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TOPIC 6 Starting a new entrepreneurial venture <ul><li>This topic discuss about types of ventures that the entrepreneur ca...
6.1 Types of ventures <ul><li>Ventures </li></ul><ul><ul><li>Start-up </li></ul></ul><ul><ul><li>Buying an existing busine...
6.2 Start-up <ul><li>Definition of start-up </li></ul><ul><ul><li>“ Start from scratch” </li></ul></ul><ul><li>Phases in s...
6.3 Buying an existing business <ul><li>Definition of buying an existing business </li></ul><ul><ul><li>Buying a business ...
6.3 Buying an existing business (cont) <ul><li>Advantages of buying an existing business </li></ul><ul><ul><li>Refer to pa...
6.4 Franchising  <ul><li>Definition of franchising </li></ul><ul><ul><li>“…any arrangement in which the owner of trademark...
6.4 Franchising (cont) <ul><li>Disadvantages:- </li></ul><ul><ul><li>Franchise fee </li></ul></ul><ul><ul><li>Franchisor c...
6.5 Legal structures for new business ventures <ul><li>Sole proprietorship </li></ul><ul><li>Partnership </li></ul><ul><li...
6.6 Sources of capital for entrepreneurial activities <ul><li>Personal funds </li></ul><ul><li>Family and friends </li></u...
THE END
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Topic 6 Starting A New Entrepreneurial Venture

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Topic 6 Starting A New Entrepreneurial Venture

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

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