Report on Entrepreneurship Development of Pearl world

Report on Entrepreneurship Development of Pearl world

Executive summary : A pearl is a hard, roundish object produced within the soft tissue (specifically the mantle) of a living shelled mollusk. Just like the shell of mollusks, a pearl is made up of calcium carbonate in minute crystalline form, which has been deposited in concentric layers. The ideal pearl is perfectly round and smooth, but many other shapes of pearls (baroque pearls) occur. The finest quality natural pearls have been highly valued as gemstones and objects of beauty for many centuries, and because of this, the word pearl became a metaphor for something very rare, very fine, very admirable and very valuable.

Valuable pearls occur in the wild, but they are very rare. Cultured or farmed pearls make up the majority of those that are currently sold. Pearls from the sea are valued more highly than freshwater pearls


1.1 General Description of the Venture So

 The Pearl World is a type of business involves in manufacturing, cultivation and exporting pearls as business. Our only product is cultured freshwater pearl and we are launching our business for the first time in this country in a way of commercialization. As we are first time, so our area of business is limited but we are in a way to make it large and wide.

Our business plan is to collect, produce, cultivate, design, culture, distribute and promote pearls locally and internationally. Our target markets will be Asian countries along with the subcontinent because the USA and Japan has already covered the later market and our target is to cover the rest of the world. We will develop a zero level marketing so that we can be able to create a good relationship with the customers and able to connect them directly to promote our business throughout the world. We believe in quality product and we are liable to create and maintain quality product and provide them to the customer.

We have the plan to create 30% coverage of the total market for the initial time of our business by creating direct communication and information system. Our company is very committed in establishing and maintaining rules and regulations for creating and maintaining smooth and better delivery process without creating any obstacles in it.

We are very concern in maintaining our responsibilities properly for the betterment of our business and achieving customers’ belief and trust on us.

1.2 Founders introduced



Arafatur Rahaman, age23, an BBA (Finance) is the prime partner of Pearl World. She is the Chief Executive Officer and Managing Director of the firm. She has long experience in Agriculture and its sub-sector in the country area. She is very young energetic and dynamic person. She was an active partner of all the small units of the family business for the last 3 years.
Tanjir Hayet Khan, age 24, BBA (Finance) and ACCA, is also an active partner of the Pearl World. She is the Accounts and finance Director of the firm. However, she does not have much experience in this sector but her academic qualification relating to accounting knowledge will help the firm to achieve the efficiency and effectiveness in the operation. She will look after the day-to-day accounting operation of firm.
Abdulla-Al Masud, age 23, BBA (Marketing) is also an active partner of Pearl World. She is the Marketing Director of the firm. She got the experience to do market of agricultural & fisheries goods in local market and as well as foreign market. Last 3 years he was involves with a fisheries farm.
Fariha Mahmud, age 25, M. Sc (Biology) is one of the most active partners of Pearl World. She is the operation director of the firm. He has technical expertise and related experience to run the pearl culture project.
Nahida Akter, age 23, BBA (Marketing) is a partner of Pearl World. She is also the sales director of the firm. He has more experience in fisheries projects. He is very much able to run any types of related project and efficient to make effective decision.
S.M. Maruf Hasan, age 24, BBA (Human Resource Management) is a partner of Pearl World. He is the Human resource and Administrative Director of the firm. He has experience as Human resource manager of fisheries for the last 2 years.


1.3 Organizational Structure


Pearl World has got a very sound list of qualified and skilled workforce having wide range of experience in the related position. Under the head of organization structure firm’s organ gram is demonstrate and brief explanation is also given for better understanding of the authority and responsibility.

pearl hirarchy

Financial structure of founder

gnat on

Pearl World is a 100% cultivating firm. It was a dream of the promoters to open a firm like this. They decided to share the capital among them. They contributed capital of the firm. The promoters also decided to take loan from bank. So the current capital structure of the firm consists of debt and equity capital. The debt capital covers 40% of the total capital and equity capital covers 60% of the total capital of the firm.

For the production of the firm’s product, the promoter required 3 acres of lands. They purchased the land in Mymensingh. The cost of the land is 5 million. The share of the company will not be distributed to outsider according to the deal among the promoters.

