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EXECUTIVE SUMMARY

Business plays a vital role in the life and culture of countries. In todays society people are
willing to assume the responsibility and the risk for a business operation with the expectation of
making a profit. Most businesses develop a new product, a new market, or a new means of
production.
This report outlines the steps reuired in setting up a small Business in !ntigua and Barbuda. !s
a guideline we came up with a business in which we would manufacture a commodity for sale
locally and regionally. The name of our business is called "adadli #am$. By using this
company it would give a clearer picture and understanding of the steps involved. The steps that
are outlined in the report are as follows%
&ome up with a good business idea
"rite a business plan '!pproach lending institution for funding(
)ecide on a winning name for your business
&hoose the form of business you are going to start
*et a business +icense
,egister for taxes
-repare to have employees
Buy other kinds of business insurance
*et your business records off to a good start
There are different forms of business in todays society. The group company "adadli #am$ is
owned by four individuals therefore the form of business being used is partnership. In this form
of business the owners generally decides on the product, acuires the facilities, and brings
together the labor force, capital, and production materials. If the business succeeds, the partners
reap the reward of profits. if it fails, all the partners take the loss.
! business must acuire a business license before they can operate legally within their country.
In !ntigua business licenses are issued by the high court of #ustice. Taxes are apart of every
country, in !ntigua a business must register to pay taxes. The institutions that issue these taxes
are Medical Benefits scheme, /ocial /ecurity and Inland ,evenue.
In most businesses employees are an essential part of the structure and development of the
business. "hen starting a business you must prepare to have employees. )evelop a method in
which employees are hired. 0ach employee needs the skills and ualifications for the type of
business you are operating. 1perating a business is being able to take risk. 1ne2way of to handle
these risks is to insure the business. *etting business records off to a good start will make it
easier to manage the accounting and payroll of the company.
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BUSINESS IDEA
1ur business idea came from Mr. +ucien -ilgrims love for 4ams. 5e developed this craving
from his childhood years when eating crackers and home made 4am at his grandmothers house.
!s he grew older he looked for that special taste in 4ams at the supermarket. )uring his visits to
several supermarkets he reali$ed that there were more imported 4ams being sold than 4ams made
with local fruits.
5e then decided to conduct a feasibility study about 4ams being sold and manufactured locally.
The results from his study showed that 367 of 4ams on the market were made locally. 1n
further investigation it was revealed that senior citi$ens made most of the local 4ams. These are
done on a small scale. The recipes from these 4ams are not passed on to the younger generation.
Mr. -ilgrim then became very concerned that the recipes of the 4ams he loved since childhood
would soon be 8buried in the grave9 along with our ancestors.
5e then decided to start a business where he would keep the recipe and his culture alive. 5e
approached five people from the community to develop his idea%
#onathan *ilkes : 5e supplied the fruit trees ; ,ecipes for the #ams
<areem !ska : !ccounting and management skills ; /uccessful Business +awyer
!nnwareen ,amdin : Marketing experience
They were all interested in his idea and decided to invest by putting in shares into the business.
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ANALYSIS
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1ur goal is to make a profit while marketing a product via the internet and also our focus is to
produce the best tasting 4am there is on the market. "e have developed a fully functional website
that has enabled customers to view the various flavors of 4ams being offered.
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The "adadli #am$ website is looking to attract at least a hundred visitors per day. 1ut of the
hundred visitors we are expected to have A67 become customers, after viewing our products
which expresses culture and heritage. 1ur value drivers would be cheaper price of products than
our competitors and also a better delivery time.
1ur customer base will be made up of simplifiers which are people who are attracted by sites
that make doing business easier, faster otherwise more efficient than is possible in the physical
world.
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1ur competitor market position is their strength, whereby they already have a strong brand name.
Their weakness would be delivery time because they are not located on the island. 1ur
competitors control at least A67 of the market thus far.
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The hosting site is bravehost, they collaborate with the web designer in order for the website to
be functional.
C
S.W.O.T ANALYSIS
/T,0>*T5/
/taff with experience in accounting, marketing and management skills
-racticing lawyer for twelve years
+and with numerous fruit trees
0ntrepreneurial attributes such as commitment, determined perseverance and self
confidence
There are not many other businesses that sell locally.
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+ack of liuid cash to Dinance start up cost
+ack of established markets
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To be able to expand the &apital
&onsumers not having to go far to get the product
Euality 4ams
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Take a while to enter market since customerF client relationship would have to be
established for fixed deliveries
There are several other local 4ams being sold
>atural elements such as hurricanes etc, animals such as birds, rodents may destroy fruits
G
REQUEST FOR FUNDING
The company "adadli #am$ main purpose for writing a business plan was to secure funding,
such as bank loans. /cotia bank was approached by one of the partners to secure a loan for the
company. Dollowing is the information needed by the bank before a loan is granted to the
company.
