1 Group Leader Md. Shahinuzzaman Roll No: 017 Reg. No: 01879 B.B.A. 6 th Batch P.S.T.U. Member Md. Farhad Roll No: 016 Reg. No: 01878 B.B.A. 6 th Batch P.S.T.U. Member Md. Kabir Hossein Roll No: 026 Reg. No: 01888 B.B.A. 6 th Batch P.S.T.U. Member Badiuzzaman Soaib Roll No: 043 Reg. No: 01909 B.B.A. 6 th Batch P.S.T.U. GROUP INTRODUCTON Generation- 9 Member Tuhin Sarker Roll No: 014 Reg. No: 01876 B.B.A. 6 th Batch P.S.T.U. Member Tusar Karmoker Roll No: 07 Reg. No: 01869 B.B.A. 6 th Batch P.S.T.U. Member S.M. Najmul Huda Roll No: 053 Reg. No: 02120 B.B.A. 6 th Batch P.S.T.U. Assistant Group Leader Kaustab Debnath Apu Roll No: 042 Reg. No: 01908 B.B.A. 6 th Batch P.S.T.U. Member Md. Abu Sayeed Roll No: 013 Reg. No: 01875 B.B.A. 6 th Batch P.S.T.U.
Transcript
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Group Leader Md. Shahinuzzaman
Roll No: 017 Reg. No: 01879 B.B.A. 6th Batch
P.S.T.U.
Member Md. Farhad
Roll No: 016 Reg. No: 01878 B.B.A. 6th Batch
P.S.T.U.
Member Md. Kabir Hossein
Roll No: 026 Reg. No: 01888 B.B.A. 6th Batch
P.S.T.U.
Member Badiuzzaman Soaib
Roll No: 043 Reg. No: 01909 B.B.A. 6th Batch
P.S.T.U.
GROUP INTRODUCTON
Generation- 9
Member Tuhin Sarker Roll No: 014
Reg. No: 01876 B.B.A. 6th Batch
P.S.T.U.
Member Tusar Karmoker
Roll No: 07 Reg. No: 01869 B.B.A. 6th Batch
P.S.T.U.
Member S.M. Najmul Huda
Roll No: 053 Reg. No: 02120 B.B.A. 6th Batch
P.S.T.U.
Assistant Group Leader Kaustab Debnath Apu
Roll No: 042 Reg. No: 01908 B.B.A. 6th Batch
P.S.T.U.
Member Md. Abu Sayeed
Roll No: 013 Reg. No: 01875 B.B.A. 6th Batch
P.S.T.U.
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July 12, 2009
To
Md. Zakir Hosen
Lecturer
Department of Accounting and Information Systems
Faculty of Business Administration & Management
Patuakhali Science and Technology University
Subject: Transmittal of the report on “Attitude towards sole proprietorship business”
Dear Sir
We are grateful to you that you have assigned us to submit the report “Attitude towards sole proprietorship business” as a partial requirement of the course “Introduction to business” (Course code- MST-111).
This report focuses on the “Attitude towards sole proprietorship business”. We engaged our best effort to discuss elaborately the various factors, which are very closely related with our topic.
We, therefore, would like to request you to accept our report. And at last, thank you for assigning us the report. We sincerely hope this report will live up to your expectation.
Sincerely yours
(Md. Shahinuzzaman)
Group Leader
On behalf of
(Generation-9)
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Table of Contents
Number Titles Page No.
1 Group information 1
2 Letter of transmittal………………………….………………………………………… 2
The business organization, in which a single person owns, manages and controls all the activities of the business, is known as a sole proprietorship business. They are playing a vast role to develop our economy and making easy our daily life. Here, in this report we have emphasized on the various attitudes of sole proprietorship. Different steps of sole proprietorship business to run the business are highlighting in this report .The Systematic way of this report gives us the chance to compare our academic knowledge with practical field. As a result we have selected some sole proprietorship business, which help us to acquire our practical knowledge on job levels in our professional life.
