C Sredit T ystems I nternational Centre for research educational designs and information technology B P J 2 USINESS LAN une 009 B T Background USINESS P LAN SECTION 1: THE BUSINESS PROFILE I Armstrong Simelane, I have an economic dream to setup a private venture. The name of the centre shall be called the centre for research educational designs and information technology. The centre shall be based in Nhlangano, Swaziland. Nhlangano is so named because King George of England and our illustrious King Sobhuza II met here. The name of the town used to be Goedgegun, but after the meeting between these two kings the name changed to Nhlangano – meaning the perfect meeting Place. Having been attached to University of Pretoria centre for Evaluation and assessment invaginated my thoughts and my Masters in Education (Computer Integrated Education) course on the implementation and management of inspired me to venture into this kind of business. My economic dream is to run a business that shall provide a number of the much required Information and Communication Technology services to educational organizations including schools, colleges and universities. I have done the following courses: instructional, systems designs, teaching and training with technology, research methodology. Strategic planning, project management. Having been in the IT business for the past 12 years and with the above credentials I believe my services are required by a number of educational institutions. The services to be offered include consultancy, instructional design and accreditation for college IT programmes, world class IT services, media centre services, Internet and mini conference facilities offered to them under one roof. Currently no one offers this service in the country. I will also lease out and sell teaching paraphernalia like projectors/lap tops, white boards. The establishment of such a place is now possible because the Swaziland Post and telecommunications Corporation (SPTC) has upgraded their internet to ADSL and a broad band internet service is now possible. Section 1 1.1 B T USINESS P LAN SECTION 1: THE BUSINESS PROFILE Credit systems International as a centre to be shall provide the following services: 1) Mini Conference facilities with an interactive whiteboard and broadband internet for strategic planners from educational organizations. 2) Consultancy services for strategic planning, project management, market research and educational designs. 3) Media centre services for printing multi layered posters and other graphics 4) Service centre for upgrading computers from educational institutions and IT equipments 5) One stop shop and world class ICT services for educational organizations. 6) Data collection, processing and compilation services. 7) Produce educational learning objects 8) Sell educational CDs, DVDs, printed manuals 9) Host websites for a number of educational institutions e.g. Swazi School online. 10) Provide chartrooms, educational forums and e-mail services for students in schools, colleges and universities. Description of Business Simple put this is a research and IT resource centre for educational institutions which has been born after realizing that the demand for information and communication technology (ICT) increases everyday as individuals, communities, schools, churches, businesses realize the possibilities of internet, e-mails and internet banking. The demand for ICT services and products is increasing and shall continue to increase as electricity reaches more and more sectors of our country. Section 1 1.2 B T USINESS P LAN SECTION 1: THE BUSINESS PROFILE The promoter of this business Armstrong Simelane is interested in providing the following services that will promote computer integrated education and the use of ICTS in schools and learning environments. The focus shall first be on setting up an Internet Service Provider platform that will help the local people to connect locally and have the benefit of a lower telephone bills and fast internet service. Once the service provider platform is fully operational it will be possible to launch the following desks, services and other hot ICT facilities: A] 24/7 CYBER ZONE AND MAIL DESK The centre will provide facilities that shall enable people to use the facilities even through out the night without worrying about what they will eat and where they will sleep because all that shall be provided within the same compound. A drop and receive e-mail desk shall be provided even for those who are not computer literate. A lot of businesses and jobs are now made available through the E. Mail service. B]UPLOADING AND DOWNLOADING DESKS ICT users need to now an again send their work into the internet or world wide web. A number of South African universities where most Swazis do their post graduate studies require that students should upload/ submit their assignments through the internet to the university website which later download it to the specific lecturer. I have seen this in action when I was studying for a senior degree with Rhodes University. I have also helped students studying with the University of Cape town, Wits and University of South Africa to download and upload their work. In the