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FIRST EEVVEERR

PM VISITttooSCCI

“

“

THE COUNTRY

02

EDITIO

N

MAY - JUNE

“GERMANY”IN FOCUS...!

“And measure full when you measure. And weigh withan even balance. This is be�er and

its end is good.”

[Al-Quran;Bani-Israel: 35]

Editorial: Message General Secretary 1 ...................................................................................................................................................................PM Nawaz visit to SCCI 2-3Cooperation + Competition -- “Co-opetition” 4-6 Himalayan Salt; Diversification Of Nature 7-9 Leather Industry; At an Edge 10-15 Business Plan; The Blueprint of Success 16-20

Mobile Website; Your Micro Store Front 25-26 Exclusive Interview; Mr. Waqas Akram Awan (Managing Partner Speedy World Wide) 21-24

Business Apps 27

Profit & Loss Account; Worth Mentioning For Business 35-37 Outsourcing; A Step Towards Efficiency & Effectiveness 32-34 Country In Focus; Federal Republic of Germany 28-31

Business Opportunities for Women 38-40 Fair & Exhibitions 41-42 Credits

SECRETARY

Dear Members,It gives me immense pleasure to present toyou the second edi!on of Chamber’sCommunicator, an informa!ve vehicledesigned to serve our members to thefullest. This ini!a!ve of Sialkot Chamber ofCommerce & Industry is the con!nua!on ofthe legacy and tradi!ons of addinginnova!ve value added services for itsmembers.

GENERALAt Sialkot Chamber of Commerce & Industry, we are commi"ed to provideyou with updated informa!on and to help you manage your businesses at parand also provide you with sufficient tools so that you can truly op!mizeyourself with the globalized world as an entrepreneur. Chamber’sCommunicator is the result of same commitment and dedica!on towards youas our primary focus and our number one priority.

In this edi!on we have managed to cover the different dynamics of industryranging from skill development, product diversifica!on, innova!on and useof latest techniques and technology to changing market trends and poten!almarkets to be exploited. It’s a sheer effort to create awareness amongesteemed members and to provide facilita!ve informa!on.

The magazine has been designed using latest designing techniques andspecialized tools in order to create a unique reading experience. We certainlyhope that this second edi!on would be more interes!ng and informa!ve forthe readers. Wish you all an interes!ng reading experience and look forwardto your valuable feedback and treasured inputs for making this publica!on asuccess.

Profound Regards,

Tariq Mahmood MalikSecretary General

Mian Muhammad Nawaz Sharif is the first ever Premier to visit SialkotChamber of Commerce and Industry. This esteemed visit was not onlya privilege for the business community but also an expression of PM’sgreat concern for the industry and the people of Sialkot. PM Nawazwas accompanied by Khawaja Muhammad Asif, Federal Minister forWater & Power and Defense. The Federal Minister greatly admiredthe achievements of Sialkot Industry as well as the role of Governmentfor the export and industrial development. The Premier appreciatedthe apex role of SCCI for the development of Sialkot Industry and as‐sured that the concerns of industry would be dealt with. He informedabout the different Government ini'ated projects regarding powergenera'on and gas pipeline. The Honorable Prime Ministerannounced the construc'on of “Sialkot‐Lahore Expressway” and gavehis consent to invest in the Technology University in Sialkot forcapacity building of human resource. Without any doubt, this visit isa landmark in the history of Sialkot Chamber of Commerce andIndustry.

“THE fIRSTEVER

PREMIER TOVISIT SCCI”

It is not enough to succeed. Others must fail. Suchpercep ons in business world have tagged businessas a war game. Furthermore, the tradi onalbusiness language like outsmar ng thecompe on, capturing market share, making akilling, figh ng brands, bea ng up suppliers, lockingup customers make it sound that way. Underbusiness‐as‐war there are winners and losers. Butthe way people talk about business these days, youcould not think of it as a war. You have to listen tocustomers, work with suppliers, create teams, andestablish strategic partnerships— even withcompe tors and that purely doesn't sound like war.Now the ques on is if business is not war is itpeace?

We have o�en seen such examples where mostbusinesses succeed only if others also succeed. It’smutual success, a perfect winwin‐win scenario. Butthat doesn't sound quite right, either. As we s ll seeba!les with compe tors over market share, fightswith compe tors over market share, fights with

Business is coopera�on whenit comes to crea�ng a pie andcompe��on when it comes todividing it up.

suppliers over cost, andconflicts with customers overprice. So the ques on remainsthere, if business isn't war andit isn't peace, what is it?

COOPeration + competitionCo-opetition

COOPeration + competitionCo-opetition

In other words, business is War and Peace atthe same #me. In order to win this war andmaintain peace the mechanism of Co‐ope##onis employed. Co‐ope##on is a term used todescribe co‐opera#ve compe##on. Here,businesses form mutually beneficialpartnerships that make both par#es morecompe##ve. In co‐ope##on business issimultaneously both compe##on andcoopera#on.

Co‐ope##on is a par#cularly useful strategy foragile start‐ups. Working co‐ope#vely with othercompanies creates cushion for effec#ve scaling,extends the influence of smaller companies,and helps to widen access to the market.Co‐ope##on goes beyond compe##on andco‐opera#on, combining the advantages ofboth. It develops win‐win scenarios in which abusiness strives to gain more, not necessarilyby taking market share or profit from acontender, but by crea#ng a bigger market incomplementary areas. Companies o�en workwith selected rivals, suppliers, distributors oralliance partners to collec#vely enhanceperformance by sharing complementary

resources and commi$ng to common goals(such as improving industry standards, researchand development, and consumer or marketawareness). At the same #me, they compete bytaking independent ac#on in other areas (suchas product quality, market share, sales growthand cost effec#veness).

Tradi#onal collabora#ons fail because deepdown, stakeholders assume their success mustcome at others’ expense, which is clearly azero‐sum game. In today’s age of business theway forward is co‐ope##on, in which en##es inthe same industries act with what everyonerecognizes as par#al congruence of interestsand become more. Unlike tradi#onalcollabora#ons, instead of coming together todo something and pretending you’re notcompe#ng, co‐ope##on leverages yourcompe#tor’s strength in order to thrivetogether. For example your company might findprospec#ve candidates and employmentopportuni#es while your compe#tor might takeadvantage of your professional managementnetwork, but surely each group would like toenjoy a greater percentage of the recruitmentpie for themselves whereas, the pie as a wholeis larger now because of the involvement ofboth. Now the point of discussion is how doyou protect your own interest whilecoopera#ng with your compe#tors in order tocreate maximize value?

COOPeration + competitionCo-opetition

Agree to share informa#on. Sharinginforma#on and exper#se is a great way tobuild trust with your compe#tors. One exampleis a Memorandum of Understanding (MOU), anon‐legally binding partnership. Wheninforma#on‐sharing is profitable for bothpartners, you can a$ract some more pre$ycustomers. Developing memorandums orlicensing patents for sharing informa#on withcompe#tors can link to greater success downthe line.

Focus on building something new.Co‐ope##ons work especially well forbusinesses that create new products becauseR&D is expensive. At #mes you have somestunning ideas and exper#se but lack resourcesto execute your idea and on the other yourcompe#tor has resources but lack exper#se, sowhy not come together and make a deal. Whendra�ing such a deal, go to your compe#tor andsay:

“We both plan to make X, but we have limitedresources, however. Your company isawesome at doing A. My company isawesome at doing B. If we configure AB,instead of just crea�ng X, we can create X2.”

Choose partnerships where you each bringsomething different to the table. Bartering witha similar company – but not one that’s toosimilar — is the best way to leverage and createwin‐win rela#onships. Business mechanism arerevolu#onizing with #me, in coope##onbusinesses also account for the self‐interest ofothers. In a tradi#onal collabora#on, you get1+1=2, whereas forming co‐ope##ons is be$erop#on because they create transparency aboutmo#va#ons, agendas, and goals. Here insteadof asking, “What’s in it for me?” or “What’s init for us?” you ask your compe#tor, “How can1+1=3?”

