5: Financial Resources

6: Growth and Development

My plans for growth and development of the organisation invovles the following,

• My aims is to sell 100 mobiles in the first 4 months of opening the website
  This is a relative easy number based on the fact that we break even at 60 units
• At 8 months into the running of the organisation i wish to have my organisation advertising on the top media websites such as Youtube, Facebook and Twitter.

See more: http://ahmedc49795.blogspot.co.uk/2011/09/5-financial-resources.html

Not only will I attempt to create development with  my firm I will expand and grow using the following,

• The growth will take place by promoting my organisation by hiring a complete service advertising agency in order to boost company sales and brand awareness
• We will expand the organisation by offering a recycle option for the old phones of the public and give them cash in return for the old phone.

7: Financial Contingency

Financial Constingencvy involves my organisation MusaMobiles to raise more finance both internally and externally

The internal sources of finance will include the following,

I will accumulate £10,000 from my own personal savings to invest into the organisation
I will also raise £5,000 from friends and family which will help create more source of finance.

The external sources of finance will mainly come from grants and sponsorship schemes which the government have emplaced to assist young entrepreneurs to achieve their business ideas and create them into sucessful companies.

I will apply for a princes trust fund for young people aged 18-30 this will help me achieve the following
 

Business skills training

Business planning support

Start-up loan funding

Ongoing support from a volunteer business mentor

Access to specialist support, including our free legal helpline supported by DLA Piper

And, if you start a business, access to a wide range of free and discounted products and services

http://www.princes-trust.org.uk/need_help/enterprise_programme.aspx