PMICAP’s Business

MISSION

PMICAP has been created to empower Praise Ministries International financially, to empower individual’s initiatives and creativities, and to empower community and family needs.

TARGET BENEFICIARIES

PMI Financial Empowerment (PMIFE)

PMICAP is organized exclusively to empower the ministry financially. The program of this financial empowerment is subject to change as available resources with reference to products sales, products developments, and ideology renaissance to innovation become imminent.

Product Sales: PMICAP will replace products on the market for sale when such products become obsolete or they are no longer maximizing profits to bring income to the ministry’s financial needs.

Products Developments: PMICAP will produce or manufacture different products when such products have become disadvantageous to profiteering; the decrease in sale volume due to the lack of demand, or the cost to produce such products is higher than what will be obtained when the products are marketed. PMICAP could replace charcoal with timbers or planks or could plant agricultural products such as cash crops (bitter balls, rice, peppers etc.) and have them marketed for financial gains.

Ideology Renaissance: PMICAP will make changes to products developments or what kind of services to offer to its customers when new idea emerges with reference to innovation, new development, discovery, and invention. For example, presently, PMICAP is embarking on charcoal production as a starting point. As time goes by PMICAP might choose or elect to replace charcoal with solar source such as the grid warehouse solar power source. This grid warehouse is a source for renewable energy that can replace the charcoal. It produces electricity that empowers electric store to do the work of charcoal. It is cheap electricity and convenient than the charcoal when it comes to the use and its production with reference to time, human labors, and financial investment or spending. PMICAP will contact the company that produces this renewable energy and have the products ordered. It will be shipped to Liberia and PMICAP can market the products to its customers. The replacing of charcoal with these products is to avoid deforestation of the Liberia’s vegetations which is dangerous to the environment. If PMICAP continues to cut trees, animal will run away and drought is inevitable because vegetations encourage rainfall and keep animal habitats in place.

Individual’s Initiatives and Creativities (IIC)

PMICAP will empower individual’s initiatives and creativities through mini loan giveaway with zero percent interest and capitals to membership. The members who receive the mini loan with zero percent interest is encouraged to pay tithes faithfully and other donations to Praise Ministries International. PMICAP will empower members financially who want to do business and related projects for self sufficiency and self advancement.

Community and Family Needs (CFN)

PMICAP will invest to community projects or programs and family who are outside of PMI as the need arises based on funds and capitals availability. The community and family needs empowerments are the extensions of evangelism and church planting endeavors.

PMICAP’S BUSINESS PRACTICES

PMICAP must establish and adopt book keeping system with relative to the sales of the products. PMICAP must designate the Production and Sale Agents as to ensure transparency, accountability, and good business practices.

Transparency: The production and sale agents should be open to good business practices or recording the exact products or commodities on the sale log and reporting the exact sale or income to the Treasury department of Praise Ministries International. No sale agent is allowed to keep money home except under condition of sickness or emergency situation that he or she is unable to reach the Treasury department. All sales or incomes should be reported to PMI’s Treasury department at the end of the sale day. The Treasury department should record the sale income on the deposit slip to be deposited the next day to the designated financial institution or the bank.

Accountability: The Production and Sale Agents should account for goods produced and goods sold on the monthly basis. The Production and Sale Agents should work together to give the report on the quantity of products sold and the corresponding figures in dollars amount deposited into the church business account. The opening of the separate business account for PMICAP is highly recommended.

Good Business Practice: Good business practice entails being transparent, responsible, accountable, systematized in keeping financial records, recording products, sales, and following the rule of PMI’s Financial Policy. The Production and Sale Agents and all those who are on the PMICAP department are highly esteemed to the standard of good business practices.

Production Depots/Market Sites

PMICAP will own vehicles for the transportation of commodities or products to the market. The PMICAP’s team is advised to study the market before taking the products to the market for sale. The department should study and determine what types (retail or wholesales) of sales should be conducted or carried out to a particular market site. If the products are not in demand based on the timing or the season, the products should not be taken to the market; instead, it should be stored or kept in the warehouse until the season or the timing is ready for the sale.

Production Log

PMICAP will maintain the production log. The log is a sheet or document that carries the quantity of commodities or products produced and total quantity in categories and indicates the aggregate. The log should be filed by the Production Agent, dated, and signed before giving to the Sale Agent when goods have been parked and are ready for sale to the market.

Production Log Sample

NO Items Quantity Total Quantity
1 Charcoal 400 bags 400
2 Timbers/Planks 300 Pieces 300
3      
4      
5      
6      
7      
8      
  Subtotal   700

Agent’s Printed Name:________________________________________

Agent’s Signature:__________________________________________

Date:______________________________________

Sale Log

This log is a sheet or document showing the quantity of products sold, unit price, and the corresponding subtotal in category and indicates the aggregate in products and dollars amount. This document should be filed, signed, dated, and turned in by the Sale Agent along with the corresponding sale income to PMI’s Treasury department to be deposited into the PMICAP’s business account. The copy of the production and sale logs should be maintained by the Production and Sale department for seven years before being discarded.

Sale Log sample

NO Items Quantity Unit Price (U.S) Total Price
1 charcoal 400 bags $3.00 $1,200.00
2        
3        
4        
5        
6        
7        
8        
  Subtotal     $1,200.00

Agent’s Printed Name:________________________________________

Agent’s Signature:__________________________________________

Date:______________________________________

Production Log Sample

NO Items Quantity Total Quantity
1      
2      
3      
4      
5      
6      
7      
8      
  Subtotal    

Agent’s Printed Name:________________________________________

Agent’s Signature:__________________________________________

Date:______________________________________

Sale Log sample

NO Items Quantity Unit Price (U.S) Total Price
1        
2        
3        
4        
5        
6        
7        
8        
         

Agent’s Printed Name:________________________________________

Agent’s Signature:__________________________________________

Date:______________________________________

PMICAP’s Artifacts