FINANCING, MARKETING & SKILLS FOR SMALL BUSINESS OWNERS

BUSINESS QUIZ

BUSINESS QUIZ is a free business questions and answers series designed to brighten and enhance business knowledge and skills to encourage entrepreneurs and other professionals to grow their business and as well assist intending business owners to start a business.

Market research proves that the major causes of business failure include lack of business skills and inadequate access to fund to start or grow a business.


According to our market research 80% of all people going into business fail within five years.


Further, 88% will not be around at year ten.That leaves only twelve successful people in 100! These statistics are truly alarming and discouraging.


In this part of the world people go into business and become entrepreneurs to gain appreciable level of personal and financial independence in order to serve their goals and commitments in life.


Yet the majority of the businesses fail!

WHY DO SO MANY ENTREPRENEURS FAIL?

Most entrepreneurs fail because they go into business blindly without the necessary skills to run the business.

Most business cannot afford sufficient capital to start a business or sustain an existing business as a result the business starves!


If business starvation is unaddressed it will eventually lead to business closure.

SO WHAT DO WE DO TO ADDRESS THIS PROBLEM?
Skills and Ideas Development Initiatives (SKIDI) suggested going for a weekly interactive quiz contest dedicated to business owners that would be interested to participate.


The brain behind the quiz is to enhance business skills and provide opportunity for business financing.The quiz contest will test the knowledge of entrepreneurs in all aspects of business such as operation, marketing, management, finance, ICT,
investment, brands and the stock market.
As a business owner, business quiz will prepare and empower you for business success and keep you abreast of business and economic views.



The quiz also aims to emphasize the importance of business intelligence in an enterprise especially (SME).

Apart from promoting your knowledge as a business owner it will also serve as a platform for financial empowerment to start or grow your business.



Every week you are opportune to win prizes in cash or business equipment.

For instance actual or prospective business owner that got appreciable business skills to manage a business but lack the needed fund to start or grow can go for a business quiz contest in order to gain access to win cash that can be pooled into business.

In other words a business can fail as a result of inadequate business skills especially if one starts business blindly without prior business Skills. A business is bound to collapse no matter the available capital if it is not properly managed.

Business quiz sharpens your business know-how, equips you with proper management skills and keeps you abreast with business trends every week.

If you can't afford to participate, you are advised to be a spectator. Other Benefits of getting involved in Business Quiz

Develops business skills and quotients It gives you opportunity to network with likeminded business persons as; you make contacts with them during the quiz.

They can become prospective customers or clients to your business.

Every business has challenges; Business quiz helps to address business challenges and brings success. It asks questions and brings solutions about innovative topics in business

It highlights real-world business ethics
It equips you with your newest favorite brands
It potentially gives your ego a boost
It might be trivial, but you just might learn something new

The quiz contest attracts fantastic prizes in cash and business Equipments every week. You can play and win as many times as possible. Remember: increased acquisition of business skills overtime develops business acumen and you can become the BIG ENTREPRENEUR you hoped for. The quiz is a battle ground for the sharpest knowledgeable entrepreneurs.



It will be a test of business knowledge and at the same time a tool for business skills and financing.
The more often you play the quiz, the higher the propensity to win cash or business equipment that can sustain your business. NOTE: The ultimate objective of the Quiz contest is to guarantee you fund to start or grow your business and boost your business skills.

Bye for now!
Business Quizmaster

PROSPECTIVE PARTENRS AND SPONSORS

Dear Sir/Madam,
BUSINESS QUIZ SPONSORSHIP/PARTNERSHIP
Thank you for taking the time to read this proposal

We are Skills and Ideas Development Initiatives an NGO registered as Incorporated Trustees in Nigeria to promote Small and Medium Sized Enterprise in Nigeria and other African countries.

We are writing to you asking for your partnership or sponsorship for the forthcoming SKIDI powered Business Quiz dedicated for SMEs.

SMES needed to have greater level of connectedness and responsiveness to their communities in Nigeria and other parts of Africa. But the fact is that this collective power is being underestimated for a quite a long time.

