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Tuesday, January 15, 2019

Starting a Business: Musical Instrument Dealership

The Opportunity harmony has bureau to attract al nearly both(prenominal) the heap. In a country corresponding Bangladesh historic everyy people be bulge undecomposed medication for a yen clip. That implies that melodic industry rotter attract only bigger and bigger in the future which should ontogenesis the curb on of the medicamental legal instruments. And with only a few competitors the opportunity in symphonyal instrument franchise and selling medicinal drugal instrument jakes be re aloney capacious. In our research we use up observed that forthwith sidereal days people ar very sucker conscious. Keeping that in mind we argon introducing clairvoyance Guitar for the get-go time in Bangladesh which is a very much re straightwayned discoloration in the whole world.It is a Japanese brand who wanton aways electronic guitars and basses. It is a very step forwardular brand in more countries right now. extrasensory perception is well kn avow for their s tylist guitars and basses. Many popular controversy and metal bands ar using clairvoyance recently and we believe it bequeath be very popular in our country as well because thither atomic number 18 all(prenominal)ow for of rock and metal bands in our country now. We be introducing this new brand because match to our analysis it leave give us a competitive favor over our competitors and it provide overly antitheticaliate our troupe from all the major(ip) players of the industry.Apart from launching ESP in Bangladesh we atomic number 18 in addition fling installment system which should attract more(prenominal)(prenominal) than students who atomic number 18 the main(prenominal) propose customers of our company. With the help of the technical and management team of EBS we ar as well broadening free servicing of the medicational instruments. Overall we earth-closet feel stunned that the opportunity in the music industry is colossal. We believe we di gest trespass this for our benefit. We intend to do that by our creative melodic theme and meeting all the customers extremitys. results and Services Tune and trick allow for sell new and apply musical instruments and accessories.Our primary items allow be electric and acoustic guitars, amplifiers and electronic keyboards, drams and ab step to the fore local instruments cargon harmonium, tobla and flute. In addition we ordain take a leak a full service, on-site enliven and customization part (band instruments, guitars and electronics). Tune and Play testament offer several name brand instruments such as Electric and acoustic guitars by ESP. Bass Guitar rudimentaryboards Pianos Drums Amps Mixer Microph nonp atomic number 18il central processing unit Sound-Card Foot-Pedal Violin Saxophone A very well stocked fol turn of veritable(a)ts oneer department to contri only whene the to a higher place items. In addition to complete repair services forour pr oducts, we bequeath emphasize upgrades and customization items to develop other in add streams our competitors take non considered. When carrying a brand name item conflicts with giving the customer the vanquish all-around value, we lead always pursue the product that best suits our clients interest. trade Analysis Target Market Our main localize customers are musicians who are ready to pay anything for their desired instrument.However within that musician customer,thither arediffe employ segments, ranging from professionals, to semi-professionals, to hobbyists and novices. We intend to target musical novices, hobbyists, and semi-professionals. These groups admit the largest fate of musicians,with the extensiveest amount of disposable income. These grocery segments gouge generally be approached with the same trade techniques, and sack up be very truehearted when do by properly. We are also targeting the students of those schools where Music is offered as a mandatory h uman body to them.Moreover there are many music school are present at capital of Bangladesh, and the numbers are in rise. Reasons for Buying our Product We are the only store in Dhaka who go away offer ESP brand instruments for which musicians have a high use up. We will also offer the novice to semi-professional musician, the convenience of a wide selection, rum offers, undergo and reliable staff, and an educationally-focused community center all in one localisation Again most musicians need support and service. The instruments that we sell stick out be difficult or impossible for end users to service.Potential clients tend to try on stores that keister fulfill these services by means of word of mouth referrals or by using direct shopping experiences. These musicians come back time by and by time if they feel they are get a picturesque deal. Therefore, we will ensure enough numbers of technicians for them always, so that they can take in solution of their instruments p roblems any time. We will also leave behind one division warranty for the brand items. Analysis of Marketing info To know slightly the customer favorences and needs towards musical instrument, we conducted a securities industry survey. later on successfully completing the survey analysis, we had a more crown idea of what a potential sullyer or musician desires from a music store. For our survey, we targeted people whose who are above 15 classs old. We arrange that 53% people prefer rock music, 27% people prefer heavy metal and rest of the people like classical and pop music. 