Assignment On Live Biography of two Entrepreneur of Sylhet city

Course title: Entrepreneurship Development Course code: BUS-334

Submitted to:
Mr. Bashir Ahmed Bhuiyan Department Head Of Business Administration

Submitted by:
Name Md.Maidul Islam Nishita Roy Toma Safinaz Amin Anni Chy.Nasira Sultana Tasnia Humayra Shanu Uddin Rubel Nurul Amin Sajia Ahmed Chowdhury Roll 0901010017 0901010026 0901010028 0901010032 0901010042 0901010054 0901010229 0901010021

Section: A Leading University, Sylhet

Submission Date: January 4, 2012

Letter of Certificate
I am extremely pleased to declare that the following group of students has been given with the topic Live Biography of two Entrepreneur of Sylhet city for writing an assignment. They have reviewed all the relevant literature and have surveyed the assigned organization for collecting of both primary and secondary data. I have supervised them throughout the preparation of the paper.

I also certify that the paper is an original one and has not been submitted elsewhere previously for publication in any form.

I believe they will try to do their best in all phase of their live.

Mr. Bashir Ahmed Bhuiyan Department Head Of Business Administration Leading University, Sylhet

4th January, 2012 To, Mr. Bashir Ahmed Bhuiyan Department Head Of Business Administration Leading University, Sylhet

Subject: Letter of Submission

Dear Sir, We were given the topic Live Biography of two Entrepreneur of Sylhet city for writing an assignment for presentation and collection of primary and secondary data. To do so, we sought the relevant information in books, journals, and the assigned organization. We tried to collect all possible information and make this paper acceptable to all but there can be still existing mistake. So we like to request you to consider if any fault is found in paper. Lastly, we would like to request you to accepted our paper and permit us to present it before the panel of experts. Thank you in advance for your assistance and advice in this connection. Yours obediently

Name
Maidul Islam Nishita Roy Toma Safinaz Amin Anni Chy Nasira Sultana Tasnia Humayra Shanu Uddin Rubel Nurul Amin Sajia Ahmed Chowdhury

Registration no
0901010017 0901010026 0901010028 0901010032 0901010042 0901010054 0901010229 0901010021

Acknowledgement

We are very lucky that we have got lots of support or cooperation from various people while we were preparing this report. At first we express our respected our course mentor Mr. Bashir Ahmed Bhuiyan, Department Head of Leading University, Sylhet for giving us such an opportunity to prepare an assignment on Live Biography of two Entrepreneur of Sylhet city which is a great chance to increase our knowledge about training sector, particularly effectiveness of training.

We are also thankful Mr. Bashir Ahmed Bhuiyan and our classmate who helped us directly and indirectly to prepare this report.

Executive Summary:
Entrepreneurship is more than simply starting a business. The definition of entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value. This creation of value is often through the identification of unmet needs or through the identification of opportunities for change.

Entrepreneurship and economic development are intimately related. Schumpeter opines that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses. The growing interest, in the area of entrepreneurship has developed alongside interest in the changing role of small businesses. Small entrepreneurship has a fabulous potential in a developing country like Bangladesh. So, statistical data and its analyses of several countries show that small industries have grown faster than large industries over the last couple of decades. Large industries first lost jobs while small industries created new workplaces.

This assignment attempts to provide synopsis on Live Biography of two Entrepreneurs of Sylhet city. In this assignment we will also discuss about how they able to change their socio economic condition through the process of entrepreneurship. In this paper we will discuss about the problems they are facing in case of doing business and how they take strategies to get competitive advantage then there competitors.

Table of Content:

Topics
Introduction Objective of the study Limitation of the study Case 1: Bhowmick Jewelry Shop Case 2: Firuz Miah and Sons Conclusion References

