PROPOSAL SUBMISSION FORMAT

INTRODUCTION
This document provides the format for submitting a proposal for GroFin assistance. Every entrepreneur
will find him or herself at different stages of developing their business concept. Some may have a full
business plan while others may just have started conceptualising their idea. By presenting GroFin with as
much as possible of the information requested below, an assessment can be made to determine what
assistance GroFin can provide and how advanced the entrepreneur is in developing their business and
supporting business plan.
Throughout the document there are notes (mostly by way of questions) to assist the entrepreneur. These
can be deleted and the relevant business information can be inserted.

Important note: ALL information/documentation listed at the end of the application form
MUST accompany the proposal.

Basic information
• Synapses
• 5, Ugbeji Aki Street, Mende. Maryland.
• Dr. Segun Ebitanmi
• Contact detail (08067644530, segunebit@[Link], segunebit@[Link],
drsegun@[Link] , [Link] )

1. Business Description

1.1 Background

• History
o Is this a new or existing business? If new, explain how the opportunity was identified. If
existing, when was it established, what products and/or services are currently offered,
where is it located, what is the revenue/turnover, how many employees, and are financial
records available?
• Goals
o Explain the reason(s) why this business opportunity is being pursued.

1.2 Core activities of proposed business

Describe the main business activity.

1.3 Location

Discuss the physical location of the proposed business in terms of region, city, town and
infrastructure (roads, communications, etc.), as well as distances from nearest main centres.

1.4 Product and/or service description

• Detailed description
o What products and/or services will be manufactured or sold?
• Existing customer behaviour
o What products or services are potential customers currently using to fill the identified
need?
• Expected change
o Will potential customers change from existing products to your products and why? What
is required to convince them?

GS5 Proposal format guidelines

 GS5 Proposal format guidelines

1.5 Suppliers

• Name existing or potential product suppliers

• Location
o Where is the head office and local branches?
• Experience and reputation
o How have you assessed the experience and stability of the supplier and the quality of
their products?
• Agreements
o Have you entered into an agreement with a supplier?
o Have you agreed on purchase prices and if so what are the prices?
o What guarantees does the supplier offer for the products?
o What is the delivery schedule?
o What training can the supplier make available?
• Alternative suppliers
o Do you have any alternative supplier(s)?

1.6 Ownership structure

• Shareholders/owners
o List the shareholders and/or owners and describe their role in the company.
• Shareholding
o What share percentage does each person hold in the company?
• Contribution
o What will each shareholder contribute (e.g: cash, experience, contacts, time, etc.) to the
business?

1.7 Legal considerations

• Statutory/legal requirements
o Are you aware of any legal requirements to start and operate the proposed business?
 Company Registration
 Trading licence
 Tax registrations
 Other
• Permits and or Licences
o Are you aware of any permits or licences that are required to operate the business? Have
they been secured? If not, how far are they from completion?
• Environmental permit
• License from energy regulatory authority
• Agreements
o Are there other crucial agreements that must be finalised? If so give details.

2. Opportunity

2.1 Customer description

• Multiple Customers (households, institutions and/or other businesses) - if institutions,

describe the typical type, size, location. If individuals or households, describe the potential
customer in terms of income level, age, gender.
• Single or Small Number of Customers (National Utility/Large Industrial Company), describe in
terms of their type, size and location.

2.2 Geographical area where the product or service will be offered

Describe the geographical area that you will service – country, region, town? Why did you choose
this area?

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2.3 Total customer potential

• Potential customer base

o How many potential customers are there in the geographical area that you intend to
operate?
• Typical spending on product/service
o What are the customers currently spending on similar products or services to satisfy the
need?
• Target Customers
o Based on the identified number of potential customers what percentage of these
customers will support your business?

2.4 Competition

• Name your competitors (direct and indirect) and the products and/or service they offer.
• Describe your competitor’s core business or business activity (including those with which you
will not compete).
• Where is each competitor located?
• What are their geographical areas of operation?
• Give each competitor’s history, track record and success to date.
• What marketing methods do each use?
• Discuss each competitor’s strengths and weaknesses.

2.5 Competitive advantage

Defend why your proposed business will succeed, what will make it different or better than its
competitors?

2.6 Strengths and weaknesses

Objectively discuss your proposed business’s strengths and weaknesses. Be as thorough as

possible.

3. Marketing

3.1 Costing and pricing

• Cost Price
o How much will the products cost your business? Total cost includes direct cost from the
suppliers and all other costs up to the point where it reaches your premises (take account
of the costs associated with shipping, freight, taxes)
• Method of pricing
o What is the estimated cost price and selling price and how was it calculated?

3.2 Sales projections

• Unit sales
o Explain how many units are expected to be sold per month and why you think that it is
realistic.
• Increase in sales
o How do you expect sales to increase over the short and long term?

3.3 Marketing plan

Explain what marketing actions will be employed to achieve the expected sales. Below are a few
possibilities:
• Advertising
• Promotion
• Display

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• Representatives
o How frequently will each action be taken and what costs will be associated with each?

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4. Operations

4.1 The entrepreneur(s)

Discuss the entrepreneur’s background based on the points below:

• Work history
• Previous business experience and knowledge
• Technical expertise and knowledge of the product or services you intend to offer

4.2 Key operational functions

Describe how the business and its various departments will function. Depending on the type of
business and its complexity, the following headings could be used:
• Procurement of product
o Are products manufactured or purchased? How will the business interact with suppliers to
acquire raw material or products?
• Manufacturing
o If a manufacturing concern, describe the manufacturing process in detail. Indicate the
steps, technical process, time taken, skills required, quality control.
• Service
o If a service is delivered, describe the steps and processes involved.
• Stock control and distribution
o Discuss recordkeeping of stock, storage, stock levels, distribution.
• Marketing and sales
o The marketing plan is already described in paragraph 3.3. Now describe how this
department will function on a day-to-day basis, including any after sales service.
• Administration and accounting
o Discuss the admin process and requirements. Describe the accounting requirements,
documents to be used, capturing of information and financial controls/reporting.

4.3 Personnel

Discuss the entire personnel contingent with emphasis on key personnel:

• Name(s) of person responsible for each function/department (key personnel).
• Work history and experience of key personnel.
• Names and job descriptions of remainder of personnel.

5. Technology

5.1 Technology choice

Briefly describe the technology to be used.

5.2 Applicability of technology

Why is this technology appropriate for the application?

5.3 Evidence of application

Has this technology been applied before? Give details of where and when.

6. Finance

6.1 Revenue

What is the estimated revenue/income of the business for the next 3 years?

6.2 Expenses

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What are the estimated expenses of the business for the next 3 years?

6.3 Financial projections

• What is the expected profit for the next 3 years?

• Explain what the cash position of the business will be, how much cash it will require before it
is producing positive cash flow and how long it will take.

6.4 Finance required

Description Own funds GroFin funds Other funds Total

Start-up costs
Land & buildings
Plant & equipment
Office furniture
Vehicles
Working capital
Total
Contribution % % % 100%

The finance required for the business can be presented using a table similar to the above
example. Give full details on what the amounts will be used for as well as where the proposed
financing will be sourced.

7. Supporting Documentation

Attach any document that you feel could be useful to motivate any particular argument or that can
contribute towards a better understanding of the business proposal. In particular, please attach:
• Copy of permits, contracts and/or agreements already finalised;
• If an existing business:
o financial statements for last 3 years;
o management accounts not older than 3 months.

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