Catalysing Bangladeshi handicrafts into Finnish market : a comprehensive e-commerce business plan for CraftsHub
Khandaker, Md Faizul Kabir (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024060320127
https://urn.fi/URN:NBN:fi:amk-2024060320127
Tiivistelmä
Businesses solve various issues and difficulties, and startups can innovate by providing high-quality goods and services. Entrepreneurs in a business face several challenges and uncertainties in optimizing revenues and providing solutions for their target customers. Online shopping and handmade goods, like Bangladesh's jute, cotton, and leather products, are famous worldwide.
CraftsHub will be a prospective business selling clients a diverse range of high-quality handmade products at competitive costs. Items will be sourced from various reputable handicraft producers in Bangladesh. The company also strives to establish itself as an e-commerce platform, allowing clients to make online purchases and quickly save time from any location. Initially, customers could buy a wide range of leather goods, jute products, jewellery, and cotton items online. Both traditional commodities frequently found in Finnish marketplaces and recently launched products not generally available in this market will be available simultaneously.
The primary purpose of the thesis was to develop a comprehensive business plan for a startup that sells Bangladeshi handicrafts in the Finnish market. To meet the primary objectives, the initial objective was to meticulously analyse the handicrafts market in Bangladesh, assess Finland's handicrafts and e-commerce market, and finally, examine the legal and regulatory prerequisites for initiating a business in Finland.
This thesis was implemented as a research-based development work that used a constructive research approach to evaluate the feasibility of introducing traditional handicrafts from Bangladesh to the Finnish market for an online startup project, where primary data collected from expert opinions and three different trainings and secondary data were collected from various sources like statistical insights, webpages, governmental and non-governmental reports.
By applying a constructive research approach, this development work enabled the development of business idea generation to an extensive business plan (confidential) with initial investment analysis and sales forecast for CraftsHub within a stipulated time. The study findings indicated that Finland's e-commerce market has potential for new entrepreneurs, and there is scope to expand the business to other European countries. CraftsHub has already registered for business operations and hired an accounting consultant to provide technical guidelines for upcoming operational issues.
CraftsHub will be a prospective business selling clients a diverse range of high-quality handmade products at competitive costs. Items will be sourced from various reputable handicraft producers in Bangladesh. The company also strives to establish itself as an e-commerce platform, allowing clients to make online purchases and quickly save time from any location. Initially, customers could buy a wide range of leather goods, jute products, jewellery, and cotton items online. Both traditional commodities frequently found in Finnish marketplaces and recently launched products not generally available in this market will be available simultaneously.
The primary purpose of the thesis was to develop a comprehensive business plan for a startup that sells Bangladeshi handicrafts in the Finnish market. To meet the primary objectives, the initial objective was to meticulously analyse the handicrafts market in Bangladesh, assess Finland's handicrafts and e-commerce market, and finally, examine the legal and regulatory prerequisites for initiating a business in Finland.
This thesis was implemented as a research-based development work that used a constructive research approach to evaluate the feasibility of introducing traditional handicrafts from Bangladesh to the Finnish market for an online startup project, where primary data collected from expert opinions and three different trainings and secondary data were collected from various sources like statistical insights, webpages, governmental and non-governmental reports.
By applying a constructive research approach, this development work enabled the development of business idea generation to an extensive business plan (confidential) with initial investment analysis and sales forecast for CraftsHub within a stipulated time. The study findings indicated that Finland's e-commerce market has potential for new entrepreneurs, and there is scope to expand the business to other European countries. CraftsHub has already registered for business operations and hired an accounting consultant to provide technical guidelines for upcoming operational issues.