Universitas Muhammadiyah Yogyakarta (UMY) commits to fostering students’ interest and potential so that they can be competent individuals. One of the efforts to do it is through Student Entrepreneur and Business Incubator (SEBI) of UMY that students are supervised to run a business. To facilitate the students, the SEBI conducted a workshop on a business plan on Saturday (5/1) at Building of K.H. Ibrahim, floor 5, UMY.
Head of Office of Student and Alumni Development of UMY Muhammad Faris Alfadhats, Ph.D. stated that a business has become a milestone of civilization development. “Indeed, Rasulullah sallallaahu alayhi wa salam has exemplified a business. There are many business types as a macro business by a country or a micro business by an individual,” declared Faris in his opening remark at the workshop.
In modern contexts, a business is a common activity, but several cultures have shifted. “The business cultures have developed as how it runs and how to respond to it. For instance, 20 years ago a successful business should passed a number of processes and failures. However, it is no longer relevant due to information technology development that we can access as well as learn past failures and discover business methods having high possibility to succeed. Besides, to achieve success in a business, we have to create a business plan,” maintained Faris.
Meanwhile, a lecturer of UMY as well as a speaker of the workshop Sri Handari Wahyuningsih, M.Si. conveyed that to make a good business plan is by finding a business idea. “The greatest business notion commences from what you like as your hobby can be a business. Then, what if many people have similar hobby to yours and have run a business? Try to innovate as unique as you can and possess your own characteristics. Do surveys to find out how many businesses have the same ideas as yours and what you can do to create innovation. If you have already had the idea, you have to determine targeted markets as children, youths, and others,” explained Sri.
“Do not forget evaluating. You can use a SWOT (Strength, Weakness, Opportunity, and Threat) analysis. Your evaluation results will be utilized to measure, improve, and innovate your business, marketing strategies, and next actions,” suggested Sri.
Additionally, the opening of Business Plan Competition 2019 was also undertaken at the seminar. “Selected business plans at the internal competition will be funded till hundred million rupiahs. They will also join Student Business Competition of Indonesia (KBMI) held by Ministry of Research, Technology, and Higher Education as well as Student Entrepreneurship Expo of Indonesia,” told Taufik Akhbar, S.E., MBA, Head of SEBI.
He also informed several rules and regulations of the internal competition. “It is a group competition. The idea should be well-established and all members of a group should commit to running the business. In sequence, the business plan writing should comprises of an executive summary, a concise description of your business idea; background explaining why you choose the business based on research findings; product description; and management including market, operation and financial management,” mention Taufik.
The competition was addressed to UMY students and the business plan proposal can be submitted on 11 – 16 February 2019 at SEBI office at Building of A.R. Fachruddin B, floor 3.