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OBJECTIVE OF THE REPORT:
With the advantages of business world as a student of BBA program, we should have to gather more knowledge about our course in practically that will help us in our future life. Every study has some certain objectives for which the study is made. A clear objective helps to prepare a well-decorated term paper in which helps to take the correct decision. So identifying the objectives is very much important. Our main purpose of the report is to know attitudes of sole-proprietorship business surrounding in Barisal city. My objectives of preparing this report are:
¤ To know attitudes of sole-proprietorship business. ¤ To know about the entrepreneur. ¤ To know about accounting system of sole-proprietorship business ¤ To know the present condition of sole-proprietorship business surrounding in Barishal. ¤ To know the present problems and solutions of sole-proprietorship business. ¤ To enrich practical knowledge about it.
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LIMITATION OF THE STUDY "To err is human". It is universal truth. No work in the world is complete without limitations. Though we have tried our best to make this report in favor of our honorable concerned course teacher, we have some limitations in preparing this report are as follows-:
¤ The scope of surveying shop was limited. ¤ Exact information may not be got from the survey. ¤ In some cases they are not willing enough to give information. ¤ There existed shortage of time because of the pressure of examination. ¤ They try to maintain their secrecy about their business. ¤ As we made the survey informally and without making the businessman pre inform. So
they had time consideration. ¤ Their given information did not match our questions properly.
¤ Lack of computer facilities.
¤ Lacking of experience.
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METHODOLOGY Without proper methods doing a partial job is very difficult to do. As we tried to make a rational report following the proper methods to finish our job with successfully. Every study is done on the basis of primary data and secondary data. Our presented report is related with primary data because for making this report we have familiar with field survey. Mainly, we have tried to make this report by following the information we have collected through field survey.
Some specific preparation has been taken by us to prepare this report. At first we have planned about the overall study. After that, an effective questionnaire we designed to collect likely data from the target of our group. Then we have collected data from all the given organizations. Then we have analyzed these data by group working. After that we have tried to make a report on present situation of those organizations. Here the process is given below:
Being assigned with the term paper
Making a questionnaire
Going to the real field
Collecting & analyzing the data
Preparing the final report
Submitting the report to the proper authority.
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Figure: The Reporting Process
INTRODUCTION
Sole proprietorship is called a business owned and managed by one individual. It is the oldest and most common form of private business ownership. Typically the sole proprietor owns a small service, such as a roadside produce stand, hardware store, bakery, restaurant etc. The sole owner, often aided by one or two employees, operates a small shop that frequently caters to a group of regular customers. The capital (money) is normally provided by the owner through personal wealth. The sole proprietor is usually an active manager, working in the shop every day. He controls the operations, supervises the employees, and makes the decisions. Some typical disadvantages are associated with sole proprietorship business. Yet this type of business is prevailing at every nook and corner of the world. More than 85% business is sole proprietorship business in our country.
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Advantages & Disadvantages of Sole proprietorship business at a glance
Advantages:
Ease of formation Owner receives all profits Freedom & flexibility in decision making Personal satisfaction Easy to dissolve Tax advantages
Disadvantages:
Unlimited liability Limited funds for expansion Lack of business & management skills Difficulty in attracting employees Limited life; Business lacks continuity
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Major findings of the study
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Questionnaires: Questionnaires are very useful part for making a report. Single set of questionnaire was used to collect information for study. Every attempt was made to make the questionnaire all-inclusive and all possible answers were given in the questionnaire.
In section number 1at this section provides information about proprietors. At this section mention different types of question about only proprietors e.g., name of the proprietors, educational level of proprietors, background of study, origin of the organization, value added tax and also asked a question e.g.
In section 2 at this section provide information about enterprise. At this section asked different types of questions to proprietors about their enterprise such as nature of business, trade license, sources of capital, collecting place, working year of the business, and last on is number of employees.
In section 3 is related to activities of the business man. At 3.1asked different types of general questions which is related for their business such as have any risk, types risk, taken step to reduce risk, insurance, their responsibility towards our society.
At stage 3.2 asked questions about their products, collection medium, demand of their products, advertisement, taken step to increase customer.
At stage 3.3 asked question about their sales record, purchase record, inventory record, expense record, etc.
