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Oct 04, 2024
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BUSN 155 - Entrepreneurship 3 Credits Overview of contemporary principles and presentation of specific small business management tools and development of skills in analyzing and solving small business management problems.
Fees
Quarters Typically Offered
Fall Day
Designed to Serve General business students, students in other professional-technical programs, and the general public Active Date 2014-02-20
Grading System Decimal Grade Class Limit 38 Contact Hours: Lecture 33 Lab 0 Worksite 0 Clinical 0 Other 0 Total Contact Hours 33 Degree Distributions: ProfTech Course Yes Restricted Elective Yes Course Outline Introduction to the Business Plan
Purpose of a Business Plan
The Business Plan Narrative
Outline of a Business Plan
Executive Summary
1. Products/Services Description
2. Money
Sources of Business Funding
Startup Capital
Startup Costs
Break Even Analysis
Source and Use of Funds
Financial Assumptions
Income Statement
Cash Flow Statement
Balance Sheet
3. Marketing
Products and/or Services and your Unique Selling Proposition
Pricing Strategy
Sales/Distribution Plan
Advertising and Promotions Plan
Marketing Calendar
4. Management
Ownership Structure
Internal Management Team
External Management Resources
Human Resources Needs
5. Operation/Legal and Government Controls
6. Choices for Entity Structure include proprietorships, partnerships, corporations, limited liability companies, and joint ventures
Governance and control
Taxation
Required reporting
7. State Regulations
What type of licenses and/or permits do you need
Zoning
Explanation of any patents, copyrights, trademarks, trade secrets, and contracts that will be needed.
Product, manufacturing and inventory
8. Taxation
Federal, state, and local taxes.
9. Information Sources
The Small Business Administration - SBA.gov
National Trade Association
KCLS.org
SBDCnet.org
Census.gov
WSBDC.org
Student Learning Outcomes Explain the purpose of a business plan and key components that are included within the plan
Develop an understanding of resources and management tools for small business and how to use them effectively
Explain the various entity structures for a small business and the differences in taxation and management control
Correctly explain and detail the procedures needed to apply for state and local business licenses.
Explain the types and sources of funding for small business.
Create a Balance Sheet, Income Statement, and Cash Flow Budget, and demonstrate an understanding of how these statements are used in small business decision making.
Explain the definition of small business as used by the United States Small Business Administration.
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