i

Table of Contents
Executive Summary......................................................................................................................................iii
Part A: Idea Generation.................................................................................................................................1
Part B: Business Plan.....................................................................................................................................3
Business Opportunity.................................................................................................................................3
The Target Market.....................................................................................................................................3
Industry Analysis...........................................................................................................................................4
SWOT ANALYSIS...................................................................................................................................5
Marketing Strategy.....................................................................................................................................6
Business Operation and Business Management........................................................................................7
Organisation Chart:....................................................................................................................................8
Finances & Risk.............................................................................................................................................9
Financial Plan.................................................................................................................................................9
Key Financial Indicators............................................................................................................................9
Projected Balance Sheet...........................................................................................................................11
Projected Cash Flow Statement...............................................................................................................11
Business Ratios........................................................................................................................................12
• Bibliography..........................................................................................................................................13

ii
 Executive Summary
BINGO SPORTS News is a bilingual weekly sports newspaper focusing on local and
international football games. It aims to be the preferred news of source for sports fans, especially
football lovers and to provide a platform for sports fans and stakeholders to interact on sports
matters. Football remains the most popular sport in Tanzania. Every region has a team the NBC
premier league.

Our Mission is to research organize and present sports and football information in a manner that
is relevant, entertaining, educational and newsworthy to our readers through our bilingual
newspaper. This will quench the thirst for football news of Dar es Salaam residents by creatively
adopting the concept to the local context so that it can be readily enjoyed by the local consumers

Management: The company will be under Peter John who is the managing director, he has over
10 years in the media industry and in business. He will be assisted by qualified and competent
heads of departmental. Professional staffs with a proven track record have been employed to
undertake the various activities and tasks in the company.

The Target Market: The target market is Dar es Salaam which has a population of 7,776,000
million people with a growth rate of 5.01%. The majority are youths who have at least a basic
education, technology savvy, have an income and are cosmopolitan. Furthermore, Dar es Salaam
has a GDP of over $12 Billion. The Revenue projection in the Print Newspapers and Magazines
segment shows the potential market expected to reach US$113.70m by the end of 2027. They
have also projected market volume to be US$113.70m and the number of readers to reach 3.9m
by 2027.

Industry Analysis and Competition: The media industry in Tanzania is quite vibrant having
both electronic and print media competing with each other to give news to the public. The
newspaper subsector has about 100 newspapers mostly engaged in various kinds of hard news.
However, the experience and quality of our staffs and the niche we have identified is our
competitive advantage.

Marketing Strategy: In the beginning we will engage in the push strategy while adopting a
strategic combination of the marketing mix. The newspaper will be highly differentiated for the
target market to perceive it as a unique product. We will initially aim at the Dar es Salaam
market.

Financial statements
The projected Financial statements are all heathy subject to the key assumptions holding. The
Income Statement indicates that the business will grow.

iii
iv
Part A: Idea Generation
BINGO SPORTS News is a bilingual weekly sports newspaper that will be available on line and
in hard copies. It is heavily focused on providing readers with up-to-date news on the local and
international football games in particular and sports in general. Readers will know what is
happening, has happened and is going to happen in sports. It will include readers who have
watched the game but just want to relish their team’s victories and those have not had a chance to
follow the game. Due to pressure of work and other commitments there is always a large group
fans who have not watched the game and so we will keep them abreast with reliable and key
information on what is happening. BINGO SPORTS News will provide a platform for fans to
share their victory or defeat.

Although a large proportion of the population are sports lovers football remains the most popular
sport in Tanzania. A substantial segment of the population that cuts across gender, economic and
social categories closely follows both local and European football games. Almost every region
has a team competing in the level one football league popularly known as the NBC premier
league. People follow these matches religiously through both print and electronic media. This
has given rise to sports bars as well as small premises that charge a token amount for the low-
income group to watch matches.

I live in Dar es salaam, Tanzania which is home two World class stadiums namely the Benjamin
Mkapa stadium and the National Stadium. In addition, there are several other small play grounds
in all parts of the city. Being a football enthusiast myself I have witnessed firsthand the trouble
that people who can’t attend live games go through to locate a venue showing a game. This is
even more so for international football games which are shown in only a few places.