year 2007 I was then offered a part time job by the University of South Africa to a be a tutor for their students. In this job I was paid by the university E200 per hour for a Section 1 1.3 B T USINESS P LAN SECTION 1: THE BUSINESS PROFILE set of 30 students and I learnt a lot which has made me to realize the need for this business. A number of individuals now study through distance learning but the facilities are not there for E.learning and mobile learning. I received training at Rhodes University on how to host this. C] TELECONFERENCES, MEETINGS AND VIEW DATA SERVICES PLATFORM The advent of computers has made it possible to do interviews on line and have a number of services provided on line through real-time processing. International interviews shall be possible for international job posting. D] E.LEARNING TABLES This shall hook up the customers to a number of learning sites and expert services. This shall afford a number of students doing professional exams to write their exams online as the requirement is with most of these bodies. e.g. Comptia A+ and N+ examinations. E] DATA RECOVERY , DATA STORAGE AND BACK UP DESK When computer viruses attack data is either corrupted or lost. It is therefore good practice to backup data regularly. This service shall be beneficial to business with point of sale system. Once stock level data is lost a business may be grounded. This desk shall make it possible to recover corrupted data and data has been lost through high level formatting or viral attack. Individuals and companies now will not go to South Africa when the service is available here in the country. All clients shall be encouraged to take an insurance policy to cover the machines. Section 1 1.4 B T USINESS P LAN SECTION 1: THE BUSINESS PROFILE F] MEDIA CENTRE AND WEB HOSTING A number of companies are into Internet marketing. In this regard companies hire other companies to handle their advertising for them. This is done through designing websites for these companies and later on publishing them. This desk shall also help in the production of DVDs, VCD, printing of pictures and multilayered logos, movie making, speech and sermon recording for pastors who want their sermons to televised and broadcasted. This desk shall lay a foundation for the development of the a local newspaper – SOUTHERN VIEW/ NHLANGANO NEWS, radio service – much like with Mashaba’s services in Generations, a south African television soapie. Targeted Market and Customers The target market are organizations that are doing research online, Elearning, meetings for strategic planning, workshops, seminars. Our customers will be schools and educational institutions that want to enhance their productivity by utilization of ICTs. Schools as typical clients will require a computer and a printer to be installed in their offices and have internet connection. The computers shall be used for the dual purpose of preparing documents, tests, research from CD-ROM encyclopedia, or through the internet. Potential clients are schools in Shiselweni that have employed a school secretary or where the teachers are computer literate. There are a number of such schools in this region which can not afford to purchase the computer out rightly because parents pay in installments termly and Orphaned and Vulnerable Children (OVC) money from government usually reach schools towards the end of the year. That will make it possible for Section 1 1.5 B T USINESS P LAN SECTION 1: THE BUSINESS PROFILE schools to buy those computer they have been leasing at the end of the year. Vision The vision of CREDIT SYSTEMS INTERNATIONAL is to be the main cybergate into the cyber world of the southern part of Swaziland at affordable prices, just on time to our clients. Mission The mission of the CREDIT SYSTEMS INTERNATIONAL project is chiefly to be a regional ISP, provision of world class ICT services and products while raising income and increasing a lifetime customer base. Core Values The following values have been adopted: − Less is more Sustainable Development Integrity and Honesty − − Section 1 1.6 B T − − − USINESS P LAN SECTION 1: THE BUSINESS PROFILE Growth through hard work Excellence and diligence Conscience for social responsibility Business Aims The following aims focus on the vision of the business: Establishment of an Internet Service Provider business. Open a media centre for academic organizations. Provide a variety of complementary ICT services within the same compound. Design and host websites for schools and colleges. Provide the internet service to a number of schools and organizations. Assist in the computerization of the education system and examinations. Raise income on a consistency basis to develop the business. Rent and sell computer services to schools, businesses and a number of organizations. Section 1 1.7 B T Location and Premises USINESS P LAN SECTION 1: THE BUSINESS PROFILE FORMTEXT The business shall be located at the corner of Matatazela (7 th street) and Ndwandwe avenue ( 1st avenue) i.e. opposite Metro Cash Carry. The plot number is 130 and plans are at an advanced stage to secure the ownership of the adjacent plot which is plot 129. We intend to start business operations on plot 130 