Candidate Name: Tashera Andrews

Grade: 11

Teacher: MRS. Hewitt

School: Green Island high school

Territory: Jamaica

Year: 2022-2023

Topic: Benefits that the government offer to small businesses in Retreat

Table Of Contents

1...........................INTRODUCTION

2....................... DESCRIPTION OF THE BUSINESS

3...................... JUSTIFICATION OF LOCATION

4......................SELECTION OF APPROPRIATE LABOR

5..........SOURCE OF FIXED AND WORKING CAPITAL

6.................... ROLE OF THE ENTREPRENEUR

INTRODUCTION

small businesses are essential to the expansion and improvement of any economy. the
government in Retreat has implemented several policies to encourage small businesses'
expansion and development because it understands how important they are to the community
Among these efforts are financial aid, tax breaks, and courses for starting a business. the
advantages provided by the government to small enterprises in Retreat are intended to foster an
atmosphere that will enable these companies to prosper and boost the local economy. the many
advantages that the government provides to small enterprises in the Retreat community and the
significance of these advantages in fostering economic growth and development will be covered
in this introduction

DESCRIPTION OF THE BUSINESS

TYPE OF BUSINESS:

will be a sole proprietorship business owned and operated by TASHERA ANDREWS. it will be
located at 15 Retreat rd, Westmoreland.

NATURE OF BUSINESS

A tiny retail establishment called a mini-mart grocery shop focuses on offering a variety of
standard household goods, groceries, and food items. these shops are often found in residential
neighbourhoods, and people who require rapid access to everyday necessities like milk, bread,
and other food products frequently go there.

OBJECTIVE /MISSION/STATEMENT

the business objective will be :

1: to make a profit through the sale of grocery

2: to create employment by employing a person in the community who is in use of a job.

3:to produce quality and fresh-grown food in Jamaican

MISSION OF STATEMENT

Our goal at the small mini-mart grocery store is to give the neighbourhood's residents easy
access to a variety of high-quality groceries and household necessities. we are dedicated to
giving our clients a warm, inviting experience while providing them with a handy one-stop shop
where they can get anything they require.

JUSTIFICATION OF LOCATION

STATE LOCATION

Tashera mini mart grocery shop is located at 1 Retreat,

Westmoreland.

THREE (3) REASONS TO JUSTIFY LOCATION

Increased Foot Traffic: A mini-mart can bring in a lot of people to the neighbourhood, which is
good for nearby businesses.

Filling a Gap in the Market: Another way to close a market gap is to put a micro mart in a
neighbourhood. A micro mart can offer the community a much-needed service if there aren't
many other grocery stores nearby or there aren't any at all. As a result, the tiny mart may develop
a devoted client base and become recognized as an important part of the neighbourhood.

Convenience for Customer: Convenience for customers is one of the most persuasive arguments
for placing a mini-mart in a neighbourhood. Customers can quickly acquire necessary goods and
household supplies without having to travel far by having a micro market adjacent to residential
areas. This can be especially helpful for those without access to a car or with limited mobility.

SELECTION OF APPROPRIATE LABOR

TYPE OF LABOR NECESSARY

The business will need experienced staff. there are a total of 5 employees.

Owner/operator=To make financial decisions check the products, hire new staff and discard
underperforming staff.

Cashier= To cash prices of the grocery the customer purchase

Security= To ensure the safety of the business

Butcher=To serve retail goods and meat

Merchandise=To promote the goods and provide customer service.

SOURCE OF FIXED AND WORKING CAPITAL

The capital will be obtained by a loan of $200,000 from the national commercial bank (NCB)
(2,000,000.00) The property where the small store is located will be renovated with the help of
this loan.

Stocks of materials, cash on hand, bank accounts, and other things needed for the day-to-day
operations of the firm are all examples of working capital. Working capital is constantly being
depleted by the purchase of new machinery.

Tashera mini-mart capital will be obtained from personal savings. a sum of one point five million
dollars (1,000,000) This money will be used to purchase equipment such as shelve, refrigerators,
cash registers, fans etc

ROLE OF THE ENTREPRENEUR

DEFINE THE ROLE OF THE ENTREPRENEUR

The responsibility of an entrepreneur is to demonstrate originality and vision while taking on the
financial risk of launching and running a new firm. the function of an entrepreneur will allow
him or her to oversee, improve and guarantee employee training.

OUTLINE THREE FUNCTIONS OF THE ENTREPRENEUR

1. Identifying opportunities; One of the primary functions of an entrepreneur is to identify

opportunities for starting a new business or expanding an existing one. assessing the feasibility
of a business idea.

2. risk-taking Entrepreneurs are willing to take calculated risks to pursue their business
goals .this involves investing time money and effort into a venture without the guarantee of
success. Risk-taking is an essential function of entrepreneurship, as it often leads to innovation
and growth.

3. innovation and creativity; entrepreneurs are constantly seeking new and innovative ways to
solve problems and meet the needs of their customers. this involves developing new products or
services, improving existing ones, and finding more efficient ways to operate a business.
Innovation and creativity are essential functions of entrepreneurship, as they drive growth and
competitiveness in the market.