HIMALAYAN SALT

Pakistan born in the holy month of Ramadan is blessedwith abundant natural resources, an ideal geostrategicloca on and highly skilled and dedicated work force, yet,its economy is facing hard me bridging up the gap withthe developed na ons of the world. We Pakistanis are veryunfortunate in u lizing our capaci es and exploi ng thescin lla ng opportuni es available at our doorsteps. Ourbiggest dilemma is that we are not adap ve to thechanging demands of business. We live and earn by ourconven onal parameters and are resis ve to change.Whereas, success of every economy lies on the ability toinnovate and to cash the resources in the right way at theright me.

Pakistan is blessed with huge reserves of “Himalayan Salt”ranging from areas around Himalayan Mountains toKhewra mine, Kalabagh salt mine, Warcha salt mine,Quaidabad salt mines, Ja!a salt mine and Karak salt mine.It is scien fically observed that the “Himalayan Salt” is awonderful product containing numerous minerals essen alfor human health e.g. Sodium Chloride, Magnesium,Sulfate, Iron etc. and many others.

A DIVERSIFICATION OF NATURE

This pure crystal salt is able tobalance the pH of Human body,Improve breathing ability,Increasing the flow of oxygen to thebrain, Regulate water contentthroughout human body, smooththe blood circula&on, regulateblood pressure and stabilizes theglucose levels in diabe&cs.

These high mineral crystals, rangingin colors from sheer white, varyingshades of pink, to deep reds, arehigh in demand round the globeand used by holis&c chefs, spas,health professionals, andindividuals for its nutri&onal andtherapeu&c proper&es. Further‐more, Himalayan salt serve as rawmaterial in many industries as wellas used to produce Kitchen

accessories, beauty products,medical products, cookingproducts, animal related products,industrial products, Home/Officedécor and accessories e.g. rock saltlamp, Rock salt handicra� and saltfire bowl. Other products like Ediblesalt, Himalayan bath soap,deodorant bars, lick salt slabs, Ne&pot with Himalayan salt, gourmetsalt, flooring & &les, onyx candleholders, salt inhalers, USB andaroma salt lamp are manufacturedfrom this precious salt.

This magical salt has a boomingmarket in USA, UK, UAE, Australia,Canada, Netherlands, andSwitzerland and all over Europe.The salt is high in demand inagriculture based countries. It isused to feed the livestock.

9

Despite the great poten!aland skill available in thisindustry, Pakistan’s share inthe interna!onal market isvery negligible. The need ofthe hour is to makemaximum use of theblessing and excel in thisindustry. This industry canprove to be an importantsource of earning foreignexchange as these Saltmade products are high indemand globally.

Countries like USA, UK where horse racing is a popular game, the salt isimported in bulk to feed the horses. Moreover, with the changing preferenceof people round the globe to adopt healthy lifestyle and home luxuries, thedemand of Himalayan Salt products have increased. From industrial andmedical products to home décor, kitchen accessories, salt inhalers and aromasalt lamp are used by people all over the world.

NOTE: Detailed report on HimalayanSalt can be accessed through

Email: sialkot@scci.com .pkWebsite: www.scci.com.pk

Leather products have a long history they played a vital role in the development ofciviliza+on. From a very early +me, man has used leather to fulfill their basic needsof clothing and shelter etc. Roman history is also an evidence of the massive use ofleather products e.g. manmade footwear, belts, clothing, containers for liquids,boats and even armour of the Roman soldier. In recorded history, pieces of leatherda+ng from 1300 B.C. have been found in Egypt and a�er this, the Greeks were usingleather garments in the age of the Homeric heroes (about 1200 B.C.), and then thistrend was spread out in Roman Empire, China, India and North America etc. withthe passage of +me, man has learned the various methods of preserving andso�ening leather.

In Indo‐Pak subcon+nent, the leather industry is old as colonial era, just a fewnumbers of tanneries were working in large ci+es such as Karachi, Lahore, and NewDelhi etc. At the +me of independence there were only a few tanneries producingsole leather at a small scale. In the early days of independence some tanneries wereestablished in Karachi. In 1950's some were established in Lahore and adjoiningareas. The industry has flourished rapidly since then. During 1950s well‐equippedtanneries were set up at Karachi and Lahore, while during 60s and 70s more unitswere established at Hyderabad, Kasur, Sialkot, Multan, Sahiwal and Gujranwala.Star+ng with the produc+on of picked and vegetable tanned hides and skins, thetanneries, today are producing not only wet blue and crust but also fully finishedleather.

“Leather Industry” is considered as the second largest industry in regard to exportsand contribu+ng a handsome amount of foreign exchange earnings and GDP ofPakistan. Currently, Sialkot sector of Leather is contribu+ng around USD 457 millionin 2013 but has the poten+al to mul+ply volume of exports with the improvementof quality and diversifica+on in different range of products, specially garments andfootwear. Leather garments and footwear is a job‐oriented sector providingemployment to a very large segment of the society besides earning foreign exchangefor the country. Today, Pakistan is among the leading countries in the produc+on ofLeather Garments and Gloves. Against a capacity of producing 90 million squarefeet of tanned leather, the tanneries are presently producing only 60 million squarefeet tanned leather per year. Presently, there are some 461 leather garments/apparels making units, which annually produce some 5.0 million pieces against acapacity of producing 7.0 million pieces. The 524 footwear units in the country arecurrently producing 100 million pairs against a capacity for producing 200 millionpairs, while 348 leather gloves units are producing 5.0 million pairs against a capacityof making 10 million pairs annually. These sta+s+cs clearly show that the capacityof this sector remains highly under‐u+lized.

For the development of this industry, there are various training ins+tutes that havebeen established to provide leather based academic degrees e.g. Na+onal Ins+tute

LEATHER INDUSTRYAT AN EDGE....!L

E

H

T

ER

A

of Leather Technology, Karachi (NILT), Leather productsdevelopment Ins'tute, Sialkot (LPDI), Ins'tute of LeatherTechnology, Gujranwala (ILT). With this facility, theprominent thing is that Pakistan is fortunate that the rawmaterial required by the industry is available in thecountry in abundance. The primary sources of rawmaterial for the tanning industry are hides and skins fromanimals slaughtered for human consump'on. Buffalo,cow, goat and sheep are the types of basic raw materialswhich are being used by this industry. The industry meets75% of its needs of raw hides from local sources while restis met through imports. Pakistan imports raw hides fromSaudi Arabia, Iran, and China, Dubai, Sudan, Kenya,Australia and Italy.

There is a number of processes e.g. Vegetable‐tannedleather, Chrome‐tanned leather, Aldehyde‐tanned leather,Synthe'c‐tanned leather; Alum‐tanned leather, raw hideetc. are followed in this industry. And there are differentStages of Leather Forma'on i.e. Warehousing and sor'ng,Soaking, De‐Fleshing, Liming, Ba'ng, pickling, tanning,Samming, Spli(ng, Skiving, Sor'ng, Neutralizing, fillingout, dyeing and greasing, Drying, Staking, Finishing,Quality Control, Dispatch.

The leather industry has implemented many progressiveinterven'ons and technologies in the past to deal with itsnumerous environmental and energy challenges. Therepresenta've associa'on of leather industry i.e. PakistanTanners Associa'on (PTA) has long been facilita'ng anumber of ini'a'ves to address the environmental issuesof the industry. This has resulted into a more compe''ve,sustainable and progressive leather industry of Pakistan.

For sustainability of already implemented steps and inview of the con'nuous needs of the leather and tanningsector, Program for Industrial Sustainable Development(PISD) will work and transfer environmental andenergy‐related knowledge and technologies to theindustry in order to address the ongoing issues of leathersector of Pakistan.

In Pakistan, minor a'en&on is given to following four aspects which are otherwise essen&als forsuccess. There are 4 factors that are significant for the development of any industry, which are:

1: Country Image 2: Logis&cs 3: Price 4: Quality

The law and order situa&on is making foreign investors reluctant to invest.

Livestock Industry; In Pakistan, meat industry is seen as of prime importance, leather is just seenas a by‐ product and this perspec&ve needs to be changed for the sophis&ca&on of local demand.

