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Please view explanation and answer below.heey buddy here we gooالمملكة العربية السعوديةوزارة التعليمالجامعة السعوديةاإللكترونيةKingdom of Saudi ArabiaMinistry of EducationSaudi ElectronicUniversityCollege of Administrative and Financial SciencesAssignment-1MGT402 – Entrepreneurship and Small BusinessDeadline: 12/03/2022 @ 23:59Course Name: Entrepreneurship and Small Student’s Name:BusinessCourse Code: – MGT 402Student’s ID Number:Semester: IICRN: 23617Academic Year: 1443/1444 HFor Instructor’s Use onlyInstructor’s Name: Dr. Samreen AkhtarStudents’ Grade: /10Level of Marks:Instructions – PLEASE READ THEM CAREFULLY• The Assignment must be submitted on Blackboard (WORD format only) viaallocated folder.• Assignments submitted through email will not be accepted.• Students are advised to make their work clear and well presented, marks may bereduced for poor presentation. This includes filling your information on the coverpage.• Students must mention question number clearly in their answer.• Read carefully Grading Rubric for specific criteria: 0-5 Marks• Late submissions will NOT be accepted.• Avoid plagiarism, the work should be in your own words, copying from students orother resources without proper referencing will result in ZERO marks. No exceptions.• All answered must be typed using Times New Roman (size 12, double-spaced) font.No pictures containing text will be accepted and will be considered plagiarism).• Submissions without this cover page will NOT be accepted.Entrepreneurship and Small BusinessASSIGNMENT -1Submission Date by students: Before the end ofWeek- 7thPlace of Submission: Students Grade CentreWeight:10 MarksLearning Outcome:1. Demonstrate a solid understanding of the potential of entrepreneur in today’s competitive businessworld. (Lo 1.2)2. Demonstrate ability to think independently and systematically on developing a viable businessmodel (Lo 1.3 #038; 3.7).3. Understand the place of small business in history and explore the strengths and weaknesses ofsmall business. (Lo 1.1).Assignment Workload:This assignment is an individual assignment.An entrepreneur Start-upBusiness PlanA business plan is any simple plan, not only limited to the business start-up plan that helps themanagement to understand the current situation of the enterprises (strengths, weakness, opportunitiesand threats) and look forward into the future. A start-up plan is a business plan which consists of themission, vision, objectives and action plans for the future of the new enterprises while the businessplan drawn during the operation of the firm is vital for running the firm effectively, acquire newcustomers, partners, loans and so on. According to Fiore (2005), a business plan involves twodimensions; an organizing tool to simplify and clarify your business goals and strategy, the secondone is a selling document that sells the business idea and shows that a product or a service can makea profit and attract funding and company resources.Imagine you started a new business as an entrepreneur in Saudi Arabia. Briefly mention the specificsteps which you consider necessary to a successful business plan.Please, think and share information on the following items:1. Owners, capital structure and company profile (1 Marks)Business Name: Hussein #038; Company Associate.Address: 21st street Riyadh, Jeddah Region.E‐Mail: [email protected] of ownership: What is the legal structure? Sole proprietor, Partnership, Corporation….Hussein #038; company associate will be a sole proprietorship form of business.C. Investment capitalI intend to use SAR 2.5millions as the investment capital. SAR1.5million from my savings and theother SAR1million will be from the bank loan.2. Company Business Description (300 – 400words)Hussein #038; company Associates is an auditing and business consultancy advisory firm. The firm islocated along 21st street, Riyadh, in the Jeddah region. Hussein 7 firm associate offers services suchas auditing and business advisory consultancy both to small and large scale business owners. Themain motive of doing this is to ensure that the entrepreneurs are in a better position to account for allthe revenues and the expenses they incur. The firm has a team of qualified professionals with a keeninterest in offering quality and high standard services for our clients anytime since we also have avery strong online presence whereby clients might reach out to us anytime from any place. Thecompany website is www.hussein.org.This firm was founded after noticing that youngestentrepreneurs and SMEs were facing the greatest challenges such as legal issues since most of themdo not have knowledge about the filing of the government statutory returns, and also poor fundsmanagement due to a lack proper guidance and information on how they should manage their funds.These issues mostly were arising due to the high fees that most firms around the area charge for theirservices. Hussein #038; company associate firm is one of the very few firms you can trust with on-timedelivery of services that are very unique and are of a high-quality standard. The firm’s main motive isnot after manipulating the clients but ensuring that our clients are benefiting from the kind ofservices we offer so that we can walk together into this journey. Therefore, some of the benefits andreasons you should choose Hussein #038; co…
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