Small Business

Small business refers to business locally owned and

managed often with very few employees working at a single
location.
The business plan entails taking a long term view of the
business and its environment. A good plan should emphasize the
strengths and recorgnize the weakness of the proposed venture.
Above all, it should convey a sincerity of purpose & analysis
which lends credibility both to the plan to the entrepreneur
putting it

forward, Therefore the business plan is the written

document that details the proposed venture.

Suppose we want to start a small business with a Basic
drug Manufacture. For starting my small business the following
steps should be developed.
At first developing my business Drug Manufacturer is
Information need:
A.

For starting my business at first I will collect market

information then set my objectives by knowing operation
information and finally financial information should be
collected.

B.

Secondly written documents must be need for up growing

my business plan.
The written documents include the following steps;
The first step is Executive summary which employees on

the following data.

i)

ii)

iii)

Name

SIMA Basic drug Company

Address

10, Savar Road, Savar, Dhaka

Name of Director

Dr. Razaul Korim

Address

10, Savar Road, Savar, Dhaka.

Nature of Business

To Manufacture Raw Materials

of Medicine.

iv)

Financial Needs

Owned financial support.

The second Step include Industry Analysis which support the

following information

i)

Future outlook and trends :

Since we are involved for manufacturing basic raw

material for Medicine, So my business has an optimistic future,

Therefore I will undertake to build up such a business.

ii)

Analysis and Competitors:

As in Bangladesh there has a few company who has such

type of business so I will prefer this business as will as the

number of my competitor is low.
iii)

Market segmentation:
My business is a segment for those manufacture who

manufacture medicine. I can provide active drug to them.

The third step include description of venture which involvei)

The name of the product: Paracetamol, Aspirin,

ii)

The size of business of not too big.

iii)

The necessary equipment for manufacturing basic drug

must be set up.

iv)

The Globe chemical Ltd. is my pioneer for setting up such

type of business. They have given endeavour for my
business.

The fourth step is production plan

For planning production of raw material the following
information must be known.

At first, how I will manufacture my drug that must be

collected, There should be a manufacturing procedure.
Secondly the plant should be set up in a place where has
adequate facility.
The necessary Machinery and equipment should be
collected to smooth production of my product.
Finally the name of supplies who provide chemicals need
to manufacture my active product must be known. The quality
of suppliers must be verified.
The fifth step is Marketing Plan:
In marketing plan we will concern about the following
criteria:
The policy about pricing is the most valuable factor for
marketing plan. At first price of the product should be estimated.
The distribution of product should be selective for
distribution of product adequate sales representative must be
needed.
Promotion is a vital factor for marketing of product.
Different type of Promotional

approach should be taken for

increasing the sales of my product.

Finally, marketing policy should be controlled

*

The sixth step is organizational plan : which illustrate the

following in1.

The from of ownership should be kept.

2.

Partner identification should be needed.

3.

Management team background should be established.

4.

Different

roles and responsibilities of member's of

organizations will be documented.

*

The seventh step is Risk mention which follows

a)

Evaluate weakens of business about inform of product,

about competitors market and finance.

b)

New

technology

should

be

adopted

for

running

ultramodern product.
c)

Contingency plan should be needed.

The Eights step is Financial Plan which is most important

for our business.
In financial plan income statement cash flow,

balance

sheet must be collected. The another point of source and

application of funds are most important in my financial plan

In includes 1.

Mortgage loan

2.

Term Loan

3.

Personal Funds.

4.

Net income from operation.

5.

Depreciation funds

It's application sector arei.

Purchase of Equipment

ii.

Inventory

iii.

Loan payment

iv.

Pay of various debit

C.

Thirdly using and implanting the business plan should be

needed for my small business. It includes i.

Measuring plan progress - For measuring plan progress we

have to develop some control policy. regarding.

a)

Inventory of all the product should be controlled

b)

Production of product must be controlled

c)

Quality control of product must be done for assuring

quality of product.

d)

Sales of products should be control

ii)

Updating the plan: The plan should be updated time to

time if any fault arise during planning of business. That
must be corrected.