Notes
SMEBase.com is a social networking site for Small and Medium Sized Enterprises ( SMEs ). It allows owners / managers of SMEs to network with each other and can be described as the `Facebook for SMEs`.
In addition to standard social media features ( friends, like, chat, wall, photos, etc, ), SMEBase has many features which allows SME owners / managers to virtually manage all aspects of their business from any internet enabled computer. For example, SMEBase has a complete enterprise management system called BizTools which has options like Accounting, Human Resources / Payroll, Customer Relationship Manager, Project Manager, etc.
SMEBase will be launched on Monday, 6th of October 2014.
SMEBase has two types of memberships: Standard Membership which is FREE and Premium Membership which costs £30.00 per year.
The following are some of the features available to members of SMEBase.com:
Mission and Vision Our mission and vision are as follows: • Mission Our mission is to provide an affordable platform from which owners and professionals of SMEs can run their businesses from as well as network with each other.
• Vision Our vision is to be among the top five social media websites for SMEs within five years.
Market SMEBase will be targeted at millions of SMEs all over the world. According to government figures, there are around 4.9 million and 14.75 million SMEs in the United Kingdom and the United States respectively. There are millions more worldwide. SME owners / professionals will find SMEBase an affordable platform from which they can run their organisations from as well as promote their products and services.
Memberships will be marketed directly to owners of SMEs as well as to professionals ( Accountants, Business Consultants … ) whose main clients are SMEs.
SMEBase will also be marketed to institutions ( e.g. British Chambers Of Commerce, Federation of Small Businesses, etc ) whose main members are SMEs.
Ten reasons why SMEs will be interested in SMEBase.com.
1. News SMEBase.com will contain the latest news relating to SMEs. Everyday, the news section will be update d with news / opinions gathered from popular SME websites.
2. Networking Like other social media sites, members will be able to connect to each other and build their list of connections. Members can Chat, Create Groups, Share Photographs / Documents, etc.. Through networking, members can promote their products and services.
3. Enterprise Management System Biztools Enterprise is a complete management system which has everything most SMEs require to manage their organisations. Options in Biztools include Accounting, Email Marketing, CRM, Human Resources / Payroll, Project Management, etc.
Any SME will find it far more cost effective to join SMEBase as a Premium member ( at only £19.50 per month ) and get the full options of BizTools than to purchase systems from separate software vendors.
For example, say an SME wanted to purchase systems for the following: Accounting, Customer Relationship Management, Human Resources including Payroll and Project Management. As there are few software vendors that offer all of these systems together, the SME would have to purchase each system from separate vendors. At an average price of £20 per month, it would cost the SME at least £80 per month. The SME would also have difficulty getting all the systems to "talk" to each other.
4. Fund Raising SMEBase has two options for members who want to raise funds for their businesses:
- Crowd Funding: Members seeking investment can pitch their ideas, projects, etc to potential investors.
- Fund Finder Database: Members can search SMEBase?s Fund Finder database for sources of funding. Searches can be done by Type, Category and Keywords.
5. Online Shop Members can sell their products online by setting up online shops using SMEBase?s shop setup tools.
6. Jobs The latest SME jobs are posted everyday.
7. Website Manager SMEBase has a website creator which allows members to easily create websites.
8. Events Manager This option allows members to promote their events as well as receive alerts for upcoming events.
9. Low cost Advertising Members can advertise in the classified section of SMEBase at very affordable rates.
10. Cloud Based System SMEBase is fully web based which means that SMEs can run their business from any internet enabled computer. SMEs will not have to worry about hardware, backing up their data, etc.
Marketing The following are some of the ways in which SMEBase will be marketed:
• Direct Marketing / eMail Shot. We have built a database containing the names and email addresses of over 75,000 SME owners and professionals. A week before the launch date, we will email details of SMEBase to these SMEs.
