Need help with your Discussion

Get a timely done, PLAGIARISM-FREE paper
from our highly-qualified writers!


Financial Start-Up Needs for a Business

Financial Start-Up Needs for a Business

Financial Start-Up Needs for a Business

Starting a credit repair business from scratch takes a lot of planning and thought. I will outline the needs and rationale for my estimates. We’ll examine cash, equipment, office space, supplies, licenses, and permits.

The first thing is that cash is not a reason not to start a business; there are other options such as grants, go-fund-me options, loans, or just borrowing from family or friends. The cash will allow me to make small purchases and be a cushion while waiting for income. I will need an estimate of about $5,000 to get started, but I will apply for business credit and use that to purchase equipment, office supplies, office space, etc.

A computer, laptop, or desktop is essential to the business because this is where you communicate with your clients and prepare letters to be mailed to the bureaus.

Computers improve business efficiency by expediting routine tasks. I will estimate a nice laptop at about $1,500. I would rent a place with office space already furnished with a desk, chairs, internet, phone service, and copy/print station. This will eliminate me from purchasing those things outright. I estimate that setup to be around $700 per month. In addition, I wouldn’t have to pay utilities, which would save a lot. The only thing I’ll probably be responsible for is the cost of printing and postage.

Software to run my program will be a separate cost from the office space, which is currently $99 per month. Postage will vary depending on each letter’s weight, estimated at $1.49 per envelope. License/Permits in my town have been around

$200 annually. Labor at this time will only be me, which cuts the labor cost; I estimate on the low side of paying myself at least $1000 monthly after 6 months.

The first thing is to have cash on hand. Other options to obtain funding include grants, go-fund-me options, loans, or just borrowing from family or friends because money is no reason not to start a business. The cash will allow me to make small purchases and be a cushion while waiting for income. To purchase the software and other items that do not come with the office space, I will apply for one of the above options, and in the interim, I will apply for business credit cards and business lines of credit. To apply for the business lines, I will make sure my company is set up as credible in the eyes of the lender from my credibility checklist. I will estimate about $5,000 on hand to get started, I won’t use it all upfront, but it will be a cushion for slow times as the start cost of this business is really low.

Despite investors ‘ best efforts, there’s no perfect way to determine a company’s financial health, let alone sustainability. However, four critical areas of financial well-being can be scrutinized closely for signs of strength or vulnerability.

The four areas to consider are liquidity, solvency, profitability, and operating efficiency. All four are important, but profitability is the most significant measure of a company’s financial health. I can learn if the company’s performance is profitable by examining the financial ratios. (1)

You can use them to provide insight into the current performance of my company in comparison to past periods, from the prior quarter to years ago. They will also help identify problems that need fixing. Even better, it can direct my attention to potential problems that can be avoided. In addition, I can use these ratios to compare the performance of my company against my competitors or other members of my industry to help me with decision-making.

Remember that the ratios you will be calculating are intended simply to show broad trends and, thus, to help you with your decision-making. They need only be accurate enough to be useful to you. Don’t get bogged down calculating ratios to more than one or two decimal places. Any change measured in hundredths of a percent will almost certainly have no meaning. Make sure your math is correct, but don’t agonize over it. (2)

References companys-financial-health.asp

How to Analyze Your Business Using Financial Ratios


We’ll write everything from scratch


The Basics of a Start-Up


This assignment investigates the financial needs of your business venture from the first assignment, Your Business Venture.

Financial Start-Up Needs for a Business

Financial Start-Up Needs for a Business


Write a 2-3 page paper in which you:

  1. Outline the financial start-up needs for this business. Consider cash, equipment, space lease or purchase, raw materials, and labor costs. Provide a rationale for your estimates.
    • This is only a preliminary list. As you progress in the course, this outline will be fine-tuned.
  2. Once you have estimated the start-up needs for this business, determine the best financing options to obtain the needed capital and how you would approach securing this type of financing. Justify your selection.
  3. Evaluate the two most important financial ratios you will use to track the business’s health and explain how each would provide insight into the business’s performance. Provide a rationale with your response.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

  • Determine financial start-up needs for a business, options, and approaches for securing financing, and financial ratios for tracking business performance.

Have a similar assignment? "Place an order for your assignment and have exceptional work written by our team of experts, guaranteeing you A results."

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: Eminence Papers only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed of papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Eminence Papers are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Eminence Papers are known for the timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit in all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Eminence Papers, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.

We Can Write It for You! Enjoy 20% OFF on This Order. Use Code SAVE20

Stuck with your Assignment?

Enjoy 20% OFF Today
Use code SAVE20