Furthermore, the vast majority of football fans like to meet and preview or review football
games; this culture is a major part of the fun and entertainment. As a result, people want a record
of the game, events, names of footballers and titbits of their clubs. However due to the low
income around the country most people have limited access to the internet and television and this
got me thinking. I therefore realized that this gap for the hunger of football news can be filled by
establishing a weekly sports newspaper as an alternative source of football news and
information. There is a substantial market for a sports newspaper wholly devoted to local and
international football. Currently football news is covered by the daily newspapers which can
only give limited coverage because they have to cover all sorts of local and international news.
There are only two sports newspaper devoted to local and international football. A person can
carry around their news copy featuring their favourite team or players and so be informed of the
latest sports happenings during their work break or while commuting from work to home or vice
versa.
I then brainstormed this Idea of a sports newspaper within myself and later with other people e.g.
friends, colleagues and sometimes random people I meet in a football venue. The aim being to
determine if the idea is appropriate. My discussion with various people revolved around the

1
possible reason for the absence of such a football news platform in Dar es Salaam city and how
receptive football stakeholders will be to its establishment. Essentially the response was positive
that there is a market. My observation of the football lovers and stakeholders in Dar es salaam
also led me to conclude that there is a substantial group that is ready to pay for news that will
cover and present football news in both the national language and English in a manner that is
interesting for them.
Of course, the concept is not original rather it is a creative imitation of similar ventures in other
countries. The creativity is in adapting it to the local context so that it can be readily enjoyed by
the local consumers. Instead of having a daily publication I have settled on a weekly publication.
However, the price at which they are ready to pay must be reasonable so this means going for the
mass market.

Although I have envisaged selling to sports lovers who cannot afford extensive use of the
internet on smart phones or even laptops, I will however throw in a few feature that will make
the newspaper attractive to those with deeper pockets. Therefore, the publication will be
bilingual with stories presented in both English and Swahili the national language. Distribution
will be through the regular established marketing channels that sell newspapers as well as around
sports venues during match days. Advertisers and sponsors will pay part of the production cost.

Environmental Scanning.
The political environment in the country is undergoing major transformation. Only two years ago
the government had a heavy hand in every business decision in the country. However, the new
government that has now been in place for two years is systematically and strategically
withdrawing government interference in business as well as enacting legislations that is pro-
business. This has given confidence to the business community therefore it is the appropriate
time for to test the business idea.

Major changes are also taking place in the economic environment from having a friendly and
transparent tax administration to a reform of the financial sector. There is a new central bank
governor and a new secretary to the treasury both who are reexamining the tax rates, interest
rates and combating inflation. Therefore, investments and employment will pick up enabling
people to have disposable incomes that can be spent on leisure like following football games.

2
There is positive transformation in the demography. Young people with education and exposure
are constantly joining the labour market. These are aspirational youths with global tastes and
preferences. This is a potential market for the product under consideration. Overall, the external
environment is receptive to the business idea. I therefore moved to put in extra effort to assess
the particular opportunity for such a venture.

Part B: Business Plan

Business Opportunity
According to Barringer and Ireland (2006) an opportunity is defined a favourable set of
circumstances that creates a need for a new product. Hence an opportunity has to be attractive,
durable, timely and anchored in a product adding value for its customers.

Through a survey we found that there is both a sufficient demand for our product and more
importantly that it is a profitable venture. The environmental analysis revealed that the
environment is sustainable and the timing is right.

As mentioned earlier the demographic shift lead, to the conclusion of an opportunity existing.
More than 60% of the population of Tanzania are youths. They have at least a basic education,
an income enabling them to engage in basic leisure activities and a lifestyle that corresponds to
the global trends. Also being technology savvy, youths are in touch with the world through the
internet so as income increase the opportunity also increase. These and the growing middle class
are potential consumers of our product. This trend is going to continue for a long while.