which belongs to myself. This place is just less than 500 metres from Nhlangano Spa and about 200metres away from Metro. Service Matrix and Organization Credit systems Internet Service Provider ICT Centre and Media Desks Research Division and Consultancy Exams Professional Consultants wing It is important that the team of professional advisors be in place before I start the business. Here is a list of these professionals: Attorney: Magongo and Associates. Section 1 1.8 B T USINESS P LAN SECTION 1: THE BUSINESS PROFILE Accountant: Kobla Quashie Insurance Agent: Swaziland Board of Executors Architects: Dan Dlamini Contractors: J&E contractors Section 1 1.9 B T PERSONAL PROFILE Name: Business type: Field: Id number: UP students#: Years in IT Business: USINESS P LAN SECTION 2: THE BUSINESS PROFILE OF PROMOTER Armstrong Simelane Management consultancy Information and Communication Technology 6908216100022 29307679 12 years PREVIOUS BUSINESS A) Bureau of Computers services B) Itechom (pty) ltd. C) MBA Cold Storage and Distributors (pty) ltd. D) Cybergate It Centre. E) Hluti Management Centre EDUCATION CREDENTIALS AND QUALIFICATIONS A)Diploma in General Agriculture - tenable at UNISWA B) Bachelor of Science in Agricultural Education - tenable at UNISWA C) Certificate in Computer Programming - tenable at AACP D) BED HONS ICT tenable at Rhodes University E) Candidature: M.Ed CIE ( in progress @ the University of Pretoria) PREVIOUSLY HELD POSITIONS A) Maths and Science Teacher - Gundvwini Secondary School B) Maths and Science Teacher - Mbukwane SDA High School Section 2 2.1 B T USINESS P LAN SECTION 2: THE BUSINESS PROFILE OF PROMOTER C)Agriculture Teacher - Nhlangano Central High School D) Head of Department - ICT and Agriculture Departments E) Chairman finance Committee - Nhlangano Town Council F) Deputy Principal - Nhlangano Central High G) NPDE part time tutor - University of South Africa. H) Field Worker – Centre for Evaluation and Assessment, University of Pretoria Duties assigned to me after training by C.EA. • The administration of learner, teacher and principal questionnaires • Interviews with learners, teachers and principals • Classroom observations • Taking note of the availability and condition of infrastructure in and around the school. • Document analysis of learner workbooks, assessments, portfolios and lesson plans. Schools visited: • Botse Botse High at Soshanguve • Alexandra High at Alexandra • Sakhisizwe High at Walkerville • Meadowlands High at Soweto Section 2 2.2 B T SECTION 3: 1) SWAZI .NET USINESS P LAN INDUSTRY ANALYSIS In the world the market for such services is growing at an unprecedented rate. According to Mary Meeker of Morgan Stanley, there are now 250 million Internet users internationally. Swaziland has four Internet Service providers namely: This is run by the Swaziland Post and Telocommucations Corporation (SPTC). This is the official gate way in Swaziland and is responsible for regulation the swazi domain. Their infrastructure is housed in Mbabane. 2) REAL IMAGE INTERNET This is a private company based in Mbabane and it offers the most reliable and state of the art internet and other ICT services for the country. 3) POSIX This is a Matsapha based internet and networking company which started trading as NETCOMM before hosting internet for a number of companies based in Matsapha and Manzini. 4) LISANGO The company is also based in Mbabane and offers internet services to subscribers and their operations are limited and get a lot of competition from real image. Most of these ISPs focus in the Industrial capital of Swaziland and have no shown interest in education. Section 3 3.1 B T SECTION 3: USINESS P LAN INDUSTRY ANALYSIS The base for CREDIT SYSTEMS INTERNATIONAL shall be Nhlangano in the Shiselweni region. In this region, Nhlangano is the main and most frequented town. It is located strategically in the Southwest of the country forming a gateway between South Africa and the country. Shiselweni all along has had limited industrial activities. For this reason businesses and individuals in Nhlangano had to travel 100 km to as far as Matsapha, Manzini, and South Africa to acquire some commodities. During holidays and other peak times Nhlangano is particularly abuzz of economic activities because of several people returning home. Nhlangano is now a growth point for many businesses. Phase one Market Segmentation (Regional) - 3 Colleges − 183 Schools Private companies Clubs, and other non-profit making organizations Members of the public − − − Section 3 3.2 B T SECTION 3: USINESS P LAN INDUSTRY ANALYSIS Market Needs The nature of life today demands that an individual should have an internet access and an E.mail address. Without these one is said to be living in a world where he or she does not exits. Companies are said to exist in the cyber world when they have a website address. It is through a website that one has a cyberspace denoted by a URL (Universal Resource Locator). Market Growth My main objective is to supply internet service to a number of schools first in the Shiselweni region before hooking up and hosting schools in the other regions. I have chosen this region because it is my home and I have chosen schools