Effluent treatment plant & reach agreement has been made in Korangi with the collabora&on ofDutch government but failed to perform efficiently.

The credit availability to the leather tanneries/industries on high cost is an ongoing issue in theway of investment in this industry.

The local chemical and dye manufacturing companies are not suppor&ng the Leather industry.Other than a few Mul&na&onal Corpora&ons, none of the companies meet the interna&onalstandards.

Local companies do not manufacture chemicals required by leather industry. Tanners are forcedto buy chemicals from the Mul&na&onal corpora&ons at high prices or import them.

Training, research and educa&onal Ins&tutes are not working to their full capacity due to the lackof students, faculty, and proper academic curriculum. On the other hand, the NILT (Na&onal Ins&tuteof Leather Technology), LPDI (Leather Product Development Ins&tute has taken ini&a&ves to trainindividuals in Leather and Leather products but they are not capable of a'rac&ng people.

Gaps in the quali&es of local supplies is also there, this is reflected in the inefficiency of the localmachinery and dyes manufacturers. Our local machinery and dye manufacturers are not competentenough, forcing tannery owners to import machines and chemicals. 80% of the chemical dyes usedare imported.

Issues Faced by the Industry:

Cumbersome regulatory proce‐dures e.g. export rebates of up to23% were given up "ll 10 years ago,which has now been reduced to ameager 0.8 to 1% for finished goods,0.22% for apparels, 1.76% for glovesand 2% for footwear. This reducesour ability to compete with countriesgiving high export rebates. Over andabove this, the Pakistan LeatherIndustry is subject to high L/CMargin.

Leather manufacturing sector inPakistan can also suffer because ofmassive smuggling of livestock toother countries, shortage of rawmaterial and absence of theorganized dairy farming in thecountry. Steps should be taken toovercome these problems

Disease in the livestock inPakistancan prove hurdle in themanufacturing and exports offinished products of leather.Concrete measures need to be takento overcome this threat to thelivestock. As a result the live animalsare suffering from different diseasesthat damage the quality of theleather and tarnish the image ofproducts at interna"onal level.

Recommendaons:

1. Pakistani Leather and Leatherproducts have carved a respectableplace in the world market especiallyleather jackets are much in demand.They are sold under the foreignrenowned brand names. Made‐in‐Pakistan label and brands born inPakistan have yet to come. Steps

need to be taken by the industry in this regard.

2. Footwear, the largest segment of the leather industryaround the world has been surprisingly neglected in Pakistan.Foreign franchised ompanies have become household namesin Pakistan. This is despite the fact that the en"re stuff andskill they use belong to Pakistan. Pakistani companies shouldseek partnership with interna"onal brand producers byoffering them a#rac"ve incen"ves in order to promoteLeather footwear industry.

issues to which the consumers in the impor'ng countriesare sensi've too.

4. Major trade shows, fairs and other promo'onalac'vi'es should be used to build Pakistani brand names,and thus improving the posi'on of “Brand Pakistan”.E‐marke'ng is teh use of the internet in order to makepeople more aware of leather industry in Pakistan.

5. To a(ract investment, Government should provideinvestment incen'ves, higher duty drawback/ tax rebates,6% R&D subsidy to the new startup companies in theleather sector.

6. Sustainable Pakistani leather sector compe''venessrequires greater concentra'on on fashion and design.Efficient fashion industry will bring new design andinnova've designs in leather garments and hence leathersector will be promoted.

NOTE: Detailed report on LeatherIndusrty can be accessed through

Email: sialkot@scci.com .pkWebsite: www.scci.com.pk

3. Combined effluent treatment plantsneed to be built so that hazardouschemicals from the tanneries do notaffect the environment. Moreover, theindustry needs to tackle all the labor

STRENGTH

• Easy availability ofraw material.

• Management skillslearned throughexperience.

• Easy availability oflabor.

• Presence ofinstitutional supportfor technical, serices,designing, manpowerand marketing.

• Export market inEurope, USA, andFar EAST.

• Export friendly Govt.Policies

• Pakistan has acomparativeadvantage in LeatherGarments,Gloves,andLeather Goods forConsumer use(clothing accessories)and Finished Leatheritems (Leather Hides,Skins, Parchmentwhole skin dresses).

WEAKNESSES

• Insufficient level ofmodernization andtechnology up gradation.

• Low labor productivity.

• Lack of confidenceamong SME’s for futhergrowth.

• Environmental problems.

• Lack of market information

OPPORTUNITIES

• Room for capacities utilization.

• Product diversificationand new markets.

• Pakistan can diversifyfurther in LeatherGoods for industrial usesector.

THREATS

• Competition fromregional players suchas China, India, Turkey,Thailand, Indonesia,etc.

• New regulations ofenvironmental andsocial compliance.

S

OT

W

BUSINESS

If you’ve ever jo�ed down aparagraph on a piece of paperdescribing your business strategyor a few tasks you need toaccomplish, you’ve wri�en abusiness plan, or at least thegerm of a plan. At its heart, abusiness plan is just an idea forhow your business is going towork, and how you’re going tomake it succeed.

In its simplest form, a businessplan is a guide—a roadmap foryour business that outlines goalsand details how you plan toachieve those goals.

Business plans can help performa number of tasks. They're usedb y i n v e s t m e n t ‐ s e e k i n gentrepreneurs to convey theirvision to poten�al investors. Theymay also be used by firms thatare trying to a�ract keyemployees, prospect for newbusiness, deal with suppliers orsimply to understand how tomanage their companies be�er.

Generally people think thatbusiness plans are only forstar�ng a new business orapplying for business loans. Butbusiness plans are also vital

looking to grow. About the onlyperson who doesn't need abusiness plan is one who's notgoing into business. You don'tneed a plan to start a hobby or tomoonlight from your regular job.But anybody beginning orextending a venture that willconsume significant resources ofmoney, energy or �me, and thatis expected to return a profitshould take the �me to dra�

THE BLUEPRINT

OF

SUCCESS

PLAN

for running a business, whetheror not it needs new loans or newinvestments. Exis�ng businessesshould have business plans thatthey maintain and update asmarket condi�ons change and asnew opportuni�es arise. Everybusiness has long‐term andshort‐term goals, sales targets,and expense budget, a businessplan encompasses all of thosethings and is as useful to astartup trying to raise funds as itis to a 10‐year‐old business that’s

some kind of plan. Wri$ng abusiness plan may sounddifficult and dull. By “May,” wemean “definitely” ‐‐ but itdoesn’t have to be. Yes, weknow you’re eager to dive rightin on that world‐changingbusiness idea, but having yourstrategy on paper is cri$cal.

Before wri$ng a business planit is important to decide whatsort of business plan isrequired to your business.Considering that businessplans serve many differentpurposes, it’s no surprise thatthey come in many differentforms. There are threecommon types of businessplans namely One PageBusiness Plan, The InternalBusiness Plan and Externalbusiness plan (the standardbusiness plan document).

A one‐page business plan isexactly what it sounds like: aquick summary of yourbusiness delivered on a singlepage.

But this doesn’t mean a verysmall font size and stuffingheaps of informa$on onto asingle page, it means that thebusiness is described in verybrief and simple language thatis direct and to‐the‐point. Thisformat is great for early‐stagecompanies that just want tosketch out their idea in broadstrokes. On the other handinternal business plansemphases en$rely on businessstrategy, milestones, metrics,budgets and forecasts. Theseinternal business plans skipdetails about company historyand management team sinceeveryone in the companyalmost certainly knows thisinforma$on. Such plans arebasically management toolsused to guide the growth ofboth startups and exis$ngbusinesses. They help businessowners think through strategicdecisions and measureprogress towards goals.Whereas, External businessplans are the formal business

plan documents designed tobe read by outsiders toprovide informa$on aboutyour business. The mostcommon use is to convinceinvestors to fund a business,and the second most commonis to support a loanapplica$on. It is basically anextension of the internalbusiness plan. Such plansdetails how poten$al funds aregoing to be used. Investorsdon’t just hand over cash withany strings a%ached—theywant to understand how theirfunds will be used and whatthe expected return on theirinvestment is. Investors investin people rather than ideas, soit’s cri$cal to includebiographies of key teammembers and how theirbackground and experience isgoing to help grow thecompany.

