Creating, Financing, And Marketing A Business

1041 words - 5 pages

Running head: CREATING, FINANCING, AND MARKETING A BUSINESS

Creating, Financing, and Marketing a Business
Strayer University
Business
100
JANET LARGAESPADA
February 26, 2012

Creating, Financing, and Marketing a Business
In business there are several forms to consider when starting the organization, this paper will be focusing on the creation of a general partnership. A general partnership is one of the simplest forms of business to create because all it really takes is an agreement to form between two or more individuals and that is it. No complex documents to submit, no issuance of private stock, no bylaws or need for a board of directors. Its simplicity is a general ...view middle of the document...

This could put undue financial strain of an individual even after they have chosen to leave the business.
The next factor in establishing a business is funding. This is terribly important because without proper financing a business will die. There are several options for funding a small business and the most common is personal financing. The owners of the business put in the money that will cover the expenses. Here is a good example where a general partnership makes sense. The more partners you have the more people adding to the funding of the business venture. Small business loans are available from banks, venture capital firms are also an option if you are willing to give up a portion of the company, but the Small Business Administration (S.B.A.) is a better option for small business to begin with. The S.B.A. has options that range from micro loans to grants to low interest loans. They also have services that will connect you to other resources such as SCORE (www.score.org) which provides services outside of financial assistance that would normally cost thousands of dollars.
Once all of the financial funding is taken care of one of the more pressing matters is keeping track of the money accumulated and how the processes of the business affects the cash flow of the business. This is where managerial accounting comes into play because it allows the people who help to run the business get the information that will allow them to make better decisions about what to do with the money and how to most effectively produce the goods and services that the company sells. One example of this kind of flexible accounting is by analyzing the difference in cost in making a component in your own factories versus purchasing that component from a vendor that already has the capacity to do so. Opportunity costs are factored in as well if you can use that space to produce other items that could potentially bring in greater profits for the...

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