TMTF Survey Results 21 May 2006 Ignite Your Imagination Pervez (Mustafa) Nooruddin

Survey Results Discussion 1.Overall status of survey participants 2.Feedback from members at different stages in business development and management 3.Suggestions about TMTF forum 4.Survey Conclusions

Why do we come at TMTF? 50 Questionnaires given to attendees 50 Questionnaires given to attendees 47 questionnaires were completed (94%) 47 questionnaires were completed (94%) Almost 70% of attendees are here to seek help Almost 70% of attendees are here to seek help One person was an honest mumin! One person was an honest mumin!

Economic Status of Mumineen High Unemployment rate of 23% in mumineen High Unemployment rate of 23% in mumineen Fair distribution of attendees with over 60% possibly interested in starting a business Fair distribution of attendees with over 60% possibly interested in starting a business 35% of mumineen actively engaged in business 35% of mumineen actively engaged in business

Mumineen Interest in Business Of the possible 60% people possibly interested in starting a business, almost 50% have indicated this. Of the possible 60% people possibly interested in starting a business, almost 50% have indicated this. Of the 23% unemployed, almost all are still curious in starting some business. Of the 23% unemployed, almost all are still curious in starting some business.

3 Stages of Business Interest 1.Curious and Looking 2.Active and Planning 3.Operating and Managing

What are the Curious thinking? A variety of reasons to start a business. Primarily for survival in Canada. A variety of reasons to start a business. Primarily for survival in Canada. Three top interest areas: Three top interest areas: Import /Export Computer Consulting Travel Agency Many people (78%) have not done any research Many people (78%) have not done any research Many (67%) do not have financial resources and need help to start a business Many (67%) do not have financial resources and need help to start a business

What are the Serious doing? Many mumineen (82%) are not in survival state and want to do business for growth or passion fulfillment Many mumineen (82%) are not in survival state and want to do business for growth or passion fulfillment There are very few professionals and many are interested in retail business primarily because of their background and past experience There are very few professionals and many are interested in retail business primarily because of their background and past experience

What are the Serious doing? A majority of mumineen have indicated their past experience and skills in business (70%) A majority of mumineen have indicated their past experience and skills in business (70%) A few (25%) have indicated their passion for business start-up A few (25%) have indicated their passion for business start-up All (except one person) have not prepared any business document or plan! All (except one person) have not prepared any business document or plan!

What did the Business persons say? 15 people – 66% micro business and 34% large 15 people – 66% micro business and 34% large Major reason for business challenge is marketing and cash flow Major reason for business challenge is marketing and cash flow Almost all (85%) profitable business owners want to grow their businesses Almost all (85%) profitable business owners want to grow their businesses

What are current business challenges Marketing and Sales is the biggest challenge Marketing and Sales is the biggest challenge Advertising/ promotion and technology are the second largest challenges Advertising/ promotion and technology are the second largest challenges A very good cause effect of the western economy! A very good cause effect of the western economy!

Major Conclusions First level of involvement by mumineen First level of involvement by mumineen Many mumineen at survival stage Many mumineen at survival stage Many business people and few entrepreneurs Many business people and few entrepreneurs Many waiting for a miracle Many waiting for a miracle INVOLVEMENTSTAGES 1.Interest 2.Active 3.Engage 4.Action 5.Results

Opinion about TMTF Forum

What should TMTF do? Response by Priorities 1.Provide Networking Opportunities 2.Provide Training Courses 3.Provide one-on-one counseling 4.Provide Financial Resources

Should we seek advice from an external consultant? 80% of business persons like the idea 80% of business persons like the idea Need to develop a good TOR for assignment Need to develop a good TOR for assignment

When should we meet for TMTF? Options Preferences Overall Probability FirstSecondThird Friday pm 3 7% Mon pm 1 2% Sat am 63123% Sat pm 2119% Sun am % Sun pm 1219% Wed pm 12 7% Weekday pm 1 27% Totals % ONCE every TWO weeks ?

Closing Thoughts! There is a high level of interest in starting a business There is a high level of interest in starting a business There are many mumineen who do not have an option except to start a business There are many mumineen who do not have an option except to start a business Many are waiting for a `Miracle’ Many are waiting for a `Miracle’ One in a million chance One in a million chance WAIT FOR IT OR MAKE IT HAPPEN WAIT FOR IT OR MAKE IT HAPPEN The choice is yours The choice is yours

REMEMBER! If you are really, really serious Ask, enquire, follow up Ask, enquire, follow up There is HELP, but you will have to do the work There is HELP, but you will have to do the work These is no Golden Goose These is no Golden Goose Are you there yet?