47% people like to profane Guitars from a music store, 27% 1ike to buy Keyboards, 13% like to buy Drums and others prefer to buy rough local instruments like Harmonium, Flute etceteraWe anchor that people ask both cash and installment payment in stock(predicate) in the store. We install out, almost 40% people usually buy instruments for their learning purpose, 35% people buy because they are in band, and rest of the people buy by conserveing their favorite artist. 80% people desire lifespan free servicing if the instrument is not broken and rest of the people prefer stores should give family-end gross revenue with 10%-15% discount. For people, Dhanmondi, Panthapath and Uttara as the most convenient place fir shopping. constancy AnalysisSince the inception of Bangladesh, basal musical instruments were being manufactured by some local manufacturer. The department was being firing by some minor players and spell out for marketing for internationalistic brands didnt exist at all. The market of musical instrument grew massively during late 70s and early 80s when many artists &038 bands were emerging. Demand of many international instruments like guitar, drums started to increase a retentive with those regional instruments. From that time the need of importing instruments of conglome mark brand had became a lucrative opportunity for entrepreneurs.Further, with the tec hnological advancement and vastly growing demand, more and more instrument seller were becoming available but there was not enough legal and economic support to install any authorized dealership or franchising for the provision of brand demand. Though 40 divisions back from now Melody &038 Co. , one of the musical instrument dealers, started their origin in Old Town of Dhaka during the Pakistan era, they were just a dealer of regional instruments like harmonium, Tablas etc. Industry situation Although enough harvest-festival has taken place in the musical instrument sphere but most of it can be attributed to the haphazard brand growth.Similarly Value Added Services have grown but are still a drop in the bucket. Now that the arguing has been introduced in the instrument sector some very positive push have been observed on the growth of the sector in a short span of time which is resideed to continue to grow for at least next couple of years. Key Success Factors Potentiality of music industry As the music scenario in Bangladesh is improving and getting the tinge of western make up ones mind, people are also getting interested in western instruments like electric guitars, drums etc. Emerging brand intelligence Now days, musicians and artists are being more conscious about the brand. They now prefer brand over court, as brand represent their image, name and quality. Globalization imputable to globalization the market in Bangladesh is also getting the attention of the rest of the world. MNCs from protestent side of the world also penury to access this new market before any of their competitors. So international instruments brands will eagerly enter this market to diversify their risk. Economic stability Though being a developing country, economic condition in Bangladesh is now days pretty much stable.So the get military force of Bangladeshi people is also healthy enough for these instrument descentes. Trends scientific Technologically Bangla desh is about a couple of years back go out from the developed countries. As a result of that technological advancement in musical instrument is not that significant for last few years. Due to lack of proper knowledge and equipments there is no authorized manufacturing sector for instruments, except those handmade instruments. Political Politically Bangladesh is a very unsound country. But this precise business has no connection with politics at all.But considering the international DFI or Franchising, policy-making assessment is necessary. Due to semipolitical corruptions and instability, Bangladesh is sometimes favorable or unfavorable country for MNCs depending on the situation. Considering the political aspect, this instrument business does not have much to care about. societal As this is related with culture and art, societal influence has tremendous impact over our business. Most societies of Bangladesh are conservative and they are connected with traditionalistic Bangla deshi culture.These influence traditional Bangladeshi musical instruments like Harmonium, Tablas etc. But guitars &038 drums are more promising considered as western influence which is sometimes considered as a negative aspect by them. So to certain extent societal factors drive the industry. Assessment of Industry By considering the fivesome forces of an industry, we can assess our musical instrument industry from five different sides. negociate Power of Supplier In this specific business sector, suppliers have enough power to dominate over instrument dealership business in country like ours. Because of the economic sloth advancement, the suppliers (the brands) do not usually that much care about authorizing dealership in our country. Also the brands that are more popular in Bangladesh will have a higher(prenominal) demand, any musical store will want to be a licensed dealer of them. salute of selecting and switching suppliers is preferably high. All these factors de fronti erine the suppliers dominance over the industry. Bargaining Power of Buyers Presence of a few numbers of stores and dealers. represent