Proposal for a Business Incubator Project Coursework

Proposal for a Business Incubator Project - Coursework ExampleThe project is commercially viable as a business and will form foundation for the development of new businesses and entrepreneurship. place setting There is a growing preference among the young people for self-employment with plans for future expansion through follow up and accumulated knowledge gained over the period of time in the business. The initial expenses in setting up the office for the business involve rental, purchase of office equipments and appointment of office assistant, in addition to purchase vehicle for transport in connection with the business. Many of the dreams and well conceived plans for the businesses do not see the solar day light due to lack of seed capital. The business incubator project proposed is expected to address these problems efficaciously with little investment on the part of the entrepreneur. Business problems and the concept underlying the project The project aims to earn the pro blems in raising seed capital for the businesses by the entrepreneurs. The businesses initially started by the entrepreneurs are to the highest degreely unrivaled man shows. The entrepreneurs need to plan their businesses, establish administrative facilities for the businesses and engage in commercializeing their products or services. The most consequential part in the initial stages of the business is to establish office facilities or creating an address for the business. This is important since the suppliers or service providers, the customers and otherwise agencies need to contact the people in business in somebody or send couriers or leave messages. It is also required for storage of materials like drawings, CDs and books connected with the business. Therefore, a place with easy access to customers will be useful in keeping the contacts alive for yield in business and for being abreast of the developments in the markets and technology. Costly rental, capital investment nee ded for adeptness of facilities and working capital required for maintaining the office or work place act as deterrents in start-up businesses in most of the cases. Therefore, if the problems associated with this part of the business are effectively addressed, the entrepreneurs are free to plan their other business and marketing activities without bothering about the issues related to establishment of an office. Solution to the business problems There are several(prenominal) jobs which require minimal paper work but extensive travelling in meeting the customers to apologize about the product or services. For example, CRM software for a small boutique, clubs or optical products stores keeping in tune with the changes taking place in technological front could catch up in the market in future. Sophisticated software used by the big corporations will be too high-priced to install in small businesses. This software developed by an entrepreneur might solve variant issues connected to the data management relating to small businesses. The development of software is not a problem to a software engineer. But, marketing of the software needs extensive travelling, demonstration of the product to the prospective clients needs meeting hall and the business needs an office to attend the calls of the clients and receive the couriers addressed to the business. It is also important to pock that the office should be equipped with facilities for communication,