INTRODUCTION
Setting up businesses, especially medium and small enterprises, is usually associated with so many uncertainties. Many do not understand the necessity for business proposals before commencement of envisaged entrepreneurial activities. Even those that understand it find it absolutely difficult to develop one. This has often times led to unexpected collapse of both medium and small scale enterprises. Business development strategies play a pivotal role in the success of all professional services.
When it comes to growing a firm, people’s accounting expertise will only take them so far. They need to take a hands-on approach to growing their business and brand, to encourage the loyalty of existing clients, as well as sourcing new ones. It's all about optimizing the client experience and building relationships.
. Essentially, business development accounting is anything that helps accounting professionals build relationships with prospects and clients that result in generating opportunities and sales.A lot of accountants undertake years of training and continually refine their skills to become knowledgeable and skilled at their craft. At the same time though, they fail to learn crucial business development skills. This results in most accounting firms not living up to their full potential. Another trap that accounting firms often fall into is the failure to embrace change by implementing new technologies into their business processes. However, technology can not only help you expand your client base, but also enable you more time to focus on further business development. Business development and client acquisition strategies can skyrocket growth, bringing in new clients and new business.
This course is designed to adequately expose students to basic requirements for business development, business proposal models and the skills required to prepare them. It will also enable students to acquire essential accounting skills for success in business. The course will also emphasize the need to comply with any statutory requirements both before and after commencement of the business. Business registration procedures as required by Corporate Affairs Commission will be highlighted.
Learning Objectives
The objectives of the course are to:
Describe basic requirements for medium and small scale business development.
Explain common reasons for incessant collapse of medium and small scale enterprises in Enugu State.
Describe the meaning of business proposal in the context of medium and small scale enterprises.
Explain the steps required to develop a good business proposal.
Present different types of business proposals and their features.
Describe key elements of business proposal.
Distinguish business proposal from other business reports.
Describe accounting skills for business success.
Explain statutory requirements for commencement of a business.
Describe corporate registration procedures.
Expected Learning Outcomes
On completion of the course, the student should be able to:
Enumerate at least five requirements for medium and small scale business development.
Advise on how to avoid common reasons for collapse of medium and small scale businesses in Enugu State.
Describe meaning of business proposal in relation to medium and small scale enterprises.
Develop at least two good business plans.
Prepare at least five types of business proposal and explain their features.
Describe at least six key elements of business proposal.
Explain at least two differences between a business proposal and other business reports.
Identify at least seven accounting skills for business success.
Enumerate at least four requirements before commencement of any business.
Conduct corporate registration procedures.
- Lecturer : DR ELIAS AGBO