Name of candidate: Jamie DrummondSubject: EntrepreneurshipCandidate #:Centre #:Territory:Teacher: Mrs. CooteYear: 2015Topic: Automobile Industry Pat’s car rental

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Table f Content

Chapter Pages

Acknowledgement................................................................................................................3Introduction..........................................................................................................................4Aims and Objectives..............................................................................................................5Methodology.........................................................................................................................6Review or industry.................................................................................................................7Presentation of interview......................................................................................................8Impact on self.........................................................................................................................9Conclusion ...........................................................................................................................10Questionnaire.......................................................................................................................11Presentation....................................................................................................................12-15Appendices...........................................................................................................................16

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First the researcher would like to thank the entrepreneur whom he had collected information from to understand and complete this S.BA. Special thank to the researcher father for assisting the friends in the way they did. The researcher could not have done it without them. Special thanks to the researcher teachers for taking the time out to ensure that he got the job done correctly. Your help is highly appreciated. Again thank you all.

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This project is an extensive research on the automotive industry. The articulate route of reasoning throughout this research will awake the awareness of the reader into the importance of entrepreneurship. The need was clearly observed that in order to gather substantial and detailed information, contacts must first made with the most experienced and efficient business organization. Therefore Pats Car Rental was identified.

Aims and Objectives

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The aim of the project s to find out how profitable and beneficial it is to be in the automobile industry.

The objectives of the project are to: Find out how to apply the different methods of creativity and innovation in the process of

creating a venture. To learn how to identify opportunities and use them wisely.

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Justification of Methods Used

Interview The interview will take 10-15 minutes and the total amount of questions that would be asked is five (5). This method was used because it gives immediate feedback and more in-depth information will be collected.

QuestionnaireOne copy of the questionnaire was handed to the entrepreneur and he was give a maximum of thee (3) weeks to complete the questionnaire. This method is not time Consuming and can be done at the convenience of the entrepreneur.A questionnaire would give the individual sufficient time to answer the questions.

ObservationObservation helps to validate information collected by means of the questionnaires or interview in order to provide authentic information on the entrepreneur characteristic an attitude.

LimitationsDue to the unavailability /absence of the entrepreneur the researcher did not collect all the vital information he had intended to.

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The automobile industry is a very profitable and has several different sectors. The most common businesses in these sectors are the gas station they, auto mechanics, car wash, insurance companies ECT...Depending on the specific sector you are in will determine the amount of profit that you will make. Some of the different areas have much persons involve while in others there is a great demand for more people to come in. Most Jamaican are discouraged by the government start their own venture because of the demanding taxes that they will have to pay. In areas where they are too many person involves the cost/price or their service/goods lowers to have a competitive edge over their customers, and after the government is through taxing these business there isn’t much left.Some entrepreneur increase their prices to accommodate GCT but their customers often complains about it or they find another business that is offering the same goods at a cheaper price

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Mr. Roan Wedderburn started his venture on July 4th 1995. Mr wedderburn use to operate a taxi in Negril and he developed a passion for car’s and decided to start a automotive business of his own. Pat’s car rental currently employs six persons, they have a lot of competitors but they are not a threat to them because they create a relationship their customers so that they will always visit again.Mr. Wedderburn has to continue to apply innovation to his organisation because the success of his venture depends on it. The business is at a very good location because everyone has to pass their in-order to get in to the town the business is very profitable but requires a lot of personal time.GCT is guarantee for m every registered company.GCT affects Pats car rental in a negative way because they have to add the percentage of GCT required by the government to their service and most times their customers complain about it the prices.It the business was in depth they could acquire money for the profit they had saved from the company.

Pat’s Car rental and Taxi began operating July 24, 1995 in the Town of Savanna-La-Mar Westmoreland. Since then they have always strive to fulfil their motto of “Going the extra mile” The Company has grown significantly with a range of vehicles including SUV’S. Pats Car Rental ensures that you travel in comfort and style. They are committed in providing their customer with quality and reliable services. They are proven to be both effective and efficient in their service. Their personnel’s are trained to tend to the changing needs of their client, therefore resulting in a high rate of returning clients. Pats car rental and taxi provides you with a fully insured car of your choice, with unlimited mileage, and a map of Jamaica. At their customers request they will be happy to provide their clients with a chauffeur at a reasonable daily rate. Their rats are among the most affordable in Jamaica and the Caribbean, and they are license by Jamaica Tourist Board. Their new and improved office s located at 5 Lewis Street Savanna-La-Mar.

This project has motivated me to start a venture of my own but it also created second thoughts in my mind .The main reason why most entrepreneurs start a venture is to make interest and the automotive industry is very profitable and has space for new markets in creative thinking. On the other hand most of the business in this industry requires a lot of personal time and travelling.

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Most of the products that you would be selling will be coming from foreign country so you would have to import the products for your business.Finally getting a loan to start a business can be very hard and them after you have implement your venture you will have to register it and then you will have to pay taxes to the government while at the same tie paying back your loan. So this project has created doubts and motivation in my mind.

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Conclusion

Mr Wedderburn business has been proven to be very profitable. Like any other business pats car rental has current challenges which they are working on, I was able to debunk the myth all you need is a good idea to start. Even though a great idea can start a venture you will also need other requirements of the entrepreneur such as management which is critical in the survival of any business.

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Questionnaire

1. When did you start the business?

2. Why did you start the venture?

3. Did you have any work experience before you start the business? Yes NO

4. How were funds accessed to start the venture?

5. How the opportunity did present its self to you? How many employees do you currently

employ?

6. What is the start up date of the venture?

7. What effect does GCT has on your business? Do you offer your services to other

communities or places?

8. Do you have competitors? Yes no

9. Are your competitors a threat to you? Yes no

10. Do you have a completive edge over your customers? Yes no

11. Is your business profitable? Yes no

12. Are you in a partnership?

13. How do you apply innovation to your business? yes no Are you at a good

location? Why? Does the venture require a lot of personal time?

14. What is the overall performance of the business?

15. If capital is needed how will you get it?

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Presentation

1995 1998 2003 2007 2010 2015

0%

10%

20%

30%

40%

50%

60%

Growth of venture

Growth of venture

This graph shows the growth per year that Mr. Wedderburn venture expanded and grew.This graph shows that the venture grew steadily between 1995-2003, and from 2003-2007 the venture grew by a small margin. From 2007-2015 the business expanded significantly more that it has for the past 9 years.

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This is showing the characteristics of Mr wedderburn.

characteristics of the entrepreneur

PersistenceHard WorkngSelf-confidentAchieement orientedVisionaryInnovative

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Table showing the entrepreneur work experiences and education before he started his venture

This table shows that he entrepreneur had work experienced and was educated before he started his venture.

This graph is showing some of the challenges that Roan Wedderburn currently faces

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Work Experience before venture

Education

Taxi Operator CXC/CSEC/CAPE

GCT Getting Qualitiy Vehicles Pricing His Services0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Figure1

Challenges

This graph shows that Mr. Wedderburn main problems that he currently faces.

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Appendix

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