At stage 3.4 asked different types of questions about their financial report, transaction amount with bank, amount of borrowing loan
In section 4 at this section provide information about the thinking of proprietor to the present market and economics condition. This section contains seven questions such affects of economic crisis in our country, Government responsibility, contribution of sole proprietorship, necessity of smartness for doing business, competition, etc
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SECTION 1: INFORMATION ABOUT PROPRIETOR Name of the businessman
Name of the business
Education qualification
Background of education
Origin of business
Source of capital
Inspirer Starting capital
Tax
Sahanur rahman suvo
Suvo travel
Hons. Commerce Self started
Loan Friends 1.5 lakh Yes
Rafique alam azad
Sargical and scientific store
Hons. Science Both inherited and self
Inherited Family 25 thousands
Yes
Kajal sarker Lovely jewelers
S.S.C. Arts Inherited Inherited Family More than 10 lakh
Yes
Munir ahsan Ahsan electronics
Hons. Arts Self started
Loan Own self More than 1 lakh
Yes
MD. Sawkat akbar
New popular watch and optics
Hons. Commerce Inherited Loan Family Below 1 lakh
Yes
A.S.M Raffee Mobile galary
Hons. Commerce Self started
Inherited Own self 2 lakh Yes
Mahbubur rahman
Mahbub library
Hons. Commerce Inherited Inherited Family Below 1 lakh
No
MD. Kamal talukdar
MRS. Kamal Beez vander
Below S.S.C. Commerce Inherited Both inherited and loan
Family More than 1 lakh
No
MD. Ishak molla
Molla pharmacy
S.S.C. Arts Self started
Own capital
Own self Below 1 lakh
No
MD. Salim Oli enterprise
Hons. Science Self started
Own capital
Own self More than 1 lakh
Yes
Figure: Survey Report about Entrepreneur
All the above information is collected by our group members who provide only proprietors.
While collecting data the owner say that they are very much conscious about their business. Most of them marginal educated and are commerce background. Some businesses are inherited and some are self started. Capital source of the businessman is own property and loan. Most of them are inspired by family & own self. They have capital 25000 from 1000000+. 70% proprietor pays their taxes. We can say it is okay information for sole proprietors.
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Section 2: information about enterprise
Name of the businessman
Name of the business
Types of products
Collecting goods
Transportation Employee Running year
Present capital
Trade license
Sohanur rahman suvo
Suvo travel
Bag, Belt, Sutcase etc
Dhaka water 3 employees
More than 10 years
More than 5 lakh
Yes
Rafique alam azad
Sargical and scientific store
Sargical instruments
Dhaka Land and water
2 employees
More than 30 years
More than 5 lakh
Yes
Kajol sarker Lovely jewelers
Jewelry Local and foreign
Land 2 employees
More than 20 years
More than 18 lakh
Yes
Munir ahsan Ahsan electronics
Electronics Dhaka water None More than 1 years
2 lakh
Yes
MD. Sawkat akbar
New popular watch and optics
Watch and optics
Dhaka Land and water
2 employees
More than 20 years
2 lakh
Yes
A.S.M Raffee Mobile galary
Mobile Dhaka Land 2 employees
More than 6 years
More than 10 lakh
Yes
Mahbubur rahman
Mahbub library
Books Local Land None More than 25 years
More than 1 lakh
Yes
MD. Kamal talukdar
MRS. Kamal Beez vander
Seeds Both Dhaka and local
Land and water
None More than 3 years
2 lakh Yes
MD. Ishak molla
Molla pharmacy
Medicine Local Land None 9 years 1 lakh Yes
MD. Salim Oli enterprise
Constructive Both Dhaka and local
Land and water
None More than 15 years
More than 3 lakh
Yes
Figure: Survey Information about Enterprise
A sole-proprietorship business or enterprise have some separate models or activities those are separate than other business. They sell various type of product. They collect their goods from Dhaka mainly. Some collect their goods from local areas. Some businessman has 2-3 assistant. Some have none. They run their business about 1-30+ years. They all have good amount of present capital. Their present capital is 1-18lakh. All sole proprietors have trade license.
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Section 3: Activities of the proprietor
(3.1)General:
Figure: Survey Information about General activities of the proprietor
From this table we can assume that….
Some general activities of sole proprietors contain in the table. Most of them have much availability of risk. Some have taken step to reduce risk. Some don’t any step to reduce it. It is a surprising news that 90% businessman have no insurance. But they show their social responsibilities to the society.
