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.