Page No
1 2 2 3-17 18-23 23 24

Introduction
Over the last two decades, entrepreneurship has been amongst the fastest growing area of economic and business interest and research all over the world. If entrepreneurship is defined as a process of creating new and valuable things (Hisrich and Peters 1989) and if entrepreneur is someone who perceives and exploits opportunities (Drucker 1985) then entrepreneurial process is a major factor of economic development and the entrepreneur is the key figure of economic growth. The growing interest in the area of entrepreneurship has developed alongside interest in the changing role of small businesses. Statistical data and analyses of several countries show that small ventures grow faster than large firms, and over the last decades large firms lost jobs while small firms created new workplaces. In addition, small firms are found to be the major source of new innovations. This increasing importance is also due to some major changes in the business environment such as harsh global as well as local competition, sudden and unexpected alteration of the demand, the acceleration of the technological development, and consequently, the increase of risk. Innovation, immediate adoption and reply to changes, and entrepreneurial behavior have become vital not only for development but also for survival of the businesses. So we can say that Entrepreneurship development is extremely important for a countries progress. As a developing country like Bangladesh an entrepreneur can play grand role for socio economic development. Bangladesh Government tries its best to make available facilitating role for the development of Entrepreneur. As a student of business administration it is important for us to have a better knowledge in Entrepreneurship. For that reason we chose live biography of two entrepreneur of Sylhet city as our assignment topic.

Objective of the study: Primary objective: Our primary objective is to know about the live biography of two entrepreneur of Sylhet city.

Secondary objective: To know about the problem & barriers they face in case of doing business. The Opportunity of new enterprise development in Bangladesh. How Entrepreneurship expansion can help to develop socio economic condition of Bangladesh.

Limitation of the study: Though a very comprehensive and a well organized report has been tried to be produced but there are still some limitations present here. o Because of sensitiveness, the sector does not want to disclose information about the technical information, which led to the shortcomings of this assignment into some extent. o The authorities are so busy that they could not give us sufficient time for discussion. o There is a lack of available data regarding the assignment topic in Internet. o Have lack of experience about practical work.

CASE 1 Bhowmick Jewelry Shop

Profile of the organization:

Name of the founder: Rajib Bhowmick Year of the Establishment: 2004 Location: Shop 1 ZindaBazar,sylhet Shop 2 Alhamra shopping city, Chuhatta, Sylhet. Product: Ornaments Starting Capital: 2,57, 97,400Tk Total Employer: 20-25 Monthly Sell: 9, 00,000 tk. Tel-phone: 01711835669(mob) Open From: 10 am to 11:00 pm

Rajib Bhowmick
Starting with a capital of Taka 2,57,97,400tk in 2004, a young man of Sylhet has become a business tycoon. He started his journey in the business arena with a simple Jewelry business. And today he is the proud owner of two big well decorated well known jewelry shop.

Family Background
Their family was a joint one. He has only one sister. He is the eldest among the children. His father also was involved in jewelry business. He imported commodities from Dhaka and sold them in the local markets in Sylhet. From his family he got enough support to exercise his liking and he got enormous support from his family to start his own venture.

Educational Background
His brilliant educational career has made him different from other business man. He passed S.S.C. in 1994 from Aided High School and H.S.C. from M.C. College in 1996. Then he

completed his BBA and MBA in 2002 from Leading University, Sylhet. Though he has an enriched academic background, he did not have any knowledge or training in this business field.

A Brief on Jewelry
People started wearing jewelry, as symbols of something, be it power, religion, mysticism, status or profession. Not only was jewelry symbolic in design to announce to the world that the person wearing it was but mystic powers were also attributed to the stones and materials jewelry ornaments actually it creates the beauty of women from the far years ago tradition by tradition.

Adorning the women

Jewelry-no look can be complete without it. It is always womens best desire for any ages. Over the years many new materials with which jewelry is made as well as new designs have evolved. The jewelry a women wears define her personality and gives her a suave, elegant look. It is beautiful on its own and enhances the person wearing it. Women cant merry in our Asian tradition without wearing the jewelry ornaments not only the whole over the world women wears the jewelry ornaments to see them gorgeous, and its being their passion. Clothing fashion may change a once trendy clothing accessory may become out of fashion, but the popularity of every type of jewelry ornaments like gold, silver, white gold, pearl, diamond, platinum, stone setting jewelry, imitation jewelry and other type of jewelry has remained unblemished over the years.

