QUESTION 1 [100 MARKS]
Although you are employed full-time and earn a good salary, your household expenses keep accumulating. You decide to start a side hustle to generate extra income and want to do proper research rather than just jumping in.
Required
Prepare a business plan to discuss with, and convince, your family to create this new venture as a
family business, to get their support, and to show each member of the family how they can have a
role and duties.
1.1 Create a checklist outlining the entrepreneurial process to make sure you address all aspects of your business. (15 marks)
1.2 Draw up your business plan. Include (80 marks):
• A title page.
• Table of contents.
• Executive summary.
• Vision and mission statement.
• Overview.
• Products and or service plans.
• Marketing plan.
• Management plan, including flow and control of information.
• Feasibility and financing plan.
• Operating plan.
1.3 Motivate whether/how you are going to address your social responsibilities and any
possible ethical issues. (5 marks)
and you can use any book sources that are relevant.
ANSWER: – It can be comforting to know that you will be able to keep your debt to yourself even if something unexpected happens or if you are stuck in a payday for longer than you intended. A person’s financial situation can be divided into five diff…View the full answer
