ante Shop
is planning is with the bags and related products. This is pertaining to the fact that there is not
any security system with the bags in order to keep the belonging of the person safe. Hence, Ante
Shop is planning to bring in such type of bags which will be having a security system installed
within the bags and clutches of the company. in addition to this the another major innovation
which Ante Shop is focusing is on the use of material which is environmental friendly for the
bags and other related products. This is particularly because of the reason that currently the
consumers have become more conscious relating to the use protection of the environment and the
society in which they live (Duarte and et.al., 2017). Hence, this can also result into a good
innovation that is relating to the material being used in bags. Thus, when the material will be

good and not harming the environment then this will attract a large number of buyers. Hence, as
a result of this the sales and popularity of the company will increase.
Market analysis
Before opening a new business venture it is very essential for Ante Shop that they must
conduct a market analysis. This is necessary as with help of the market analysis the company
will come to know the trends and perception of the consumers in the current market. Hence, for
this the use of PESTLE analysis is being undertaken which is as follows-
Element Description
Political factor This involves all the changes being taking
place within the political and government
sector. Currently the tax rates are low with
respect to the current pandemic (Quirapas,
Aboagye-Gyan and Gul, 2018). Hence, this
will create a positive impact if Ante Shop is
opening the clothes store as they will have to
pay less of the taxes and this will save the
profit of company for further development.
Economic factor This includes all the changes taking place
within the economic condition of the country.
Currently the purchasing power of the
consumer has increased and as a result of this
they will shift towards the use of luxury and
good quality goods. Thus, as a result of this, it
will create a positive impact over the sales of
the new clothes store.
Social factor Social factor involves the changes within the
need, preference and requirement of the
consumers. Currently the consumer has
become environment conscious and the new
concept of clothes store with good quality
material which is reusable and environment

friendly will definitely create a positive impact
over the business venture.
Technological factor In the current modern and advance world there
are many different technology and the use of
this will create a positive impact over the
working of Ante Shop. This is particularly
because of the reason that use of different
technology will improve the working condition
of the company and the new business venture.
Legal factor For the success of new clothes store by Ante
Shop it is very important to have proper
compliance with all the rules and regulations
(Das and et.al., 2018). Hence, this will create a
good image of the company within the eyes of
the consumer which will result in attracting
large number of the consumers.
Environment factor This is also very important for the reason that
if the environment will not be protected and
taken care of by company then consumer will
not like it. Hence, the new clothes store having
a focus on environment friendly materials will
definitely attract the consumers.
Marketing and sales strategies
Element Description
Product The product involves the opening of a new
venture specifically dealing in the clothes
segment. This is undertaken as this will attract
a large number of people towards the company.
Price The use of penetration pricing strategy will be
undertaken by the company. this is pertaining

to the fact that when the company will start
with by low price then this will attract large
number of consumers.
Place For opening a clothes store Ante Shop will
undertake the use of both online and physical
store (Demircioglu, Audretsch and Slaper,
2019).
Promotion For the purpose pf promotion of the clothes
store a major focus will be laid on the social
media marketing and the digital marketing
tools.
Sales strategy
 Under this the major sales strategy of Ante Shop is as follows-
 Provide 30 % discount to first 30 customers, 20 % discount to next 20 consumer and 10
% discount to next 10 consumers.
 In addition to this loyalty scheme will be provided to the consumer who are frequently
shopping with Ante Shop.
 Furthermore, an additional 10% discount will be provided for referrals to other people.
Services or product line
The major service or the product line will be online website of the company through
which the consumer can buy the clothes online as well. In addition to this the physical stores will
be made for providing the product and services available to the consumers.
Discussion on firm and management
The organizational structure being implemented within clothes segment of Ante Shop is
hierarchical structure. This is pertaining to the fact that under this method the employees know
that the employees will get direction from whom and where they will have to report.
Funding request
The funding is the most essential aspect for the success of the business. this is pertaining
to the fact that without finance the company cannot function. Hence, the key funding
requirement for starting up the business are as follows-