Once you have decided whatshort of business plan isrequired for your business the

next step is to dig into the process of actually wri#ng a businessplan. Whether you’re trying to raise money for your business orare developing a plan for strategic growth, a solid business planis a key component to every successful business. And for comingup with a good business plan you need to have a look at the 8key elements of a Business Plan.

Execu#ve Summary:Just like the old proverb that the first impression is the lastimpression, in business your first impression must be a solid oneas there is hardly any second chance. While devising yourbusiness plan it must be kept in mind that the execu#ve summaryis your business’s calling card. It should be brief, compelling andcap#va#ng. Many poten#al investors will never make it beyondthe execu#ve summary, so it needs to be pre$y convincing. Itshould provide a quick overview of your business, the problemyour business solves, your solu#on to the problem, the business’starget market, key financial highlights, current business posi#on,major achievements and an instant of who does what on themanagement team.

Company Overview

The company overview is meant to be the shortest sec#on ofyour business plan which provides a quick review of thecompany’s mission statement, legal structure and loca#on, aswell as some background on the company’s history if you’rewri#ng the plan for an exis#ng business. This sec#on is mostlyomi$ed in internal plans.

Products and Services

In this sec#on of your Business‐plan you actually sketch a broaderpicture of what you are offering or selling and how are yousolving a problem (or “need”) for your market. This is the partwhere the real meat of your plan lives. This is where you willdescribe in detail the problem that you’re solving, your solu#on,and how your product or service fits into the exis#ng compe##velandscape. Always keep in mind that if you can’t pinpoint aproblem that your poten#al customers have, then you might nothave a viable business concept. Products and services sec#onhelp illustrate your business concept and along with thatdemonstrates what sets your solu#on apart from others, andhow you plan to expand your offerings in the future.

This could include the number of sales leadsgenerated, the number of page views to your website, or any other cri#cal metric that helpsdetermine the health of your business. If you’veaccomplished some key milestones in the processof building your business, detail them here. Thischapter also defines how you measure success.

Management TeamThe management team chapter of a business planis cri#cal for entrepreneurs seeking investment,but can be omi$ed for virtually any other type ofplan.This sec#on should include relevant teambios that explain why your managementpersonnel are the right people for their jobs. A�erall, good ideas are a dime a dozen—it’s a talentedentrepreneur who can take those ideas and turnthem into thriving businesses. Business plansshould help iden#fy not only strengths of abusiness, but areas that need improvement andgaps that need to be filled. Iden#fying gaps in themanagement team shows knowledge andforesight, not a lack of ability to build thebusiness. Investors look for great teams inaddi#on to great ideas. Use this chapter to putthe exper#se of your team in the best possibleway.

Financial PlanThe financial plan is a cri#cal component of nearlyall business plans. Running a successful

Target MarketAs cri#cal as it is that your company is solving areal‐world problem that people or otherbusinesses have, it’s equally important to detailwho you are selling to. If there are mul#plemarket segments for your business, this is whereyou flesh out the details. Understanding yourtarget market is key to building marke#ngcampaigns and sales processes that work. And,beyond marke#ng, your target market defines thegrowth of your business.

Marke#ng and Sales PlanThe marke#ng and sales plan details thestrategies that you will use to reach your targetmarket. This por#on of your business planprovides an overview of how you will posi#onyour company in the market, how you will priceyour products and services, how you willpromoteyour offerings, any sales processes youneed to have in place and what marke#ng andsales tac#cs will you be using.

Milestones and MetricsPlans are nothing without solid implementa#on.The milestones and metrics chapter of yourbusiness plan lays out concrete tasks that youplan to accomplish, complete with due dates andthe names of the people to be held responsible.This sec#on should also detail the key metrics thatyou plan to use to track the growth of yourbusiness.

business means paying close a en�on tohow much money you are bringing in, andhow much money you are spending. A goodfinancial plan goes a long way to helpdetermine when to hire new employees orbuy a new piece of equipment.

If you are a startup and/or are seekingfunding, a solid financial plan helps you figureout how much capital your business needs toget started or to grow, so you know howmuch money to ask for from the bank or frominvestors.Your business plan isn’t complete without afinancial forecast. A typical financial planincludes:

• Sales Forecast• Personnel Plan• Profit & Loss Statement• Cash Flow Statement• Balance Sheet

Always remember that a good business plan isnever meant to be wri en once and a goodbusinessperson understands that this planevolves as your business evolves and as yourenvironment changes, as marke�ng campaignsexceed expecta�ons or fail to meet yourassump�ons. It’s very important to re‐visityour plan at least quarterly, monthly is best.And also keep in mind that you do not have togo through it alone. Bring your plan to lunchwith a mentor or colleague. Ask ques�ons andpresent data accurately. Once you start thisprocess you will find yourself looking forwardto reviewing and upda�ng your plan.

MMRR.. WWAAQQAASS AAKKRRAAMM AAWWAANN

Mr. Waqas Akram Awan is theManaging Partner of SpeedyWorldwide Logis%cs. He has richexperience of his field in the localand interna%onal markets. Heis strategist in dealing door‐to‐door logis%cs, warehousemanagement, inland trucking,project management services,etc. He started off as a young,passionate entrepreneur andwithin no %me made a mark inthe industry. He also holds thepost of General Body Member atFPCCI Karachi. No doubt Mr.Awan is a living example forbudding entrepreneurs.

Q1. If you have to describeyourself in one word, whatwould that be?

Ans. One word, now that’spre$y tricky. I am flexible, in asense that I can mold myselfaccording to different situa#ons.I believe that my flexibility orversa#lity you can say in otherwords is my biggest strength.

Q2. As a child everyone hastheir own wish list to achieve?What you wanted to be?

Ans. I wanted to be a pilot, infact it was my mother whoins#lled this desire in me. Shewas quite fascinated by thatuniform and thought it wouldsuit my son, that cap and theuniform. On the other hand myfather wanted me to join CivilServices. But somehow boththese professions were notwri$en in my des#ny, God hadother plans for me and I ampre$y sa#sfied of where I am inlife today.

Q3. Any ideal personality youlook forward to?

Ans. Well, if you talk about anideal personality as in an idealhuman being or a role model,who else can it be other thanour Holy Prophet Muhammad(SAW), He was the crown of allspecies. But if you talkspecifically about the peoplenear me whom I admire, itwould be my father. He wasmore a friend than a father. Ialways looked up to him andpeople do say that I haveinherited all my good quali#esfrom him for which I am u$erlyproud of.

Q4. Your favorite Brands?

Ans. To be honest I am not that conscious about brands,I hardly go out for shopping that’s completely my wife’sdepartment. But yes I am careful about how I carrymyself. I love to be neat and this is something that I amgroomed to be from childhood. Not par&cularly indressing but in every aspect of life. Well, if you insistabout naming a par&cular brand I use than I would sayGucci in fact right now I am carrying a Gucci wallet.

Q5. How did you get into the business world? Why didyou chose your profession as a Freight forwarder?

Ans. I joined my family business; my father was inshipping business in Libya. I was born in Libya in fact, butlater my father moved from there and came back toPakistan. A�er working in a private Airline for a while hestarted his own freight forwarding business with thename of speedy cargo. My father was the first one in hisfamily to start his own business.

Q6. You are famous in the industry as a talentedcricketer, does your sportsman spirit helps you inprofessional life?

Ans. Oh yes, I love cricket and can proudly say that I wasa good cricketer. I used to play as a batsman and at &mesas a part &me spinner. Yes of course, nothing in life isuseless, every passing moment teaches you a lesson it’sjust that you need to be vibrant enough to absorb thatlesson. Cricket has taught me many things; most of all ithas made me disciplined and has given me a sense ofhandling compe&&on.

Q7. What are your major concerns as a businessman?