of buying brand products from abroad is quite high and heavily taxable.These factors determine the buyers low power over the industry. Threat of new entrant High opportunity of profitable venture. The market is not saturated yet. emit burden of government rules and regulations So, the threats from new entrants are high in this industry. Threats of veer Substitute products are limited and weak. Substitute products like other recreational products are not completely substitutable. So, threat of substitute products is quite low even do not exist at all. Rivalry among Competitors A very few established stores and dealers are present.Most of the other stores are discrete and unstable, which usually sell those regional instruments like Harmoniums, Tablas. The cost of fruit is quite high. Products are rated at fixed price. Switching betwee n products is costly. So rivalry among the existing competitors is moderate. It is not extreme because of less switching power of customers and fixed price, and also not much less because of the low number of dealers. Competition Analysis After doing some research we have come with some direct, indirect and also some future competitors of our music store. major ones are identified. 1. alert broad music stores In Dhaka city, there are 4-5 huge music stores which are OMNI, World music, Golden music and Music melody. They all have an approximate monthly change of 10-15 lacs. Among our main competitor OMNI is our main concern. OMNI is the dealer of YAMAHA guitars and Pearl drums, which cost them a huge amount. Their initial investment was 2-3 crore, they business is mainly equity based, they didnt take any loan because OMNI music store is a part of the huge business group. They spended their break even 4. 5 years.Demand for their music instrument is stable but on some special occa sions their gross revenue increase like on valentines day, pahela baishakh, independence day etc. Key success factor are commitment, honesty, right price quality and loyal customer. The other huge music stores mentioned earlier like golden music, music melody, world music whose business share is almost similar. They have a monthly sale of 10-12 lacs. They also bought many different brands that differentiate their music store. Music melody produce some local instruments but in a small scale. picCompetitors Position based on Sales 1. Existing small music stores There are some small competitors in this market. They mainly get their product from the big competitors because investment cost need a huge amount of money to bring instruments. They also sale regionally produced instruments like harmonium, bahala etc. This kind of stores is also our concern because some of them may have the potential to grow as a huge competitor. 2. Future forthrighting of music store Music appeals everyone i n the world. Music industry in Bangladesh is growing at a steady rate.Because now days Nokia, Benson &038 hedges etc are coming up with competition to bring out the talents from our country. This gives even small time musicians grow in confidence to buy some heavy instruments. Also music TV programs in all channels and music schools are establishing in Dhaka this also demand music instruments. So as demand for music instruments are growing, the more there will be openings of music store. Competitive advantage In order to sustain and expand in this competitive marketplace we will take effective last and implement them.Our store is providing the product of ESP. We will provide brand uniqueness. Also we will offer some after sale service to our customers who will buy expensive instruments costing more than 50,000tk. We are also providing some different service like an deputise offer of your instrument with similar instrument but this would not be similar for everyone like we will che ck the instrument offset printing that judge whether it will be profitable to exchange so that after repairing we can sell it again a good price also sometimes we may require some money with the instrument depending on the product.We will also repair different instruments in our store with a tokenish charge of starting tk. 1000. Also we will provide customers with the service of customizing the instruments like color requirements, putting a tattoo or art, band logotype on their guitar or other instruments charging differently depending on instrument. These services make our stores different from others. Marketing Plan Pricing Policy For pricing, we divided our products in two segments. For ESP brand items, we are going to follow cost based pricing policy and for other products, we are going to follow competitor based pricing policy.These pricing strategies will help us sustain in the market, as well as make profit. Cost Based Pricing Policy In this policy, we would consider all our expenses. These let in transportation cost, utility cost, rental cost, promotional cost, storage cost etc. Once we find out all our expenses, we would divide it by the number of instruments kept in our store. This will give us expense per unit. After that, we would add the cost of the instrument itself with the expenses per unit. Then we will add 30% profit margin. An example is shown below sell price = Total Cost / ((100-margin) / 100) If Total Cost of a guitar is TK 70,000, thusly by applying this formula, we get Selling price = 70, 000 / ((100 30) / 100) = TK 100,000 Competitor based pricing policy This is a mode where we will use prices of the competing products as a benchmark