Entrepreneurship 101-mechanics-of-starting-a-business-1197584319859938-2

CIBC Veni Iozzo, Vice President Steven White, Senior Director Small Business Banking December 2007

Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Starting a Business – What You Need to Know ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Ownership Structures – Determine What is Right for Your Business ,[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Ownership Structures – Determine What is Right for Your Business

[object Object],[object Object],[object Object],[object Object],Ownership Structures – Determine What is Right for Your Business

Business Bank Account ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Business Plan – Your Roadmap to Success ,[object Object],Business Profile: This introduction to your business plan provides important information about your company’s business structure, key principals, professional advisors, and financial history. ,[object Object],[object Object],[object Object],[object Object]

Business Plan – cont’d ,[object Object],[object Object],It is important for your plan to be realistic and reviewed regularly – make changes whenever necessary. ,[object Object],[object Object],[object Object],[object Object]

How do you finance your business? ,[object Object],[object Object],There are two main ways to finance your business

Financing your Business Equity Financing Can be obtained through savings or investors. Investors typically receive an ownership interest in your company in return for their investment ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Financing your Business There are a number of ways to finance a business. The lender will evaluate your ability to borrow based on strength of your business plan, management capabilities, financing, your past personal credit history and collateral available to secure the loan. New business owners (in business less than 2 years) typically require collateral such as mortgages or cash/investments.

Financing your Business ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Sources of Debt Financing

Financing your Business ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Funding Sources and Programs (examples)

What is the Bank Looking For? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Why a Business Fails ,[object Object],[object Object],[object Object],[object Object],[object Object],Creating an effective business plan will assist you in avoiding the pitfalls of running a business. Seeking professional help is another important way to avoid or plan for business challenges. ,[object Object],[object Object]

Sources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Entrepreneurship 101-mechanics-of-starting-a-business-1197584319859938-2

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