because I have studied their needs for some time and have a full house package for schools. I must mention here that I have worked with a number of head teachers from the Shiselweni schools and have trained most of their secretaries apart from supporting their computer systems. The growth of market will depend primarily on the customer confidence instilled at the early stage. There is a wide variety of ICT services and products that people need from Nhlangano town but only a few are supplied Section 3 3.3 B T SECTION 3: USINESS P LAN INDUSTRY ANALYSIS at a very low scale and class because there was lack of Infrastructure from SPTC. SPTC broadband has just been launched. A number of customers had to rely on connecting to ISPs based in the North of Swaziland and that has resulted in high telephone bills and slow internet service. Distribution Patterns MTN Swaziland though its GPS has tried to provide internet service but the service is down sometimes due to network congestion. This has seen some individuals trying to connect to South African MTN and Vodacom. This is only possible on certain locations that are having no atmospheric blockage to the South African network. Big businesses tend to source their stock put satellite dishes and aerials just to connect to South African network. A number of individuals who use real image and swazi.net prefer to connect to the internet at night because it is cheaper at night and yet the speed is usually faster because a number of individuals have logged off. Competition and Buying Patterns Most competitors in this kind of business have limited capacity in that they are all based in Mbabane and operate with imperfect knowledge and no sown interest in ICTs for educational purposes. They have a very limited understanding of what is happening in this region. Nevertheless, they are able Section 3 3.4 B T SECTION 3: USINESS P LAN INDUSTRY ANALYSIS to get and service customers who are not aware that they are expensive and slower. Once schools have seen the advantage of using a local ISP more and more will be willing to use locals for ICT services. Market Analysis Web hosting a) 3 colleges b)183 Schools c) Business Community Dial up connections 300 individuals paying E120 per month = Broad Band connections 6 companies paying E450 per month Data transfer 3000 E.mails per day averaging 10KB @ E5 per month Section 3 3.5 3 * E300 = 900 per month 100 * E250 = 25,000 per month 20 * E280 = E5,600 per month E3,6000 per month = E2,700 per month = E1,500per day up to E39,000 B T SECTION 3: TOTALS = USINESS P LAN INDUSTRY ANALYSIS E76,800 per month Translating to E2,560 per day Section 3 3.6 B T SECTION 4: ACCOUNTING Cash Flow Planning USINESS P LAN AND CASH FLOW Attached is an exhibit of our one-year cash flow analysis including estimated sales, all costs and capital investments. We have included a check of all expense items for input into our cash flow projection. Analysis of Costs We intend to bill our services at an average cost of E700.00 per school and to mark up equipment ordered on behalf of clients 60%. A cost-breakdown form will be used to estimate every contract. Each prospective client will be furnished a written contract outlining all costs including a not-to-exceed maximum, based on our cost-breakdown analysis. Our terms of payment for our services will be: Credit cards and Cash. Extras will be approved in writing before commencing work. Maintenance contracts will be handled on a cost per hour basis. Schools are expected to submit 10 post dated cheques before equipments are installed. Internal Controls A qualified accountant will be hired. An experienced individual in our type of service business and will set up systems to handle receipts, accounts payable and accounts receivable. The director will be the only person authorized to sign purchase orders, make capital acquisitions and sign cheques. Section 4 4.1 B T SECTION 5: FINANCING Financing Strategy USINESS P LAN The requirements for start-up capital are as follows: Attached is a list of expenses for which we will require either start-up capital or financing. These items include building, renovations of existing structures, partitioning, purchase of equipment and supplies. These expenses are included in our monthly cash flow projection to indicate the ongoing requirements for cash. Projected Costs Costs of Building Costs of setting up ISP service Cost of setting up furnishing units Cost of setting up the various desks and services E568,715.00 E184,255 E18,500.00 E35,000.00 Total expenditure E806,470.00 Section 5 5.1 B T SECTION 5: FINANCING USINESS P LAN Hardware and Software Requirements EXPENDITURE 12 LAPTOP COMPUTERS & STANDS E36, 000.00 NET SERVERS & LICENCES E17, 649.00 PRINT SERVER & PRINTERS UPS FOR 30 COMPUTERS ROUTERS & SWITCHES E 9,699 SATELLITE DISHES DIGITAL, VIDEO & SPY CAMERAS INTERACTIVE WHITE BOARD TRUNKING AND CABLING LABOUR SPEAKER SYSTEM PLASMA SCREEN SUBSCRIPTION FEES PER YEAR PROJECTOR E16, 200.00 E11, 700.00 16,800.00 E3, 200.00 E7, 300.00 E3, 899.00 E13,699.00 E11, 360.00 E8, 600.00 E14, 649.00 E 13,500.00 ESTIMATED COST Section 5 5.2 B T SECTION 5: FINANCING USINESS P LAN This business plan has been prepared to motivate an