Objectives
BINGO SPORTS News aims to be the preferred news source for sports fans and especially
football lovers in Dar es salaam. Therefore, BINGO SPORTS News objectives are as follows: -
 To be the number one sports media platform in the country.
 To provide information about current events and issues in the world of sports.
 To increase knowledge of stakeholders on the technical aspect of the game of football.
 To provide a platform for sports fans and stakeholders to publicly discuss sports matters.

The Target Market

The target market is Dar es Salaam which has a population of 7,776,000 million people with a
growth rate of 5.01%. It is the second fastest growing city in the world. 20% of the population is

3
between the age of 15 to 24 years of age and about 30% of the population is between the age of
25 to 54 years of age. It is a youthful population of working age. Dar es salaam is also the richest
region in Tanzania and with a GDP of over $12 Billion it is the economic hub. There is therefore
a significant and growing market in Tanzania. BINGO SPORTS News will focus on students,
office workers, the self-employed and all stakeholders especially those in the 15 to 60 age group.

The Revenue projection in the Print Newspapers and Magazines segment by statista shows a
potential market expected to reach US$117.90m by the end of 2023. They have also projected
market volume to be US$113.70m and the number of readers to reach 3.9m by 2027.

Reporters without Boarders and the Media Council of Tanzania reports that there are over 99
newspapers and 76 magazines in Tanzania. The online media is also a vibrant with the leaders
Jamii Media Co. followed by AYO TV TZA Company and Michuzi Media Group.

Most of the newspapers focus on hard news devoting only a few pages to sports and
entertainment. BINGO SPORTS News intends to satisfy the need of the market segment that
buys these newspapers only for minimum reporting on sports therefore giving them a publication
wholly devoted to sports.

Industry Analysis
The media industry in Tanzania is quite vibrant having both electronic and print media
competing with each other to give news to the public. The newspaper subsector has about 100
newspapers mostly engaged in various kinds of hard news. Their coverage of sports is minimal.
Below is a list of some of the newspapers

1 The Citizen 7 Mpekuzi Huru

2 Daily News 8 Bongo5 12 Mzalendo
3 Habari Leo 9 MTanzania 13 Zanzi News 18 Kajunason
4 Mwananchi 10 Global Publishers 14 Guardian Tanzania 19 Mjengwa Blog
5 IPP Media 11 Mwanahalisi Online 15 Arusha Times 20 Focus Media
16 Arusha Times 21 Mwanaspoti
22 Tanzania Sports
There are also the two newspapers that are specialised in sports coverage. They are listed below:-
 Mwanaspoti
This is an exclusive sports newspaper published in the Swahili language by Mwananchi
Communications.

 Tanzania Sports
Tanzania sports covers all types of regional and international sports including reporting social
and economic news. They also run a website devoted sports to development so as to promote
Tanzania externally.

4
SWOT ANALYSIS
A SWOT analysis was conducted in order to know how the business can compete successfully
and to learn from the analysis. This analysis is the foundation for the business to navigate pitfalls
and to improve performance.

BINGO SPORTS News has many strengths in the diverse expertise of the founders, an
experienced and highly skilled management and technical team. Another strength is it is a
bilingual sports publication enabling both Swahili speakers and English speakers to access the
newspaper. However, there are weaknesses that the business must be aware of such as the
challenge of meeting the specific need of each sub market segment while serving a broad market
segment, lack of funds and reliance on an external printing house

Leveraging the strength and being aware of the weakness of BINGO SPORTS News will enable
it to capitalize on the continuing improvement in education levels and literacy skills, a big
population in Dar es Salaam and growing incomes. Major threats is the low barrier to entry, a
possible return to a volatile politico-economic environment, the small difference in BINGO
SPORTS newspaper and the competitor’s products in terms of coverage.

Strengths
The founders jointly have expertise and talents in diverse areas including media house
management, publication circulation management, experience in fast moving consumer goods,
journalism, research, IT support and sales and marketing. Also, this publication will be bilingual
enabling both Swahili speakers and English speakers to access the newspaper.

