You are starting your own business! You will need to develop a formation plan. In formulating your plan, respond to the assignment below. You should use the textual materials presented in the chapters and you may also utilize electronic resources in the development of your plan although you will need to identify those resources used in the bibliography to your plan.
Business Plan Assignment –
1. Type of Business:
2. Name of Business: How will the business be organized? (Sole Proprietorship, General Partnership, etc.) Why did you choose this form? (Note: In responding to this question, identify the strengths and weaknesses of this form of ownership and explain fully why, after consideration of all of those factors, you determined that this form of ownership is the best for your business.)
3. Will you be forming the business with anyone else? If so, identify that person.
4. What “formation documents” will be necessary to form this business?
5. What licenses or permits, if any, will be necessary to form this business and from where will they be obtained?
6. How will the business obtain its initial capitalization? Who will manage the business?
7. What agreements will be needed to organize and begin the operation of the business?
8.What other steps will be necessary for the development/implementation of this business?
9. Resource Bibliography: Identify the resources you consulted and the type of information gained from that source. Prepare a thorough annotated bibliography. If the resource is electronic,