For this assignment, you will now turn your attention to financial portion of your business plan. Think carefully about how much money you will need to get your business started, what your specific expenses will be, and the best sources of financing for your business. Review the background materials on financing options and business plans, and then write a three-page paper covering the following issues:
- How much will it cost you to get your business started? Include a breakdown of the different expenses that you will face in the first year that your business is operating.
- What source of financing will be the best choice for your new business? Explain your reasoning, and make sure to cite Sherman (2012) or The Staff of Entrepreneur Media, Inc. (2015) or other references from the background materials to justify your choice.