• Advertisements Regular adverts will be placed in various SME publications as well as popular websites visited by SME owners and professionals. Where possible ( and affordable ), adverts will also be placed in newspapers, on television and radio.
• Web Site / Search Engine SMEBase will be registered in hundreds of search engines including Google, Yahoo, Alta Vista, Ask Reeves, etc. Search engines are used by millions of internet users searching for products and services. Google alone has over 250 million users everyday. Registration with most search engines is free. However, in some cases, a fee is required in order for a website to appear in the first few pages listed when a search is done.
Competition Our main competitors are social media sites like FaceBook and Linkedin which are used by SME owners and professionals. However, unlike these sites, SMEBase was developed specifically for SMEs and has many features ( e.g. Biztools Enterprise Manager, Fund Finder, SME News … ) not available in these sites.
SWOT Analysis
• Strengths a. SMEBase is a comprehensive social media website which has everything required by owners and professionals of SMEs to manage their organisations, network with other SMEs as well as promote their products and services.
b. Unlike other social media websites, SMEBase was developed specifically for SMEs.
c. The subscription fee for membership is far lower than those of similar websites.
d. SMEBase will be targeted at one of the largest markets. With over 4.9 SMEs and 14.5 SMEs in the UK and USA respectively ( and millions more world wide ), the market for SMEBase is huge.
• Weaknesses a. Initially, a lot of people will be sceptical that SMEBase is as comprehensive as it claims to be. A lot of marketing will have to be done to convince SMEs that SMEBase is the ultimate system for them.
b. Some SMEs may also be worried about storing their data in a cloud based system like SMEBase. Again, a lot of marketing will have to be done to allay these fears.
• Opportunities As the membership base grows, there will be many opportunities to enhance the system based on the feedback received from members.
• Threats The main threat is that some people may try to hack into our database to get information on members. Others may try to infect SMEBase with viruses. We have minimised these threats by installing SMEBase on a secure server. We have also installed powerful internet security software to protect SMEBase from hackers.
Management Team Bayo Akindeinde ( Director Of Business Development ) Bayo is a leading business development services expert with over 22 years of relevant experience designing and delivering small business advisory services and entrepreneurship programmes in the UK, Central & Eastern Europe and sub-Saharan Africa. He has also implemented two business incubator programmes in Estonia & Bulgaria.
Bayo was Director of Private Sector Development for Nathan Associates UK, and designed and implemented a small business diagnostic service, the " Business Health Check" for SMEs in the West Midlands. Bayo holds an MBA from Aston University and a B.Sc.(Hons) in Animal Science from Leeds University. He is also currently the UK representative on the Board of the Centre for Development of Enterprise (CDE), in Brussels.
Olusegun Ogunsola ( Director of Technology ) Olusegun is the founder of Diligent Technology Group. He has almost 30 years experience in software development and has worked on a wide range of projects for major clients like National Power, British Steel, Sahara Group, Lagos State Government, etc. Olusegun is an expert at developing management applications and is the creator of Diligent ERP, a comprehensive cloud based enterprise management system which has the key modules ( i.e. Financials, Human Resources / Payroll, Marketing / CRM, Office Manager, etc ) required to manage any organisation. Olusegun holds a B.Sc in Industrial Engineering from Roosevelt University, Chicago and a Post Graduate Diploma in Software Engineering from City University, London. He is a member of the British Computer Society. Staff The following people will be employed in the next twelve months:
Managing Director Head of Technology Head of Business Development Systems Tester Systems Tester Marketing Officer Marketing Officer
Office Space An office large enough to accommodate at least 10 people will be rented within the first three months.
Capital Required SMEBase requires an investment of approximately £30,000 which will be used to cover initial setting up and operating costs. Please see financial projections section for more information on how this money will be spent.
Conclusion The market for SMEBase is very huge. There is no SME website as comprehensive as SMEBase for such a low membership fee. There is little doubt that the SMEBase will be successful if it is funded and marketed properly.
