Entrepreneurship and small business

Course Learning Outcomes:

• Demonstrate a solid understanding of the potential of entrepreneur in today’s competitive business world. (Lo 1.2)
• Demonstrate ability to think independently and systematically on developing a viable business model (Lo 1.3 & 3.7)
• Understand the place of small business in history and explore the strengths and weaknesses of small business. (Lo 1.1).

Start-up Business Plan

Assume yourself as an entrepreneur of a small startup business in Saudi Arabia.

Write brief notes on the following objectives:

1. Owners

a. Your Business Name, Address, E‐Mail

2. General Business Description (300 – 400 words)

A. What business will you be in? What will you do?

•Mission Statement

•Company goals and objectives

B. Business Philosophy

a. What is important to you in your business?

• To whom will you market your product?

• Describe your Industry: Is it a growth industry? What long term or Short-term changes do you foresee in the industry? How will your company take advantage of it?

• Describe your most important company strengths and core competencies: What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture?

• Legal form of ownership: Sole proprietor, Partnership, Corporation, Limited liability corporation (LLC)? Why have you selected this form?

3. Products and Services

a. Describe in depth your products or services. (Technical specifications)

b. What factors will give you competitive advantages or disadvantages? Examples include level of quality or unique or proprietary features