The promoters divided the share of the farm equally to themselves. So the share belongs to every owner are as follows:



Percentage of share

Contributed Capital (Taka)


Arafatur Rahaman



Tanjir Hayet Hayet



Abdulla-Al Masud



Nahida Akter



Fariha Mahmud



S.M. Maruf Hasan







2.Business concept

2.1 Company purposecompanys history

2.2 Uniqueness of the product or service



Our Products

perl world

We are going to establish a first commercialized pearl business in the country by doing pearl culture to export of it without keeping any intermediaries or zero level of marketing to compete with world business. We will provide pearls in 2 ways- as a raw pearl or designed jewelry and for manufacturing to exporting of pearls; we will obviously honor and consider the customer demand and choice in a highest manner.

 Goal or Potential of the Venture and Milestone

goal or  pppotential

2.2 Uniqueness of the product or service

We are going to establish a first commercialized pearl business in the country by doing pearl culture to export of it without keeping any intermediaries or zero level of marketing to compete with world business. We will provide pearls in 2 ways- as a raw pearl or designed jewelry and for manufacturing to exporting of pearls; we will obviously honor and consider the customer demand and choice in a highest manner. uniqueness of our products

Concerns of the Article:

Name:Pearl World
Address:51/3, bhaluka, Mymensingh, Bangladesh.
Type of business:The firm is involved with production, and marketing of loose pearls and pearl jewellary.
Area of operation:The firm will operate its activities within the boundary of Bangladesh. It can establish its branch office anywhere in the country.
Capital:At the starting point the firm will have a capital of Tk. 40 million. In case of necessity additional capital can be collected from the partners.
Drawing:Every partner can draw maximum Tk 30000 from the business every month and subsequent interest he has to pay the rate for which is 20%.
Distribution of Profit:According to the ratio of capital the profit will be distributed or loss will be covered equally among all partners.
Preparation of

Financial Statement:             That proper Books of Accounts of the business shall be                   maintained and kept at the office and the partners shall have free access to the Books of Accounts. That an Annual balance sheet for profit and loss shall be prepared which shall be shared by the parties proportionately.Accounting Period:            The firm will maintain its accounts in a fiscal year consisting of January 1st to December 31st.Banks:                                    Account of the firm shall be opened in the name of the firm with any schedule bank or banks of Bangladesh. Which shall be operated under the joint signature of any two partners of the firm respectively? In banking transaction the signature of managing partner is mandatory.Admission of  Partnership:For the overall welfare of the firm new partners can be admitted in the firm but no new partners can be added without the full written consent of the partners.Retirement &

Death of Partners:Any partner can take retirement from the firm by providing a three months prior notice. In case of death of any partner his nominee or successor can become a partner on the consent of other partners.Repayment Of capital:In the event of the death or retirement of a partner, the remaining partner will pay the state or retiring partner the full amount of the original investment. The payment will be made within 1year of the death or retirement of the partner.Grievance Procedure:If grievances between partners cannot be resolved, an arbitrator will be hired that is acceptable to all partners. The decision reached after arbitration is binding.Termination:In case of necessity or according to the occurring situation if the termination of the firm has to done, the termination procedure will be followed by the Partnership Act 1932 prevailing in Bangladesh.

Change of  Condition:With the consent of all parties, rules & terms of the article can be amended.

Pearl characteristics

Physical characteristic of pearl

Color: Pearl come in a large range of colors varying from silver and white to gold, pink etc, Purple gold and black pearl fetch the highest prices in the market.

Luster: The appearance of a pearl’s surface judged by its brilliance.

Shape: Pearl may be sphere, half sphere, oval, pear-like, spindle-like, and irregular shape.

Gravity: The gravity of pearl is about 2.73.

Rigidity: Pearl have very heard material, rigidity varies from 3.5 to 4.5, similar with iron.

Components of pearl

The components of pearl are calcium (91.59%), water (3.97%), organic matter-conchiolin which consist of a number of amino acid (3.835), and other elements (.61%).

Assessment of pearl quality

The criteria of identifying the pearl quality are size, surface, shape and luster.

Size: Size of pearl usually measured by weight or by diameter (mm). Other things are being equal, the large the pearl size, the greater the value.

Surface:  Surface of pearl quality refers to the number of imperfections percent such as pits. There are common, the smooth surface is better, and perfect flawless pearls are rear and highly priced.

Shape: For marketing, the round shape pearl is better.

Luster: The more brilliant is better as the luster of pearl.

Commercial value of freshwater of freshwater pearl culture:

Freshwater pearl is produced by the freshwater mussel, which has the high commercial value. Mussel flesh and shell also have some commercial value.