?ou must have tangible security 'collateral( in the form of cash or land.
?ou must deposit CH7 of the amount of the loan.
The loan is paid on principal interest for no more than 3Hyears. The interest rate is
between 3323=7.
!fter the loans officer and director of the bank review the reuirements, AH7 of the
initial loan will then be granted to the company.
! loan of IGG3,666.66 is being reuested to establish "adadli #am$ '#am Dactory(. 0ach partner
introduced a starting capital.
This sum is reuested to adeuately supply supermarkets, hotels, restaurants and homes with
locally made 4ams therefore establishing a local wholesale market for the products. The business
will be built on a delivery system whereby the product will be delivered to the customer as
reuested.
Drom the reuested funds I=J6,3J3.66 would be used to purchase the industrial euipment for
manufacturing, the vehicles for delivery, office furniture and the products for manufacturing.
The euipments will be purchased from Trinidad Boiler Inc. Dree on Board destination is used
when purchasing these euipments.
OBJECTIVES
To provide uality locally made 4ams
To provide at least H66 bottles of #ams weekly
To develop consistent delivery time
To export our product on the regional Market after a year
To be a leader in customer service
"e plan to have a loyal customer following
H
PERSONAL EXPERIENCE & BACKGROUND
This team comprises of <areem !ska who has five years experience in accounting and payroll,
#onathan *ilkes whose main euity is in land.
5is land consists of numerous fruit trees, !nnwareen ,amdin who has eight years in marketing,
Mr. *ilkes is also the sole holder of the recipes going to be used, while Mr. !ska has practiced
lawyer for twelve years and +ucien -ilgrim the founder with twelve years in management skills
MISSION STATEMENT
To provide supermarkets, homes, restaurants, hotels and in the future countries overseas with
uality locally made 4ams.
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BUSINESS DESCRIPTION
Business name% "adadli #am$
1wners% +ucien -ilgrim, <areem !ska, #onathan *ilkes, !nnwareen ,amdin.
!ddress% &oolidge Industrial -ark
Telephone% GL=2 3=66
Dax% GL=2 3=63
0mail% "adadli4am$Mhotmail.com
"adadli #am$ is designed to provide locally made 4ams. This product will be taken to the
customer. This will be facilitated by delivery vans between the hours 3=pm until Apm. 1pening
hours are from Lam2Hpm "eekdays and Lam2=pm on /aturdays.
MANAGEMENT TEAM
This team comprises of <en Matthews and Daith ,oberts. Daith has twenty2two years of training
and experience with machines use in manufacturing. <en trained in 4am production that extends
to preparation of boilers.
A
BUSINESS MODEL-B2C
Business2to2consumer 'B=&, sometimes also called Business2to2&ustomer( describes activities of
businesses serving end consumers with products andFor services.
!n example of a B=& transaction would be a person buying a bottle of 4am from our retail store.
The transactions that led to the 4am being available for purchase, which is the purchase of the
ingredients as well as the sale of the 4am to the customer would be considered 'B=&(
transactions.
REVENUE MODEL-DIRECT MODEL FOR MANUFACTURING
The manufacture or direct model, it is predicted on the power of the web to allow a manufacturer
i.e. a company that creates a product or service to reach buyers directly and thereby compress the
distribution channel. The manufacturer model can be bases on efficiency, improved customer
service, and a better understanding of customer preferences.
J
MARKETING PLAN
Th ! P"#
P$%&'()
1ur 4ams are based on an ancient recipe passed down from generation to generation. 1ur 4ams
are not only great but also very nutritious. 1ur fruits are from some of our local cultivators.
-ineapples, *uavas and Tamarinds are the three different types of fruits used in the
manufacturing of the 4ams. In the future the company will expand it product to another variety
for example guava cheese.
P$*(
In order for our business to be successful we have to market our product effectively. "e intend
to sell our product wholesale and retail. 1ur aim is to decrease the amount of 4ams that are
imported into the country and replace those 4ams with our product. The cost of our products is
cheaper as they are locally made and there are easily transported to the various supermarkets.
"e want our 4ams to be lunch snacks to children, on breakfast tables at hotels, restaurants and
supermarket shelves and also sold to many tourists that enter the island. 0ventually we hope to
export our 4ams to other countries.
1ur first target is to get our product into the ma4or supermarkets and hotels. By our estimate this
will be about J67 of the population of !ntigua and Barbuda and about H67 of tourist. Meetings
with prospective customers media advertisements and flyers would be the machinery put in
place to market our 4ams. !s an introduction to our product we intend to give samples to
shoppers and tourist at various hotels as an experiment on how effective the product is. Then we
will record their general opinion and comparisons to the 4ams they normally buy.
