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good_hope [2018/07/29 08:10] (current)
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 + GOOD HOPE\\ ​ Ayet Grace is 29 years old. She owns Good Hope Enterprises. She says she is in business in order to take advantage of some business opportunity in the Market. She says she is in this type of business because it is profitable. She left school while in senior one. Her says her experience in business has made her learn the importance of record keeping in business. In this business she sells shoes – closed and open shoes for ladies. Grace has been in business for seven years but four in this present business. She is a sole proprietor. She says she prefers being a sole trade because she does not share the profits with anyone else.\\ ​ Grace got started in this business through her own savings. She had been working for someone before beginning her own business. She learned the skills necessary to run this type of business from friends. Grace says she records of every sale made by the business. She decides on what goods to provide by consulting her records. She has a written budget of the costs she expects to pay for the future business. She keeps track of her costs and profits because she has formal accounting practices.\\ ​ Grace knows her competitors. She is aware of their strength and weaknesses. She knows how to keep her pace with them so that she does not go out of business. She says she does some marketing for her business. She does this mainly by using her customers and the OBs and Ogs. Grace says her business is located where it is because she feels it can be easily accessed by her customers. Grace says whenever she needs business advice she consults experienced business people whom she trusts. She sometimes gets such help from friends.\\ ​ Grace says she has a business plan to operate her business. She also has a stated and written mission statement. She says whenever she realizes any profits, she makes sure she pays rent, and taxes if there are any unpaid ones, she ploughs some back into the business while the remainder she saves. Grace does not have employees at the moment and she says she will not need any in the near future.\\ ​ Grace gets her supplies from wholesalers in Kampala. She goes up to Kampala because the prices of the products she sell are very high from Gulu. She claims that if she buys stock from Gulu she would hardly make any profits. She says even if she makes the journey by bus she still makes some good profits. At good times, she travels to Kampala twice a month to get more stock. She says she gets information about the best people to buy from from her business mates. At this time she has some fixed suppliers. She buys from other suppliers only when the fixed ones have run out of stock. She always pays cash for whatever she purchases from her suppliers.\\ ​ Grace says her customers consists of fellow market vendors, ladies and some gentlemen from within and outside Gulu town. She has some fixed customers who always come to buy from her. This is true especially during the festive seasons. She says these customers select her over her competitors because she offers good prices for her products. She also says she brings good quality products. She treats her customers well to the extend that she gives some trusted ones goods on credit.\\ ​ Grace has some challenges in the business that she has to deal with:​\\ ​
  
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 +  * •rent is too high for her regarding the stock she has at the moment.
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 +  * •She does not have enough capital to invest in the business for optimal profits.
 +Grace says she will have this problem of rent unceasingly until sales improve. As for capital for investment, she says she could go for a loan but she is no comfortable with terms of money lenders. It may ruin her business instead.
good_hope.txt · Last modified: 2018/07/29 08:10 (external edit)