[eekosmembers] Re: Money for starting eekos Gambia and eekos UK
- From: "Don" <dyates@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>
- To: <eekosmembers@xxxxxxxxxxxxx>
- Date: Wed, 28 Feb 2007 06:27:04 -0800
See my comments to other message. Would please start quoting amounts in
dollars and Euros as well as pounds and d. Many of the opportunities for
money will be from people using those funds, and it is a pain to try to
translate into them. It also shows that you are thinking globally rather
than just one or two countries.
_____
From: eekosmembers-bounce@xxxxxxxxxxxxx
[mailto:eekosmembers-bounce@xxxxxxxxxxxxx] On Behalf Of Kevin Ison
Sent: Monday, February 26, 2007 4:06 AM
To: Members email list
Subject: [eekosmembers] Money for starting eekos Gambia and eekos UK
(Ousman, could you print this and the attached budget and pass around the
members there thanks)
MONEY FOR STARTING EEKOS
Well, I have messed up with the wages for Gambia this month and left the
guys without any money. Again my apologies to the Gambian guys for leaving
them short.
Jamie has made a transfer for them, but we still need to ensure that they
have the money to operate to get them started.
This is a lesson for any future agencies.
I have done budgets to the best of my ability for the next 6 months and have
passed them on for comment and while the overall prospects look good if we
get the sales we expect, for the next two months, help is needed.
In UK, I should be OK to get the business started here without need for any
money. Most customers will be paying for materials and I will be charging an
extra £3 per hour above paid wages to cover wages costs and then adding 20%
to wages bill to cover our profit.
This means we should not need any loans until perhaps we need to purchase or
lease a vehicle or larger tools.
I can use existing tools for building works and can hire any access
equipment I need to install solar panels.
There is the possibility of doing some courses, but I would fund that
privately and pay back through eekos via future income.
Gambia is different as you guys have not money to start with.
You have orders for 2 bores and potential for many more as well as housing
work, particularly when set up as a business over there.
We need to ensure you have the funds to pay for business set up, money for
bore drilling and building equipment and wages for 3 months. eekos members
here in the UK have faith in you and your ability to do bores and we think
that in 3 months you should be able to drill and complete at least one bore
and perhaps 2.
With this in mind, I have done an updated budget for Gambia that I think is
realistic.
The budget is attached and the changes are;
Jamie will pay wages today for January (paid late) at about d1000 (£20)
each.
February wages paid at the end of this month of d1500 (£30) each.
March wages of d2000 (£40) at end of March.
April wages of d2000 (£40) at end of April.
After this the business should be healthy and wages set by members.
Solicitors and start up fees of d50,000 (£1000) allowed for.
Bore drilling equipment d30,000 (£600) allowed for.
Bore drilling materials added of
College fees for Lamboy for IT course of 4,555 (£254) allowed for.
Monthly overhead (office) costs of the following. I have reduced a few as
they will be less costs for this to start with.
February - d5250 (£105)
March - d6250 (£125)
April - d8250 (£165)
May - d9250 (£185)
I have also added the cost of an accountant for May and June of d5000 (£100)
to ensure books are all up to date as by then the business should be up and
running very well.
The loans from Kevin and Jamie so far are to be paid to eekos Limited and
then payment made back to Kevin and Jamie from eekos limited. This keeps the
financial records correct.
Current debts are:
Jamie - around £320 including this latest wages payment (exact amount
unknown at this stage)
Kevin - Around £345 - I am just tracking down the exact amount.
Repayments are done as early. This will be needed to keep UK members full of
trust and also to reduce any interest we have to pay on the loan.
It looks like we will need £1500 (d 75 000) to cover all costs and make sure
that they guys in Gambia make it through the first few months.
So how do we get the money to start? I have posted another email with the
options to consider.
cheers,
Kevin Ison
<http://www.eekos.com/email_logo.gif>
Kevin Ison
eekos Limited
The Old Hackfall
Grewelthorpe
HG4 3BW
Company Number - 5504935
www.eekos.com
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