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Essay / Research Paper Abstract
This 4-page paper discusses several issues pertaining to the start-up of a small business including the purpose of a business plan, types of financing available and challenges facing married couples in business. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTbuspla.rtf
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Unformatted sample text from the term paper:
answer some basic questions about start-ups (such as business plans and financing), then determine some issues that married couples might face when it comes to starting up and operating a
family owned business. Why is a business plan an essential first step for a start-up firm? Very simply, a business plan
helps you define your business, identify the goals of the business, and describes what a business does - or rather, why the business is in business (Small Business Administration, 2003).
More specifically, the business plan is a roadmap for the company, to tell the company manager/managers the direction in which the business
should be moving. Business plans also need to be updated on a regular basis. Business plans are also important for obtaining financing
(such as a loan or credit line from a bank or other financial institution). Before lending money (especially to start-ups), loan officers and financial advisors need assurances that the business
will make money - and what steps the business owners will take to make that money. A business plan describes all of this.
Before writing the business plan, four questions need to be considered (Small Business Administration, 2003). First, what service/product the business provides and the need it fills; second, potential customers
interested in the product or service; third, how business owners plan to reach those customers and fourth, where the owners will obtain financial resources to start their business (Small Business
Administration, 2003). What are some of the sources recommended by Web sites for financing? When it comes to financing for start-ups,
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