Mussels are important to both man and the environment. In one hand, they are filter feeders and act as natural water cleaner and indicators of water quality conditions. On the other hand, they are edible food to both human and animals.

Shell is the primary raw material for the button industries. It can be used as nuclei for pearl culture, jewelry, and crafts and animal food additive.

Pearl is the precious gem, which is one of the most attractive objects of adoration. Pearl powder contains 17 amino acids and many mineral elements, it can be used as nutrient and medicine, which is useful in treating various viz. heart disease, sore throat, heart burn, eye disease etc. pearl powder can also be used as a vital content of skin protection cream.

2.3 Supplies and Sources of Raw Materials

Oyster collection:

Pearl Oysters are collected from a species of freshwater mussels which are found in abundance in inland bodies of water such as lakes, rivers, ponds and dams in Bangladesh. The river gypsies, people who live in houseboats, collect them. We collected pearl oyster from those peoples.

Young fish collection:

We collected young fishes from different fisheries in Bangladesh.

2.4 Product and Service

The products provided by us:

      Different raw pearls.

      Pearl jewelries.


      Shell flesh using as food for fisheries and poultry.


      Fruit and Vegetable.

3.1 Layouts


Figure: Land area Layout

Total area of land is 3 acres. Office building and workers accommodation covers about 10% of the total land. Ponds and roads cover 2 acres around 80% and rest 10% is for open space and for the gate.

3.2 Process Flow Chart

For fish:


For Oyster:preparation

3.3 Production Process


Gathering is not difficult as the mussels are found in shallow areas (usually knee-deep) of ponds, rivers, lakes, irrigation canals and dams. When a gatherer steps on the mussels while wading, their presence can easily be felt, as they are only partly embedded in the sand or mud bottom, and they can be collected. Gathered mussels are then transferred to the culture site.gathering of mussels


A place should be prepared for conducting the operations. It can be inside the house or outside in the open. It should be as close as possible to the culture site to simplify work activities. A table and a chair are needed to assure the comfort of the pearl technician while operating on the mussels. Trays, pans and buckets are also needed and a container of mussels and the necessary instruments should be ready.

Mussels are brought up from the pond and placed in trays on top of the table. They should be arranged with the ventral side facing up so that when they gape, the opener can be inserted into the mussel to open it prior to the operation.mussels


There are two methods of operating on mussels described in this manual which are applicable to the local freshwater mussels. They are the operations using the gonad for round pearls and the use of the mantle for seed pearls.

Preparation of Graft Tissues

The mussel to be used as graft should be properly selected; it should be young and healthy. The two mantles of one mussel will be sufficient for use in operating on 10 to 15 mussels.

To prepare the graft tissues, one mussel will be opened to remove its mantles. This can be done by slipping the pointed, narrower end of the graft knife between the shells to cut the adductor muscles (anterior and posterior). With the shells widely opened, the two mantles can then be cut and separated from the body of the mussel and placed on a wooden board. The slimy fluid on the mantle should be wiped off with a wet synthetic sponge. They should be divided into long strips by cutting or eliminating the outer margin of the mantles which produce the prismatic layer of the shells. They are then cut into 2 to 4 mm squares and are ready for use as graft tissuesjinok

Culture of Pearl on the Mantle

Pearls can be grown on the mantle of the mussels. This method has been practised in China and Japan using their freshwater mussels (Anodonta sp. Cristaria plicata). Only pieces of graft tissues were inserted between the layers of the mantle, without any nucleus or irritant. The graft tissue will easily become attached to the mantle, while a nucleus if inserted will be expelled.

The following is the procedure for operating on the mantle of mussels for seed pearls:

First, the graft tissues should be prepared (the same way as when used in the operation of the gonad). Insert the end of the shell opener into the gaping mussel to make a 7 mm opening. Insert a wooden peg between the shells to prevent them from closing and remove the shell opener. Place the mussel in a holder. With the use of a spatula, push the gills upward for a clear view of the lower mantle lobe. Then, with the use of the incision knife, make slits on the mantle, taking extra care not to cut through the other side. The mantles are usually bulging due to the presence of a watery fluid, so when slit, fluid will ooze out. Two to three slits can be made on the mantle. Using the graft carrier, insert one mantle tissue in each of the slits. Turn the mussel in the holder upsidedown so that the other mantle can be operated on. Repeat the procedure for this mantle.