application for finance with financial institutions. I am prepared to make power point presentations to potential lenders. The presentation kit includes this business plan and power point slides. I am prepared to be specific in my needs for financing, the payback program and my sources of repayment. We will furnish potential lenders with a cash flow projection showing these sources of repayments. Section 5 5.3 B T E-Commerce Plans USINESS P LAN SECTION 6: E-COMMERCE As a consultant in this field I plan to develop an Internet site that will function as a billboard to display the business operations. The site will be devoted to primarily advertising and as a channel for feedback from clients. E-Commerce Budgeting I have the necessary skills and know-how to design, implement and maintain the business website. All necessary equipments to mount the website shall be in place once the business is established. E-Commerce Competition In consulting practice, the website will be a tool to portray the business image as an internet company that believes in facilitating growth for small businesses. That will differentiate the company and beat the competition. Section 6 6.1 B T USINESS P LAN Section 7: Acquisitions C SS I redit it T ystems nternational Centre for research educational designs and information technology Section 7 7.1 B T SECTION 8: MARKETING Marketing Plan USINESS P LAN A sales kit with letters of recommendations from our happy customers shall be compiled. A Power Point presentation, which will incorporate visitation to e-commerce sites that have been created for clients. T In addition to these referral prospects, local newspaper advertising, mailing campaign with telephone follow-through with local businesses that are prime targets for e-commerce marketing shall be the business mordus operand. Advertising and Promotion Plans An initial advertising budget of E3, 000 per month for local print media, Centre for research educational designs and Swaziland and mainly in the following local newspapers Observer, Times ofinformation television stations like Channeltechnology TV. A reputable advertising S and Swazi agency shall be appointed to create and place our advertising and to create our logo, stationery, and basic brochure. Estimated cost including creation and initial print run of brochure and business forms: E8, 600. Future direction for advertising and promotion will be directed by the growth rate of the business. Further exposure shall be obtained through joining Rotary Club and Chamber of Commerce as a means of networking with local business leaders. Section 8 8.5 B T SECTION 8: MARKETING USINESS P LAN Purchasing and Inventory Control Written specifications on equipment purchases and the following purchasing policies will be maintained. Purchase Orders will include: Price and terms Price protection Always in writing Complete specifications Delivery deadlines All promises will be verified in writing Appropriate contingencies will be included in purchase orders Any changes or extras must have prior approval in writing Internal controls will be in place for shipping and receiving Training Policies For the next one to two years I will personally handle marketing. As the business matures I will hire marketing consultants to expand sales activity under specific guidelines. I will expect these consultants to run an in house training for recruited individuals so that quality is not compromised (quality assurance). I have realized over the years that when you train college products who come to the company to do internship they leave the company immediately they skilled. Section 8 8.5 B T SECTION 8: MARKETING USINESS P LAN Trainees shall be rewarded through an incentive compensation plan and on a commission basis. This will be depend on the overall profitability of each assignment. They have to be motivated by incentive compensation which is focused on their individual achievements, rather than on overall company performance. The Competition The principal competitors will be Real image, Lisango, swazi.net. , POSIX, Computronics and Swazi MTN. These competitors may present a serious threat but unfortunately for them they are all based in Mbabane, Matsapha, and Manzini. Their competition is not a serous threat to our business because this business is strategically placed and they will eventually find us to be their good associates. The distance is their biggest disadvantage. Our established competitors are either too big (or expensive) or too small (and under-qualified) to successfully handle the small emerging retailers whom we plan to target. Our unique advantage is our experience in all phases of the components required to install successful e –commerce operations. If any one of these components is lacking, customers can waste large amounts of money and even at the peril of their overall businesses. So our focused experience and successful projects will be our key to building a niche and reputation. Section 8 8.5 B T SECTION 8: MARKETING Strengths Market knowledge USINESS P LAN SWOT Analysis I grew up in this region and I know the Shiselweni region very well and I understand the trends, distributions cycle and patterns of our products in