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Topic 6 Starting A New Entrepreneurial Venture
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  • 1. TOPIC 6 Starting a new entrepreneurial venture
    • This topic discuss about types of ventures that the entrepreneur can start the legal structures for new business ventures and sources of capital for entrepreneurs
  • 2. 6.1 Types of ventures
    • Ventures
      • Start-up
      • Buying an existing business
      • Franchising
  • 3. 6.2 Start-up
    • Definition of start-up
      • “ Start from scratch”
    • Phases in start-up
      • Prestart-up phase
      • Start-up phase
      • Post start-up phase
    • Advantages & Disadvantages of start-up
      • Refer to page 68
  • 4. 6.3 Buying an existing business
    • Definition of buying an existing business
      • Buying a business that is currently running
    • Steps and processes in buying an existing business
      • Personal priority
      • Business opportunity
      • Reviewing potential target
      • Arrangement of financing
      • Conduct due diligence
      • The formal agreement
      • Ready for business
  • 5. 6.3 Buying an existing business (cont)
    • Advantages of buying an existing business
      • Refer to page 72
    • Disadvantages of buying an existing business
      • Refer to page 73
  • 6. 6.4 Franchising
    • Definition of franchising
      • “…any arrangement in which the owner of trademark, trade name or copyright has licensed others to use it and sell its goods or services”
    • Advantages:-
      • Training and guidance
      • Brand name appeal
      • Proven track record
      • Financial assistance
  • 7. 6.4 Franchising (cont)
    • Disadvantages:-
      • Franchise fee
      • Franchisor control
      • Unfulfilled promise
  • 8. 6.5 Legal structures for new business ventures
    • Sole proprietorship
    • Partnership
    • Corporation
    • Private corporation
  • 9. 6.6 Sources of capital for entrepreneurial activities
    • Personal funds
    • Family and friends
    • Retirement accounts
    • Banks and other financial institutions
    • Government loans
    • Stock market
  • 10. THE END