For operating on two mantle lobes, four to six graft tissues may be inserted in one mussel. In some mussels, especially if the size is large, it may be possible to insert up to ten graft tissues in one mussel. The use of larger sized graft tissues is preferable as pearls will develop faster and the culture period will be shorter. It will be difficult, however, to insert these larger-sized graft tissues and the expulsion or rejection rate of the tissues will be higher.

The graft tissue will join with the inner epithelial cells or with the connective tissue between the external and the internal epithelial cells of the mantle. This will have the same function as when it is part of the mantle, and will therefore secrete the shell substance or calcium carbonate and eventually result in seed pearls. In China and Japan, the seed pearls grown on the mantle are commonly called rice pearls due to their rice-like shape.

Steps 1 – Make slits on the mantle

Steps 2 – Insert graft tissues inside the mantle

3.4 Production Technology

In order to undertake the culture of pearls, there are four necessary requirements: a culture area, mussels, instruments and irritants or nuclei.


The site where the mussels will be cultured in a pond. In Bangladesh most facilities own ponds near their dwellings and these ponds are good sites for culturing pearls.

Culture Site


There are two genera of pearl mussels in Bangladesh: Lamellidens and Perreysia. The mussels are commonly called “Jhinuk” a term applying to various shell types. The one used for pearl culture should be Lamellidens marginalis, for two reasons. First, due to its size (the mature ones range from 7 to 10 cm, measured from anterior to posterior end), it is suitable to operate on. Perreysia are smaller so they would be difficult to operate on. Second, they are common in most inland bodies of water.

 Freshwater Mussel – Lamellidens marginalis


To operate on the mussels for culturing pearls, the following special instruments are needed:

  1. Shell Opener
  2. Graft Cutter/Knife
  3. Incision Knife
  4. Nucleus Carrier/Lifter
  5. Graft Carrier/Lifter
  6. Spatula with a hook
  7. Mussel Holder Pinchers
  8. Graft Cutting Board
  9. Wooden Peg
  10. Miscellaneous Equipment


With the use of nuclei or irritants, the pearls can be produced in a shorter culture period as they start from larger material than is naturally found. The best material for nuclei would be made of shell as it has the same composition as that of pearls. For the culture of pearls, substitute material can be used. Round beads made of ceramic are available at factories in Dhaka. The size should range from 2 to 4 mm for the average local mussel and not any larger. Ceramic is a good substitute nuclei as it has almost the same weight as that of a pearl.

Other materials, such as sand can also be used. The smooth type of sand should be selected. Round objects for nuclei can also be formed out of either ordinary or white cement. When using these they should first be thoroughly dried for several days.

4. Human Resource Management

 Staffing Need:

For establishing this project in full capacity we need total 17 employees with Outstanding organizational, interpersonal and communication skills, hard working, independent self-starter, good at problem solving, and love the challenge of achieving ambitious goals.

Staffing Budget:

This is the staffing monthly budget of Pearl World:


No. of Staff

Monthly Salary














Security Guards




Total =


 Staffing Planning:

Staffs that are works in the production process unit, they need training for the pearl cultivation and the Mussels operation. They can get training from the Freshwater Aquaculture Research Station (FARS), Mymensingh.

5.Entrepreneurial Team

5.1 Summary of Qualification








Arafatur Rahaman


BBA (Finance)

3 years






Tanjir Hayet Khan


BBA (Finance)



2 years



Accounts and finance Director

Abdulla-Al Masud


BBA (Marketing)

2 years



Marketing Director

Fariha Mahmud


M. Sc (Biology)

3 years



Operation Director

Nahida Akter


BBA (Marketing)

2 years



Sales Director

S.M. Maruf Hasan


BBA (Human Resource Management)

4 years



Human Resource & Administrative



6.1 Research and Development Plan

Still there is no R&D department to measure on recherché on Pearl culture. It may because of government lack of approach or the lack of knowledge of the importance. But before we study on it there was lot of foreigner came in Bangladesh to do recherché on Pearl culture. It true that the research is in process, but Pearl world has a plan to establish a R&D centre for saline water Pearl Culture.

6.2 Situation Analysis

6.2.1Market summary:

This section presents relevant background data on sales, costs profits, the market, competitors, distribution, and the macro environment.

Pearl oyster farming is peaking up worldwide. It is an important foreign exchange earner for developing countries, with promising market in Europe and North America, where there is a great demand for cultured pearl which are cheaper than the wild peals. In 1990’s over US $900 million worth of peals were produced in the world. French Polynesia and Japan deserves special mention as it is considered to be among the world leaders in the cultured pearl production.

