Kismat FM - Ofcom Licensing

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Section 105(A): Ability To Maintain Proposed Service Kismat Radio 2. (c) FINANCIAL PROJECTIONS The purpose of this section is to allow the applicant to demonstrate its understanding of the market. Its forecasts should be based on reasonable assumptions, that they are logically applied and justifiable. The applicant should provide financial projections on an annual basis for the licence. The projections must include: (i) Profit and loss accounts (ii) Balance sheets (iii) Cash-flow forecasts The period covered is at the discretion of the applicant, but should be justified. The forecasts should be supplied on an excel spreadsheet or similar, with any accompanying guidance notes. They may be submitted in confidence. Full financial projections, including Profit & Loss Accounts, Balance Sheets and Cash-flow projections are provided in confidence with this Application, from which the following brief summary is taken: The Manchester Area Manchester is a thriving commercial centre that continues to grow and develop. It’s population is drawn from a wide variety of backgrounds and all contribute to making Manchester what it is today - the economic heart of the Northwest. Once the engine room of the Empire, manufacturing continues to account for around 17% of the employment base but has been overtaken by office, administrative and managerial employment (30%) and the public sector (25%). The City now boasts a retail sector that rivals any in the UK: Manchester was recently voted third best place to shop in England and its success continues to grow. The Greater Metropolitan County of Manchester, as it was designated in 1974, comprises the City of Manchester and 10 surrounding towns (in fact 9 towns and 1 city) that previously straddled parts of Lancashire and Cheshire: Bolton, Bury, Manchester, Oldham, Rochdale, Salford (city), Stockport, Tameside, Trafford and Wigan. Whilst all gravitate around the City of Manchester, each has its own history and traditions that are today reflected in the patterns of industrial activity and immigrant populations. One in eight of all Pakistanis and one in twelve of all Bangladeshis in Britain reside in Greater Manchester. This cultural diversity is expected to increase over time, given existing trends. Business Plan KISMAT MANCHESTER – BUSINESS PLAN SUMMARY Pre-Op Year 1 Year 2 Year 3 REVENUES - 574 376 725 737 906 195 GROSS MARGIN (13 750) 513 062 662 674 841 034 COSTS 156 796 580 204 615 224 638 824 PRE-TAX PROFIT (LOSS) (170 546) (67 141) 47 450 202 211 RETAINED PROFIT (LOSS) C/F (169 299) (230 558) (180 600) 33 744 Kismat Radio Manchester Section 105 (A): Page 11
Section 105(A): Ability To Maintain Proposed Service Kismat Radio Asians in Manchester The Asian connection with the Manchester area is interwoven with the history of the northern mill towns since the beginning of the industrial revolution. Early industrial success was based on cotton spinning, a technology borrowed from India that became central to the emergence of northern England as the 'factory of the world'. Cotton grown in the plantations of the Caribbean, the US deep South, or the fields of Bengal was brought to Lancashire and Yorkshire to be spun into cloth and sold back at profit to the Empire. This was a global trade before globalisation. By the 1960s, the mills were investing in new technologies, which were operated twenty-four hours a day to maximise profit. The night shifts, which were unpopular with the existing workforce, soon became the domain of the Pakistani and Bangladeshi workers who settled in the mill towns. The Asian population of Greater Manchester remains concentrated in the mill towns of Bolton, Oldham and Rochdale as well as central Manchester. The Asian workers who came were mainly young men from farming families from the North of the sub-continent (initially from the Mirpur region of Pakistan). Some came from the area where 250 villages had been flooded to make way for the Mangla Dam. Others had relatives who were in the British army during the War or in the merchant navy as cooks. Subsequently, workers came from Pakistan as well as the Indian Gujarat and also from Punjab and Bangladesh. A few Gujarati Asians came later as refugees from ex-British colonies in East Africa (mainly to Bolton). They had British passports and came as whole families. Many of them had an advantage in the job market as they had an urban background and some English schooling from East Africa. Until the collapse of manufacturing in the late 1970s nearly all Asians were employed. They had come to work and save so they did long hours of over-time and night shifts and lived simply. At first they spent very little on themselves, sending most of their earnings home. The men were often related or came from nearby villages. Relatives pooled finances to send someone to Britain for a year or two until he had earned a nest egg sufficient to invest in farm improvements. After a few years he would return home to be replaced by another brother. This circulation stopped when immigration controls were gradually tightened. The closing of the door meant that Asian workers did not like to take the risk of going home and gradually began to send for their wives and children. However, as the machinery developed, the need for labour diminished and could be got for less elsewhere. The work once done cheaply by Bangladeshi workers in the north of England could now be done even more cheaply by Bangladeshi workers in Bangladesh. It is only relatively recently that communities have stabilised and it is possible to identify an emerging ‘Asian’ economy in the area. Asian communities have turned to the local service economy, pooling savings and setting up shops, restaurants, take-away’s and joining the transportation as well as the public sector. Another area well represented by Asians (though few in overall number) is the medical profession, particularly doctors, as well as other professional groups. Pakistanis and Bangladeshi’s predominate in the catering and transportation businesses whilst Indians do so in fashion and general retailing. A thriving Asian retail success story can be seen for instance in Rusholme with its myriad jewellery, fashion and food outlets (not to forget Meena and Kirit Pathak, of Heaton, who run Patak's (they dropped the 'h' to make it less 'ard to pronounce) supplying authentic Asian food to 90 per cent of the country's Indian restaurants and big chain stores like Tesco. Manchester and the surrounding area is third after only London and Middlesex as home to Asian millionaires! Business Plan Section 105 (A): Page 12
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Kismat FM - Ofcom Licensing

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