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Entrepreneurship In The Global Age, Venture Capital Firm (Essay Sample)


My fictitious business is a company called Smith, Inc. and the idea is to sell a semi-customizable smart phone. The idea is to deliver the phone at a fraction of the cost of the major suppliers, Apple and Samsung. Here are the details for the writing assignment.
Consider your chosen entrepreneurial opportunity. Research potential sources of capital that could be accessed in support of the opportunity. For example, JP Morgan Chase is a commercial bank providing small-business loans. Write a paper by responding to the following prompts:
List potential sources of capital, including the pros and cons of each.
Is venture capital a viable source? Why or why not?
How do the philosophy and objectives of a venture capital firm impact the entrepreneur's approach?
What should an entrepreneur know about the venture capital process?
The Encyclopedia of Business ( describes numerous other sources for research.
Your paper should meet the following requirements:
2-3 pages in length
Formatted according to CSU-Global Guide to Writing and APA Requirements
Include at least 2-3 outside sources


Entrepreneurship in the Global Age
Student's Name
Entrepreneurship in the Global Age
One of the major activities for an entrepreneur when seeking to start a business is to secure financing. As Smith Inc. enters the market, it has to find suitable financing source. There are a number of sources that a startup can utilize to finance its operations. They include bootstrapping, friends and family, small business grants, angel investors, venture capital, incubators, and battering. It is important for an entrepreneur to evaluate each of these sources and finds ones that suit the business. With the right source of capital, the business can purchase the resources needed to start it off and take care of unforeseen challenges. Of the seven financing sources, friends and family, venture capital, incubators, and angel investors can help Smith Inc. with the capital it needs to begin operations.
Friends and Family
Friends and family are close to an entrepreneur and they can be willing invest in the new venture. In addition, in the future, if outside investors would like to invest in the business, the fact that one's friends and family trust the person might encourage them to put in more money. Statistics show that the most amount of capital for new ventures are raised from family and friends. According to Fundable (n.d), friends and family invest up to $60 billion annually in new ventures. This is greatly contrasted to angel investors that put in $20 billion and venture capitalists that invest $22 billion in new ventures. The pros of this financing source include easily accessibility and ability to attract more investors in future. However, it can strain relationships if busi

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