Bangladesh is traditionally a land of rivers, canals, lakes, coastal and marine saline water. It is gifted with resources of pearl cultivation which is unknown to many of our own countryman. The climate, chemical composition of soil, physical features of water and temperature are favorable to the growth of pearl producing mussels as well as pearl production. Bangladesh can earn tk. 1500 crores annually by exporting pearls as well as possibilities of 20-30 lakhs employment generation in the country.

 Competitive situation:

There are is no such firm who produces freshwater cultured pearl in Bangladesh. The major competitors of Pearl World Ltd. are the people  who live in houseboats, collect them for the shells which are converted into lime (lime is an ingredient in chewing beetle nuts, which is very popular in Bangladesh). Occasionally, natural pearls are collected and are sold in jewelry and novelty shops in Dhaka and other large towns throughout the country. These pearls are beautiful, with a deep lustre and are expensive. They are commonly termed as pink pearls, although the actual colour is golden.

To capture the foreign market such as Europe and North America, our main competitors are Australia, Japan, China, United States, Indonesia, Malaysia, etc.

 Distribution situation:

This section represents data on the size and importance of each of the distribution channel.

We will collect mussel from inland bodies of water such as lakes, rivers, ponds and dams through the help of river gypsies. Then we collect, gather, operate and cultivate the mussel for culturing pearls in our farm. After culturing pearls, we collect those from the mussels and gather them for packaging in different grades. After packaging, we take all those packed pearls in our operation unit, and then we carry all those packed pearls in different jewelry shops for local distribution and to airport for foreign export. The producers and the final customers are part of every channel and the number of intermediary designate to the length of a channel. We use Zero – Level marketing channel that means we directly send products to the customers without the help of any intermediaries. We are totally liable to the quality and accurate quantity of product. So our marketing distribution channel is likely the forward-flow channel.

Macro environment situation:

Pearl World Ltd’s operations and policies affects tremendously in demographic, economic and socio-cultural sectors of macro environment. We assume that about 90 percent of our foreign buyer contact with us and place order through online and over telephone. Because they have not enough time or possibilities to verify the quality of pearls of Bangladesh. One thing is very important for them and that is maintaining the delivery of product in time. So Pearl World will be very much concern to maintain this rules of time and ensure the high quality with cheaper price without any compromise.

8.1 Risk analysis

In our project there are some basic risks involve. Such as –

      As pearl comes from the oyster so the mortality rate might cause risk.

      As oysters are catching from natural sources, it involves the risk of unavailability of oyster.

      Oyster food also depends on the natural sources and has the risk of unavailability.

      It has also the risk of unknown disease of oyster; it may be hampered the process.

       It has the risk of timing of catching.

      Potential competitors might cause risk in sales.

8.2 Contribution towards the Economy

Pearl oyster farming is picking up worldwide. It is an important foreign exchange earner for developing countries, with promising markets in Europe and North America, where there is a great demand for cultured pearls which are cheaper than the wild pearls.

Bangladesh is traditionally a land of rivers, canals, lakes, coastal and marine saline water. It is grafted with resources of pearl production which is unknown to many of our own countryman. The climate, chemical composition of soil, physical features of water and temperature are favorable to the growth of pearl producing mussels as well as pearl production.

Cultured pearl industry can contribute towards the economy through-

      Bangladesh can earn tk.1500 crores annually by exporting pearls as well as possibilities of 20-30 lakhs employment generation in the country.

      Create foreign investment opportunities in this sector.

      Increase the GDP.

      Increase the standard of living.

      Urbanization in rural area.

9. Conclusion:

The first requisite for the all-round development of oyster pearl industry and mussel culture especially for export purpose is to educate and training of those who are and may be willing to enter into the business.

Specially most of the shell collector are illiterate and live from hand to mouth, although they are the first finder to let these gems see the light of the world. If the awareness training of the scientific method of cultivation and conservation of Pearl bearing oyster and mussel is made known to them, then the conservation of muscle oyster beds will not disturb. They will stop indiscriminate picking of mussels. In natural condition out of 500 mussels they got only single tiny pearl. So we can imagine what a huge amount of pearl oyster destroy everyday by indiscriminate picking of mussel.

Artificial cultivation of pearl in scientific method should be given attention.