Financials and Human Resources Planning
Section One: Start-up Financials
Start-up Expenses- Complete the SCORE.org template and attach as an object here:
Pricing Strategy- Document the team's pricing strategy. Include competitive data and factors used to develop a strategy and model. Attach supporting documentation as needed.
Financial Statements- Summarize the purpose of Financial Statements and why it is important for small business owners to understand the key components of:
• Balance Sheet
• Income Statement
• Cash Flow Statement
• Break-even Analysis
Part Two: Human Resource Planning for a Start-up Business
1. Describe below how your team will determine human resource requirements during the first 12 months of operation. Provide a Human Resource Forecast that includes:
Number of hourly employees- full time, part time
Use of student employees- seasonal, after school
Management structure
Skilled labor requirements- certifications, licenses, etc.
Volunteers to be used
Family member employment
2. Include any charts your team wants to include to illustrate the Human Resource Planning Process.
Part Three: Reflection and Observations
Answer the following questions:
1) What role did each team member provide to obtain the business plan information?
2) What roadblocks did the team face when obtaining required information?
3) What lessons were learned during the week's learning team assignment which can be applied during the specific phase of business start-up?
4) What is the team's overall observations of this week's assignment relative to the type of
information needed to develop a comprehensive business plan?
5) How does this week's Learning Team assignment support the Learning Objectives?
Attachment:- Executive Summary.rar