Financial Feasibility Evaluation Takara Wilson

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University of Phoenix *

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115

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Finance

Date

Jun 4, 2024

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docx

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Uploaded by PrivateDog4118

1 Financial Feasibility Evaluation Takara Wilson University of Phoenix FIN/375 Sean Colletto 4/02/2024
2 Financial feasibility is very important when it comes to starting a new business. It helps you to understand what you can expect financially, especially when it comes to the cost, revenue, and profitability. It helps you to see what you need to support your building idea all together. This helps make sure everything can flow and stay a float. As for starting my business this is something that I had to look into dramatically because I am going to need a large amount of funds to cover payroll and bills of building and etc. If I do not have enough funds starting out I will go under or go into the red trying to gain revenue to support my business. As I conduct my research I learned that bootstrapping is when you use the funds on hand or that is given to you to start your own business without having to pay anything back. Debt financing consists of getting loans from banks or the government or local governments to fund your business, which means just as it sounds. You will have to pay back every penny borrowed. Equity financing is when you get someone that is willing to invest for a partnership or share in your business. All three of these are similar because they can produce or provide capital that can be used to start or fund a new business. They are different because some gifted with no strings and some you pay back or an investor buying a share of your business idea. Risk analysis is very important especially when it comes to starting a new business because when doing it beforehand you can pin point and it can show you what challenges your business will be facing. This will help you to make any adjustments needed before they occur. You can stop the problem without having to stop your business.
3 Crowdfunding evaluating is very important as well. You gain your support from a large group of people which help your business to gain revenue through the crowd. This will also help you to see if your idea is going to be successful. You can gain feedback from your customers or future customers to see what you need to improve or change. Since doing the research the steps I would take starting my new business and what funding I would use to fund my business as follows. I would create my business plan and analyze what all is needed to start the business, after doing so I know that I need at least twenty thousand dollars to start. I would go by using bootstrapping and debit financing to fund it because I have funds to start but not enough to have my goal amount to start and be not worried financially. I learned that being financially feasible is a must and can make and break a new business. Crowdfunding is a great way to get my business out there but starting a trucking company so I am going to look and research how that works with starting a trucking company. is needed to get help for wages of the drivers. This service will help to keep the students safe and out of cars of other students learning to drive. This program has been proving successful by other schools and students have increase their grades, seem more focus, gain confidence, skill sets, and even scholarships for college. I am asking for help because our future along with the students future is bright.
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