Abiba is a young woman who works in a Tie & Dye Factory. She has worked with the company for eight years. She has been working at the same spot in the value chain since she started work and is responsible for ironing. She does not know anything about any other aspect of the business except for the ironing function she plays. She has however always fancied herself as a business owner one day and with each day, she becomes disinterested in her factory work. She is unhappy all the time and anxious to start her own business. She has always thought of being a fashion designer and had a moment of awakening! However, she had not saved enough money and a friend advised her to submit a business plan to a Venture Capitalist that would assess the economic potentials of the business and possibly assist her. Abiba initially submitted a business plan which consisted of six parts: an executive summary, a business description, a manufacturing segment, a management segment, a milestone schedule segment, and appendix. After five days, the business plan was returned to her with a revision letter, asking her to rewrite some segments of the plan, this plan is incomplete and cannot be favourably reviewed by us. If you would provide us with the following additional information and submit the rewritten plan within the next 14 days, we would be happy to review the plan and give you our final opinion within 3 working days. You are a business consultant and Abiba has approached you for help to rewrite the following sections of the business plan to suit the requirements of the Venture Capitalist:

Morality 4 Marks

Ventures identity 4 Marks

Motivation for starting the venture 7 Marks

Mission statement 4 Marks

Product offering 4 Marks

Money 7 Marks

QUESTION 2

Madam Samuella Yinmalya has just completed a training on entrepreneurship development and is thrilled about the many benefits and opportunities of being an entrepreneur. She was told when you start building a business, you begin a journey or a process. This process has a beginning and an ending and between the beginning and end lays a lot of challenges. You will win only if you remain faithful to the process. This statement made her apprehensive because she needed to adequately prepare in order to overcome these challenges. In the light of the above:

i. Identify and explain five (5) entrepreneurial skills Madam Samuella Yinmalya needs to possess in her entrepreneurial venture? (7.5 marks)

b. Discuss five (5) challenges of entrepreneurial development she is likely to encounter in her venture? (7.5 marks)

QUESTION 3

Andrew and Simon are prospective entrepreneurs and are soliciting your advice to start their entrepreneurial venture in a profitable industry. Your task is to choose for them an industry you know very well and do an industry and competitive analysis to determine its profitability and advise them accordingly. (15 marks)