Creative Business Names

Project ID: Received On: Project Manager: CREATIVE BUSINESS FUND Implementation Plan (Annex A) (PROPOSED NEW BUSINESS’S NAME) (dd/mm/yyyy) 1 Note: All fields in this form must be filled up. Insert “NA” or “NIL” where applicable. Incompleted forms will not be processed. 1: CONTACT INFORMATION Name: (Business project leader) Designation: Organisation: http:// Email address: Contact no: Mailing address: Singapore Type of Organisation1 Registered Society/ Sole Proprietorship/ LLP/ Pte Ltd/ Ltd* If others, please specify: *Please delete where appropriate. (Office) (Mobile) Date of Registration/ Registration no: Describe briefly your organisation’s current works & full-time staff strength: 2: PARTNERS INVOLVED IN THE NEW CREATIVE BUSINESS Please fill in this section if the new creative business involves partner(s) external to your organisation. Name(s) of partner organisation(s): Partner(s)’ Website(s): http:// Describe briefly the current works of the partner(s) and their proposed roles in the new creative business: 3: THE BUSINESS MODEL Description of New Business Describe the business in detail, including the business model. What are the creative business's goals and objectives? What is its relevance to the Creative Industries? (Please ensure that this is a NEW business area, not expansion plans for existing businesses). Please provide a listing of the core business activities for this new venture that will be carried out in Singapore. If there are any key overseas business activities, please state them. What is your role in this new business? Strategic Position & Competitive Edge Describe your business strengths and core competencies. What factors will make the creative business succeed? What is the market gap(s) that the business is addressing, if any? 1 Singapore incorporated company, Singapore registered business/limited liability partnership or Singapore registered society. Please state % of local shareholding/partnership in the organisation. 2 3: THE BUSINESS MODEL Intellectual Property Describe the type of IP your creative business will be creating. How would you protect the IP and exploit it for business growth? Targeted Market & Customers Describe your customer profile and why they would want or need your product or service. What is your gauge on the level of demand? Has a market survey been conducted to assess the level of demand? Products & Services Describe in depth your products or services. What are the benefits it brings? What is the competitive edge or even disadvantages against any existing solutions? (e.g. quality, unique proposition or proprietary features etc.) Pricing & Profitability What are the prices at which you plan to sell your product or service? Considering all factors, explain how you arrived at this pricing structure, and how it would be profitable. Describe any unique qualities or circumstances concerning your product or service that will maintain profitability. Growth Trends In This Business Describe your industry and the growth prospects. What changes do you foresee in the business and industry within the short and long term? How will the creative business be able to benefit from them? GROWTH PLANNING Expansion Planning for New Creative Business Describe your growth plans: You might include sources of financing, cash flow projection, increase in capacity/ product range, incentive compensation plan for managers, benefits package and policies, economics of scale etc. Scenario Planning Describe possible scenarios of adverse business conditions that could affect your business (e.g. SARS, manpower crunch, new competition) and how you intend to respond to them. Prepare a cash flow projection based on lowered expectations and show how and where you would reduce costs to maintain liquidity. 4: VISION AND THE PEOPLE What is the vision and mission of your creative business? THE PEOPLE (INCLUDING PARTNERS, IF ANY) Work Experience Related to Creative business Describe your work experience in the business you plan to start including a list of your skills and knowledge, which will be required in your creative business. 3 4: VISION AND THE PEOPLE Personal Background and Education (CV) Provide details of your working experience, including information on employment, education etc. A full CV or Supporting documents can be submitted as attachments. . Professional Consultants List the names of your lawyer, accountant, insurance agent and any other professionals you have or are intending to engage with respect to your creative business. Details of Management Team Provide a brief description of the individuals on the management team, their work experience and area of expertise. Include any mentors or key advisors. A full CV or Supporting documents can be submitted as attachments. PERSONNEL Details of: Number of employees, type of labour (skilled/ unskilled/ professional), where and how you will find the right employees including information on pay structure and training etc. 5: MARKETING & SALES Marketing Plan Describe your overall marketing and sales