Activity Cost
Research and development 5450
Marketing 6500
Technological aspect 2550
Human resource 7500
IT infrastructure 3500
Place for office 4500
Total 30000
Discussion on financial projections
Parti
cular
Janu
ary
Febr
uary
marc
h
Apri
l may June July
Augus
t
Septe
mber
Octob
er
Nove
mber
Dece
mber
Cash
inflo
ws
OP
cash
flow 3500
3365
0
6415
0
6740
0
6990
0
6140
0 52150 44150 37000 37900 37400
3280
0
reve
nue
5050
0
5500
0
3575
0
3000
0
2250
0
2000
0 19000 22000 25000 24500 23455
2456
0
other
cash
inflo
w
sour
ces
2100
0
2000
0
1000
0
2000
0
1000
0 9000 9500 8000 10000 8500 7500 2740
Tota
l
cash
inflo
w
7500
0
1086
50
1099
00
1174
00
1024
00
9040
0 80650 74150 72000 70900 68355
6010
0
Cash
outfl
ow
Mate
rial
2200
0
2500
0
2200
0
2575
0
2000
0
1850
0 18000 17500 16550 17850 18555
2000
0
Labo 7850 9000 8500 9250 1000 9500 9000 10000 8550 7150 6500 5500

r 0
Adm
inistr
ative
and
selli
ng 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000
Othe
rs 6500 5500 7000 7500 6000 5250 4500 4650 4000 3500 5500 7500
Tota
l
cash
outfl
ow
4135
0
4450
0
4250
0
4750
0
4100
0
3825
0 36500 37150 34100 33500 35555
3800
0
Surp
lus
or
defic
it
3365
0
6415
0
6740
0
6990
0
6140
0
5215
0 44150 37000 37900 37400 32800
2210
0
CONCLUSION
In the end it is concluded that entrepreneurship is being defined as the act of starting the
business by taking up all the risk and earning the profits. The above report evaluated the fact that
there are different types of innovation source like need, changes in need of consumer and many
others. Along with this it was identified that there are also some of the barriers like fear, less
skills and many others. In the end the business plan was made in order open a new business
venture.

REFERENCES
Books and Journals
Ács, Z.J., and et.al., 2017. The global entrepreneurship index 2018. Washington, DC: The
Global Entrepreneurship and Development Institute, pp.72-88.
Aldrich, H., 2017. Learning together: National differences in entrepreneurship research. The
Blackwell handbook of entrepreneurship, pp.5-25.
Audretsch, D.B. and Moog, P., 2020. Democracy and entrepreneurship. Entrepreneurship Theory
and Practice, p.1042258720943307.
Das, P., and et.al., 2018. Barriers to innovation within large financial services firms: An in-depth
study into disruptive and radical innovation projects at a bank. European Journal of
Innovation Management.
de Oliveira, R.T., Gentile-Lüdecke, S. and Figueira, S., 2021. Barriers to innovation and
innovation performance: the mediating role of external knowledge search in emerging
economies. Small Business Economics, pp.1-22.
Demircioglu, M.A., Audretsch, D.B. and Slaper, T.F., 2019. Sources of innovation and
innovation type: firm-level evidence from the United States. Industrial and Corporate
Change, 28(6), pp.1365-1379.
Doern, R., Williams, N. and Vorley, T., 2019. Special issue on entrepreneurship and crises:
business as usual? An introduction and review of the literature. Entrepreneurship &
Regional Development, 31(5-6), pp.400-412.
Duarte, F.A., and et.al., 2017. Barriers to innovation activities as determinants of ongoing
activities or abandoned. International Journal of Innovation Science.
Quirapas, M.A.J.R., Aboagye-Gyan, R. and Gul, M.F., 2018. Sources, drivers and barriers of
innovation in Singapore’s Electronic Road Pricing. Asian Journal of Public Affairs, 11(1),
p.e3.
Online
The 7 sources of innovative opportunity. 2021. [Online]. Available through: <
http://www.incrementalinnovation.com/innovation-management-development/7-sources-
innovative-opportunity>