instead of considering own costs or the customer demand. This will be applicable for products that my competitors are offering as well. For example guitar accessories, amps, keyboard, piano, drums etc.The reason for selecting this strategy is because it would be really difficult to survive in price wars with my competitors. They have more experience and they are also in this business for a daylong time. As a result they have already covered a lot of their investment. This means they can offer products at a lower berth price than us. Place Our store will be located in Panthopath, Dhaka. It will be situated near Bashundhara City. Reasons for selecting this place are as follows -some of my competitors are located here. This means customers will prefer this place, since they have many options. since our store will be outside Bashundhara City, we can operate at a comparatively lower rent. -Panthopath is lucrative place for conducting business. -as there is satisfactory transportation facility, people can easily visit our store. -Since there are some jamming pads located near our store, people are likely to pay us a visit. After some years, we are preparation to expand our business to some other billets. One of our priorities will be Uttara. This is because looking at the curren t market scenario, there are no musical stores in Uttara till now.Product Our main focus is ESP guitars because ESP guitars are unique and are preferred by a lot of the younger generation. They like its exceptional designs. Some of the designs available are X-shaped, V-shaped etc. Besides that, the sound of ESP guitars is good for both riffs and jumper cable guitar. For other guitars, it is tough to match the price of ESP, providing the same quality. Promotion strategy Ourcritical marketing program will be the grand opening, so we will place our initial advertising to give the greatest coverage.Our specific goal for the event is to create a big buzz for the local music community has ever seen regarding a new store. We will target our desired customer base using radio, newspapers, hand leaflet, banners and word of mouth. At present, radio is the easiest way to reach musicians for the simple reason that the love of music is what drives us to become musicians. Newsprint reaches a lar ge portion of the public, allow them see whatwe have tooffer before making a slip of paper to the store. Large billboard and banners in different areas and hand leaflets are also very useful way to inform the people about our promotional activities.We will also have regular advertisement in different youth oriented magazines. Another promotional platform is to telecast our advertisements in different area based local cable channels. This is also a useful tool to inform people in economic way. intelligence activity of mouth is the one area we really hope to see develop, as a personal endorsement by a customer is value more to us than what any advertisement can obtain. Distribution We will follow the following strategies 1. Direct purchases from manufacturers generally the best price, but higher minimum orders. 2.Purchases from national distributors large selections, good prices. 3. Purchases from regional distributors small selection, sightly pricing. Management team We bel ieve an efficient management team can increase the productivity of company. And a productive workforce can be an asset for a company and it can provide the company with a competitive advantage over the major players of the industry. We have started this business on the basis of partnership rules and regulation. There are seven partners and we all are the students of North South University.We know each other for a long period of time and we believe with our co operative effort we can make this company a very successful one. As we all are partners of the company and have contributed equally to the initial investment so all of us will be included in the decision making process. But for instant decision making we have disposed(p) an organ gram. Chairman M. Riaz Mahmud CFO M. Nahian Morshed Board of Directors M.Faizur Rahman Board of Directors Mustafa Waki Chodhury Board of Directors Mohona khan Board of Directors M. Shahriar Firoz Board of Directors Rizon Minhazur Rahman We are hiring 5 gross revenue executives, who will run our store. Our requirement is H. S. C. passed, fluent in English and have basic computing device literacy knowledge.We will hire persons who are with good interpersonal skill and can convince the customers easily to buy instrument and behave well with the customer so that they remain loyal and happy with our service. Delivering Process Our business is an import oriented business. So, well have to wholly depend on shipping for the oral communication process and also container trucks will also be involved to throw the instruments as the port is situated in Chittagong and well have to transport the items to Dhaka. Customers will have the responsibility to transport their bought product to their favored destination.For payment to the promote company we will follow the Letter Of Credit (LC) system. In this system, we will get affiliated with an international depose which have subsidiary in Bangladesh. The international bank will have to be selected as the rise company might have trust issues and the international renowned bank will help us gain reliability. As soon as we receive the products, we will issue an LC. As our chosen company ESP is an established brand worldwide, they will take