Weaknesses
• Since this publication aims at a broad market segment it may be challenging to meet the
specific need of each sub market segment.
• Secondly the lack of adequate finance means initially the business will find it difficult to recruit
influential managerial employees.
• We don’t an inhouse printing facility therefore we have to enter into a contract with an external
printing house; this could pose challenges of quality, meeting delivery deadlines and unilateral
price changes.

Opportunities
•The improvement in education levels and literacy skills means that even the population in the
lower income level can read, write and will actively pursue information. This is a ready and
growing market.
•Dar es Salaam Tanzania’s commercial capital has a population of 7,776,000 million out of a
population of about 62 million for Tanzania and less than 1% buy newspapers. This a huge
potential market for a quality publication.
• With time and more resources, we can market the newspaper in the whole country.

5
Threats
•There is a thin gap between our publication and the competitors in terms of coverage and
quality increasing the possibility of new entrants
• The political environment may change and negatively impact economic decision.
• the current big media houses become our competitors by establishing a similar publication and
leverage on their massive human and financial resources as well as their established distribution
channels.

Competition
The main competitors are the big media houses who publish both daily and weekly newspapers.
However, their coverage of football news is thin. The other competitors are the social media
platforms that feature sports news from all over the world.

The established media houses can afford sustained promotion and advertising. They have an
established distribution channel for delivering their publications to the market. In addition, they
are also preferred for publishing sensational and news critical of the government.

Although the leading media houses have established distribution channels these channels are still
traditional meaning they have not innovated over the years. While the challenge faced by the
social media is that internet bundle is expensive and hence most people cannot spend quality
time on the internet; they need an alternative.

Since BINGO SPORTS News is exclusively for sports and football news readers who have no
interest in political and economic news sports fans will switch to BINGO and so save some
money because although it will be slightly cheaper it will carry more detailed sports news. In this
respect the two sports newspapers are our direct competitors. BINGO SPORTS will also be
boosted by its team of qualified and experience human resource. Further the degree of product
differentiation will be such that BINGO SPORTS Newspapers will be a very unique product

Marketing Strategy
In the beginning we will engage in the push strategy while adopting a strategic combination of
the marketing mix. The newspaper will be highly differentiated for the target market to perceive
it as a unique product. The focus on differentiation and quality will position the newspaper as the
preferred choice for readers. We will employ creative employees, competent researchers, to
produce a quality product which will initially aim at the Dar es Salaam market.

Product and Services

The product will be a bilingual weekly sports newspaper that is heavily focused on local and
international football news so as to capture the English and Swahili speaking customers. Major
effort will be on achieving an optimum circulation target hence the newspaper will be issued on
Monday to capture the weekend games. Further a high circulation level will attract advertising
revenue augmenting revenue from copies sold.

6
 Pricing Strategy
Price is the only marketing mix element that generates income therefore the buyer must perceive
they are getting value. Given that both advertisers and readers are price sensitive we will adopt
the Penetration pricing strategy so as to attract more customers and discourage competitors
thus allowing us to sell a high volume in a shorter period of time. This is also the appropriate
pricing given that incomes are generally low in Tanzania.
Furthermore, its not practical to price the product above similar products in the market. Thus
Going rate pricing method in which price is largely based on competitors prices, with less
attention paid to own costs. Recall that we cannot significantly differentiate the product from
competing products.

Distribution Strategy
We shall adopt an appropriate distribution strategy as a major competitive tool so as to reduce
overall cost, inefficiency and increase sales. Higher sales will in turn attract advertising revenue.
Our newspaper will be circulated on the day of publication mainly in Dar es Salaam and a few in
the nearby regions. We shall use the already available distribution channel. There are newspaper
agents in various parts of the city hence we will partner with them. Agents get newspapers from
printing houses or sometimes the publications are delivered to them. These agents have a string
of newspaper street vendors working under them so the easiest way to reach the vendors is to
access the agents. Finally we will use subscription where particular customers enter into a
contract to be supplied publication copies directly.

