Small Business Management May Semester 2013- Rev 2.Docx
| MAY SEMESTER 2013ASSIGNMENT | BMSB5103 – SMALL BUSINESS MANAGEMENT | | Prabageran Thiagarayah | CGS0045480223rd July 2013 |
QUESTIONS:
One business expert acknowledges that “Different stages of a small business cycle of development may not necessarily require the identical sources of financing. As such different sources of financing are observed right from the initial business idea creation, to start up, expansion and to the maturity and sustainable stages”.
1. Critically discuss the above statement in relation to various sources of financing for different stages of business cycle from what it can be presented from the literature.
[30 marks]
Different stages of small business cycle of development may not necessarily require the identical source of financing. As such, different sources of financing are observed right from the initial business idea creation, to start-up, expansion and to the maturity and sustainable stages.
Starting a business or setting up you up as self-employed is a brave step. To success you’ll need to have plans and yet putting one together can be daunting. It is often the case that people who have a fantastic idea or a dream they wish to fulfil are so scared of failure that they do not even try to make it become reality. Starting a business is one of those dreams which for many people never come true. As an entrepreneur, starting up can be an exciting experience. This means being honest about a range of issue- your knowledge, your financial status and the personal qualities that can bring to your new business.
There are a few steps that are needed to be taken into consideration. * The first step is to make sure it’s really the right thing to do.
This is where the business idea is created.
* Secondly is having what it takes.
It is a process to ensure you the right skills and qualities needed to make a success of the business.
* Step 3 is about market research.
In order for your business to
QUESTIONS:
One business expert acknowledges that “Different stages of a small business cycle of development may not necessarily require the identical sources of financing. As such different sources of financing are observed right from the initial business idea creation, to start up, expansion and to the maturity and sustainable stages”.
1. Critically discuss the above statement in relation to various sources of financing for different stages of business cycle from what it can be presented from the literature.
[30 marks]
Different stages of small business cycle of development may not necessarily require the identical source of financing. As such, different sources of financing are observed right from the initial business idea creation, to start-up, expansion and to the maturity and sustainable stages.
Starting a business or setting up you up as self-employed is a brave step. To success you’ll need to have plans and yet putting one together can be daunting. It is often the case that people who have a fantastic idea or a dream they wish to fulfil are so scared of failure that they do not even try to make it become reality. Starting a business is one of those dreams which for many people never come true. As an entrepreneur, starting up can be an exciting experience. This means being honest about a range of issue- your knowledge, your financial status and the personal qualities that can bring to your new business.
There are a few steps that are needed to be taken into consideration. * The first step is to make sure it’s really the right thing to do.
This is where the business idea is created.
* Secondly is having what it takes.
It is a process to ensure you the right skills and qualities needed to make a success of the business.
* Step 3 is about market research.
In order for your business to
References: 1. http://www.tekun.gov.my/en/web/guest/pendahuluan 2. http://sbcwk.com.au/pdfs/Business_Planning_Your_10point_Guide.pdf 3. http://www.tekun.gov.my/en/;jsessionid=B79C010EBC98E21A2414E568EF58C575 4. http://www.usahawan.com/pinjaman/amanah-ikhtiar-malaysia.html 5. https://www.asbtdc.org/DocumentMaster.aspx?doc=1051