responsibility for the shipments. We had to get a license of ESP to get their permission of selling their product.The licensing took a great toll of our investment as we had to pay BDT. to ESP. According to the license, we need to happen upon some requirements which are their benchmarks. We had to show projected sales and their requirement was to achieve an average of BDT. 50 lakh mark yearly within 5 years. We had to show them our work on agreement sheet, income statement and break even analysis as they were looking into our business feasibility. Also they checked the location of the store to find out if enough demand will be caused from the place factor of four Ps. We reached an agreement that we will to learn our ser vicing employees according to their training methods to create the same environment and to abide by with their customer service. We also had to show them an overview of the demand of their brand ESP in Bangladesh. Financial Projections Income Statement Our income statement is initiated with finding out the sales of low month and it is utterly based on our surveys. We first found out the full(a) market value in terms of BDT. We went through our surveys and found out the competitors yearly sales and the total represents the presumable market size.As we are in the initiation stage we are assuming to get a hold of no more than three percentage (3%) of the market size. We did a sales forecast for every month. For starters, we assumed a growth rate of 0. 5 percent for the first three months which gradually change magnitude to 1 percent and later we ended the first year with a growth rate of 2% in the last three months. The increase growth rate will be as a moment of our extensive m arketing policies. The first years growth rate being only 12. 65% percent, we had to incur losses in every month. The econd year, the yearly growth rate we have assumed will be 12. 68% owing to the steady growth rate every month. And tercet year we expect a growth rate of 16% approximately. For our cost of goods sold, we presumed forty percent (40%) of our sales and we counted our sales discount to be 2. 5%. Another variable cost is sales commission of one percent (1%) of sales which is categorized as selling expenses. Fixed costs include both selling and administrative expenses. Selling expenses include store salaries of BDT. 20,000 per month, rent of BDT. 50,000 per month, advertising expenses of BDT. 5,000 per month, utility of BDT. 5,000 per month and dispraise expenses of BDT. 250 per month. The administrative fixed costs consist of salaries which is monthly BDT. 10,000, utility monthly 2,000, insurance monthly BDT. 2,000 and depreciation expenses of BDT. 200 per month. We ex pect to reach the break even in 6. 62 years and we have shown income statements for 10 years just for getting an idea of the concluding income in following years. Sensitivity We have shown sensitivity analysis changing the sales revenue by five percent in both directions.For trounce faux pas scenario with 5% downfall in sales, our assoil loss in first year will rise by more than BDT. 70,000. In the most likely scale, we also incur a loss of BDT. 105,000 approximately and best case scenarios with 5% sales increment, net profit will be almost BDT. 33,000. For 2nd year, most likely case scenario will produce a profit of BDT. 342,566 and clear up case scenario will produce profit of BDT. 155,858. But, the best case scenario will generate less net income than most likely case because of tax rules. The tertiary year most likely case will see us earn a net income of BDT. 04,398. We have also assumed the worst case and best cases and if that happens we will have net income of BDT 508 ,314 and BDT 700,483 respectively. property-Flow Statement currency flow statement is the way of constructing the cash inflows and outflows according to type of activities such as direct, investing and financing activities. It gives us the idea about if the company will be profitable over the years by generating fitting cash and if it will be able to pay off its debt. We have done cash flow statements for 8 years and those will be included in the appendices.For our cash flows, we followed direct method starting with the operating activities which includes inflow from sales revenue and outflows from different expenses like cash nonrecreational to suppliers, salaries expenses, rent expenses, sales commission, advertising expenses etc. in investing activities, outflows includes BDT. 10,000,000 of get of assets, other investment of BDT. 1,000,000 and purchasing of contract of rent BDT. 1,000,000 and there are no inflows. Financing activities has inflows form loan and owners inves tment worth BDT. 8,000,000 and BDT. 7,000,000 respectively. exchange outflows from financing includes loan payment of BDT. 171,438 per month. The payment of installment continues till year 7 when we paid off our debt. Our total cash flow will be negative till year 4, first quarter and since then its uprising. But we maintained a cash balance from the beginning generated from loan which will see us through these periods. From first year, our cash balance is thind to BDT. 2,004,607 from BDT. 2,910,411 which is the starting balance of the first month. Second year it is reduce to BDT. 1,398,301 and by the end of year three the cash balance will be BDT. 20,853. Sensitivity The sensitivity analysis of every year attached to appendices will show how much the expected cash flows can differ when we consider worst possible and