Promotion Strategy
Promotion is the element in the marketing mix which includes advertising, personal selling, sales
promotion, publicity that is used to inform and persuade the market about the available products
and services. The publication will be with an attractive layout, font style and attractive look.
Potential advertisers, subscribers and all stakeholders will be invited. The newspapers will be
advertised in popular FM radio stations, social media as well in other advertising medias. We
will engage in strategic printing of mass promotion materials e.g., T-shirts, stickers, flyers,
brochures and well-designed coats for street vendors. Furthermore, we will engage in supporting
the community in various ways.

Business Operation and Business Management

This section helps you to look at your internal operations in detail to see if your business can be
run efficiently and effectively. It draws attention to your team and allows you to develop
strategies for good and effective management.

The company is designed to offer new features that are not presently being offered in the market.
We will offer high quality modern publications using state of the art inputs.

7
For us to offer quality product in the market to the satisfaction of customers it is necessary to
have qualified and competent human resources and to involve them in every aspect of the
business.

Business Management (Organisation Plan)

BINGO SPORTS News is owned and operated by the founders. Initially the Management will
work with a limited number of employees, new positions will be filled as the need arises.

BINGO SPORTS newspaper has a simple organization structure under the Chief Executive
officer.
Professional staffs have been employed to undertake the various activities and tasks in the
company. Priority will be given to highly qualified persons with a proven track record. The
company will also employ supporting staffs to work with the professional staffs on contractual or
part time basis of the needs of the company.

It is fundamental that competent editors are able to produce contents and final products that are
continuously superior to the competition. Senior staffs must inspire and motivate their juniors in
addition to being creative and innovative.

Organisation Chart:
Organisation chart below shows that BINGO SPORTS News is organized into three main
functional areas: Finance, Marketing and Human resources.

Managing
Director

Director Of Director Of Director Of

Finance Marketing Human Resources

Advertising
Sales Manager
Manager

Management Team
Peter John the managing director has over 10 years in the media industry and in business. He will
bring all his experience and network into growing BINGO SPORTS Newspaper. Reporting to

8
the managing director are the director of finance, director of marketing and the directors of
human resource. These positions are occupied by season industry professionals; Edward Philip
the director of finance is a certified public account with over 7 years of experience in banking
and industry; he is responsible for planning and supervising the financial resources of the
company; he will oversee the Revenue and the expenditure accountant. Charles Mandela the
director of marketing is a member of the chattered institute of marketing with years of
experience in several areas including media and fast moving consumer goods who is responsible
for developing products, products pricing, products promoting and products distribution to
customers. Two very able young and experienced marketing professional Elizabeth John and
Mary Peter have been tasked with managing Sales and Advertising respectively. Finally, the
Human resource director Susan Jacob has accumulated many years of experience in recruitment
an human resource function in addition to being a Certified Personnel Developer; she is
responsible for recruiting, employing, training, evaluating and remunerating employees. In the
meantime, BINGO will engage the services of a competent independent contractor to provide IT
support. Other employees will be recruited subject to growth, need and ability.

Finances & Risk

Financial Plan
This section shows the assumption that were used to prepare the projected financial statements
i.e the Income Statement, Balance Sheet and Cash Flow Statement projection for 3 year from
2023, 2024, 2025, 2026 to 2027.

Important Assumptions
The BINGO SPORTS Newspaper financial plan depends on important assumptions as shown
below however the underlying key assumptions are that:
 The economy of Tanzania will continue growing at the current GDP growth of over 6.5%
per annum and also that the economy will remain stable in the relevant period.
 It is assumed that the print and electronic media industry will continue to grow and
further that there will be no major changes in consumer buyer behavior.
 We assume access to equity capital and financing sufficient to maintain our financial
plan.
 Sales will be growing at the rate of 15% per year, income from advertising is expected to
grow at 5% per year and other operating income is expected to grow at 8% yearly.
 Salaries and wages are expected to grow at 10% per year.
 Administrative expenses are expected to grow at 20% per year.
 Other expenses are expected to grow at 10% per year. Income tax is assumed to be at
30% of earnings before interest and tax for the entire period.

