Creating, Financing, And Marketing A Business

1131 words - 5 pages


Creating, Financing, and Marketing a Business

William B. Smith

Dr. Robert Culver

Lithonia Campus

BUS 100

August 19, 2012

Strayer University


Pros and Cons
Individuals with the intention of starting a business of their own have several options to choose from in regards to what structure that will fit their needs. For instance, a partnership means that more than one person has ownership of the company. There are different variations of a partnership such as limited and general partnerships. One particular benefit to a business that is defined as a partnership is that the work ...view middle of the document...

Other options include loans, grants, outside investors, or venture capital ( 2012), SBA or U.S. Small Business Administration are more outlets individual can seek out for funding for starting the business. The “SBA (Small Business Association) has several programs available for business owners who may have difficulties qualifying for a traditional bank loan”. The SBA also provides a guarantee”This guarantee represents the portion of the loan that the SBA will repay the lender if you default on your loan payments” ( There are plenty of state and federal grants to take a look at as well. For example, veteran's who are interested in starting a business, the Patriot Express Pilot Loan Initiative are available to them. The most important for a business owner to take into serious consideration is to thoroughly research all of their options in regards to financing and fully understand the repayment responsibilities before signing any legal document that is binding.

Managerial Accounting
Managerial Accounting deals with the management of inside information and analysis of a company. This information they provide to managers is vital for them to make important decisions, budgeting, and in house planning for the company. The general idea of managerial accounting is to allow managers to make on the finalized monetary reports. Product costing for example, deals with the total cost involved to produce a product or service. While Incremental analysis with a a more granular level of product introduction. In incremental analysis, managers need to know if the costs involved to put out a particular item is worth the companies time or if outsourcing that item might more cost effective. Budgeting allows the manager to set aside the right amount of funding for each area of production. Different components may change a company's desire to continue production of certain products of service or totally dissolve them (BUSN Textbook pages 111-113). Managers rely on the information that managerial accounting reports provide so they can make sound and logical decisions as to what direction to take the company.


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