Uniport GES 400 Entrepreneurship Project Workbook Answers Guidelines – An entrepreneur is an owner of a business, a manager of a firm, an organizer. He is the one that joins other factors of production to produce a particular product for the satisfaction of human want. Entrepreneurship Project is organized by Universities and other institutions to help students become entrepreneurs and earn money even after graduation. This article will guide you on how to write Entrepreneurial Project Report for yourself or for a group.

Uniport GES 400 Entrepreneurship Project Workbook Answers Guidelines Part I

Entrepreneurship is the act of being an entrepreneur. It refers to the efforts of an individual who takes risks in carrying a successful enterprise. Uniport for instance does GES 400, Entrepreneurship Project to help make students entrepreneurs based on their specialty after graduation.

Uniport GES 400 Entrepreneurship Project Workbook Answers Guidelines Part I

Title: Write the title of the project

Aim: To produce sanitizer

Introduction: This page contains the overview of the entrepreneurship project. Write something about the product and other tips to elaborate it. You can as well add the importance of the product to the society, humanbeings, yourself. Also, how it can be used to satisfy human wants.

Materials/Equipment: This is the page where you list all the materials and equipment you used during the production process accordingly

Methods/Procedures: This page contains information on the the methods you used to produce that product from the first step to the last. Remember to put it in past tense so that it will be as if that is the step you really used to make the product.

Questions and Answers on Entrepreneurship Project Workbook

7. What is the cost of your product in comparison with the cost of similar product in the market?

As a new product that has not made name yet, there is need to reduce the price to an affordable rate lesser than that of the competitors or other producers of such product.

8. What alternative material/equipment can you use to make your product/service cost effective?

For cost effective, the materials for the production can be produced locally.

9. Write a detailed budget for your business

2/3 cup 99% rubbing alcohol (isopropyl alcohol) or 190-proof grain alcohol – N5000

1/3 cup pure aloe vera gel (preferably without additives) – N3000

8 to 10 drops essential oil, such as lavender, clove, cinnamon, or peppermint – N500

Mixing bowl – N200

Spoon – N100

Funnel – N100

Plastic container – N200

Total – N9,100

10. How will you access the capital needed to start this business?

Capital can be sourced from your savings, family, friends, bank loans and overdraft and grants and loans from the government.

11. Who are your potential customers and key competitors?

My potential customers are those that needs my product. Now that there is an invading coronavirus, everyone needs hand sanitizers.

The key competitors are those that companies that produce same product with me such as pharmaceutical companies.

12. Have you assessed the strength and weaknesses of your key competitors?

The strength of my competitors is that they are already known and their product is already in the market. Their weakness is that most of them do not bring their product to the door steps of their customers and their prices are high.