The Financial Portion of Sinclair Business Incubation Program (Essay Sample)
For this assignment, you will now turn your attention to financial portion of your business plan. Think carefully about how much money you will need to get your business started, what your specific expenses will be, and the best sources of financing for your business. Review the background materials on financing options and business plans, and then write a three page paper covering the following issues:
- How much will it cost you to get your business started? Include a breakdown of the different expenses that you will face in the first year that your business is operating.
- What source of financing will be the best choice for your new business? Explain your reasoning, and make sure to cite Feldman (2013), Seifert, et al. (2008), or other references from the background materials to justify your choice.
SLP Assignment Expectations
- Answer the assignment questions directly.
- Stay focused on the precise assignment questions; don’t go off on tangents or devote a lot of space to summarizing general background materials.
- List supporting references and cite sources in proper format.
- Use appropriate writing style in essay form (organization, grammar, and spelling).
- Review our “Writing Style Guide” for more detail on referencing and writing expectations. This guide is found under “My Resources” in the TLC Portal.
The Business will be wrote on a kindergarten and daycare center. Please be creative
The Financial portion of Sinclair Business Incubation program
The Sinclair Student Business Incubation Program will require heavy start-up capital investment. This is because the course is curriculum based based therefore; research will be required before the course lineup is launched. In addition, the infrastructure and equipment needed to ensure success in the program would require a lump sum of money. In this regard, the financial portion of the business plan is important because it will enable the coordinators to allocate the funds for every event carried out in the course of the program.
The financial portion of every business plan is essential because it helps the entrepreneur to make day-to-day decisions about the running of their venture. A project without a source of funds may flounder because of the weight of debt. A forward looking business owner knows that funding is an important propellant for their undertaking. There are diverse avenues from which a business can obtain financial assistance and coordinators may desire to use more than one alternative. The option that the entrepreneurs choose often depends on the company's desire to be in arrears and the amount of money needed to launch the business. In addition, the degree of solvency of the capitalists at the start of their business and the maintenance cost of the variety of events that follow thereafter (Singer, 2012). The business owners realize that different funding avenues work differently for companies depending on the size of the venture and anticipated growth rate (Feldman, 2013).
Today's upcoming businesses that exist in the recent economic landscape are forced to be creative and think out of the box when it comes to the different financing options (Strauss & World Entrepreurship Forum, 2014). The different needs such as equipment, website development, hiring, business cards and supplies all cost money that has to come from somewhere. The business owner may obtain seed money from a small loan, an investor or their own savings, although the amount may not be enough to get started and to ensure sustainability.
The Sinclair Business Incubation program will need 1550$ as start up capital and thereafter 2000$ to run the business during the first year. The 1550$ will be used for hiring the trainers, for research in curriculum development, furniture, website dev...
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