P+,(
"e choose a location that is accessible to everyone. "e are located at &oolidge Industrial -ark.
This location is away from the busy streets of the city traffic with easy access to the airport.
P$%-%)*%.
!fter our product has been introduced into the market the next step is advertising. Because we
have plans to eventually take our product regional we decided to advertise on a regional radio
station along with local media. "e have received a proposal from Damily ,adio which broadcast
to eight other islands% Montserrat, !nguilla, >evis, /t <itts, /t Maarten, /t Martin, /aba, and /t
0ustatus. This is a very popular radio station around the &aribbean. They also have a worldwide
audience on the web. In their proposal they are also offering us a banner space on their website
which would lead them to our website www.wadadli4am$.bravehost.com where they can view
our products and contact information.
N
DECIDE ON A WINNING NAME FOR T/E BUSINESS
?ou would want a name that is memorable and is going to summari$e what your business does
for marketing purposes. The partners of the company did some brainstorming for a catchy name.
They came up with the name W,&,&+* J,-0. The name "adadli symboli$es the heritage and
our culture and #ams spelled #2!2M2O represents the old techniues brought into the future.
Together they signify the past and present.
C/OOSE T/E FORM OF BUSINESS YOU ARE GOING TO START
The form of business ownership used by "adadli #ams is partnership. "adadli #ams is under a
general partnership agreement. 0ach of the four partners is 4ointly and severally liable for the
debts of the partnership. This means if the business suffers loss it is shared between partners
however this means that as a partner you can be held responsible for any wrongful act or
omission by other partners acting in the ordinary course of the firms business : which can be a
serious disadvantage. In contrast the most successful partnerships are those where the partners
have complimentary talents and are comfortable sharing the decision2making.
OBTAINING A BUSINESS LICENSE
The company has to pay I366 for registration, and an additional I=H for a search to be done in
the register to see if the trademark is registered. ! local agent then has to file the paper work in
regards to the companys trademark, then after about two days a ,egistration &ertificate is issued
to the company.
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! trademark is a sign that that individuali$es the goods of a given enterprise distinguishes them
from the goods of its competitors. ! trademark must be distinctive and it should not be
deceptive.
P,).)
The recipe for the 4ams is passed to one of the owners of the company so getting patent rights
will ensure that the company "adadli #ams is the only company using that recipe for the 4ams.
L
R2*#)$ )h 3'#*.## 4%$ T,5#
Taxes that a company in !ntigua pays for are%
P Medical Benefit '-ayable to )irector of Medical Benefit !ntigua and Barbuda(
P /ocial /ecurity '-ayable to )irector of /ocial /ecurity !ntigua and Barbuda(
P 0ducational +evy '-ayable to &ommissioner of Inland ,evenue(
P Business Tax '-ayable to &ommissioner of Inland ,evenue(
Business Tax Medical Benefit /ocial /ecurity 0ducational +evy
-articulars CH7 of >et
-rofit
C.H7 of
0mployees and
0mployers
/alary
C7 Dor
0mployee and
H7 for
0mployer
=.H7 of
0mployees
/alary
/alary over
IH666 : H7
The amount of business tax paid to Inland ,evenue differs depending on the form of business
you are going to operate. Dor example the CH7 business Tax paid to Inland ,evenue in the table
above is the deductions commissioned for a business operating as a partnership. The deductions
made for business tax are payable on a yearly basis. ! form is usually given to employers of a
business by these institutions to ensure the payments of taxes are made.
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/*$*.2 E-6+%7#
"hile starting a business2hiring employees may be the furthest thing from your mind but its
ama$ing how uick a business can grow. ! selected numbers of persons must be chosen with the
necessary skills and ualifications needed to carry out the different tasks reuired to perform the
functions of the company on a daily basis. "e intend to hire at least 3= employees in the
business preliminary stage. Dollowing is a description of the type of staff our business reuires%
Manager 2 Must have at least H years of management skills.
0xecutive /ecretary 2 Must have at least H years experience in administration. &omputer skills
reuired.
Dloor /upervisor 2 In charge of production, must have at least 3H years experience in
manufacturing.

&ooks 2 Must be experience in pastry making etc.
/tewards : Must have 36 years experience in the related field.
)riverF)elivery -erson 2 Must be an experienced licensed 'BH( heavy2duty euipment driver. 'H
?ears(
&leaner : Must have H years experience in the related field.
/ecurity : Must have at least J years in the related field.
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C%.(+'#*%.
)uring our research of the pro4ect we reali$e that the easiest step was coming up with the idea to
start a business. The procedure in which one has to set up a business deals with a lot of planning,
consulting for information and ideas. The most challenging part of doing this exercise is
compiling the business plan. ! lot of intellectual power went into the business plan.
0ven though the pro4ect was challenging members of the community were very cooperative and
patient in giving us all the necessary information.
3=