SKIDI is keen to ensure that these challenges are addressed by ensuring that SMES are the beneficiaries of this Fund and Skills enhancement project known as "BUSINESS QUIZ"

Small and Medium Sized enterprises make up to 90% of all businesses in Nigeria and it’s very important to give them a voice in the fight for access to finance, business networking and proper management skills.

SMES in Nigeria stand to gain competitive advantage over her global counterparts if they are giving opportunity to lead, and demonstrate competence in business management.

Government, individuals, organizations should adopt methods to promote and develop SMES.
SKIDI, an NGO has adopted an effective method to address these challenges. If SMEs can simply adopts Acquisition of sufficient business skills and look out for access for fund to supplement business activities then their problem will become a matter of history.

This is achievable if the weekly business quiz contest is organized for every SME owner and their management team across Nigeria. Apart from the fantastic prizes and business equipments entitled to winners of the contest and outstanding audience, business owners are opportune to network with other entrepreneurs that may be prospective customers or clients to their businesses. They can do more business and earn more revenue.

With the Launch of the first programme in August, it will be held on weekly basis subsequently.

In the past SKIDI organized Business Networking forum, loan programmes and Management training seminars for SMEs.

WHY YOU NEED TO PARTNER WITH US

Your organization is doing so many great things to promote Small and Medium Sized Enterprises. It is our hope that an association with your organization will just add one more item with an impressive list of SKIDI activities.

Sponsorship or partnership provides a great means of broadening your competitive edge by improving your company's image, prestige and credibility by supporting SKIDI events that iare gaining recognition recently.

Part of this growth can be attributed to the increasing numbers of small and medium-sized businesses involved in SKIDI activities. SKIDI activities attracts a good number of business owners.

This is an opportunity for anyone or organization targeting business customers or clients to partner with us and rely on our effort.

Your support and involvement in our weekly Business Quiz and networking events will provide an avenue to reach our diverse and influential crowd of business owners across Nigeria and the sub-Saharan Africa

Please take a look of the variety of marketing opportunities available for you
SPONSORS/PARTNERS RECEIVE MAXIMUM EXPOSURE TO THE WEEKLY BUSINESS QUIZ CONTESTS THAT IS SCHEDULED TO TAKE PLACE NATIONWIDE.

SPONSORSHIP/PARTNERSHIP OPPORTUNITIES
You have the opportunity to be associated with these events/programmes by way of sponsorship.
v Branding opportunity at the programmes venue by way of signage or entrance
v. The prizes for the business quiz /networking contest shall be purchased from your organization
v Premium or sample give away opportunity for your products or services.
v Logo included on all printed promotional Newspaper and magazines, advertising with message "IN CONJUNCTION WITH"
v Name included on all promotional radio commercials aired on the radio stations.

v Logo displayed on Quiz Materials and Business networking material and on presentation slides

v A personal endorsement by the management of the NGO (SKIDI)

v Access to the invitation list for Business networking and Quiz opportunities and for further business relationships.

V. Your Business will be recognized where it wasn’t before now. The programme will cut across the six geopolitical zones.

v other sponsorship opportunities shall be initiated when we meet face – to –face or at the stakeholders roundtable meeting.

Join us today as a sponsor/partner and take advantage of the opportunity to maximize your exposure to individuals, business owners, the government and other institutions.

Interested parties, associations, companies or individuals are invited to contact the Business quizmaster and The Head of missions, Skills & Ideas Development Initiatives (SKIDI).

We shall meet for a roundtable discussion with you and other stakeholders in your organization and then proffer ways this programme can as well promote your organization as a partner, sponsor or volunteer.

After the roundtable discussions, we will briefly contact you by phone or email if follow up is necessary.

We look forward to a future partnership with you. After all, we need each other. We share common goals and we can learn from each other’s mistakes and successes.

For this purpose, you are therefore cordially invited with this letter to get involved and provide your ideas.

Please do not hesitate to contact me at (phone number) or (email) if you have any questions. Please feel free to ask any question that you may have. Email address:

businessquizmaster@yahoo.com or call Henry @ 08035063809

Sincerely,
Henry Ogochukwu
Head of Missions SMEDC

WIN A YEARS SUPPLY OF BUSINESS PRODUCTS, LAPTOPS AND BUSINESS TRAINING!

