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Week 5 - Funding

Week 5 - Funding

Q Instructions Course Objective: • Analyze funding resources for your plan and obtain funding Before you can attempt to complete the financial section of your business plan, you have to get real with your personal financials. Take time this week to complete the Personal Financial Statement Worksheet from Score. Don't worry, you will not be submitting this confidential information in this assignment. You will only be discussing your findings. Download the Personal Financial Statement Worksheet from Score. Complete the worksheet by working through steps 1-3. DO NOT SUBMIT THIS WORKSHEET. Once your worksheet is complete: In 600 minimum-750 maximum content words (title page, abstract, and references not included in count), and using at least 2 other credible resources, discuss the following: • Were there any surprises in your financial situation? • Are you able to move forward with obtaining funding for your business? If so, what is your next move? • If you are not in a position currently financially to move forward, how will you get there? • What are your top three barriers to success? Submit all answers as one file by 11:55 PM ET, Day 7 (Sunday). Use the template provided in Week 1. Follow APA format. Turnitin report less than 20% similarity match is required. ________________________________________

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Funding is an important aspect of every new business, especially when the business is a nonprofit like the one proposed for the business plan. If there is lack of donors, volunteers, sponsors, or sources from the government for funding, there can be challenges faced by nonprofit organizations to continue their business operations. There can be internal sources of funding like voluntary spending from donors or volunteers working in the organization. There can also be other internal sources like personal savings of the business entrepreneur from past investments or business operations (Prijadi et al., 2020). There can also be external sources of funding like sponsors, investors, sources from the government, etc. (Prijadi et al., 2020).