TMTF Survey ResultsTMTF Survey Results21 May 200621 May 2006

Ignite Your ImaginationIgnite Your Imagination

Pervez (Mustafa) NooruddinPervez (Mustafa) Nooruddin

Survey Results DiscussionSurvey Results Discussion

1.1. Overall status of survey Overall status of survey participantsparticipants

2.2. Feedback from members at Feedback from members at different stages in business different stages in business development and managementdevelopment and management

3.3. Suggestions about TMTF Suggestions about TMTF forumforum

4.4. Survey ConclusionsSurvey Conclusions

Why do we come at TMTF?Why do we come at TMTF?

2%

20%

69%

9%

Free Brunch Curious

Seek help Help Others

50 Questionnaires 50 Questionnaires given to attendees given to attendees

47 questionnaires 47 questionnaires were completed were completed (94%)(94%)

Almost 70% of Almost 70% of attendees are here attendees are here to seek helpto seek help

One person was an One person was an honest mumin!honest mumin!

Economic Status of MumineenEconomic Status of Mumineen

23%

33%9%

23%

12%

UnemployedEmployedContractMicro businessSME

High Unemployment High Unemployment rate of 23% in rate of 23% in mumineenmumineen

Fair distribution of Fair distribution of attendees with over attendees with over 60% possibly 60% possibly interested in starting interested in starting a businessa business

35% of mumineen 35% of mumineen actively engaged in actively engaged in businessbusiness

Mumineen Interest in Mumineen Interest in BusinessBusiness

21%

46%

33%

Curious

Serious

Operating business

Of the possible 60% Of the possible 60% people possibly people possibly interested in starting a interested in starting a business, almost 50% business, almost 50% have indicated this.have indicated this.

Of the 23% unemployed, Of the 23% unemployed, almost all are still almost all are still curious in starting some curious in starting some business.business.

3 Stages of Business Interest3 Stages of Business Interest

1.1. Curious and Curious and LookingLooking

2.2. Active and Active and PlanningPlanning

3.3. Operating and Operating and ManagingManaging

What are the Curious thinking?What are the Curious thinking?

A variety of reasons to start a business. A variety of reasons to start a business. Primarily for survival in Canada. Primarily for survival in Canada.

Three top interest areas:Three top interest areas: Import /ExportImport /Export Computer ConsultingComputer Consulting Travel AgencyTravel Agency

Many people (78%) have not done any Many people (78%) have not done any researchresearch

Many (67%) do not have financial Many (67%) do not have financial resources and need help to start a resources and need help to start a businessbusiness

What are the Serious doing?What are the Serious doing?

17%

39%

44%

Make a livingIncrease IncomeFollow my Passion

Many mumineen (82%) Many mumineen (82%) are not in survival state are not in survival state and want to do and want to do business for growth or business for growth or passion fulfillmentpassion fulfillment

There are very few There are very few professionals and professionals and many are interested in many are interested in retail business primarily retail business primarily because of their because of their background and past background and past experienceexperience

32%

16%

52%

RetailProfessionalBusiness Service

What are the Serious doing?What are the Serious doing?

A majority of mumineen have A majority of mumineen have indicated their past experience and indicated their past experience and skills in business (70%)skills in business (70%)

A few (25%) have indicated their A few (25%) have indicated their passion for business start-uppassion for business start-up

All (except one person) have not All (except one person) have not prepared any business document prepared any business document or plan!or plan!

What did the Business persons say?What did the Business persons say?

3

8

4

1

Sales

Service

Manufacturing

Logistics

15 people – 66% 15 people – 66% micro business and micro business and 34% large34% large

Major reason for Major reason for business challenge is business challenge is marketing and cash marketing and cash flowflow

Almost all (85%) Almost all (85%) profitable business profitable business owners want to grow owners want to grow their businesses their businesses

71%

29%

Profitable

Challenge

What are current business challengesWhat are current business challenges

Marketing and Sales Marketing and Sales is the biggest is the biggest challengechallenge

Advertising/ Advertising/ promotion and promotion and technology are the technology are the second largest second largest challengeschallenges

A very good cause A very good cause effect of the western effect of the western economy!economy!

Sales Advertising

Supply chain People

Technology

Major ConclusionsMajor Conclusions

First level of First level of involvement by involvement by mumineen mumineen

Many mumineen Many mumineen at survival stageat survival stage

Many business Many business people and few people and few entrepreneursentrepreneurs

Many waiting for Many waiting for a miraclea miracle

INVOLVEMENTINVOLVEMENT

STAGESSTAGES

1.1. InterestInterest

2.2. ActiveActive

3.3. EngageEngage

4.4. ActionAction

5.5. Results Results

Opinion about TMTF ForumOpinion about TMTF Forum

Don't know14%Good

Idea86%

Invited15%

Curious17%

Get Help53%

Volunteer

15%

What should TMTF do?What should TMTF do?

Response by PrioritiesResponse by Priorities1.1. Provide Networking OpportunitiesProvide Networking Opportunities

2.2. Provide Training CoursesProvide Training Courses

3.3. Provide one-on-one counselingProvide one-on-one counseling

4.4. Provide Financial ResourcesProvide Financial Resources

Should we seek advice from an Should we seek advice from an external consultant? external consultant?

49%

24%

15%

12%

Yes

No

Maybe?

Don’t Know

80% of business 80% of business persons like the persons like the ideaidea

Need to develop a Need to develop a good TOR for good TOR for assignmentassignment

When should we meet for TMTF? When should we meet for TMTF?

OptionsPreferences

Overall ProbabilityFirst Second Third

Friday pm 3     7%

Mon pm 1     2%

Sat am 6 3 1 23%

Sat pm 2 1 1 9%

Sun am 10 4 1 35%

Sun pm 1 2 1 9%

Wed pm 1 2   7%

Weekday pm 1   2 7%

Totals 25 12 6 100%ONCE every TWO weeks ?

Closing Thoughts!Closing Thoughts!

There is a high level of interest in There is a high level of interest in starting a businessstarting a business

There are many mumineen who do There are many mumineen who do not have an option except to start a not have an option except to start a businessbusiness

Many are waiting for a `Miracle’Many are waiting for a `Miracle’ One in a million chanceOne in a million chance WAIT FOR IT OR MAKE IT HAPPENWAIT FOR IT OR MAKE IT HAPPEN The choice is yours The choice is yours

REMEMBER!REMEMBER!

If you are really, really seriousIf you are really, really serious

Ask, enquire, follow upAsk, enquire, follow up There is HELP, but you will There is HELP, but you will

have to do the workhave to do the work These is no Golden GooseThese is no Golden Goose

Are you there yet?Are you there yet?