strategy including how you plan to get and retain customers. Provide details of your target market segment (e.g. size, demographics, current demand, your expected share of the market). Please also include the costs of the marketing activities in Table 10.1. Advertising and Promotion Plans Describe your plans and budgets for advertising and promotions. How will you reach your target customers? Location Criteria (for retail, if necessary)  What qualities do you need in a location? FORMTEXT Outline your location criteria. FORMTEXT space requirements FORMTEXT future requirements FORMTEXT site analysis study if needed (attach) FORMTEXT demographic study if needed (attach) FORMTEXT estimated occupancy cost as a % of sales (e.g. rental as percentage of monthly sales) FORMTEXT business approvals (e.g. from SLA, HDB) . Distribution Channels Describe the channels you will use in the business to distribute your products or services. 4 5: MARKETING & SALES The Competition Describe your strongest competitors and how you intend to compete. Compare your creative business with your two most important competitors, and state your competitive advantages and disadvantages.You should also include potential competitors from related or other industries that will affect your new business, if possible. 6: E-COMMERCE (WHERE APPLICABLE) E-Commerce Plans Describe in detail how you plan to use the Internet in your business with respect to marketing of your product or service. E-Commerce Budgeting & Timeline Provide a detailed breakdown of the costs involved in creating, operating and maintaining your e-commerce activities.This should be included in the Table 10.1. . E-Commerce Competition Do you have any competitors for your business? Describe how your best competitors utilize e-commerce and your strategy to improve on their practices. 7: PRODUCTION PLAN (WHERE APPLICABLE) Production How and where are your products or services produced? Briefly explain your quality control, customer service and product development. Suppliers Identify key suppliers. Do you have more than one supplier for critical items (as backup)? Are supply costs steady or fluctuating? If fluctuating, how will you deal with changing costs? Location Criteria (for production) What qualities do you need in a location? FORMTEXT Outline your location criteria. FORMTEXT space requirements FORMTEXT future requirements FORMTEXT site analysis study if needed (attach) FORMTEXT demographic study if needed (attach) FORMTEXT estimated occupancy cost as a % of sales (e.g. rental as percentage of monthly sales) FORMTEXT business approvals (e.g. from SLA, HDB) . Inventory What kind of inventory will you keep (raw materials, supplies, finished goods)? What is the average value in stock and the rate of turnover? 5 8: COMPLIANCE WITH LEGAL AND REGULATORY REQUIREMENTS Business Organization Explain the business organization you intend to form and why it is best for your business. List the name you intend to do business as and the legal entity of the creative business (e.g. pte ltd, co ltd by guarantee, co-operative etc). Licenses List the licenses you will require to go into this business. Insurance List the type of insurance you will require (e.g. workmen's compensation, group insurance, liability insurance etc). (INCOMPLETE FINANCIAL INFORMATION WILL BE CONSIDERED AS INVALID) 9: ACCOUNTING AND CASH FLOW Accounting What is your capital investment? What is the (intended) paid-up capital, borrowings and/or partners investments involved? Please furnish, in a separate sheet, your starting balance sheet and projected income statements for the first 5 years. Please include details such as Wages, Depreciation, Profit before Tax, Cost of Goods, Gross Margin, Revenue Growth etc in your Profit & Loss statement. Cash Flow Planning Provide a separate exhibit of your cash flow analysis including estimated sales, all costs and capital investments. Provide a checklist of all expenses and business items for input into your cash flow projection. Analysis of Costs What are all of the costs: fixed, variable, product, delivery, etc. Internal Controls Explain your intended internal controls and cash controls, check signing policy, strategy for controlling shrinkage and dishonesty and control of incoming merchandises (where applicable). Credit Policies Do you plan to sell on credit? What terms will you offer your customers (i.e. how much credit and for how long)? What is the cost to you for extending credit? 10: FINANCING Financing Strategy Provide a 5-year profit/loss projection, showing all sources of start-up capital and loans, revenue and expenditures. Highlight any other government assistance you intend to apply for or have applied for, and describe where else and how you intend to raise additional funding for the project (e.g. personal savings, venture capital, bank loan etc). 