Key Financial Indicators

The key financial indicators for BINGO SPORTS News include:
 growth in gross margin,

9
  decreasing operating expenses,
 growth in investment rate,
 and Return on investment.
The justification for our growth is based on the belief that the market for our products is growing
and there is also large potential market.

Projected Income Statement

The Income Statement is the best tool for gauging the profitability of the business it will tell
you how well you are managing your business and provide information on how to grow your
business.

BINGO SPORTS NEWSPAPER

PROFORMA INCOME STATEMENT FOR THE YEARS 2023 TO 2027
2023 2024 2025 2026 2027
Sales
Circulation sales 376,480,900 432,954,232 497,897,367 572,581,972 658,469,268
Advertising Revenue 1,177,064,900 1,235,918,146 1,297,714,053 1,362,599,756 1,430,729,743
Other operating Income 8,306,530 8,929,520 9,599,234 11,039,119 11,093,114
Non Operating income 13,164,071 13,822,274 14,513,388 15,239,057 16,000,000
Total Operating Income 1,575,016,401 1,691,624,172 1,819,724,042 1,961,459,904 2,116,292,125
Less: Cost of Sales 749,689,618 788,566,892 830,396,901 875,475,407 924,128,536
Gross Margin/Profit 825,326,783 903,057,280 989,327,141 1,085,984,497 1,192,163,590
Gross Margin % 0.52 0.53 0.54 0.55 0.56

Operating Expenses
Salaries 222,838,500 239,310,179 257,225,057 276,742,461 298,041,150
Administrative Expenses 214,585,200 225,764,320 237,438,514 249,610,848 262,276,212
Depreciation 135,422,200 147,610,265 159,419,085 170,578,420 180,813,127
Audit Fees 6,998,400 7,558,272 8,162,933 8,815,968 9,521,245
Other Expenses 107,290,600 108,366,873 108,825,986 108,526,455 107,291,814
Total Expenses 687,134,900 728,609,909 771,071,575 814,274,152 857,943,548
EBIT 138,191,883 174,447,371 218,255,566 271,710,345 334,220,042
Tax 48,367,159 61,056,580 76,389,448 95,098,621 116,977,015
NET INCOME 89,824,724 113,390,791 141,866,118 176,611,724 217,243,027

BINGO SPORTS News income statement projection of profit for every year is positive with both
the gross margin and the net profit margin expected to increase. In absolute money terms these
are noticeable increases. The table showing the yearly projections for the coming five years are
included in the appendix.

10
Projected Balance Sheet
The table showing the annual balance sheet projections are included in the appendix, it indicates
a heathy increase in net worth.

BINGO SPORTS NEWSPAPER

PRORMA BALANCE SHEET FOR THE YEAR 2023 TO 2027
2023 2024 2025 2026 2027
CURRENT ASSETS
CASH 153,206,846 160,867,169 168,910,548 177,356,076 186,223,879
ACCOUNT RECEIVABLE 602,954,510 615,013,600 627,313,872 639,860,150 652,657,353
EMPLOYEE RECEIVABLE 165,242,681 190,029,090 218,533,453 251,313,471 289,010,500
TOTAL CURRENT ASSETS 921,404,037 965,909,859 1,014,757,873 1,068,529,697 1,127,891,732

NON CURRENT ASSETS 677,111,304 738,051,321 797,095,427 852,892,107 904,065,634

INVESTMENTS 224,043,131 246,447,444 271,092,190 298,201,408 328,021,549
TOTAL FIXED ASSETS 901,154,435 984,498,765 1,068,187,617 1,151,093,515 1,232,087,183
TOTAL ASSETS 1,822,558,472 1,950,408,624 2,082,945,490 2,219,623,212 2,359,978,915

CURRENT LIABILITY
ACCOUNT PAYABLE 491,777,624 475,547,099 429,284,958 345,441,728 215,322,011
PROVISION FOR TAX 50,816,599 46,238,765 46,350,786 58,877,949 73,756,222
TOTAL LIABILITY 542,594,223 521,785,864 475,635,744 404,319,677 289,078,233

EQUITY
ORDINARY SHARE CAPITAL 60,020,000 60,020,000 60,020,000 60,020,000 60,020,000
RESERVES 730,851,248 730,851,248 730,851,248 730,851,248 730,851,248
ACCUMULATED PROFIT/LOSS 491,542,924 622,933,719 786,399,836 988,463,597 1,230,809,330

Projected Cash Flow Statement

Cash flow projections are critical to our success. The annual cash flow figures are included here
on the following table.