Ans. For me the biggest concern is the unhealthycompe&&on among the businessmen, we are not wellequipped and have limited resources. I feel that ratherthan compe&ng with one another, using nasty leg‐pullingtac&cs it’s be'er that a viable environment be createdwith the governmental assistance to work together andcontribute our share for the be'erment of the countryand the people. Secondly educa&on is the most neglectedarea in our part of the world. Business and academialinkages are the foremost necessity of this age. Our

training ins'tu'ons are malfunc'oned; we needto revive these ins'tu'ons for the success of ourindustry. Let me tell you, we do have brains inPakistan but we lack leadership. Economists,Industrialists and Academia are most crucial forour mul' commodity market. Sialkot industry hasmuch poten'al and scope but the problem is thatskills are not being transferred to nextgenera'ons. For the success of any economy thefour pillars namely civil society, private sector,academia and government need to play theirnecessary roles. Government’s facilita've role isthe most crucial among all, as long as thegovernment fails to play an efficient role the civilsociety, private sector and academia cannotcontribute in the development of the country.Moreover, research and development is aneglected area, though we always talk about R &D but prac'cal illustra'on are nearly zero. If theprivate sector wants development and valueaddi'on then R & D is the key to success.

Q8. As a Businessman where you want to seeyourself in next 5‐10 years?

Ans. Well, I have already told you that there is alot more to achieve in life, I feel that abusinessman who thinks he is successful is not agenuine businessman because in business youalways crave for more. I have been Alhamdulillahenjoying a lot of designa'ons in past and havebeen quite ac've in social ac'vi'es too but whatI would dream in coming years is to be contentedwith what I have achieved in life bothprofessionally and personally.

Q9. What do you suggest to buddingentrepreneurs, wishing to enter logis�csbusiness?

Ans. Generally, the principals are more or less thesame for all businesses. An entrepreneur needs to

be well equipped, should be qualified and mostimportantly should be passionate about hiswork. In logis'cs business, communica'on ismost crucial. Logis'cs is no moreconven'onal/orthodox now, it has become moreof a science because of the complex processesinvolved like DDP, DDU, distribu'on, warehousingetc. Today what ma(ers for a successful freightforwarder is, his rela'onship with the shippers. Itis most significant that you establish a strongunderstanding with the shippers and buyers.Furthermore, the associates play an importantrole, they work for you and you work for them.The associates nominate you through theircontacts with the buyers. Logis'cs business has acomplete cycle and it’s truly inevitable to ignorethe importance of logis'cs and supply chainmanagement in business. And yes, mostimportantly every newcomer should have his/herline of ac'on devised, he/she should very wellknow what should be done because in serviceoriented businesses there are no second chances.Moreover, newcomers should avoid such tac'csthat might sink the market as it has dangerousconsequences. They should follow the codes ofconduct and business ethics.

Q10. Your secret recipe of success?

Ans. “Respect your work”. The only thing that canlead to success is your honesty and passion foryour work. No ma(er what you do, how big orsmall your business is just respect what you doand also respect the people who help you achieveyour goals.

Q11. What according to you is the scope of logis‐�cs business in Pakistan?

Ans. Very bright, I feel there are immenseopportuni'es available in Pakistan which areclearly evident by the unprecedented growth of

logis#cs and its penetra#ng presence in Pakistan.In the coming years, following the shi� of Indiaand China’s market towards hi‐tech, theimportance of Pakistan consumer market wouldsignificantly increase and hence logis#cs businesswould further grow. GSP Plus status awarded toPakistan would bring in more businessopportuni#es and ul#mately logis#cs would beinvolved to deliver the end products to buyers.Even if the imports increase, logis#cs would s#llbe at advantage. But honestly, I am a greatadmirer of import subs#tu#on and believe that itis important for minimizing the trade deficit. Itwould not be wrong to say that logis#cs have abright future in Pakistan as business has a brightfuture provided that government play itsfacilita#ve role in resolving issues like electricitycrises and security concerns. No doubt we havebrilliant brains and highly skilled individuals butall we need is making the right decisions at right#me.

Q12. What is the roadmap of success for a locallogis�cs company to pursue its business?

Ans. There are a number of challenges toovercome by every logis#cs company par#cularlyin the start of its opera#on to create its space inthe present market. In order to improveefficiencies of the company, ini#ally the issues oflogis#cs management should be resolved;regula#ons and business ethics should befollowed, and transporta#on should be madeavailable every #me. These challenges with teamefforts and proper coordina#on may becomeopportuni#es to succeed and rapidly developcompany's business. As I have men#oned earlier,the companies should avoid such policies thatmight result in market sinking because suchac#ons have serious repercussions in the long run.I believe that the key to success is your honestyand passion for work. The more you respect yourwork the more successful you become. Effec#ve

communica#on and strong rela#ons with yourcustomers can put your freight forwardingbusiness at the right track.

Q13. How do you see marke�ng indispensable toreach community and poten�al clients?

Ans. Without any doubt marke#ng is cri#cal inlogis#cs because establishing and maintainingmedia rela#onships is vital for the success of yourbusiness. The more you know your product themore you can market it successfully. Services arecri#cal products to sell so it’s very important toknow the limita#ons. A focused marke#ngstrategy can help to increase your marketprofitability and for devising such a strategy youshould be well aware of your product and theservices you are offering. With the currenteconomic climate, increased market awarenessthrough consistent media exposure is the bestway to let your poten#al customers know whatyou can do for them and how well you can do it.

Q14. Any message or piece of advice for youngentrepreneurs?

Ans. As I have already said that your passion forwork is the driving force in business. Always becommi$ed to your work and never underes#mateyour abili#es. Accept challenges and never say noto anything. Your ac#ons should speak louderthan words. Be passionate and never look forshortcuts.

It is said that ethics change withtechnology. Technology upgrada�on not only li�s upthe standards but alsorevolu�onizes the rela�veapproach. In Business,innova�on is the key to successand to make room for success,all you require is technologyfriendly environment. Today thebusiness world has movedfrom the conven�onal officedecorum to the new dimensionsof virtual work places.

It is no secret that with themushroom growth of smartphones and android technology,the dynamics of business havecompletely changed. Theamount of �me and moneypeople are spending on mobiledevices is growing rapidly and

so does its use for businesspurpose. There’s no ques�onthat mobile devices havebecome a staple in everydayliving around the world. Wehave become so prone to thesedevices that we wake and sleepwith them. We are constantlyconnected, whether we have tosocialize, watch news, readpaper, google informa�on, sendan email or buy a product every‐thing is managed well with ourlarger than life smartphones.

MOBILE WEBSITEYOUR

MICRO STORE FRONT

Latest trends show that with the growingsmartphone mania and its user friendliness,more and more people are shi�ing to thesedevices for handling their business affairs makingmobile web the new forte of business. In therecent past, any business that wished to have aprominent online presence just needed to havea website but today businesses need to take astep further and build a mobile version of theirwebsite.

Many of you might ponder that if we alreadyhave a desktop website which can be viewed on

smart phone, why on earth we need to build amobile version? The simple illustra#on is to takea moment, grab your smart phone and try toview the desktop version of yourcompany website. You’ll quickly realize that theexperience isn’t the same on a 3.5 inch displayscreen. Things are harder to navigate andinforma#on harder to be seen. All you end up iszooming in and out just to view a certain part ofthe page. Now consider a customer visits yourwebsite on their mobile device and have a hard#me finding informa#on they need, the simplerepercussion is that you will run the risk of

losing them. They might never go back to yourwebsite (on their phone or computer!) if theyhave a bad experience the first #me they visit.

The good news is that Mobile websites are madeto work well with smaller screens. Not only aremobile websites easier to navigate, they are alsoop#mized for touch control. Furthermore,mobile websites are less expensive to design &develop as compare to a full desktop site.Graphics and naviga#on elements are simplifiedto focus on ease of use and speed. Contents arealso reduced to contain the most essen#alinforma#on which increase the chances ofpurchase. Furthermore, providing customer witheasy access to your business informa#on showsthat you care about giving them a goodexperience. This create a perceived value that

can translate to posi#ve word of mouth otherspeople poten#ally leading to more business foryou down the road. Therefore the risk ofignoring these mobile users can greatly outweighthe benefits. Now more than ever it’s importantthat websites be op#mized for mobile devices.Mobile op#miza#on can increase sales, generatemore traffic, and boost customer engagementwhich in return also bestow an edge over thecompe##ve.