Name of the businessman
Business organization
Availability of risk
Step to reduce risk
Insurance Responsibilities to society
Sohanur Rahman Suvo
Suvo Travel Yes No No Yes
Rafique Alam Azad
Surgical & scientific stores
Yes Yes No Yes
Kajol Sarker Lovely Jewelers Yes Yes No Yes
Munir Ahsan Ahsan electric Yes No No Yes
MD. Shakwat Akbar
New popular watch & optics
No Yes Yes Yes
A.S.M Raffee Mobile gallery No No No Yes
Mahbubur Rahaman
Mahbub Library Yes No No Yes
MD. Kamal Talukder
MRS. Kamal Beez Vander
Yes No No Yes
MD. Ishaque Molla
Molla pharmacy Yes Yes No Yes
MD. Selim Oli Enterprise Yes No No Yes
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(3.2)Products:
Figure: Survey Information about Products
From above table we see that-Most of their products are single commodity and most of them collect their products from the whole seller. Some of them collect their products from distributor. About 90% have no vehicles. Most of their demand of products is high. Above 90% do not spend money for advertising their products. About 50% take step to increase the customers.
Name of the business man
Business organization
Kinds of product
Collection of product
Vehicles
Demand of product
Advertisement
Step to increase customer
Sohanur Rahaman Suvo
Suvo Travel
Verities Whole seller
No High No Yes
Rafique Alam Azad
Surgical & scientific stores
scientific Whole seller
No High No Yes
Kajol Sarker Lovely Jewelers
Single commodity
Whole seller
No Low No No
Munir Ahsan
Ahsan electric
electric Whole seller
No Medium
No Yes
MD. Shakwat Akbar
New popular watch & optics
Verities Whole seller
No Medium
No Yes
A.S.M Raffee Mobile gallery
Mobile Distributor No High No No
Mahbubur Rahaman
Mahbub Library
Single commodity
Others No High No Yes
MD. Kamal Talukder
MRS. Kamal Beez Vander
Single commodity
Distributor No Medium
No No
MD. Ishaque Molla
Molla pharmacy
Single commodity
Distributor No Medium
No No
MD. Selim Oli Enterprise
Single commodity
Whole seller
No Low No Yes
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(3.3)Account record:
Name of the business man
Business organization
Purchase record
Inventory record
Sells record
Maintain Expense record
Way of keeping record
Necessary payment &receipt
Keep Expense record
Sohanur Rahaman Suvo
Suvo Travel Yes Yes Yes Yes Formal Yes Yes
Rafique Alam Azad
Surgical & scientific stores
Yes Yes Yes Yes Formal Yes Yes
Kajol Sarker
Lovely Jewelers
Yes Yes Yes Yes Formal Yes Yes
Munir Ahsan
Ahsan electric
Yes Yes Yes Yes Informal Yes Yes
MD. Shakwat Akbar
New popular watch & optics
Yes Yes Yes Yes Informal No Yes
A.S.M Raffee
Mobile gallery
Yes Yes Yes Yes Formal Yes Yes
Mahbubur Rahaman
Mahbub Library
Yes Yes Yes Yes Informal No Yes
MD. Kamal Talukder
MRS. Kamal Beez Vander
Yes Yes Yes Yes Informal Yes Yes
MD. Ishaque Molla
Molla pharmacy
Yes Yes Yes Yes Informal Yes Yes
MD. Selim Oli Enterprise
Yes Yes Yes Yes Formal Yes Yes
Figure: Survey Information about Accounts Record
At the ending survey of this section we want to talk about hear most of the sole proprietorship keep their purchase record formally and above 90% keep their inventory record, sales record & expense record officially. About 50% keep their way of record informally. About70% proprietorship disburses their necessary payment.
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(3.4) Financial & Banking statement:
Figure: Survey Information about Financial & Banking Statement
Analyzing this section we find that….
More than 70% sole proprietorship keep their financial report formally & transaction with bank. About90% sole proprietorship has no comments about the amount of money of bank but all they have a bank account. About 60% people have no comments about bank loan & 40% have above the amount of 1, 00,000/=.
