Week_6_FIN_571.docx Apply: Signature Assignment: Financial Plan University of Phoenix/

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Week_6_FIN_571.docx Apply: Signature Assignment: Financial Plan University of Phoenix/ FIN 571 Apply: Signature Assignment: Financial Plan Determine why funding is needed for the company A fina... ncial plan is a document containing a person's current money situation and long-term monetary goals, as well as strategies to achieve those goals. With any successful business you must include a financial plan. Funding is needed to get the business off the ground. You would need funding for marketing and advertisement. You would also need funding for the aspects of the business such as the product in which you are offering or to provide the services you plan to provide. Determine the sources of funding. Consider self-funding, borrowing, equity, venture capital, etc. Self-funding is the best way to start up any business. The owner of Amazon, Jeff Bezos started his business with his own funding, and he started as an online bookstore. Having your business self-funded and not taking out any loans or using investors you will have the ability to keep all the profits to yourself. Borrowing money from loans or family members is another source of funding however you would have to repay people and Borrowing funds to start up a business will start off with a debt and you may not see a profit right away. Venture Capital is another way to obtaining funding however you would have to split the profits with an investor. Venture capital is a form of private equity and a type of financing that investors provide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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