BINGO SPORTS NEWSPAPER

PROFORMA INCOME STATEMENT FOR THE YEARS 2023 TO 2027
2023 2024 2025 2026 2027

NET CASH FLOW FROM OPERATING ACTIVITIES 224,640,955 238,614,937 251,151,296 261,929,847 270,674,597

NET CASH FLOW FROM INVESTING ACTIVITIES 217,345,391 230,954,594 243,107,936 253,484,320 261,808,793

NET CASH FLOW FROM FINANCING ACTIVITIES

NET INCREASE IN CASH 7,295,564 7,660,343 8,043,360 8,445,527 8,865,804
CASH AT THE BEGINNING OF THE PERIOD 145,911,282 153,206,846 160,867,189 168,910,549 177,356,076
CASH AT THE END OF THE PERIOD 153,208,846 160,867,189 168,910,549 177,356,076 186,221,880

11
Business Ratios
The ratios indicate strong and consistent growth in the period under consideration as follows:
 The gross margin will be growing from 52% in the first year reaching a rate of 56% at the
end of the projected period.
 The net profit margin will be growing by 16% in the first year reaching a rate of 28% at
the end of the projected period.
 The current ratio will also grow to 2% at the end of the projected period indicating that
BINGO SPORTS News is unlikely to face liquidity problems throughout the period
under projection.
 Asset turn over at about 0.9 shows a high commitment of BINGO SPORTS News in in
utilizing asset for generation of income in the period under projection.
 Net worth at about 0.8 shows a high commitment of BINGO SPORTS News in
financing the venture in the period under projection.
 Return on Equity and the Return on Asset is about 0.6 and 0.5 respectively indicating a
reasonable return on investment

12
• Bibliography
Acs, Z. J., Desai, S., & Hessels, J. (2008). Entrepreneurship, economic
development and
institutions. Small Business Economics, 31(3), 219-234.
Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory of entrepreneurial
opportunity
identification and development. Journal of Business Venturing, 18(1), 105-123.

Baron, R. A., & Tang, J. (2009). Entrepreneurs’ Social Skills and New Venture
Performance:
Mediating Mechanisms and Cultural Generality. Journal of Management, 35(2), 282-
306.

Baron, R. A., & Tang, J. (2011). The role of entrepreneurs in firm-level

innovation: Joint
effects of positive affect, creativity, and environmental dynamism. Journal of
Business
Venturing, 26(1), 49-60.

Ogundele, O.J.K. (2007). Introduction to Entrepreneurship Development, Corporate Governance and

Small Business Management. Lagos: Molofin Nominees

Source: https://www.statista.com/outlook/amo/media/newspapers-magazines/print-newspapers-
magazines/tanzania

https://smallbusiness.chron.com/make-business-plan-newspaper-52563.html

https://www.semanticscholar.org/paper/Antecedents-of-Business-Opportunity-Identification-
Gielnik-Kr%C3%A4mer/33d4f35fc2bb835c4cd7d95ccca99905819db3e8

https://devrix.com/tutorial/7-ways-perform-market-opportunity-assessment/

https://www.thebalancemoney.com/writing-the-business-plan-section-5-2947030

Li Wei (2012) Business Plan Flower Restaurant Masters Thesis Blekinge Institute of Technology
University
https://www.ilo.org/wcmsp5/groups/public/---ed_emp/---emp_ent/---ifp_seed/documents/
instructionalmaterial/wcms_584176.pdf
https://datareportal.com/reports/digital-2022-tanzania

13
https://library.stanford.edu/africa-south-sahara/browse-topic/african-news-online-african-
newspapers-countries-list/tanzania-news
https://allnewspaperslist.net/tanzania/

14