Assignment 3: Final Project
Funding the Business
Once you have finalized your team, the next concern for you is to determine how to fund your business. Funding is one of the fundamental problems with starting a new business. Where to find funding, how to access funding, and what will funding cost are some of the important issues that you should consider prior to spending a single cent on your project.
In case your bank account balance is pretty shallow, you need to look for outside funding. One of the easier possibilities is approaching family and friends. However, in most cases, they want to be repaid at some point, irrespective of the running status (profit or loss) of your business. This situation often leads to bad feelings and loss of friends. Other less-intrusive methods are:
This week, you will identify all the funding options available to you. Answer the following questions in a 3- to 4-page Microsoft Word document:
Based on your answers, analyze the funding options and identify the option you will prefer utilizing. Provide a rationale for your choice.
|Assignment 3 Grading Criteria||
|Identified all the funding options available to you.||
Analyzed all the available funding options based on the following questions:
|Analyzed and justified the funding option you prefer to use for the funding of your business.||
|Presented a structured document free of spelling and grammatical errors.||
|Properly cited sources using the APA format.||
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