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STARTING A
SMALL SCALE
BUSINESS
TRAINING MANUAL
BOOKKEEPING ..................................................................................... 16
STARTING A SMALL SCALE BUSINESS
A business can be defined as an organization that provides goods and
services to others who want or need them. A small scale business can be
said to be one that requires a small amount of capital to establish it, this
system in operation.
BUSINESS MODELS
There is more to deciding on the right business other than settling on the
From Scratch
owned by one person. The owner may operate on his or her own
democracy.
REGISTERING YOUR BUSINESS
Once it is decided what form of business you would be starting the next
business is registered
3. You can only have a company bank account when your business
is registered
5. Once your company begins to grow and expand you will need to
capital for the business will be. Most companies start with a million
shares.
The registration process begins with the name search which is legally
searching whether the name the business owner has chosen is available or
is been used by another business owner. Once this is completed and the
However some business owners find it easy to start and complete the
would require certain information that only a lawyer can provide. Also
the time for registering the business yourself takes longer than if you had
clients will be and where they can be found. There are different ways of
identifying your clients but most important is the fact that as these clients
and lasting first impression, so much so that the name of your business
will be remembered and you will be contacted for the services you render
The best way to get this done is to have at your disposal company sales
materials and a good sales pitch that will catch the prospective client’s
attention. You could also introduce your business by sending out letters
have duly registered your company and have identified your customers
This has been made somewhat easy with the introduction of a lot social
The possibility of how you can get your clients is endless and in most
cases does not cost you much. However the methods of getting clients can
1. Letting your friends and family know about your business and
commission)
2. Discussing your services at events and giving out company sales
materials
follow-up
prospective clients
as he/she alone has a concise understanding of the business and how the
knowledge of how it’s done and what clients would expect. When this is
done it is advised that the business owner paints a picture of the business
1. Cover page
2. Introduction
3. Core values
5. Corporate mission
7. Our clients
8. Our team
9. Charges
etc.) nicely so that they make the office look more attractive.
• Make sure that the reception area, however small it may be, is
people.
not in the office, the Administrator (or Secretary, if the office has
one) should write down the name of the person who called, his or
her telephone number, the time and date of the call, and any
message. The person who took the message should also sign her
name.
date of their visit. Some visitors will just give a business card; the
Administrator can also write down later with whom that person
list.
records are an extremely important tool for managing the inflows and
must be maintained to satisfy the Internal Revenue Service for income tax
reporting, however, the need for good record keeping goes beyond the
sales are easily determined, cash needs for payroll or outstanding bills are
No two sets of financial records are the same. However, the basic format
includes:
3. A Sales Journal
6. A General Journal
There is also the need to have a financial statement for the company to
show the growth rate and the prospect of the business. The financial plan
is also used to plan the future of the company over a period of years and
how many clients the business expects to get within a certain period of
time.
1. A Balance Sheet
2. An Income Statement
nothing more than a diary or logbook. The purpose of the diary is to keep
the Sales Journal, you keep track of all your sales in the same diary, which
Journal.
LEDGER BOOKKEEPING
spent
journal
d by
materials for
chair covers
Island
(Idumota
market for
supplies
by
(Miss
Davids)
method
wedding Davids)
company end
of year party
ACCOUNTS RECEIVABLE JOURNAL
Receivable
decoration 25,000.00
materials
BY
GENERAL JOURNAL
covers
(Idumota market)
wedding Davids)
account
in bank
account
company end of
year party
evnts)
Invoice
Date[Enter a date]
[Your company slogan] Invoice #[100]
Subtotal
Sales Tax
Total
Description Amount
S UBTOTAL
DISCOUNT(S)
TAX
TOTAL
Receipt No.:1002
Description Amount
SUBTOTAL
DISCOUNT(S)
TAX
TOTAL
Receipt No.:1003
Description Amount
SUBTOTAL
DISCOUNT(S)
TAX
TOTAL