Considering the dire need for op#mizing yourwebsites to mobile devices, all the businessmenout there are recommended to direct their IT de‐partments/web partners for employing thistrend to elevate your business and get into therace of advanced business opera#ons.

MOBILE WEBSITE - YOUR MICRIO STORE FRONT

SSTTOORREE

CARROTA bossy to ‐ do list with personality,complete tasks in return forrewards. An easy to use, fun andrewarding app, intriguing virtualgi�s.

FOCUS@WILLAn excep�onal app combiningmusic and neuroscience toincrease your produc�vity by up to400%

PHOTOMATHWorld's smartest camera calculator.Reads and solves mathema�calproblems. It makes math easy andsimple by educa�ng users how to solvemath problems.

A handy capture appthat turns yoursmartphone into apocket scanner. Use it totake pictures ofreceipts, business cards,menus, whiteboards ors�cky notes—then letOffice Lens crop,enhance and save toOneNote.

OFFICE LENS

“TODAY GERMANY ISON THE BORDERS OF

EUROPE, EVERYWHERE.”

This German quote truly sums upthe strong presence andimportance of Germany asEurope's largest economy andsecond most crowded na on(a�er Russia). Germany is a keymember of the con nent’seconomic, poli cal, and defenseorganiza ons. Although, thestruggle of European powerswrapped up Germany in twocrushing World Wars in the firsthalf of the 20th century and le�the economy lay in shambles. Asa result, the industrial output fellby one‐third of its level before

the wars. Moreover, a largepercentage of Germany’sworking‐age men were deadleaving the world observers tothink that West Germany wouldhave to be the biggest client ofthe U.S. welfare state; yet,twenty years later its economywas envied by most of the world.And less than ten years a�er thewar people were witnessing theGerman economic miracle.Today German economy isconsidered as the fi�h largesteconomy in the world in PPPterms and in Europe, it is aleading exporter of machinery,vehicles/automobile, heavyautomo ve, technology, so�‐ware’s, chemicals, and house‐hold machinery & equipment

Country in FFOOCCUUSS

and gets benefits from a highly skilledlabor force. Germany is Europe's mostindustrialized na�on, boas�ng majorplayers in various industries. At thecore, German economy is one of theleading economies in the world thusmaking it a country to be focused by ourexport industry for boos�ng up theirtrade poten�al.

As far as Pakistan ‐ Germany rela�onsare concerned; Germany has alwaysbeen one of the vocal and reliablesupporters of Pakistan and has takenextreme measures to aid Pakistan in its

economic and governmental hardship.Germany maintains a healthydiploma�c presence in the country.Presently, Germany is the eighth largestinvestor in Pakistan with severalGerman mul�‐na�onals opera�ng.Germany has also extended ac�vesupport to Pakistan's ini�a�ves with theEU for providing greater market accessto Pakistani exports to EU. Germany hasalways supported the Pakistani effortsto get greater access to EU marketsincluding the recently approvedPakistan specific autonomous tradepreferences. Germany is expected tocon�nue as an advocate of Pakistanwithin the European Union.

Although, Germany is Pakistan’s largesttrading partner within the EuropeanUnion, accoun�ng for 20% of Pakistan’stotal exports to the EU and 21% ofPakistan’s total imports from the EUand the total trade volume was overUS$ 2.32 billion between thetwo countries during the year 2012‐13.But s�ll the trade is not up to thepoten�al. Major products beingexported by Pakistan to Germany areAr�cles of apparels, accessories, notknit or crochet, tex�le ar�cles, sets,worn clothing, Co on, Ar�cles ofleather, animal gut, harness and travelgoods. Sports goods, sportswear andsurgical items are also exported but in

GERMANY

rela%vely less quan%ty. Whereas Pakistan is aquality producer of surgical instruments andsports goods. Our exporters need to ponder whyGermany is impor%ng these products from othercountries and not from Pakistan. Pakistan’s sharein the German market is only 4.3% which requireimprovement. With the GSP status awarded toPakistan by EU there is a shining opportunity toenhance our market share in German economy.

In the tex%le and clothing products, Pakistan’smain compe%tors in the EU market are India,Bangladesh, China and Turkey. Apart from India,the other three countries rank among Pakistan’stop 10 export des%na%ons, crea%ng a jarringsitua%on where Pakistan supplies tex%le rawmaterials (yarn and fabrics) to countries whosefinished tex%les and clothing products enjoy dutyfree advantage in Pakistan’s main export market.Pakistan needs to take some serious decisions,our tex%le and apparel industry should focus onexpor%ng finished products direct to EU marketby taking maximum benefits from the GSP plusstatus.

Furthermore, there is a lot of space and poten%alfor German investors to invest in Pakistanespecially in energy and power sector. Currentlyalmost 35 German mul%na%onals are engaged inPakistan. Of all the mul%na%onal companiespresent in Pakistan, 55% of them are from thepharmaceu%cal and chemical industries. Germaninvestment in power sector would be of greatbenefit to Pakistan’s economy that has beensuffering %ll mouth by this menace of powershortage.

Germany is home to world’s famous trade showsand exhibi%ons. Businessmen from across theglobe take parts in these trade events makingGermany a central hub for business ac%vi%esworldwide. Pakistan export industry need to focuson Germany as a gateway to make a prompt entryin European Markets.

Spirit and Life Essen

Date: 13‐14 Jun 2015 Sector: Sports Goods, Fashion Accessories & Surgical

InstrumentsVenue: MESSE ESSEN GmbH, Essen Website: h&p://www.spirit‐und‐life.de/13.html

………………………………………………………………………

You Berlin

Date: 03‐05 Jul 2015 Sector: Sports Goods, Beauty Products and Musical

Instruments Venue: Messe Berlin, BerlinWebsite: h&p://www.you.de/YOUBerlin/

………………………………………………………………………

Krea!v Hamburg

Date: 28‐30 Aug 2015Sector: Fashion Accessories and Leather Products Venue: MesseHalle Hamburg‐ Schnelsen, Hamburg Website: www.krea%vhamburg.de/

………………………………………………………………………

Preminum Order Munich

Date: 08‐11 Aug 2015 Sector: Tex%le and Apparels Venue: Munich Order Center (MOC), Munich Website: h&ps://www.premiumexhibi%ons.com/

premium/munich/loca%on/………………………………………………………………………

Heimtex!l

Date: 12‐15 Jan 2016 Sector: Tex%le Venue: Messe Frankfurt Website: heimtex%l.messefrankfurt.com/

EXH

IBITIO

NS

TRA

DE

FAIR

S &

GERMANY

NOTE: The informa%on has been gathered from third party sources and Sialkot Chamber of Commerce andIndustry does not hold any responsibility for the authen%city and accuracy in this regard.

Young entrepreneur and small business owners like to thinkthat they can do it all, but even the most organized businessowners some!mes need some help running their businesses.To get that help, many business owners have turned tooutsourcing. The word may evoke images of sending workoverseas, but it is not the case always. Small business ownerscan actually use outsourcing to their advantage by sendingwork‐related func!ons to companies that have theprofessional exper!se to handle them. Outsourcing is aneffec!ve cost‐saving strategy when used properly, becauseat !mes it is more affordable to purchase a good fromcompanies with compara!ve advantages than it is toproduce it internally. When outsourcing transgressesna!onal boundaries and is managed by companies locatedin other countries, outsourcing takes the form of offshoring.

Like every other strategy in business the success of outsourc‐ing relates to how well you plan it. All you need to do is makesure your outsourcing project ends on !me, on budget anda"ains the company goals. Outsourcing as an idea is notnovice; it has been there for quite long, the only differencebeing that it's gaining lot more popularity since a decade.Despite the leveraging benefits of outsourcing, manycompanies have only recently begun to implement its usewhile others are s!ll in the planning stages. Today,outsourcing is not only about cu#ng cost but also aboutreaping the benefits of strategic outsourcing such asaccessing skilled exper!se, reducing overhead, flexiblestaffing, and increasing efficiency, reducing turnaround !meand eventually genera!ng more profit.

