Professional Documents
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Family Business Enterprise
Family Business Enterprise
Family Business Enterprise
Determine legal
Register your Finance your
structure for
business. business.
your business.
IDENTIFY AND SELECT
A BUSINESS
OPPORTUNITY
Identify potential business
opportunities
PREPARE A BUSINESS PLAN
Is a document that contains the goals,
plans, strategies, and resources of a business.
BELOW ARE THE PARTS OF THE
FEASIBILITY PLAN:
Marketing aspects - These involve market
research to determine a gap in market demand for
the product or service, determination of whether the
gap is sizeable enough to make a project feasible,
and analysis of competitors, market shares, sales
volume, and selling prices.
Technical or Production Aspects - These involve
analysis on how to make the product or service, the
sources and costs for materials, quality features,
and operating processes and their cost.
Financial Aspects – These involve analysis
of whether the project will be financially
viable by determining the sales revenues, the
costs and expenses in producing the product
or service, the means of financing, and
analysis of profitability of the venture.
Organizational Aspects – These identify
the legal form of the business
FINANCE YOUR BUSINESS
YOU CAN FINANCE YOUR SMALL BUSINESS USING
SEVERAL COMBINED SOURCES: It is important to
• Your money prepare a SWOT
analysis of these
• Your family, friends, and relatives alternative
sources of funds
• Borrowing from a bank for your business