Various types of jewelry ornaments

Gold-is the very delicious item in jewelry ornaments. The quality of gold considered the analytical aspects that mixing a particular quantity of carat with the pure gold, which is called carat to identify the purity of gold.24 carat is counted as pure gold. In the pure gold there have to mix carat for tempering the gold to make the different quality of ornaments like 23 carat,22 carat up to 9 carat can be make the ornaments 18 carat gold ornaments are very much favorite in European country. In Bangladesh as well as in Asia region 22 and 21 carat gold ornaments are most common in the market and get popularity for being the yellow color of it. In our tradition gold is used from the prehistoric time and it is must used in marriage ceremony, birthday party and the other valuable occasion as well as to looks women gorgeous. Traditionally the gold jewelry has adorned the hands, neck and ears of women in our region for generations. Women, especially married women have been known to wear gold jewelry, a necklace pear of bangle or abracelet, earrings, wherever they go. So gold jewelry is huge part of our culture that crates a large amount consume of gold. In the present market the selling price of 22 carat gold is Tk47,250 per 10 gram and 21 carat gold is Tk 45,500 per 10 gram. Making will charges extra. Whole over Bangladesh the price of gold is same and it is controlled by the government followed the price of international market.

Silver-has only one quality there has to mix particular amount of carat to make it hard for preparing the ornaments. When silver jewelry was produce in a large scale in the religion it was usually in the range of necklace, earrings, bracelets, rings, broaches, pins etc the price were generally small, sized to sell cheaply. As in the modern fashion, silver jewelry makers a lot of polish in the ornament, where as fifty or more years ago. The jewelry would live more areas tarnished, or darkened, to enhance details of the design. The best part of the silver jewelry is that wears well anywhere, anytime and wish amount any style of dress. Silver jewelry is by far the most popular in the present time. Women especially young women, do not consider there jewelry collection complete unless they have a variety of rings, bracelets, bangles, earrings and necklaces of this metal with universal appeal. The price of silver in present market is Tk 1400 per 10 gram.

White gold-the metal, which took like semi silver color and naturally hard then gold. It is made polish type of ornaments and most of time this metal is used to make the Diamond setting ornaments. The price of a ring of white gold started from Tk.3500. In Bangladesh the white gold is not favorite as jewelry ornaments. And it is not make yet in Bangladesh only some imported item it will get in the market.

Platinum-is a metal, which color is like steel and it is very costly to make the ornaments. It is very hard and used for most of the costly stone like Diamond, Rube, garcon etc setting jewelry ornaments has made. The price of platinum jewelry starts from Tk.15000 for a simple set of necklace and earring. In Bangladesh it imported from Hong Kong, China, Singapore, Thailand, and India.

Imitation-Is very favorite item for every lady. From various group of metal like bronze, silver, custard mixing together it prepares imitation. It is less costly and has the variety of design that women can purchase easily. And for various kind of design they fill very comfort to match with every dress. The imitation jewelry gets much popularity to every woman, teenagers now days the saving from the hijacker. Imitation also colored like the gold ornaments so it is also a substitute of gold ornaments. Varity of imitation jewelry the price starts from Tk300 to Tk7000.

Other types of ornaments-apart from the above ornaments there are different types of the ornaments like city gold, plated gold, pearl, and wooden and clay, crystal, bone, jewelry etc which has very excellent recognition for casual use. Besides this there are gold, silver and copper plated jewelry that is called fashion jewelry in our country. The type of this type of jewelry is very chef that started from 100 to 4000tk.

Financial Analysis Before starting business

Mr. Rajib Bhowmick starts a jewelry business that he always has to open a lucrative show room for the display and sales of ornaments. Regarding good faith and long term good will they are to purchase the place for show-room and the factory permanently owned basis.

Start up cost of a medium scale jewelry business firm:

For sales: Show room for sales and display (Minimum 140 sft. @TK.120000) Decoration Gold ornaments for display and sales 1200total@Tk.17,398 License and other other processing Others Total investment for show-room or sales center For factory: Factory place (min-300 sq feet @Tk.2000) Machineries and other equipments Gold stock for making ornaments 100 total@Tk17,398 (or equivalent 1166 gram) Total investment for factory Total require capital for investment in a medium

TK. 16, 80,000

5, 00,000 2, 08,77,600 35,000 15,000 2, 31,07,600 6, 00,000 3, 50,000 17, 39,800

TK26, 89,800

Scale of gold jewelry sales show-room and factory

TK2, 57, 97,400

Calculation of production cost 100 tola total gold ornaments:

Production cost: 22. Ct.gold 100 tola or equivalent 1166 gram@TK Wages (making, polishing, color and cutting, etc) Repair maintenance Depreciation Cost of production

TK. 15, 58,800 1, 40,000 2000 3000 TK.17, 03,800

Selling and administrative expenses: TK Rent Salaries Electricity Stationary Miscellaneous Entertainment Total sales and administrative expenses 800 22,500 3,500 2,200 4,500 2,500 TK. 36,000

