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Critical Topics to Explore before Starting a Small Business
May 5, 2004
A business plan is a fundamental tool to help outline strengths and potential obstacles that could be devastating to your new business. Using this tool, you will illustrate for yourself and/or potential investors your approach to business as well as communicate your direction, and reveal your plans for acquiring new clients and building them into loyal customers. A well thought out plan will define goals for your business' future to ensure growth. "One common myth is that written business plans are only good to submit to bankers to obtain debt financing or to investors to raise capital." (Clark, 2004)
An entrepreneur needs to research various funding sources before starting their new business. A traditional resource for financing a new business is a bank loan however "only 50 percent of small businesses survive past their first year of operation (according to the Small Business Administration) so......
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Title: Critical Topics To Explore Before Starting A Small Business
Approximate Word Count: 686
Approximate Pages: 3 (250 words per double-spaced page)
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Critical Topics To Explore Before Starting A Small Business
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