particular. Technical and Business Strength I have the necessary expertise in computer programming and computer Education. I hold a Rhodes University degrees Information and Communication Technology with majors in Education Leadership, management and Research. Contacts I have made contacts with existing two ISP and the University of Cape town lecturer Professor Cheryl who is working closely with mark shuttle worth in developing education programs for South Africa. e.g. Linux UBUNTU and EdUbuntu. My lecturer in the course IBE 880 at University of Pretoria is my source of strength and “GPRS” in this Section 8 8.5 B T SECTION 8: MARKETING business. Nhlangano Base USINESS P LAN Nhlangano is the largest town in the region. It is centrally positioned with a good road, telephone and mobile networks. It has banks. Nhlangano is near Mahamba border post. The traffic to and from South Africa passes through Nhlangano. I will be the first ISP to service this market. Weaknesses Market uncertainty The thought of depending on SPTC as the single gateway is a weakness that will be addressed when the industry is liberalised and opened up for more gateways to control the Swazi domain. Opportunities As the sole Internet Service Providers in Shiselweni region the opportunity to try and develop new products is enormous. Threats Security Criminal elements in our society and reports of armed robbery in the Section 8 8.5 B T SECTION 8: MARKETING sought. USINESS P LAN country means make it necessary for fidelity and insurance cover to Strategies In fullness of time the following strategies will executed: − Manage security by insurances, implementing safe processes involving finance, hire security companies, and other security measures. − Avoid direct confrontation with competitors. Adverts in and around the region and other areas. − Products Internet Connection, web hosting, uploading of assignments, downloading of work, e-mail, data transfer, data back up, cleaning of viruses, sales of software, sales of accessories, upgrading of computers, leasing of computers, hosting of talk shows, desktop publishing, preparing of presentations, film making, rendering service, media centre services, news relaying, teleconfecering, International interviews, drop and collect of messages, dial up service and broadband – leased lines and dedicated lines. Section 8 8.5 B T SECTION 8: MARKETING USINESS P LAN Future services and products It is my aim to establish a tourist attraction centre with the old computers I have collected over the years which mark the generations and stages in the development of a computer. The gadgets they tell the story better to a tourist and visiting students of computer science who ants to understand the development of a computer. One of the computers represents the technology that was used in the early 80s. Section 8 8.5 B T Handling Major Problems USINESS P LAN SECTION 9: GROWTH PROGRAM The policy in handling problems will be to identify and acknowledge problems promptly and honestly. The plan is to put the following policies into effect promptly if and when the following adverse scenarios emerge during growth program: The risk of running out of cash: The plan is to maintain very frequent month cash flow projections. Forecasts for income, expenses and unanticipated contingencies will be stated conservatively. Any periods of cash deficits will be remedied promptly by cutting costs to maintain a positive cash flow and profitability. A drop in sales or insufficient sales: 1. 2. 3. 4. Implement promptly remedial steps by cutting costs. Improve every aspect of product value, performance and image Seek out new ways to expand sales by questionnaires. Stick with this specialized business that I know best. Dishonesty, theft, shrinkage: I will implement inventory audit and low cash levels strategy. Business recessions: I will be prepared to promptly cut costs to maintain liquidity. I will also be on the lookout for good business opportunities during periods of adversity. Section 9 9.1 B T Handling Major Problems USINESS P LAN SECTION 9: GROWTH PROGRAM The policy in handling problems will be to identify and acknowledge problems promptly and honestly. The plan is to put the following policies into effect promptly if and when the following adverse scenarios emerge during growth program: The risk of running out of cash: The plan is to maintain very frequent month cash flow projections. Forecasts for income, expenses and unanticipated contingencies will be stated conservatively. Any periods of cash deficits will be remedied promptly by cutting costs to maintain a positive cash flow and profitability. A drop in sales or insufficient sales: 1. 2. 3. 4. Implement promptly remedial steps by cutting costs. Improve every aspect of product value, performance and image Seek out new ways to expand sales by questionnaires. Stick with this specialized business that I know best. Dishonesty, theft, shrinkage: I will implement inventory audit and low cash levels strategy. Business recessions: I will be prepared to promptly cut costs to maintain liquidity. I will also be on the lookout for good business opportunities during periods of adversity. Section 9 9.1 B T USINESS P LAN Section 9 9.1