THEME: (Innovation is a Key to Economic Development) There is no doubt that Innovation is a key to economic development both on a nation and on individual. Without innovation, a country as well as individual will be like a stagnant pot of water. Base on the theme above, I have decided to go into tutoring business to enhance me develop economically.

BUSINESS NAME: DanBest Innovative Tutorial Services. GOAL: To Develop Economically (Financially) Through Innovation. TARGETED GROUP: Senior High School (SHS). SUBJECTS TO BE TUTORED: (Introduction to Business Management (IBM), Cost Accounting and Financial Accounting). MOTTO/ SLOGAN: Knowledge is Power.

 Academic tutoring has been in particular demand in Ghana because of the increased expectations placed on high school students. As one tutor said, "What used to be taught in college in the old days is now taught in high school."  Crowded classrooms do not enable the individual attention many students require, and parents have found out that their children are not sufficiently prepared for college or for the entrance examinations necessary for admission into university in Ghana. They have realized that their children need more personalized attention than they can get from classroom instruction.

. From this research and the analysis made taking into consideration the start-up capital needed (resources), I have decided to set-up a tutoring business services after graduation.

Owning a business can be one of the most rewarding experiences in life. However, among the reasons are the following:  To develop economically/financially.  To be in control, directing the business in the effective and efficient way as I want.  To have more freedom creating my own working environment.  To create something special and manage.  To have no real limit to how successful I will be.  To gain recognition.  To feel a sense of accomplishment.

 To improve my financial situation.  To build a better future.  To be a boss of my own.  To feel prestigious owning my own business.

 This is very important task. This is in that estimating start-up costs for a business may not be such an easy task because the business’ success and failure lies here but thanks to cost management that defines itself as “a process of cost accounting in order to reduce costs for products and services, as well as increase value and quality of products, delivered to the customer and profitability of the company in general”.  As the golden rule of business is to avoid loss that is, (all things being equal) and arrive at the sole aim of accruing profit, with Cost Management, ICT, Innovation, the goal of this business will be accomplished.

 Frankly speaking, a lot of people are of the view that there are almost no expenses in a tutoring business. Their reasons are:  You need not to buy textbooks because the students bring their own.  Some tutors provide writing utensils and paper but I expect my students to bring these equipment to their sessions.  You need not to have transportation or site-rental costs because tutees come to your home.  You do not even need a special room in your house: just set up a card table in your living room, use your kitchen or dining room tables.  Just about the only expense you have is the printing of your resume. One batch of a thousand one-page resumes would last you about a year. After that you need to update it before printing”.

 More or less, these schools of thoughts are true but all the same, I need to meet the following estimations in order to introduce new ideas, practices and discoveries (innovation) into my tutoring business. The list is divided into two parts: Business Startup Costs and Ongoing Business Operating Costs.

 Board $ 100  Furniture 150  Decoration 200  Textbooks 100  Stationeries-marker/felt-tipped pen, etc 50  Advertisements-flyers, business cards, announcements 150  Computer 300  Internet 50  Others 100  TOTAL 1200

 SOURCE: The total start-up capital would be financed by family.

ONGOING BUSINESS OPERATING COSTS:  Loan repayment without interest  Marketing  Others  TOTAL

 Through the mouth. Word-of-mouth is the biggest marketing tool a tutor has.  Through resume. The resume will be taken to targeted schools to attract clientele.  Copies of the resume would be posted at appropriate places draw people’s attention.  Announcements through information centres.  Giving students stationeries (writing materials).  Free internet access.

I have planned in advance to go into tutoring business because it is simple to establish (needs little capital), control, direct and not only profit oriented business that will help me develop economically, but also to assist young graduates to realized their dreams.