Discuss the pros and cons of borrowing from friends and family for your business venture.
Discussion 6: Borrowing from Friends and Family.
Must post first.
Discuss the pros and cons of borrowing from friends and family for your business venture. Be sure to detail some of the complications of borrowing from “family” as opposed to traditional lending sources such as banks and credit unions.
Discussion 7: Newberry Comics
Research Newbury Comics online. This company operates in multiple states, but started off as a single store in Boston. What were some of the cross-jurisdictional legal issues that arose? How did the company handle complaints about products that were sold? They did not have staff attorneys; as a result they utilized outside counsel on a retainer basis to address such issues as employment law, vendor, customer, and product issues. Discuss what they did wrong and what they could have improved upon.
Discussion 8: Hiring and Labor Practices
Search the internet to identify an organization that has faced legal challenges alleging non-compliance in hiring practices in one or more of the following: Americans with Disabilities Act, Affirmative Action, Age Discrimination, etc. Summarize the issues and current status of the case and discuss how, as a supervisory and hiring authority for the organization, you would have been instrumental in avoiding legal challenges. Cite the URL for the article so students can review.
Discussion 9: Ethics
After viewing the NBC Video: Goldman Sachs Gets Grilled, discuss whether or not Goldman Sachs followed ethical principles for its clients in dealing with the mortgage crisis and economic implications of their actions. When reviewing the Ethical Principles for Entrepreneurs in Figure 12.6 of Chapter 12, determine if Goldman Sachs follow these principles. Which ones did they violate?
Discussion 10: Franchise Opportunities
After reviewing the websites from the Learning Activities page for LP10 (#5) on franchise opportunities, summarize your insights and franchise research, and answer the following questions with a recap of your summary on the discussion board. Be sure to identify the franchise you researched in the discussion post.
Identify one franchise opportunity that you would consider, and answer the following questions:
What attracts you to the idea of franchising?
Are opportunities in franchising comparable to starting a business from scratch? What are the pros and cons?
What are the long-term prospects for owning the franchise you researched? Can you make an equivalent amount of net income compared to starting your own business?
LP5 Assignment: Calculating Financial Ratios
Business is a numbers game, and survival in the marketplace depends on having the right numbers in black ink. It is necessary to compare your venture to other businesses in your industry by calculating key financial ratios. Review the financial ratios in Figure 8.10 in Chapter 8 of your text.
Go to BizStats by BizMiner and select “Financial Benchmark Reports” – Select “Sole Proprietorship” or “Corporation” or “S Corp” – Select your Industry (for example, Retail – food & beverage), then you will see various business statistics and financial ratios. Look at the Industry Financial Ratios for your industry at the bottom, and recap this specific information in a 1-2 page paper including the industry you chose.
Submit this assignment to your instructor via the dropbox “LP5 Assignment: Calculating Financial Ratios.” This assignment is worth 75 points.
*Note: The research compiled for this assignment will be utilized in a future class. Also, submit your assignment to the Locker. Go to My Home – My Tools – Locker – upload files
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LP6 Assignment: Research SBA Programs
Directions: Write a one to two page paper researching SBA Loan programs at the Small Business Administration’s website. Also, contact the SBDC (Small Business Development Center) in your area to see what support services are offered for entrepreneurs as well as financing options through the SBA.
Submit this assignment to your instructor via the dropbox “LP6 Assignment: Research SBA Programs.” This assignment is worth 75 points.
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