6 10: FINANCING Project Budget Please indicate the total funding required for the project and the breakdown of its use (please add rows if necessary) in Table 10.1 and 10.2 below. Seed funding period: _____________(commencement) to ____________(completion) Table 10.1 (Compulsory to fill up sections A to E below) For Office Use Only Proposed co-funding (A) (B) Qty (C) Total Cost (S$) (D) Requested funding from CBF/CCS (E) Balance to be raised by applicant Final amt funded by CBF/CCS Final amt raised by applicant Remarks Approved co-funding Expenditure items Unit Cost (S$) Please indicate the total funding required for the project and the breakdown of its use. Please add rows if necessary. Manpower (please provide budget breakdown in table 10.2 below, AND state the subtotal in the row below) Sub-total Equipment  e.g. computer or any physical asset to be acquired Sub-total Software  e,g. Computer programmes or any software required for the project Sub-total Materials & Consumables  e.g. raw materials Sub-total Marketing (e.g. website, events, PR, collaterals etc)  e.g. brochures, advertisements Sub-total Others (e.g. IP protection, professional fees, outsourcing, production of prototype etc) Based on a co-funding of 50% 7 Professional fee for design/ consultancy, manufacturing costs etc Sub-total GRAND TOTAL  Table 10.2 - Budget Breakdown for Manpower (Compulsory to fill up all the sections below) Please state: - all positions created for the project - whether local/foreign - whether full time/part time (if part time, pls state No. of hours hired) Item Designation Qualification(s) Basic rate (per hour / basic salary per month) Employer’s CPF (per month)2 No. of person(s) to be hired Period/ Duration of Involvement (e.g., no. of months) Total Cost Remarks (e.g., Description of Job Scope) Local Manpower Full Time (Inclde: temporary full time) Part Time (Except: one-time project payment) Subtotal Foreign Manpower Full Time Part Time Subtotal GRAND TOTAL $XX per hr/wk/mth Amt of CPF per hr/wk/mth Total no. of hrs/wks/mths 11: IMPLEMENTATION Table 11.1 – Project Implementation Schedule (Compulsory to fill up this section) Please include an implementation schedule for the project in the space below, or provide information in a supporting document (see Appendices) 2 Please refer to the Central Provident Fund Board’s website (www.cpf.gov.sg) on guidelines for employer’s CPF contributions. 8 Item Designation Qualification(s) Basic rate (per hour / basic salary per month) Employer’s CPF (per 2 month) No. of person(s) to be hired Period/ Duration of Involvement (e.g., no. of months) Total Cost Remarks (e.g., Description of Job Scope) 12: DELIVERABLES Please state the type of key performance indicators (KPIs) you are targeting for the project, in relation to CCS’s objectives of: a. b. c. d. Enhancing awareness, demand, skills and participation in the Creative Industries Unleashing creativity & promoting community entrepreneurship Strengthening community bonding & people’s sense of identity Achieving other benefits (Please add rows if necessary. Compulsory to fill up this section) 9 12: DELIVERABLES No. Key Performance Indicators # Projected Outcome (during CCS’ seed funding period of xx months) Quantitative* 1 No. of new products/services/programmes created No. of people trained 2 (Please give a breakdown of the training programmes, e.g. no. of hours trained, what are the skills transferred and etc) * A person is considered trained only if he/ she attends more than/ equal to 4 hours of training No. of jobs potentially created 3 4 5 6 7 (Please include the direct hire by the project under Manpower Table 8.2) No. of business start-up created No. of people participated/attended in project-related event(s) E.g. workshops, press conferences, project launch etc (Please describe the events for the project) No. of positive media articles XX% of Profit increase every year Qualitative 1. Increased awareness for CCS and Creative Industries 2. % of non-CI attendees/participants surveyed inspired and would consider a career in CI E.g. 80% of positive survey response *Note: The quantitative indicators stated above are merely a guide. If you wish to add or change the list of quantitative indicators (e.g. number of designs created, profit generated), please do so. Examples of qualitative indicators could include feedback from participants on enhanced confidence, creativity etc. . # Target outcomes should be specific and measurable. Appendices Include details and studies of the following in your business plan (where applicable):  Industry studies  Market research studies  Floor plans  Maps and photos of location  Detailed list of equipment to be purchased  Detailed description of product or service (e.g. menu, technical specifications etc)  Project implementation schedule  Any other materials needed to support the assumptions in this plan Declaration To the best of my knowledge and belief, the replies to questions on this application form are complete and true. I understand that any misleading or false statements or significant omissions may disqualify me from the applications process. 10 12. FOR OFFICE USE ONLY Maximum CBF/CCS Funding Approved: Remarks: Project Manager: Date: Name & Signature of Applicant Date 11