Name of the businessman
Business organization
Financial report
Transaction with bank
Amount of money in bank
Bank account
Amount of loan
Sohanur Rahaman Suvo
Suvo Travel Yes Yes No comments
Yes No comments
Rafique Alam Azad
Surgical & scientific stores
Yes Yes No comments
Yes 100000+
Kajol Sarker Lovely Jewelers
Yes Yes No comments
Yes No comments
Munir Ahsan Ahsan electric
Yes Yes No comments
Yes No comments
MD. Shakwat Akbar
New popular watch & optics
Yes Yes No comments
Yes No comments
A.S.M Raffee Mobile gallery
Yes Yes No comments
Yes 250000
Mahbubur Rahaman
Mahbub Library
No No No comments
Yes No comments
MD. Kamal Talukder
MRS. Kamal Beez Vander
No Yes 100000-200000
Yes 50000-100000
MD. Ishaque Molla
Molla pharmacy
Yes Yes No comments
Yes No comments
MD. Selim Oli Enterprise
No No 100000-200000
Yes 50000-100000
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Section4: INFORMATION ABOUT THE PROPRIETORS THINKING
STATEMENT 1:- Here we asked them about affects of economic crisis in our country. Most of them commend yes, our country is affecting slowly. One of them Kajol Sarker proprietor of LOVELY ZUELERS said that for the affects of economic crisis his per day sells fall from 10000 to 3000 and also said that the affects of it is vast in jewelry business.
STATEMENT 2:-Asking question of this statement is how our economy should be? In answering this question maximum answered that no commends because they have no experience about it and proprietor of SUVO TRAVEL said that it should be free from political control and corruption also in a systematic way.
STATEMENT 3:- In this statement we asked about what types of facilities Government should provide to increase this type of business? They answered a general commends that make tax free and easy way of licensing and give interest free loan. New popular watch & optics and MAHBUB LIBRARY said that proper supply of products and Ahsan electric said that it should proper current supply, legal rule modern transportation system.
STATEMENT 4:- we asked in this statement why Government should give more emphasis on this business? They answered that development of country may be the first step of Government. Sole proprietorship is the best way to it. MD. Ishaque molla proprietor of MOLLA PHARMACY said it can be the best way to remove it.
STATEMENT 5:- This statement contains what is the contribution of sole proprietorship business on our economy? They told it is one of way to remove unemployment and generate income. In our country 85% business is sole proprietorship business. Sahanur Rahman Suvo owner of the SUVO TRAVEL said for income generation it is the best type of business.
STATEMENT 6:-In this statement we asked what type of step should Government lunch to control inflation? Most of them answered Government
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should take step to control over market, syndicate and generate national income.
STATEMENT 7:- Our asking questions were you believed this business has big contribution to reduce unemployment? In this statement maximum of them comments yes.
STATEMENT 8:- Our asking questions were about the smartness of a proprietor in sole proprietorship business. They answered yes, it is very important for sole proprietorship business to attract customer.
STATEMENT 9:- Competition is everywhere in the world. Sole proprietor business is not out of this sense, most of them answered high competition for sole proprietorship is less than the ratio to consumer and variation among capital high and low.
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RECOMMENDATIONS: For completing this report on “Attitude towards sole-proprietorship business” we can recommend the following implications-
Our Government should show flexible attitude towards sole proprietorship for making suitable environment to do this single proprietorship business. Such as diminish of income tax.
All financial institution should give offer to enhance their business sphere with successfully. Such as interest free loan, unlimited amount of loan, make easy way to take loan, etc.
They should sphere their knowledge about modern business world to run the business. They should more conscious and take suitable plan to run the business.
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CONCLUSION: Besides some problems the sole proprietor provides our daily necessities in our door successfully. Our Government and society have some responsibilities to enrich their skill. Through forming and running this type of business the sole proprietor can be formed a large business organization. If any country makes suitable environment for doing this business it can be a great contributor for that country. We have operated our study on their organization to know how they maintain their business and we say that our motto is completely success as we hope. We prepare our report as a man can get enough idea about the sole proprietorship organization by reading our report.
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REFERENCES:
Information given by the sole proprietors’ owner in Barisal. Term paper format given our course teacher Zakir Hosen sir. Introduction to business, Md. Nazim Uddin Bhuiyan Introduction to business, Straub/Attner, new edition. Introduction to business,1st part, H.S.C. Md. Khalekuzzaman, Introduction to business, Skinner and Ivancevich Previous report
