Chapter Page Acknowledgement .. Description of the Business . Justification of Location Selection of Appropriate Labour .

Sources of Fixed and Working Capital Role of the Entrepreneur .. Type of Production Levels of Production. Quality Control Measures. Use of Technology Linkages.. Potential for Growth Government Regulations .. Ethical Issues. Appendices. Bibliography.. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16-19 20

I would like first to thank God for giving me the strength to complete this Students Based Assessment. I would like to thank my teacher who was not just a source of information but also inspiration, my mother for her invaluable financial and moral support. For those I have not mentioned for your contribution, thank you.

Barts Car Rental & Garage Limited is a sole proprietor, transport-oriented company that will provide rental services to local and overseas customers year round for a minimum of one day and a maximum of twenty-eight days. The objectives of the business are seen as: To provide high quality service to our customers through the availability of the best kept cars as well as the provision of technical expertise. To ensure that employees are adequately trained and possess the requisite skills to deal with the issues associated in the auto industry. To dominate the market and get rid of existing competitors and the most important to make profits.

The business will be located at 12 King Street, Montego Bay. This location was chosen because of the close proximity to the Sangsters International Airport and potential customers will be considering the mode of transportation for themselves and family and we will offer pickup and drop-off services at no additional cost. Our location is close to the main road in the town and supplies from auto parts retailers will be easily delivered to the garage. There is also the availability of sufficient land space as we offer a full service repair facility comprising electrical, mechanical, auto body repairs, repainting and parking space for the vehicles.

Type of labour Car Specialists 2

No. of labour

Function To repair the mechanical defects of the vehicles. To repaint the vehicles. To repair the damaged bodies of the vehicles.

Rental Agent Owner Security Guard Janitor

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To provide customer service, offer sales incentives, answer phones. Manages sales reports, makes sales forecasts, pay workers To ensure the safety of all rental vehicles, personnel and property. To wash vehicles and clean premises.

The type of labour necessary is skilled because the business wants to have competent individuals to carry out their tasks and we strive to ensure that all individuals are adequately trained and skilled to undertake all types of repairs and maintenance of the vehicles which are highly technical and advanced.

The entrepreneur will obtain a loan of four million dollars from the National Commercial Bank which will be paid back by the sum of twenty five thousand dollars per month to acquire Fixed and Working Capital. Fixed Capital- out of the four million dollars, one million will be used to purchase Fixed Capital such as: machinery, equipment, fixtures and fittings. The land and building are personal property of the entrepreneur and will serve as collateral if the business is not able to pay its debt.

Working Capital three million dollars of the loan along with personal savings and inheritance amounting to twenty million five hundred thousand dollars will be used for the investment into stock which is the purchase of motor vehicles new and used from local car dealers. It will be used for the payment of salaries and for the efficient running of the business.

The role of the entrepreneur is to formulate a valid idea to start a business and organize the factors of production and bear risks to make profits. 6

Function of the Entrepreneur Planning- he is the organizer to conceive the idea of launching the product and to program the structure of the business.

Management- he is responsible for the management of the business. He tries to have a least cost combination of the factors of production.

Risk bearer- he faces uncertainty and bears risks in his business. Uncertainty comprises those risks against which it is not possible to insure.

Tertiary Production

This involves the provision of services to customers. Services can be direct where the customer and provider work together, indirect where the service is routed through others or commercialized pertaining to our business where we provide car rental services to the entire population of Montego Bay.

Domestic Level

At this level goods and services are produced which satisfies not just an individual but for the entire local area of Montego Bay.

To be updated - we will ensure that we are kept up to date with the latest technology in the automotive industry, and as such, our repair facility will be equipped with the required to deal with any defects in the customers vehicles.

Satisfaction of Customers - we will keep our customers satisfied by maintaining peak performance of our vehicles, the high levels of professionalism and the facilities we offer.

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GPS and Computer

GPS (Global Positioning System) - is used to enhance efficiency by recovering lost or stolen vehicles which are investments to the business and o not to make a loss.

Computer- to store customer information for future reference if they will want to use our services again and for the day to day operations of the business.

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The type of linkage is the forward linkage which will be established with the Sangsters International Airport. This will benefit our business as the airport will be supplying the business with potential customers who will be considering the mode of transport for themselves and we will cater to this service so we can earn foreign exchange.

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Internally- the potential growth internally is that we will provide not only cars for rental but also 15 and 29 seater buses to be available for tours and excursions and will provide bonuses on salaries for the employees every Christmas holiday.

Externally- the business establish a vertical merger with a local car dealer to sell used cars that will no longer be in the operation of the rental service and provide scholarships for the top Grade Six Achievement Test (GSAT) awardees from the Montego Bay All-age and Primary School.

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Government regulations dictate that businesses must be registered with the Registrar of Companies. A certificate of registration or license to operate our business is issued if the business meets the requirements needed. The business obtained a license from the Jamaica Automobiles Association to conduct business. Without being registered the business will have no proof of legality and the government has the right to close the business because they see it as an illegal activity.

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To ensure that all vehicles are kept up to date with the required safety standards as safety is a very vital feature in the business operations. If we rent a faulty vehicle to customer and an accident is resulted from the fault we will be responsible for the injuries of the customer and those persons who were also injured from accident. This will have a negative impact on the business as persons will be turning away from our services because they are in fear of their lives.

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Barts Car Rental & Garage

Planning to have a trip for family and friends??? Trouble finding a car??? Car problems???

Well come on down to Barts Car Rental & Garage!!!

We provide the most reasonable prices of vehicles and we provide the convenience of any type of vehicle that will suit your needs and our garage will cater to any problems of your vehicles. Location: 12 King Street, Montego Bay Reservations: 976-5434 Cell: 354-3124/843-9075 Email: info@bartscarrental.com Website: www.bartscarrental&garage.com

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WE GUARANTEE THE BEST PRICES & SERVICES!!!!

Toyota Corolla 2005

Toyota Hiace 2005

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Toyota Coaster 2004

Toyota Altis

Toyota Noah 2007

Nissan Tiida 2004

Cost per day of each vehicle:

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Toyota Corolla Altis - $4000 per day. Toyota Corolla 2005 - $2000 per day. Toyota Noah 2007 - $3500 per day. Nissan Tiida 2004 - $2000 per day. Toyota Coaster 2004 - $5000 per day. Toyota Hiace 2005 - $3500 per day.

Whitcomb, Allan, and Macpherson Barnes. Essential Principles of Business for CSEC. Pearson Education Limited 2006. Printed. Seunarine, Sam. Principles of Business for CXC fourth edition.

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