Entrepreneurship: Developing a PCR COVID-19 Testing Business Plan

This report outlines an entrepreneurship development plan focused on establishing a PCR COVID-19 testing business. It emphasizes enhancing entrepreneurial skills and knowledge through strategic planning, financial forecasting, and risk management. The business aims to provide affordable PCR testing services by strategically placing testing facilities and collection points, targeting individuals and businesses needing travel certifications. The report covers key aspects such as the customer value proposition, lean business opportunities, the CFO's role in financial management and business growth, and a detailed financial plan including cost structure, revenue streams, and cash flow analysis. The ultimate goal is to contribute to public health by facilitating widespread testing while creating a profitable and sustainable business venture.

Entrepreneurship
Development

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 any business there is a position of CFO that helps business
in develop structure of complex process and achieve financial success in company.

Business Idea
Currently, due to spread of COVID-19 pandemic, the demand for testing is
present. In Europe and most of the countries, a negative test is needed to
travel and to prevent isolation. The testing for kids, business travel or
pleasure travel can not be made by National Health Services for free,
without symptoms. So, providing PCR testing services by placing the PCR
machine in cheaper letting area and developing sample collection points,
provides opportunities for such business to resolve this issue and make
people able to get their COVID-19 test done. Another benefit is that it
provides fully accepted results and is cheapest one. 10 EU countries were
requesting Covid 19negative test before entering, as of July 2020. Schengen
Visa Info/EU/Schengen (2020).

Why PCR machines for COVID detection
Through PCR Machine, the business will assist government to test huge people and
help them to cure with the pandemic virus

Creative Process of Business Idea and Minimum Viable
Product
The real time PCR machine will be bought by the
business and it will be placed in cheaper letting area in
order to provide PCR testing services to everyone who
needs it. The sample collection points will be created in
key points. A premium pack will be planed for big
businesses that need repeated tests for travel, with
schedule. The business will provide recognized
medical result paper for travel, for people towards
preventing the isolation.

Customer value proposition Canvas
 It is the tool which states that goods and services is positioned in such a way of the customer needs and
values. In the business plan, through this model, customer profile and value map is easily identified. For
the business idea of PCR machines for COVID detection, customer value proposition canvas is as follows:

Lean Business Opportunity
 In the business plan, it is the very important model used by the owner for creating the business Canvas model.
Lean business opportunity for PCR machines for COVID detection will assist the entrepreneur to manage
strategy, align strategy with tactics and allot resources effectively.

C-level specialist contribution
 The CFO as a commercial manager that plays vital role in growing start-up. The contribution of
CFO in this machine business beyond managing its finance. Being a CFO of business that is, it is
my prime responsibility to plan, execute, manage and run of all kinds of finance practices of the
venture that comprises business planning, forecasting, negotiations and budgeting. Also, CFO of
the company is responsible for growth of the business, form new relationships with clients,
establish overall financial plan, reporting and manage cost as it can provide it into market with
cheaper price.

Financial and Financial plan
 Financial plan refers to planning, organising and managing money for making strategies and future income.
Firms makes its financial plan that includes its cost structure, revenue stream, break even point, cash flow
analysis and fund flow statement for its financial activities for the year 2020, 2021 and 2022. According to its
cost structure it includes some cost for three years that a company has to bear these includes variable costs
such as salary of employees, advertisement, rent of the building and fixed costs such as cost of material,
machines etc. In revenues stream it makes plan that it incurs profits from sales of machine, online selling,
advances from clients, further developments.

Summary
 From the above report it is about entrepreneurship development, 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 firm to increase its
productivity that leads to increase in profitability. It is about a business plan that is related to
COVID machines for testing in cheaper price and after recovering it sale it.

References
 Al-Malkawi, H. A. N. and Javaid, S., 2018. Corporate social responsibility and financial performance in
Saudi Arabia.Managerial Finance.
 Ariffin, A. S., Baqutayan, S. M. S. and Mahdzir, A. M., 2018. Enhancing women entrepreneurship
development framework: Policy & institution gap and challenges in the case of Malaysia. Journal of Science,
Technology and Innovation Policy. 3(2).
 Baporikar, N., 2017. Cluster Approach for Entrepreneurship Development in India. International Journal of
Asian Business and Information Management (IJABIM). 8(2). pp.46-61.
 Bilbao-Terol, A. and et.al., 2019. Integrating corporate social responsibility and financial
performance.Management Decision.
 Golkar Fard, M., 2019. Relationship between entrepreneurship and empowerment dimensions of rural women in Fars
province. Journal of Entreneurship and Agriculture.6(11). pp.1-10.

Appendices
 Cost structure:
 Revenue stream:

Continue…
 Cash Flow Analysis
 Sources of Finance
