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Unformatted text preview: -Borrowing money without a plan on how to pay it back-Not allowing for setbacks or unexpected expenses.-Forgetting about taxes, insurance, and other business costs-Buying/ Selling too much on credit-Failing to keep complete and accurate financial records What can gov’t do to improve entrepreneurship?-immigration act of 1990-Enterprise zones-Business incubator-Small Business Administration (SBA) o Source of information and assistance o Service corps of retired executives (SCORE) o Active corps of executives (ACE) o Source of business loans Business Plan Outline:-An executive summary-Company background-An organization chart and HR plan-Financial, operations, and marketing plans-A location analysis-Other sections specific to the particular areas of business. Other sources of Expert Advice-Attorney-Accountant-Insurance agent-Commercial loan officer-Industry trade associations...
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This note was uploaded on 04/22/2008 for the course COM 318 taught by Professor Stewart during the Spring '07 term at Purdue.
- Spring '07