YOU STAND A CHANCE TO WIN

TAKE THE QUIZ!

BUSINESS QUIZ (Test Your Knowledge about Business)
Choose correct answer (A, B, C, D)
ROUND 1
1. An Examination of Accounting Documents and of supporting evidence for the purpose of reaching an informed opinion concerning their property is known as?
A. Account B. Exemplifications C. Audit D. Evaluation

2. A monthly statement of account which a bank renders to each of its depositors is known as? A. Bank Statement B. Financial Account C. Bank Audit D. Banking Deposit

3. A percentage of the principal or of the total income that an agent receives as compensation for services is? A. Surplus B. Commission C. Cut out Pay D. Equity

4. Which of the following is not a term attributed for a business person that distribute goods to dealers or companies? A. Middleman B. Manufacturer C. Wholesaler D. Agent

5. A tax on goods such as alcohol or tobacco produced and sold within a particular country is called? A. local tax B. production tax C. Industrial duty D. Excise duty
BUSINESS QUIZ (Test Your Knowledge About Business)
ROUND 2
6. Which of the following is not a compulsory perquisite to starting a business?
A. Market research B. Working Capital C. Business idea D. feasibility study

7. A point where two or more computers networks meet and can exchange data is known as? A. Web Point B. Internet C. Gateway D. Datalink

8. A mutual fund that takes considerable risks, including heavy investment in unconditional instruments, in the hope of generating great profits is?
A. Stocks B. Hedge C. Portfolio D. Forex

9. A document that a supplier sends to a customer detailing the cost of products or service supplied and requesting for payment is known as?
A. Receipts B. Waybill Payment Slip C. Invoice D. Inventory form
10. Which of the following is not a financial instrument?
A. Bank B. Bond C. Forex D. stocks
BUSINESS QUIZ (Test Your Knowledge About Business)
ROUND 3
11. Which of these pricing strategies is adopted by government to influence the quantity demanded or supplied for a product or service?
A. Discrimination B. Ceiling C. Control D. Planning

12. Labour force comprise the following except?

A. careers B.Unemployed looking for employment C. Paid employment D. Traders

13 Which of the following best describes a well defined group of customers for which what you have to offer is particularly suitable?

A. Right Audience B. market Niche C. Target Audience D. Potential customers or clients

14. What is the full meaning of NSO

15. Market place comprised of all of the following but?

A. Government B. Traders C. Industries D. All of the above

BUSINESS QUIZ (Test Your Knowledge About Business)
Choose correct answer (A, B, C, D)

ROUND 4

16. The body in Nigeria responsible for granting a fixed term monopoly to an investor to prevent others copying an invention, or improvement of a product or process is ?
A. NPC B. NCC. C. NSO . D. NAFDAC

17. Which of these is synonymous to SEED MONEY?
A. Angel investor B. Bootstrapping C. Venture Capital D. Initial Investment

18. The balance after all deductions such as income tax, pensions and contributions, social securities is been done on an employees remuneration is known as A. Salary B. Wages C. Severance D. Take-Home Pay

19. Which of the following is a form of borrowing in expectation that expenditures will exceed revenue?
A. surplus Loan B. surplus borrowing C. deficit financing d. floating capital financing

BUSINESS QUIZ (Test Your Knowledge About Business)
Choose correct answer (A, B, C, D)
ROUND 5
20. The rate of profit in every sale is 20%; what is the ratio of the profit?
A. 20:100 B. 1:5 C. 5:1 D. 20:1

21 Voting rights of stakeholders is applicable in which of the following business structure
A. Partnership B. Company C. Public Corporation D. Sole proprietorship

22. What is the first indigenous Computer Company in Nigeria?

23. Which of the words is attributed to Nigerian equivalent of Wall Street where much of its business is done? A. Lagos B. Broad C. Eko D. Ikeja

24. Which of the following body is not responsible for the promotion of Small and Medium Sized Enterprise in Nigeria?
A. SMEDAN B. LCCI C. NIGEX D. NASSI

25. The life of any business is? A. Marketing B. management C. Operation D. Finance