Total cost of production

TK.17,39,800

Cost of production per tola=TK.17, 39,800/ 100 tola = TK. 17398

Calculation of profit: Sales:-100 tola ornaments@TK.18,275(equivalent 1166 gram) (The price TK.18,275 is included with making charge from 18,27,500

the customer of TK. 1200 per tola)

Less-production cost Gross profit Less-selling and administrative expenses

17,03,800 1,23,700 Tk.36,000

Net profit

TK 87,700

Net profit ratio: 87,700 18, 27,500 =4.798 or 4.7% 100

Break even Analysis: Calculation of fixed costs: Salary Rent Electricity Depreciation Total fixed cost (Note: depreciation is counted as fixed cost) Calculation of variable costs: 22 ct.gold 100 tola@TK. 15,588 (or equivalent 1166 gram) Wages Stationary Miscellaneous 15,58,800 1, 40,000 22, 00 2,000 22,500 800 3,500 3,000 TK.29,800

Entertainment Total variable cost Sales .18, 27,500 -variable cost17, 10,000 Contribution margin 1, 17,500

2.500 TK.17,10,000

PV ratio=

contribution Sales

100

=TK.1, 17,500 TK.18.27, 500

100

=6.429% or 6.43 approximately

Break even sales: FC PV ratio = TK.29, 800 6.43% =TK.4, 63,452

Break even sales of gold ornaments in total:

Tk.4, 63,452 18,275(per tola) =25.36 tola or equivalent 295.60 gram

Present condition of jewelry Business

The present condition of jewelry tread is very fragile. That due to the increase of gold price in international market has influenced the market of Bangladesh. Consequently the tread of gold is becoming a losing concern. The buyer of gold is losing their interest to buy jewelry according to demand farther reason of high price. Todays market the buyer of gold is losing their eagerness. The buyer who could effort to buy fifty gram of gold jewelry now a days he or she hesitate to buy twenty grams of gold. Besides due to inability of common people as well as the less essential purpose of use in gold ornaments the charm of jewelry tread is no more.

60,000 50,000 40,000 40,000 33,000 30,000 30,000 20,000 10,882 10,000 0 2005 2006 2007 2008 2009 2010 2011 18,375 25,600 48,000

Year
Figure: The increasing position the price of gold Here the graph shows that the increasing of gold price for last few years up to 2011.The price has increased step by step from the year 2005 to 2011.But uncertainly the price has increased in a high range. As a result the sale of gold ornaments has decreased in the market. The fall of jewelry: Lets turn from old scrap where jewelry is a source of supply to jewelry fabrication, which until recent years has been a steady and reliable source of gold demand.

Gold jewelry fabrication demand reached an all-time in 1997 at 3,342 tons and, since then, has been trending downward. This year, I expect worldwide jewelry fabrication demand will total little more than 2,100 tons. Much of the decline in jewelry off take has occurred since 2001 and reflects the substantial rise in gold prices both in U.S. dollar terms and in local currencies for many important geographic jewelry markets. With the continuing credit crisis and global recession, demand has also been hit hard by the collapse in retail sales, especially in the United States and Europe. In addition, and of importance to the near-term outlook, the steep decline in fabrication has been exaggerated by the running down of inventories on hand at manufacturers, distributors, and retailers. In general, I expect a modest recovery in worldwide jewelry demand, reflecting an improving economic environment in some of the developing markets especially India and China and supported also by some rebuilding of inventories . . . but this recovery will muted by the expected rise in the metals price over the next few years. Present position of goldsmith: Now a days the position of goldsmith is not satisfactory in respect of their earning .The demand of foreign made gold by latest modern technical machine has raised more than the local made jewelry and obviously decreasing the demand of local goldsmith. The manufacturing of jewelry is turned into less quantity due to rise of present gold price as a result in one side gold smith is losing their job and in consideration of earning there going abroad. In our country wages of gold smith is not sufficient in order to maintain their lively hood .The demand of Bangladeshi Gold smith in abroad has become a competitive one

