The entrepreneur and the task ahead. What type of business to choose. Service business. Franchising. Manufacturing. Retailing. How to assess a business opportunity. Success: the critical factors. Description of the business. Critical look at the product. Initial market survey. Know-how and skills required. Financial base. Operating expenses and cash flow. Government and other regulations. Locating the business. Rental agreement. Sales forecasts and budgets. Boom or recession. Reputation. Adequate staff. Business plan. Developing your strategy. Mission statement. How to research the market. Creating an industry profile. Market profile. Drawing up the marketing plan. Market research. Surveys. Calculating market share. The product or service. Pricing and promotion. Promotion and advertising. Cost of promotion. Product distribution. Marketing mix and the marketing plan. Overall marketing strategy. Pricing policy. Sales tactics. Service and guarantee policies. Advertising and promotion. Production plan. Competitive advantage of the small manufacturer. How to plan production. Layout of the plant or factory. Production methods, standards, and quality control. Production goals. How to control production costs. Getting the production plan together. Staff: how to find, keep and motivate them. Organization chart. Labour force planning. Finding the right staff. Motivation. Training. Effective communication. Legislation. Making use of outside resources. Staffing plan. Financial record-keeping. Financial records. Financial statements. Balance sheet. Income statement. Source and application of funds statement. More about financial analysis. Ratio analysis. Liquidity ratios. Solvency or leverage ratios. Profitability ratios. Activity ratios. Break-even analysis. Stock control systems. Stock valuation. Storekeeping and materials handling. Credit and cash flow management. Assessing credit-worthiness. Cash management. Cash budget. Purchases on account. Preparing the financial plan. Budgeting. Capital investment. Financial leverage. Types of funds. Financial plan. Planning your profit. Final business blueprint. Overall business plan. Pitfalls, and how to avoid them. Uncertainty. Human factor. Forms a business can take: the company. Difference between a public and private company. Advantages of forming a company. When can a company begin doing business? Other implications of registering a company. Name of a company. Share capital of a company. Directors. Office-bearers. Members of a company. Company resolutions. Meetings. Submitting annual returns to the Registrar. What fees are payable? Close corporation. Implications of forming a close corporation. Formation procedures. Association agreement. Accounting and disclosure. Planning your tax. Income tax. Income tax deductions. Expenditure that cannot be deducted. What is an assessed loss? Export incentives. Value-added tax (VAT). Are close corporations liable for tax? Some legal aspects of running a business. Essentials of a contract. When is a contract terminated? Other laws and regulations. Registration. Legislation affecting employees. Forms of short- and medium-term finance. Short-term finance. Medium-term finance. Sources of finance (institutions). Private sector. Government-sponsored institutions. Small Business Development Corporation. Financial assistance. Other programmes. Development services. Information bank and publications. Provision of business services. Regional Industrial Development Programme. Decentralization incentives. Requirements of the RIDP. Spatial application of the new RIDP. Monitoring the progress of business under the RIDP. National Productivity Institute. Small Claims Court. Instituting a claim. Institute of Accounting Technicians.