Get access to skilled expertise:

One of the primary reasons why a business may want tooutsource a task is when it requires skilled exper!se. Thisskill set may not be a core competency of its business. Toallow you to focus on your core mission in providing a highqualityproduct and service to your customer what makessense is outsourcing the task to people can perform it be"erand faster.

A step towards “Outsourcing”

efficiency & effectiveness

Focus on core activities

Workload increases with addi�onal non‐corefunc�ons and the quality of your core ac�vi�essuffers as your business grows. Outsourcing in suchscenario to a third party plays an important role byallowing your key resources to focus on primarybusiness tasks.

Better Risk Management

Outsourcing will allow you to share any associatedrisks with your outsourcing partners there byreducing your burden. For example, by outsourcingto a competent outsourcing partner you reduce therisk involved in having the same task done in‐houseby staff that may not be as competent in that field.

Increasing in-house efficiency

A�er you allocate tasks to your outsourcingpartner, they share the workload of youremployees. This allows you to develop yourinternal task force and use them more efficiently.

Staffing Flexibility

Outsourcing certain independent tasks, allows yourbusiness to maintain a financial flexibility whenthere is an uncertainty in demand. You can scale upor down comfortably. At a much lower cost,offshore outsourcing provides addi�onal benefit ofrunning your business in full thro le even duringoff season and holiday months.

Improve service and delight thecustomer

Your outsourcing partner, with their skilledexper�se will produce quality deliverables faster,increasing your turn around �me to the customer.With on‐�me deliveries and high‐quality servicesyour customers will be delighted! Outsourcing canhelp you benefit from increased customersa�sfac�on and thus crea�ng a stream of loyalcustomers.

Cut costs and save BIG!

All the benefits listed above come with the bonusbenefit of lower cost and big savings! Outsourcingeludes the need to hire individuals in‐house;hence recruitment and opera�onal costs can beminimized to a great extent. This is one of theprime advantages of offshore outsourcing. Whenyou outsource services to a low‐cost countriesyou are ge!ng access to quality services that areoffered at a much lower cost.

“Outsourcing”A step towards

efficiency & effectiveness

Furthermore, maintaining an infrastructure canbe an extra burden for some businesses, whichoutsourcing can remove. Outsourcing yourbusiness requirements to a trusted vendor canhelp you save on the capital expenditure, �me,and extra efforts of your personnel. Addi�onally,you are no longer commi ed to invest onemployee training, or purchasing expensiveso�ware, or inves�ng in latest technologies. Allthis add up to higher returns in the longer run.

“Outsourcing”A step towards

efficiency & effectiveness

Give your business a competi-tive edge

The ul�mate benefit of outsourcing is that ithelps your organiza�on gain a compe��veedge in the market. Through strategicoutsourcing to an outsourcing partner, you arenot only providing your customers withbest‐of breed services, but increasing yourproduc�vity while managing your in‐houseresources intelligently. Outsourcing can helpyou surpass compe�tors who have not yetrealized the benefits of outsourcing.

With benefits come challenges, therefore oncethe decision of hiring freelancing experts ismade, companies have to learn to efficientlymanage these external resources. If you wantto make sure that your outsourcing experienceends up being successful, make sure that youclearly define the project and the skills beforecontrac�ng, set up specific and measurablegoals to a ain with the project andcommunicate performance expecta�ons.Clearly state the end product and the deadlineas well as the necessary resources andonceyou hire the expert/consultant/extra handrequest from him a detailed Plan withac�vi�es and deadlines. Have a clear map tomeasure the performance of the freelancerworking for you and provide regularperformance feedback. Finally request back upplans for key steps of the project and evaluatethe risks to prepare alterna�ves.

4

Decision‐making is an integral part of every aspect of life.In business world, decisions are the pillars through whichan entrepreneur supports the whole structure of his/herbusiness as well as run the business in a smooth way. LikeCEOs and managers of large businesses, the small businessowners are also primarily liable for the ul�mate outcomeof all decisions with regard to business ac�vi�es. The factis “Making good decision is a crucial skill at every level”. Inbusiness, there are lots of crucial and casual circumstanceswhere a businessman has to decide about workforce,management, produc�on, investment, marke�ng, profitsand sales etc. Business decisions are always based on somesort of informa�on and mostly businessmen rely onbusiness documents and accoun�ng documents/recordswhich mostly include profit & loss statement/incomestatement, balance sheet, cash flow statement, retainedearnings statement and equity statement etc. and formaking a good decision you need to have understandingabout these accoun�ng documents.

Most entrepreneurs start their businesses because they areenthusias�c about the primary work of the business which

“Making good decision is a crucial skill at every level”‐By Peter Ducker‐

generally isn’t accoun�ng. Therefore,apparently entrepreneurs aren’tcompletely comfortable interpre�ngthe monthly financial reports theyreceive and analyze the profits orlosses, the business face. There areabundant of entrepreneurs who neverlook at their profit and loss statementsbecause they do not understand themand explana�ons have been toocomplicated. This can be challengingfor the growth of business because

PROFIT & LOSS STATEMENT“WORTH MENTIONING

FOR BUSINESS”

PROFIT & LOSS STATEMENT“WORTH MENTIONING FOR

BUSINESS”

profit and loss statement/Income statement is theprimary document whichdescribes the whole scenarioof the total expenses,revenues of a business andexplain the profit or lossfaced by a business.

Usually, it is referred to as aprofit and loss statement(P&L), revenue statement,statement of financialp e r f o r m a n c e , e a r n i n g ss t a t e m e n t , o p e r a # n gstatement, or statement ofopera#on, is one of thefinancial statements of acompany and shows thecompany’s revenues andexpenses during a par#cularperiod.

It indicates how the revenuesare transformedinto the net‐income (the result a�er allrevenues and expenses havebeen accounted for, alsoknown as “net profit” or the“bo$om line”).

seem more difficult than itreally is. For example, salescan also be called revenue orincome, costs may be calledexpenses and profits may bereferred to as net income ornet profit etc. In fact, P&Lstatement itself can also becalled an income statement.All of these confusions makethe accoun#ng difficult forcommon businessmen.

The point of understandingfor the entrepreneurs is thatthey must be aware aboutthe treatment of severalsources of business earningand all the expenditures in‐curred by the business,because the sales and costsmay be broken into severalparts according to theirnature and treatment.

It displays the revenues recog‐nized for a specific period, andthe cost and expenses chargedagainst these revenues, includingwrite‐offs (e.g., deprecia#on andamor#za#on of various assets)and taxes. The purpose of theincome statement is to showmanagers and investors whetherthe company made or lost moneyduring the period being reported.

Basically, there is a simpleformula for preparing the P&Lstatement “sales minus costsequals to profit”. All major itemsare fall under the heads of thisformula.Sales are typically shownat the top of the P&L statement.Costs are shown below sales andprofit is at the bo$om, a�er allthe calcula#ons. It’s nothing toodifficult to understand but themostly businessmen are con‐fused just because of somedifferent words having the similarmeanings, making accoun#ng

PROFIT & LOSS STATEMENT“WORTH MENTIONING FOR

BUSINESS”

company that manufacture and sell different types ofsports ar!cles. It will have the cost of the componentsused to make the sports ar!cles, the cost of the workerswho manufacture the ar!cles and the costs of theproduc!on facility. These costs are referred to as cost ofgoods sold (COGS) because they can be coupled directlyto the manufacturing of the sports ar!cles. So abusinessman can easily understand all the por!on of costand expenses in every business department. The slightchange is that in service business, such cost is known ascost of service (COS).

Finally, gross profits (or gross margin) can be determinedby subtrac!ng costs of delivering its product or servicesfrom the total sale. A�er that, other expenses must alsobe men!oned and subtracted from the gross profit, asother costs of the business are not linked with the

For example, in a service business like hotels & restaurants, the sales may come from customers whodine in or take away or catering services. Such a business may choose to break sales into those threepieces. Typically, these three components would be added together and called “total sales”.

