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Short Answer 10 financing your business

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Q / 1 ENTREPRENEURSHIP 1100 Short Answer: Financing Your Start Up 10 Points 1. You may be in this class because you are considering the possibility of starting your own business. If not, I will make up a business for you to start. Please pick one of the options below and answer question #2. a. If you are starting your own business, please identify how much money you need to raise and roughly identify what the funds would be used for. b. If you are not starting you own business, please assume that you are starting a business to manufacturer wheelchairs and that you will need to raise $200,000 to fund product development, initial marketing expenses, and provide working capital to finance accounts receivable and inventory. You have $100,000 of your own savings. 2. Using the information you learned, please discuss the sources of financing that you would explore. Please indicate the advantages and/or disadvantages of the methods you explore. Which method of financing would you choose to use and why? (10 pts)

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In this case I will be assuming to start a business to manufacturer wheelchairs and i will need to raise $200,000 to fund product development, initial marketing expenses, and provide working capital to finance accounts receivable and inventory. I have $100,000 of your own savings. In this case out of $200000, I already have $100000 as my own savings that I will be using as the means of funding from my personal savings because this is a start of a new venture and keeping debt finance low will be good.