Each student is required to create a new venture. The new venture may be based on a business idea that you wish to pursue, or a purely fictitious company that is only ‘created’ for this assignment. For a new venture based on your own business idea, skills and objectives the Business Venture Plan should be as close to reality as you can make it. The fictitious company is permitted to operate in any market sector. However, it is should look to achieve minimum cumulative projected gross sales revenue of at least 50K GBP (or currency equivalents) at the end of 3 years’ trading/operations, in line with your developing understanding of earnings per capita, and the need for a sustainable enterprise if that proves to be your objective.
Overall Structure of the Proposal
Outline: The proposal must contain the following:
• 1. An explanation of the framework used for choosing and selecting the viable opportunity which the organisation will pursue;
• 2. An explanation of how the market was tested to determine the viability of the opportunity;
• 3. An explanation of the environment in which the new venture will operate alongside competition, as well as the key stakeholders involved;
• 4. An explanation of the business model developed to realise this opportunity;
• 5. An explanation of how the resources needs of the new venture were identified;
• 6. An explanation of the strategy used for acquiring the resources required to operate the new venture;
• 7. An explanation of how leadership and team management needs and issues are to be addressed;
• 8. An explanation of how the new venture will be financed and launched;
• 9. A final comment of why and how this project will successfully achieve its goal.
• 10. In appendices the Balance Sheet, Cash flow statements predicting sales for 3 years should be included.