best possible cases. The first years best case is likely to reduce the outflows by about BDT. 120,000 but the worst scenario will increase outflows by about BDT. 117,0 00. the aid and third years sensitivity analysis shows the same effect trim or increasing the cash outflows in best and worst cases respectively. symmetricalness Sheet Our balance sheet shows how much the venture capitalist can depend on our business.In the balance sheet we tried to envision out the total asset each year as the first objective of a business is to maximize the value of its assets. We also showed if the assets matched the liabilities. Our total assets included cash, inventories, receivables, other current assets categorized as current assets and long term assets consists of non current assets, accumulated depreciation etc. Current liabilities are payables, short term debt and others while non current liabilities are long term debt and others and these two makes up the liabilities part. Equity has only common equity invested by the owners.For most of these items, we tried to maintain a specific percentage of sales such as for inventories, we maintained 20. 69% of s ales, 40. 14% of sales as short term debt etc because we know these items are vulnerable to the change of sales and move in the same direction. Our first years total assets are BDT. 17,350,008 while the next two years it went down to BDT. 16,912,962 and BDT. 16,623,039. This can be associated with the increment in negative cash flows or increase in outflows. But its uprising from then as we expect it to rise as high as BDT. 5,481,609 in eight years. A significant change occurs in year seven as we reach break even our total assets rises from about 20 million to above 24. 5 million. This is because of the rise in cash balance that year after recuperating the total investment. Sensitivity By changing the sales by 5% positively and negatively, we found out the best and worst case scenarios which can contribute to the change of our total assets. Again, as we are looking to maximize the value of our assets, we have to be conscious about what the best and worst situations can do to our bus iness.For the first two years, the worst case scenario doesnt do much damage as the reductions in total assets are by about BDT. 50,000 from the most likely scenarios BDT. 17,292,408 in first year and BDT. 16,846,620 in second year. While the best case scenarios in the first two years see our total assets to rise to BDT. 17,407,482 and BDT. 16,979,158. The third year the change about BDT. 75,000 in both cases as the best case scenario puts our total assets to BDT. 16,698,871 and the worst case to BDT. 16,547,041. For al these time, the increases and decreases in total assets are backed by the retained earnings portion of owners equity.Breakeven lucre Back initial Investment ?? -15,000,000. 00 Year 1 ?? 1,061,866. 91 ?? -13,938,133. 09 Year 2 ?? 1,450,954. 8 ?? -12,487,178. 20 Year 3 ?? 1,739,046. 20 ?? -10,748,132. 00 Year 4 ?? 2,119,043. 11 ?? -8,629,088. 89 Year 5 ?? 2,667,444. 37 ?? -5,961,644. 52 Year 6 ?? 3,328,314. 32 ?? -2,633,330. 20 Year 7 ?? 4 ,203,767. 76 ?? ,570,437. 55 Year 8 ?? 4,366,613. 47 ?? 5,937,051. 02 ?? 11,517. 17 228. 6438216 0. 26421429 Pay back in years 6. 626421429 Exit Strategy Our ongoing business is Musical instrument dealership. Our exit strategy is a mixture of resolution and our own strategy. First we will liquidate some percentage of our assets. We are planning to sell those underperforming assets at a lower price and we will also invest some additional capital to establish a diversified service line.This will be actually a transcription studio as we are planning to seize the opportunity created by lack of recording studio in Bangladesh. We are planning to open a recording studio which will contribute to the uprising music scenario in Bangladesh. Due to lack of quality music studios, we believe our exit plan from musical instrument dealership to recording studio will shift our position from decay to a growing stage in company life cycle. It will be our long term plan because we do not want to loose the face value of the product. Initial Investment Rent (4 months)= Tk. 200,000 Equipments (Estimated Average per unit) Electric Guitar(5*30,000) 150,000 Bass Guitar(5*30,000) 150,000 Acoustic Guitar(20*3000) 60,000 Piano(2*100,000) 200,000 Keyboard(10*20,000) 200,000 Drums(5*30,000) 150,000 Mixer(3*50,000) 150,000 Microphone(5*10,000) 50,000 Processor(5*20,000) 100,000 Accessories(Strings, Cables, Tuners etc) 90,0000 early(a) Equipments 100,000 Total 1,400,000 Estimated Initial Marketing Cost=300,000 Furniture=100,000 Reserve For Cash Requirements=3,000,000 Dealership Cost=10,000,000 Total Initial Investment=15,000,000 ConclusionWe have worked on this business plan for the last three months and gathered all the related information about the music industry. After analyzing all the selective information we have came up with the idea investing in this business can be really challenging but profitable. If we can survive through the initia l trouble we can diversify our business by investing in different regions of Bangladesh. In the era of communication people are very fond of the creative ideas and we believe our business is creative and unique enough to attract the potential customers. Reference www. google. com www. yahoo. com acct. tamu. edu/smith/acctwebs. htm Haque, Akkas &038 Ashif (2008) Three taxes of Bangladesh

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