BUS 313 Assignment 2 Successfully Funding Your Business Venture

Preview (3 of 8 Pages)

100%

Purchase to unlock

Loading page image...

Running Head: SUCCESSFULLY FUNDING YOUR BUSINESS VENTUREBUS 313 Assignment 2Successfully Funding Your Business VentureFor Assignment 1, you imagined that you were going to start a company that offered an innovativeproduct or service. In Assignment 1 you also determined the businessstructure you would use for thatventure. For this assignment, you can use that same idea and structure or imagine different ones. Usethe Internet and the Strayer Online Library to locate any additional information needed to complete thisassignment.Write a six to eight (6-8) page paper in which you:Determine the steps you would need to take to officially establish your company with the businessstructure that you feel is most appropriate. For each of those steps, be sure to include specifics thatare relevant to your market and geographic area.1.Examine at least three (3) funding sources that might be appropriate for your business. Describewhat those sources of capital are, and explain the pros and cons of each.2.Select the funding source that you believe to be the best fit for your business and explain why.3.Determine the form(s) of intellectual property that you will have to protect when starting yourbusiness. Develop a plan to protect these intellectual properties.4.Choose one(1)of the following approaches: Assume you decide to revamp your product orservice so that it is completely virtual/online and concentrates on fulfilling a social need. Proposetwo(2)ways that you would need to alter your preferred funding sources and explain why.Determine whether you would or would not have additional forms of intellectual property toprotect. Support your decision.OrIf your initial business product or service was alreadycompletely online and geared toward social entrepreneurship, determine ways that you mightneed to revise your funding and protection of intellectual property had your company not beenrooted in social entrepreneurship and had a physical location.5.Imagine that you established your initial idea for a company and have been successfullyoperating for five years(5). Describe how your hypothetical need for capital changed over theyears. Determine which sources of funding would be the most appropriate if you wanted to raisecapital to expand your hypothetical business. Examine how, if at all, those funding sources mighthave differed from those needed in early stage funding.6.Use at least three (3) quality academic resources in this assignment.Note:Wikipedia and otherWebsites do not qualify as academic resources.SuccessfullyFunding Your Business VentureBus313

Loading page image...

Successfully Funding Your Business Venture2MEISHACOSMETICSCOMPANYINTRODUCTIONThis reportis focused on establishing a new business or company, what are the requirements ofstarting a new business and how it will evolve with the time.Thenewcompany is going to beestablishedasa limited liability company.It is going to be a manufacturingcompany that wouldmanufacturecosmeticsunder the name “Meishacosmetics.”Meishacosmetics will usedistributors to push its products to wholesalers and retailers.STEPS TO ESTABLISH A NEW BUSINESS/ COMPANYFirst this company is going to beorganized as a legal entity and for that it will beregistered withthe state government.Company’s legal name“Meishacosmetics”will be registered with thestate government as the legal name ofthecompany is required on all governmentdocuments;these forms includetheapplication form for employer tax identifications,licenses and permits(Van Osnabrugge, & Robinson, 2000).The next step is therequirement of acquiring an Employer identification number (EIN) from theU.S Internal Revenue Service. It is also calledEmployer Tax ID and form SS-4.Company needsEIN because it is used to distinguish a business entity.Acompany canapply for EIN in severalways including applying online.Internal revenueservice providesthis service for free.Inaddition to that, company will also acquire Federal Tax ID.As this company is going to sellproducts so it needs a Sales Tax Permit or Vendor’s licensefrom state or local governmentwhich would help incollectingsales taxfrom customers(Van Osnabrugge, & Robinson, 2000).The company will also acquire industry-specific operating permitsfrom state government

Preview Mode

This document has 8 pages. Sign in to access the full document!

Report

Study Now!

Document Details

Related Documents

CIS 337 Unit 7 Assignment Final Project Part IV Pr

Analysis of Leadership in Monster Inc

Evaluation of Alphabet's Mission, Vision, and 8-29

Boundless Management

Uncovering the Martha Stewart Tax Scandal Insider

Boundless Business

JetBlue Airlines Case Analysis

Effective Speaker Notes Template for BUS 210 Prese

Leading as a Function of Management

McDonald's Q4 Earnings U

Company

Explore

Study Tools