Different ways to fund your business
• List at least three different ways you could fund your business and explain the pros and cons of each.
• Why do you think a business plan is important to the success of your business concept? Or is it?
• Find a resource about why a business plan is necessary. Share a link to the resource and discuss your ideas on the topics presented in the resource.
• Successfully transitioning a family business from one generation to another is a goal of many owners of family-run firms. Discuss the pros and cons of passing a business from one generation to another. +500 words, include references
3 Venture Capital: Lastly, venture capital (VC) financing may also serve as another possible source for funding a new business endeavor or project; though typically reserved more towards startups that carry higher levels risk than established businesses would usually entertain - as VC firms will only invest in companies where they deem “high growth potential" exists within them along with good return prospects in exchange for their financial backing.. The positives associated with VC include gaining access to resources outside your own networks; like angel investors and wealthy individuals who may offer mentorship & guidance along with providing advice based upon their extensive experience in industry specific arenas; plus you typically don't owe any money back if your venture fails unlike traditional forms of financing previously discussed here - only equity shares you've agreed upon prior within your venture agreement contractual documentations(see appendix A). However one big negative aspect about VC's is having less control over decision making since board members hold disparity amongst voting rights amongst shareholders & stakeholders when it comes directing where tasks & responsibilities should take place inside an organization etc.