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  • #995234
    argonaut1977
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    Hi everyone,
    Im stuck again with a question from my business course, it would be great for some help?

    Read the scenario and answer the following questions in the spaces provided.

    You are 40 years old and would like to start a small business making and selling gourmet chocolates from a shop in a large shopping complex. You think you will need an additional $20,000 to pay for start-up costs and ongoing financial requirements for the first year, at the end of which you expect the business to be self-supporting. You hope to repay the $20,000 and all interest over a five-year period. You have a good credit history.

    1. Undertake research to find out the terms and conditions of a bank loan or other type of bank finance which would be suitable for your needs. Describe the type of finance you have chosen, its conditions and why you have selected it:

    2. Describe the main terms and conditions and explain how these would have an impact on the business:

    3. Calculate the cost of the finance in dollar terms:

    #1200763
    Rohan@TD
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    Head to Business.gov.au and look up business planning for information on the profit loss statement and its relationship to the business plan. Download the templates and see exactly what is included.

    For your coaching/mentoring question see ‘how coaching assists business owners‘. Coaching, mentoring, training, seeking assistance etc. all help improve forecasting accuracy, completeness etc.

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