At the same !me, costs are also subdivided into various parts because in a business there are lots oflarge and small expenses regarding the business ac!vi!es. For example in a produc!on business,material cost, labor cost, overhead cost etc. there are many approaches to deal the expenses in P&Lstatement (according to the nature or func!on). But the most construc!ve way to subdivide the coststhat is directly related with delivering your product or service and those are not. Let suppose a

production of goods. Such costs might be thecost of the people who sell the products(selling cost), the cost of the accountants whoproduce the P&Ls and even the head’scompensation (administration cost). With thisaddition, the P&L is now broken down intotwo divisions: “sales minus COGS equals’gross profit, and gross profit minus SG&A(selling, general and administrative costs)equals net profit.”

So, it is clear that an entrepreneur must bewell aware about all the technicalities of Profit& Loss Statement as it is consider one of themost important accounting document throughwhich a businessman can project therevenues, forecast the expenses related tobusiness and take the important decisionsabout the business. This statement can alsoserve as a tool to attract the investors for thefirm. Therefore, an entrepreneur must haveto understand the P&L statement to takedecisions and increase the growth &development of the business.

taking ini�al steps and looks for aparent finger to help him getthrough. In this case, SialkotChamber of Commerce andIndustry feels its responsibility ofac�ng as a parent to all thosewomen out there who wish toenter this dynamic world ofentrepreneurship. SCCI hasalways encouraged women toexhibit their talents, skills,exper�se and to par�cipate fullyin economic life across all levels.

For every woman, knowing thatshe wants to be an entrepreneuris the easy part but figuringout what she wants to do isthe hardest part. Most of thewomen find difficulty in trulyunderstanding all of thedifferent opportuni�es availableout there. There is no doubt thatstar�ng a business for womenposes more complexi�esthen for men as they carry certainlimita�ons. SCCI trulyunderstands the limita�ons ofwomen and therefore proposesuch businesses for women thatwould suit their comfort.

A lot has been said and wri en on women empower‐ment and the need of awarenessamong women to come outof their restricted circles forcontribu�on in the economicstructure of their families andul�mately the overall na�onaleconomy. Once we educatewomen about their affirma�veeconomic role, the next step isto help them discover how theycan u�lize their exper�se inestablishing a business for theirown. The major concern thathaunts the young womenhoping to start a business is,what to start and where to startat. A picture that trulydemonstrates the scenario ofyoung women entrepreneurs isthat of a li le baby who hasstarted moun�ng his feet on theground but find difficulty in

Sialkot’s soil is rich in business, itwould not be wrong to say thatbusiness runs in the blood of itsinhabitants. The prominent industrialsectors of the city include SportsGoods, Sports Wear, SurgicalInstruments, Leather & Tex'leProducts, Musical Instruments,Gloves and Badges, Cutlery andKitchen wear etc. Budding womenentrepreneurs can also try their luckin these sectors if they deemappropriate but there are a numberof new diverse fields were women cantake charge and turn the cardsaround.

Garments and Fashion Accessories isthe genre of women, every womenyoung or old love to dress up andaccessorize. This domain is trulya(ributed to women as they havemore insight of the latest fashiontrends and are always on the top ofthe changing dri�s. They are capableof bringing uniqueness and can comeup with new exci'ng designs moreo�en. Currently women are showinginterest in this line of business andthere is immense poten'al for moretalented entrepreneurs, as fashion isa field whose charm never dies.

Home décor and interior designing isanother field where women can do

wonders. The changing life style and high preferences ofpeople to enjoy home luxuries has tremendously increasedthe demand of such businesses. Women having moredynamic esthe'c sense and home furnishing skills can excelin this field. Such professions do not require a hec'c officeschedule or heavy investment on the produc'on plant, youcan start it at home or run it online. Home décor is becominga need of every other household and if you think you havethe talent to turn a house into a living luxury with your cre‐a've décor ideas; it’s surely worth giving a try.

If you are a foodie and love to cook why not turn your lovefor food into a profession. Professional Cooking and homebakery is also a rising business. Trend of ordering homemadefood and cakes for birthday par'es, anniversary celebra'ons,family and friends gathering is becoming popular as peoplefind it more hygienic and convenient for their personal get to

gathers. You can start suchbusiness on small scale withinyour family, friends orcommunity and once you get ahand on it just make aprominent presence onlinethrough various means of socialmedia and can get going withyour own business.

Women are always a step aheadin planning events, whether it’sa birthday party, weddingcelebra�ons, surprise par�es,Eid dinners or farewells. Theirevent management and

planning skill can also betransformed into poten�albusiness as the trend ofconsidering good planners forspecial events par�cularlyweddings is growing consider‐ably. Other than thesebusinesses there are a numberof addi�onal op�ons availablelike handmade jewelry, decora‐�ve items, beddings and anyother household or day to daynecessaries that you feel youcan manufacture. The beauty ofsuch businesses is that you cantake a start from li�le savings

and can expand your workaccordingly.

Small or big, the size does notma�er. All that ma�ers is thesense of responsibility andrealiza�on of the fact thatwomen are not only meant to sitat home. Women being themajority of our popula�onneeds to come out of their nut‐shells and start exhibi�ng theirexper�se to earn a respectableearning not only for suppor�ngtheir families but for their ownwisdom and social status.

EXHIBITIONS 2015

15 Fest Expo

Date: 30‐31 May 2015 Sector: Leather & Tex$le Products Country: Mexico Venue: World Trade Center Mexico Website: www.15fest.com

Atlanta Apparel

Date: 11‐14 Jun 2015Sector: Fashion Apparel & Clothing, Beauty Products

andTex$leCountry: Atlanta, USA Venue: AmericasMart Atlanta Website: h%p://www.americasmart.com/apparel#/

Sports & Fitness Asia 2015

Date: 11‐13 Jun 2015 Sector: Sports Godds and Sports wearCountry: SingaporeVenue: Singapore EXPO Conven$on and Exhibi$onWebsite: h%p://www.sportsnfitness.asia/about‐sport‐

fitness‐asia‐2015/

Pro SuperShow Expo

Date: 6 ‐ 7 Jun 2015 Sector: Surgical Instruments & Sports GoodsCountry: Toronto, Canada Venue: Metro Conven$on Centre Website: h%p://www.torontoprosupershow.com/con

tent/health‐fitness‐expo

EXHIBITIONS 2015

Northwest Interna�onal Dental Equipment TechnologyAnd Products Exhibi�on And Symposium

Date: 02‐04 Jul 2015 Sector: Surgical & Dental Instruments Country: Xi'An, China Venue: Xian Interna%onal Exhibi%on Center Website: h&p://kq.hmdent.com/

Entertainment Produc�on Expo Tokyo

Date: 03‐05 Jul 2015 Sector: Musical Instruments Country: Tokyo, Japan Venue: Tokyo Big Sight Website: h&p://www.content‐tokyo.jp/en/To‐Ex

hibit/Merit/

Classical Next

Date: 20‐23 May 2015 Sector: Musical Instruments Country: Ro&erdam, Netherlands Venue: De Doelen Concert and Congress Center Website: h&p://www.classicalnext.com/

Tranoi Preview

Date: 27‐29 Jun 2015 Sector: Beauty Products, Leather Apparel & Leather

ProductsCountry: Paris, France Venue: Palais de La Bourse Website: h&p://www.tranoi.com/session/

NOTE: The informa%on has been gathered from third party sources and Sialkot Chamber ofCommerce and Industry does not hold any responsibility for the authen%city andaccuracy in this regard.

Mr. Tariq Mahmood MalikSecretary Genral

Mr. Umair NisarR&D Officer

Mr. Salman MirR&D Officer

Ms. Mehmooda ButtR&D Officer

Ms. Atqa ArshadR&D Officer

Mr. Abdul RaufR&D Officer

Gratitude extended to all the readers. Our team look forward to your valuable feedback.For Feedback: Sialkot@scci.com.pk

TeamThe