Why International Price of Gold Greatly Increased

Gold is usually tool for investors to hedge as a hedge, under normal circumstances, when the financial crisis, international gold prices will rise sharply; crisis, when the economy resumes

growth, the international gold price increases will slow down. However, the global financial crisis has changed to some extent, the history of the international gold price changes, track, September 2008, when the global financial crisis and the world economy into a severe recession, the international gold price downward trend, the end of 2008 , the lowest international price of gold fell to 600 dollars / ounce; second half of 2009, when most countries have been out of recession, growth in world economic recovery, the international gold prices have seen a dramatic rise in a row within a year surpassed 1,000 U.S. dollars / ounce , 1100 U.S. dollars / ounce, $ 1,200 / oz and $ 1,300 / oz mark the four integers, and create the history of the international gold price record. After the crisis, the process of economic recovery in the world, why international gold prices will rise sharply it? From the current situation, mainly in the following four reasons: First, the pressure on the dollar; the second is the threat of inflation; third is the uncertainty of the recovery process; Fourth, the international gold market supply and demand changes. However, some economists believe that the international gold market is a bubble market, increase the risk of investing in gold. Soros also noted that recently, investing in gold is not absolutely safe, the price of gold rally will not last forever, because gold is a hedge against inflation, after all goods, not the best investment products and other commodities like gold are as rigid requirements.

Gold price in Bangladesh:

Price Date Update Gold Price Silver Price

Gold Price in Bangladesh Per Bhori 28.6.2011 22 Carat Gold - 48,000 21 Carat Gold - 46,000 Taka Taka .. BDT

Future Plans of Rajib Bhowmick Jewelry Shop

1. He has already 2 shops in Sylhet, so, he has a plan to expand his business by opening one more jewelry shop in Sylhet on upcoming years with a huge collections. 2. Basis on the increasing price of gold he has decided to add other types of ornaments including gold jewelry. 3. Mainly he is a traditional thinker business man and he always tried to portray those thought on his jewelry design. But knowing the changes of peoples taste, demand toward modified new design, he decided to appoint some new designer for that purpose.

Personal view of Rajib Bhoumikh

Jewelry industry is the traditional art in this country for thousand years. There are so many commercial establishments have grown based on this industry. This tread is started from ancient time. The tread of golden jewelry exists through traditionally dynasty. The change of time could not alter this industry yet style of business has been altered following change yoke. The designs of jewelries have been alerted following the demand of customers today. This industry has involved all most 25 lacks or more than that people of our country directly and indirectly. So many people have earned their livelihood through this industry. This industry is failed to grow a bright future up to satisfaction. The bright future of this industry is interfered due to increased price of gold in international market, low of wages of goldsmith, tendency of goldsmith to go abroad, to control over dishonest dealer, import of gold through illegal way which leads deceive income tax and revenue of government, to find out the ways of improving design and quality of gold for necessary completion with the neighboring countries. This industry cannot yield to proper position due to want of various rules and regulations conducted by the government. Through Bangladesh is a depending country on import, arts and crafts of Bangladesh has sufficient demand over the world. In that way the gold and silver jewelry can create a probable exporting industry for all the time to come. Ti is feasible to grow more export and create a prospective industry by the joint venture of government and dealer too.

Recommendation for implementation

Through the observation and study the whole condition of jewelry industry, jewelry traders, and the rules of government it could be suggest that the co-operation of the jewelry dealers and the government can take to yield proper initiative in the domestic market as well as it is feasible to earn more foreign currency by exporting and shall create a prospective industry by considering following implication: 1. First of all government should tends to import pure gold directly and arrange to distribute amongst the jewelry dealers through the schedule bank with certain steps creating security arrangement fulfill and also communicate commercial relation with other countries to make possible to exports. 2. To yield a good hope to employee our local goldsmith avoiding the tendency of going outside the country paying sufficient wages for their lively hood. 3. The government should from a monitoring cell to control over the quality of gold, dishonest dealer for selling low quality of gold ornaments carelessly as well as illegal import of gold ornaments. 4. It should be an institute in the country by the government or jewelry association to create modern and training center for new technology of making ornaments that it can the market of foreign country. 5. Government should arrange a gymnastic institute teaching over precious metal. 6. Jewelry traders also have to establish developed machineries, modern equipments to improve the technology that can competitive in domestic market and also in the international market. 7. The association of Bangladesh jewelers they should be more active towards their prospective industry.

