The proposed business to be established will be the manufacturing of furniture. Antigua’s Furniture Factory is the name of the business .Which will be located at the junction of Bendals main road and All Saints main road. The purpose of sitting up this type of business is to answer the call of the demand for high quality furniture and the high cost of obtaining quality furniture for individuals and also help in the eliminating of unemployment and help to provide a better way of life. The material used for the business to manufacture our high quality furniture will be obtain from South America and other countries who production carries many different types of wood and high quality of produce , so that our domestic and commercial customers will have the best quality furniture. We will provide a wide variety of furniture and at a low and reasonable price and also at a competitive rate. The legal structure of my business will be that of a sole trader, since it will be easier and relatively less expensive to star, and hence will be able to work flex able hours to bring the business up to perfection.
An entrepreneur is a person with a good eye for business opportunities and taking risk, He invests what he has to start a business in the hope of expanding the business to better our future. The entrepreneur raises finance before production begins, he employs, coordinate and reward the factors of production for their resources and he ensures that the factors of production are used in the correction proportion
The business will utilise the use of the appropriate technology available such as computer, telephones, fax machine photo copier and machine that is used to build the furniture, compressor, electric saws, sanding machine, carving tools etc. The machines will help in the production of high quality furniture production that also provides beautiful finishes that the appearance would attract customers to purchase them. The machines will help to provide a large quantity of furniture at a competitive price to meet the customers demand in a timely and efficient manner with the high quality produce. The computer will be used to provide accurate financial statement. The telephone and fax machine will be used to place and receive orders from customers, also to listen to customers complains.
The initial establishment of the business was based on the idea that considerable potential growth and expansion will be established in the future. The entrepreneur has studied and researched and has build a relationship with his customers and the opportunities has now existed for growth of the business. Some of the factors taken into account were the prospects for economic growth of the country, the establishment of new industries, the rapid development and expansion of new housing schemes and construction of hundreds of houses. These factors would increase the size of the market and the demand for the goods which present the potential for sales opportunities. The expansion of the business will also be establish by taking advantage of the outside market which well hence established the exporting of the business produce. Additionally the CSME will provide easy marketing opportunities for the exporting of furniture around the Caribbean. It is expected that this will contribute significantly to the profits for the business. 12
The business will be located at the junction of Bendals and All saints main road. The land to build the factory on will be obtained through a long term lease at a relatively low price. The location will provide easy and visible access to the business. The areas have easy access to utility services. There will be an abundance of skill workers and because it is a developing community the demand for high quality and low cost furniture will be met by the business. The location was determined by a...