8. The government should ease the commercial rules and regulation for possible communication to other countries towards the exports. 9. It is possible to earn more foreign currency from this industry if government ease the restriction and reduce import tax on gold and about precious stone like Diamond, Garcon as well as metal like platinum, white gold that the jewelry dealers can import directly and able to export after making the ornaments. On that regards it can be use of Export promotion Jones. 10. Above all there should be display center in Dubai and the other intentional for getting the prospective market of jewelry ornaments.

CASE 2 Firuz Miah and Sons

Profile Of the organization:

Name: Firuz Miah & Sons Name of the founder: Late Md. Firuz Miah Year of the Establishment: 1925 Name of the Director: Abdul Malik Location: Kastoghor Road, Mohagon Potty, Sylhet Trade no: 9925/4844 Product: Steel materials Starting Capital: 15,000 Total Employer: 20-25 Monthly Sell: 9,00,000 tk. Tel-phone: 0821-711753, 01711490123 & 01711399588(mob) Open From : 8:30 am to 10:00 pm

Abdul Malik:
In most cases, this is the common scenario of people who are not that much advanced in their education are engaged in business. In 1925 Mr.Firuz Miah started his business with only 1500tk in kastoghor Road, Sylhet. Within a little time he has become the dominant in steel manufacturing business. After his death in 1986 his elder son Abdul Malik takes over this business.

Early life:
Mr Abdul Malik was born on 1962. His father name is Firuz Miah and mothers is Hazi Agom BiBi. His father was also a businessperson and their economic condition was quite affluent.

Family Background
Their family was a joint one. He has five brothers and three sisters. He is second among the children. His father was involved in manufacturing business. He imported commodities from Dhaka and sold them in the local markets in Bangladesh. From his family he got enough support to exercise his liking.

Educational Background:
Now a days every Entrepreneur has a strong educational background but in this case Mr. Abdul Malik couldnt complete his education because of family responsibility comes into his head after his fathers death.

Professional Life:
In 1986 Mr. Abdul Malik takes over his Father business. On that time there was only one shop with single product manufacturer factory. But now he has included various types of process and equipment and expanded his factory product line as well as in 2001he bought another shop with a store house. Recently he bought another shop in Tilagor, Sylhet.

Products & Services

Product: Steel Materials Ice-Cream chemical One time products Cock sheet Plastic Dram Measurement set Spray Can Miter Scale Poultry tools

Most of the time they collect their row material from Bongsal, Noyabajar in Dhaka and also from Jobili Road in Chittagong.

Services:

They provide 5-10 year warranty on steel products. They provide 2% discount to their loyal customer. They provide cheap delivery services.

Profit & Monthly Income:

Per day sale of Firuz Miah & sons is about 30000 tk & their per day cost 25000 tk. So their monthly profit is 16%.

30000 25000 20000 15000 10000 5000 0

Per day sale Per day Product cost Net profit

Fi gure: Per day income of Firuz Miah & sons

Problem in case of doing Business:

For the price increase of the row material they face problem in product sale. For the new entrance the competition is rising. In case of provide quality product at low cost to customer they face great contest with competitor.

Ambition and Motivation:

His ambition is to be an established and big business person firstly in Mohagon Potty and then in Sylhet. This ambition drives him to involve in diversified types of business. Besides, to survive through honest means, to attain independence in operation, to be well-established in future he chose the way of business rather than any others means. Moreover, he was also inspired by his family members and relatives who were also involved in business.

Future Plan:
He has a plan to expand their product line. Again he wishes to buy some shop in all over the Sylhet city so that they can able to spread out their distribution network. He believes this would minimize the evil impact of middleman and maximize the profit for both the Customer and businessman like him. He has a wish to adopt automation to formulate his Organization effective. He also wants to provide facility of sale after service to its loyal customer. From that stage to now, he is here because of strong determination to have success. Besides, he believes that good presentation makes everything good to everyone.

Recommendation
They should adopt automation to get efficiency. They should provide some extra facility to their workers beside their payment to motivate them. They should maintain financial statement. They should export their products because they have great potential.

Conclusion:
An Entrepreneur is a person who fined the light in the darkness. They create new demands in the society. An Entrepreneur can able to screen new opportunities from various existing opportunities. In this report we have got two blend of different entrepreneurs process and how they exists or survive in this competitive market. We also got the answers of all entrepreneurial myths and how they are fighting to exist long time through changing their approaches after working on this paper.

References:

Collect information through the interview of the two Entrepreneurs. Collect data through the use of internet. Gather information from their financial report.